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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies44
  • 7D1.7%
  • 3M-31.6%
  • 1Y40.0%
  • YTD-27.8%

Last week, the Telecom industry hasn't moved much but MNC Digital Entertainment is up 42% in that time. The past year has been better, since the industry has gained 36% in that time. As for the next few years, earnings are expected to grow by 15% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 09 Apr 2026Rp1012.4tRp372.7tRp39.7t22.1x25.5x2.7x
Sat, 07 Mar 2026Rp1016.3tRp371.0tRp37.6t20.4x27x2.7x
Mon, 02 Feb 2026Rp1337.6tRp367.0tRp39.1t22.1x34.2x3.6x
Wed, 31 Dec 2025Rp1414.1tRp367.0tRp39.1t25.4x36.2x3.9x
Fri, 28 Nov 2025Rp1179.4tRp366.7tRp39.1t23x30.2x3.2x
Sun, 26 Oct 2025Rp985.7tRp363.0tRp46.9t23.2x21x2.7x
Tue, 23 Sep 2025Rp959.8tRp363.0tRp46.8t26x20.5x2.6x
Thu, 21 Aug 2025Rp928.0tRp360.7tRp49.0t21.1x18.9x2.6x
Sat, 19 Jul 2025Rp824.1tRp360.8tRp40.6t20.4x20.3x2.3x
Mon, 16 Jun 2025Rp869.0tRp362.4tRp41.9t20.4x20.7x2.4x
Wed, 14 May 2025Rp861.7tRp362.0tRp41.9t22x20.6x2.4x
Fri, 11 Apr 2025Rp782.2tRp375.1tRp35.6t20.4x22x2.1x
Sun, 09 Mar 2025Rp830.6tRp369.5tRp36.8t22.9x22.5x2.2x
Tue, 04 Feb 2025Rp832.1tRp367.9tRp37.7t19.9x22.1x2.3x
Thu, 02 Jan 2025Rp851.4tRp367.2tRp38.5t21.9x22.1x2.3x
Sat, 30 Nov 2024Rp895.0tRp368.0tRp39.3t22.7x22.8x2.4x
Mon, 28 Oct 2024Rp942.0tRp368.2tRp40.7t21.7x23.1x2.6x
Wed, 25 Sep 2024Rp986.6tRp368.9tRp41.7t20.9x23.7x2.7x
Fri, 23 Aug 2024Rp901.9tRp369.0tRp41.8t19.2x21.6x2.4x
Sun, 21 Jul 2024Rp840.0tRp365.1tRp40.4t20.5x20.8x2.3x
Tue, 18 Jun 2024Rp810.9tRp367.0tRp42.5t20.6x19.1x2.2x
Thu, 16 May 2024Rp875.8tRp365.2tRp42.0t23.1x20.8x2.4x
Sat, 13 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Mon, 11 Mar 2024Rp964.0tRp373.3tRp39.4t26.1x24.5x2.6x
Wed, 07 Feb 2024Rp983.9tRp370.8tRp38.8t27.2x25.4x2.7x
Fri, 05 Jan 2024Rp983.4tRp368.7tRp38.9t24x25.3x2.7x
Sun, 03 Dec 2023Rp971.2tRp368.6tRp40.8t27.2x23.8x2.6x
Tue, 31 Oct 2023Rp906.5tRp368.7tRp41.2t26.1x22x2.5x
Thu, 28 Sep 2023Rp948.9tRp368.8tRp41.4t28.2x22.9x2.6x
Sat, 26 Aug 2023Rp968.3tRp368.9tRp41.5t31.4x23.3x2.6x
Mon, 24 Jul 2023Rp951.1tRp364.1tRp44.1t26.5x21.6x2.6x
Wed, 21 Jun 2023Rp953.0tRp364.2tRp44.5t24.4x21.4x2.6x
Fri, 19 May 2023Rp927.0tRp364.3tRp44.2t25.2x21x2.5x
Sun, 16 Apr 2023Rp962.4tRp360.0tRp48.5t18.5x19.9x2.7x
Price to Earnings Ratio

19.9x


Total Market Cap: Rp962.4tTotal Earnings: Rp48.5tTotal Revenue: Rp360.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23.2x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indonesian Communication Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 23.2x.
  • 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 6.4% 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 Market0.83%
Telecom1.69%
Entertainment16.42%
Wireless Telecom3.63%
Media2.94%
Telecom Services and Carriers-0.72%
Interactive Media and Services-8.97%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 27.8x.
    • Analysts are expecting annual earnings growth of 46.1%, 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 46% 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 6.5% 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
MSIN MNC Digital EntertainmentRp950.0041.8%
+Rp17.0t		114.0%PE59.1x
ISAT Indosat Ooredoo HutchisonRp2.17k3.3%
+Rp2.3t		60.7%PE12.7x
EXCL XLSMART Telecom SejahteraRp3.12k4.0%
+Rp2.2t		38.7%PS1.3x
EMTK Elang Mahkota TeknologiRp785.003.3%
+Rp1.5t		63.5%PE7.1x
IBST Inti Bangun SejahteraRp5.30k17.8%
+Rp1.1t		n/aPE17.4x

Latest News

EMTK
Rp785.00
Elang Mahkota Teknologi
7D
3.3%
1Y
63.5%
TLKM
Rp3,160.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
0.3%
1Y
36.2%

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.
DATA
Rp1,920.00
Remala Abadi
7D
-25.0%
1Y
82.0%
IBST
Rp5,300.00
Inti Bangun Sejahtera
7D
17.8%
1Y
n/a
TOWR
Rp496.00
Sarana Menara Nusantara
7D
-0.4%
1Y
6.0%
EXCL
Rp3,120.00
XLSMART Telecom Sejahtera
7D
4.0%
1Y
38.7%
BHIT
Rp33.00
MNC Asia Holding
7D
-2.9%
1Y
50.0%
MSIN
Rp950.00
MNC Digital Entertainment
7D
41.8%
1Y
114.0%
FILM
Rp2,790.00
PT.MD Entertainment
7D
-9.7%
1Y
35.4%
TBIG
Rp1,680.00
Tower Bersama Infrastructure
7D
2.4%
1Y
-11.6%
MORA
Rp4,350.00
Mora Telematika Indonesia
7D
-5.0%
1Y
993.0%
CENT
Rp97.00
Centratama Telekomunikasi Indonesia
7D
-4.0%
1Y
67.2%
SCMA
Rp280.00
Surya Citra Media
7D
2.9%
1Y
52.2%
ISAT
Rp2,170.00
Indosat Ooredoo Hutchison
7D
3.3%
1Y
60.7%

ISAT: Higher Margin Assumptions Will Support Future Upside Potential

Analysts have nudged their price target for Indosat Ooredoo Hutchison slightly higher to IDR 2,739 from IDR 2,730, citing updated assumptions around revenue growth, profit margins and future P/E. Together, these factors point to a modest adjustment in fair value rather than a major shift in the outlook.
MTEL
Rp530.00
Dayamitra Telekomunikasi
7D
-0.9%
1Y
6.9%
DNET
Rp9,100.00
Indoritel Makmur Internasional
7D
-0.8%
1Y
-4.0%