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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies44
  • 7D-0.7%
  • 3M-22.5%
  • 1Y34.3%
  • YTD-25.0%

Last week, the Telecom industry hasn't moved much but Mora Telematika Indonesia is up 23% in that time. As for the the longer term, the industry is up 35% over the past 12 months. As for the next few years, earnings are expected to grow by 17% per annum.

Sector Valuation and Performance

Has the Indonesian Telecom Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026Rp1051.6tRp373.0tRp39.9t24.2x26.4x2.8x
Thu, 19 Mar 2026Rp972.2tRp371.1tRp37.7t20.4x25.8x2.6x
Sat, 14 Feb 2026Rp1126.9tRp368.3tRp40.0t22.1x28.2x3.1x
Mon, 12 Jan 2026Rp1428.0tRp367.0tRp39.1t24.6x36.5x3.9x
Wed, 10 Dec 2025Rp1373.0tRp366.7tRp39.1t24.7x35.1x3.7x
Fri, 07 Nov 2025Rp1039.4tRp363.3tRp40.5t21.3x25.7x2.9x
Sun, 05 Oct 2025Rp966.7tRp363.0tRp46.8t24.1x20.6x2.7x
Tue, 02 Sep 2025Rp935.7tRp362.8tRp46.9t26.7x20x2.6x
Thu, 31 Jul 2025Rp843.4tRp361.1tRp40.9t22x20.6x2.3x
Sat, 28 Jun 2025Rp844.1tRp362.4tRp41.9t19.6x20.1x2.3x
Mon, 26 May 2025Rp877.7tRp362.2tRp41.9t21.6x21x2.4x
Wed, 23 Apr 2025Rp808.9tRp362.5tRp38.3t21x21.1x2.2x
Fri, 21 Mar 2025Rp820.4tRp370.7tRp36.9t21.8x22.3x2.2x
Sun, 16 Feb 2025Rp815.2tRp367.5tRp35.8t22x22.8x2.2x
Tue, 14 Jan 2025Rp839.6tRp367.2tRp38.4t19x21.8x2.3x
Thu, 12 Dec 2024Rp881.0tRp366.2tRp38.2t21.8x23.1x2.4x
Sat, 09 Nov 2024Rp910.0tRp368.1tRp40.3t22.7x22.6x2.5x
Mon, 07 Oct 2024Rp949.3tRp368.0tRp40.7t20.7x23.3x2.6x
Wed, 04 Sep 2024Rp948.3tRp369.0tRp41.8t19.6x22.7x2.6x
Fri, 02 Aug 2024Rp858.0tRp369.4tRp41.5t21.7x20.7x2.3x
Sun, 30 Jun 2024Rp865.8tRp367.0tRp42.5t22.3x20.4x2.4x
Tue, 28 May 2024Rp851.8tRp367.0tRp42.3t20.7x20.1x2.3x
Thu, 25 Apr 2024Rp865.4tRp365.5tRp41.2t24.5x21x2.4x
Sat, 23 Mar 2024Rp958.3tRp373.1tRp39.4t26.3x24.4x2.6x
Mon, 19 Feb 2024Rp991.2tRp373.1tRp39.4t23.3x25.2x2.7x
Wed, 17 Jan 2024Rp995.0tRp368.7tRp38.8t27.6x25.6x2.7x
Fri, 15 Dec 2023Rp975.9tRp368.4tRp40.5t26.3x24.1x2.6x
Sun, 12 Nov 2023Rp917.0tRp368.0tRp41.0t26.9x22.4x2.5x
Tue, 10 Oct 2023Rp957.6tRp368.7tRp41.3t27.7x23.2x2.6x
Thu, 07 Sep 2023Rp977.7tRp368.9tRp41.5t31.1x23.6x2.7x
Sat, 05 Aug 2023Rp954.3tRp370.0tRp42.0t25.9x22.7x2.6x
Mon, 03 Jul 2023Rp958.6tRp364.1tRp44.1t26.3x21.8x2.6x
Wed, 31 May 2023Rp951.5tRp364.3tRp44.6t24.6x21.3x2.6x
Fri, 28 Apr 2023Rp960.0tRp360.1tRp48.3t18.9x19.9x2.7x
Price to Earnings Ratio

19.9x


Total Market Cap: Rp960.0tTotal Earnings: Rp48.3tTotal Revenue: Rp360.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23.3x202420252026
Current Industry PE
  • Investors are optimistic on the Indonesian Communication Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 26.7x which is higher than its 3-year average PE of 23.3x.
  • The industry is trading close to its 3-year average PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 6.2% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Indonesian Telecom sector?

