A diverse range of companies in various industries, from natural resources and manufacturing to banking and telecommunications, plays a significant role in the Indonesian economy. These companies also serve as major employers in the country.
Some of the biggest companies include state-owned oil and gas giant Pertamina, private mining firm Bumi Resources and Bank Central Asia (BCA), one of the largest banks in Southeast Asia. Other notable companies include telecommunications giant Telkom Indonesia, automotive manufacturer Astra International and consumer goods company Indofood.
Fortune Indonesia and Market Cap are showing different results. State-owned companies dominated the Fortune Indonesia’s list while privately-owned companies dominated the Market Cap’s list.
Based on revenue (Fortune IDN vs Market Cap)
| Revenue | |||
| Fortune Indonesia (2021) | (in IDR billion) | Market Cap (2022) | (in US$) |
| Pertamina | 820,650.48 | Astra International | $ 18.64 B |
| Perusahaan Listrik Negara | 368,174.27 | Bank Rakyat Indonesia | $ 12.67 B |
| Astra International | 233,485.00 | Telkom Indonesia | $ 9.96 B |
| Bank Rakyat Indonesia | 191,728.92 | Gudang Garam | $ 8.64 B |
| Telkom Indonesia | 143,210.00 | Bank Mandiri | $ 7.94 B |
| Bank Mandiri | 141,635.05 | United Tractors | $ 7.69 B |
| Gudang Garam | 124,881.27 | Sampoerna | $ 7.47 B |
| Indofood Sukses Makmur | 99,345.62 | Adaro Energy | $ 7.33 B |
| Hanjaya Mandala Sampoerna | 98,874.78 | Indofood | $ 7.32 B |
| Mind.ID | 93,751.49 | Alfamart | $ 6.39 B |
| Bank Central Asia | 87,964.77 | Bank Central Asia | $ 5.84 B |
| Sumber Alfaria Trijaya | 84,904.30 | Bayan Resources | $ 4.45 B |
| Pupuk Indonesia | 78,603.14 | Indofood CBP | $ 4.30 B |
| Bank Negara Indonesia | 72,132.23 | Bank Negara Indonesia | $ 4.07 B |
| Sinar Mas Argo Resource & Technology | 75,004.23 | Indah Kiat Pulp & Paper | $ 4.00 B |
| Adaro Energy Indonesia | 56,976.09 | Charoen Pokphand Indonesia | $ 3.92 B |
| Charoen Pokphand Indonesia | 51,698.25 | Barito Pacific | $ 3.21 B |
| Indah Kiat Pulp & Paper | 50,181.68 | Indosat | $ 2.91 B |
| Barito Pacific | 45,031.21 | Unilever Indonesia | $ 2.80 B |
| Japfa Comfeed Indonesia | 44,878.30 | Chandra Asri Petrochemical | $ 2.64 B |
| Indika Energy | 43,796.93 | SIG (Semen Indonesia) | $ 2.38 B |
| Erajaya Swasembada | 43,466.98 | Mayora | $ 2.06 B |
| Bayan Resources | 40,701.17 | XL Axiata | $ 1.94 B |
| Unilever Indonesia | 39,545.96 | Astra Agro Lestari | $ 1.56 B |
| Sinar Mas Multiartha | 38,533.10 | Bank Danamon | $ 1.21 B |
| Semen Indonesia (SIG Group) | 349,957.87 | Vale Indonesia | $ 1.14 B |
| Pelabuhan Indonesia (PELINDO) | 32,010.32 | Jasa Marga | $ 1.10 B |
| Indosat Oooredoo Hutchison | 31,388.31 | Tunas Ridean | $ 1.03 B |
| Dian Swastatika Sentosa | 30,893.78 | Elang Mahkota Teknologi | $ 0.97 B |
| Krakatau Steel | 30,767.12 | Merdeka Copper Gold | $ 0.74 B |
| Indo Tambangraya Megah | 29,636.12 | Sarana Menara Nusantara | $ 0.72 B |
| Bank Tabungan Negara | 28,157.53 | Permata Bank | $ 0.71 B |
| Mayora Indah | 27,904.56 | Bank Mega | $ 0.53 B |
| XL Axiata Tbk | 26,754.05 | Ace Hardware Indonesia | $ 0.46 B |
| Kalbe Farma | 26,261.19 | Tower Bersama Infrastructure | $ 0.44 B |
| Saratoga Investama Sedaya 15 | 26,061.93 | Mitra Keluarga | $ 0.27 B |
| AKR Corporindo | 25,707.07 | GoTo | $ 0.24 B |
| Prudential Life Assurance | 25,026.95 | Bukalapak.com | $ 0.21 B |
| Bank Danamon Indonesia | 21,740.57 | Bank Jago | $ 88.89 M |
| Bank CIMB Niaga | 21,412.99 | Nusantara Pelabuhan Handal | $ 86.69 M |