ID Market1.38%
Telecom-0.75%
Interactive Media and Services4.58%
Media3.58%
Telecom Services and Carriers2.96%
Wireless Telecom-1.78%
Entertainment-23.80%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 28.9x.
    • Analysts are expecting annual earnings growth of 49.3%, which is higher than its past year's earnings growth of 12.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 49% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 6.8% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MORA Mora Telematika IndonesiaRp5.63k22.8%
+Rp24.7t		1,184.2%PE296.6x
IBST Inti Bangun SejahteraRp8.48k32.4%
+Rp2.8t		56.9%PE27.8x
MDIA Intermedia CapitalRp120.00122.2%
+Rp2.6t		300.0%PS7.2x
EXCL XLSMART Telecom SejahteraRp3.20k2.9%
+Rp1.6t		50.9%PS1.4x
TBIG Tower Bersama InfrastructureRp1.79k3.2%
+Rp1.2t		-9.6%PE28.3x

Latest News

DATA
Rp2,280.00
Remala Abadi
7D
-7.7%
1Y
126.9%
TOWR
Rp498.00
Sarana Menara Nusantara
7D
2.5%
1Y
-6.9%

TOWR: Share Buyback And Stronger Margins Will Support Future Upside

Analysts have adjusted their price target on Sarana Menara Nusantara to IDR1,025 from IDR1,108. This revision reflects updated assumptions that include a slightly higher discount rate, more moderate revenue growth, stronger profit margins and a lower future P/E multiple.
CNMA
Rp105.00
Nusantara Sejahtera Raya
7D
-6.3%
1Y
-10.3%
EXCL
Rp3,200.00
XLSMART Telecom Sejahtera
7D
2.9%
1Y
50.9%

EXCL: Steady Assumptions Will Guide Balanced View On Prospects

Analysts keep the fair value estimate for XLSMART Telecom Sejahtera steady at IDR 3,149.75 per share, citing essentially unchanged assumptions for the discount rate, revenue growth, profit margin, and future P/E relative to prior research. Valuation Changes Fair Value: IDR 3,149.75 per share, unchanged from the prior estimate.
MSIN
Rp905.00
MNC Digital Entertainment
7D
-31.4%
1Y
81.0%
MORA
Rp5,625.00
Mora Telematika Indonesia
7D
22.8%
1Y
1,184.2%
BMTR
Rp186.00
Global Mediacom
7D
20.0%
1Y
39.8%
WIFI
Rp2,480.00
Solusi Sinergi Digital
7D
4.2%
1Y
13.2%
EMTK
Rp915.00
Elang Mahkota Teknologi
7D
-1.1%
1Y
79.4%
IBST
Rp8,475.00
Inti Bangun Sejahtera
7D
32.4%
1Y
56.9%
ISAT
Rp2,020.00
Indosat Ooredoo Hutchison
7D
-5.6%
1Y
20.2%

ISAT: Future Returns Will Likely Track Fair Value With Adjusted Margin Expectations

Analysts have nudged their fair value estimate for Indosat Ooredoo Hutchison slightly higher to IDR 2,042.63 from IDR 2,040.32, reflecting updated assumptions around revenue growth, profit margin and future P/E. Valuation Changes Fair Value: IDR 2,042.63, marginally above the previous IDR 2,040.32 estimate.
TLKM
Rp3,100.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-2.8%
1Y
20.6%

TLKM: NeutraDC Stake Talks And Governance Events Will Shape Fairly Valued Outlook

Analysts now see Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's fair value holding at IDR 3,169.91, with the modest shifts in discount rate, revenue growth and profit margin assumptions resulting in only a slight tweak in the implied future P/E outlook. What's in the News M&A discussions are ongoing around a potential sale of a majority stake in Telkom Indonesia's data center unit, NeutraDC.
FILM
Rp2,570.00
PT.MD Entertainment
7D
-14.0%
1Y
13.7%
TBIG
Rp1,785.00
Tower Bersama Infrastructure
7D
3.2%
1Y
-9.6%
MDIA
Rp120.00
Intermedia Capital
7D
122.2%
1Y
300.0%
DNET
Rp9,200.00
Indoritel Makmur Internasional
7D
-0.3%
1Y
-1.1%