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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 16, 2026
DataAggregated Company Financials
Companies44
  • 7D4.6%
  • 3M-21.9%
  • 1Y37.0%
  • YTD-24.5%

Over the last 7 days, the Telecom industry has risen 9.9%, driven by gains from Mora Telematika Indonesia of 31%. This takes the industry's 12 month performance to a gain of 39%. Looking forward, earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 16 Apr 2026Rp1058.9tRp373.0tRp39.7t23.2x26.6x2.8x
Sat, 14 Mar 2026Rp935.9tRp371.1tRp37.7t19.6x24.8x2.5x
Mon, 09 Feb 2026Rp1054.4tRp367.0tRp39.1t21.4x27x2.9x
Wed, 07 Jan 2026Rp1422.8tRp367.0tRp39.1t25.2x36.4x3.9x
Fri, 05 Dec 2025Rp1288.0tRp366.7tRp39.1t23.3x33x3.5x
Sun, 02 Nov 2025Rp993.1tRp363.1tRp45.2t22.3x22x2.7x
Tue, 30 Sep 2025Rp947.2tRp363.0tRp46.8t24.8x20.2x2.6x
Thu, 28 Aug 2025Rp947.5tRp361.0tRp49.1t23.9x19.3x2.6x
Sat, 26 Jul 2025Rp833.2tRp360.8tRp40.7t22.4x20.5x2.3x
Mon, 23 Jun 2025Rp835.1tRp362.4tRp41.9t19.1x19.9x2.3x
Wed, 21 May 2025Rp880.9tRp362.2tRp41.9t21.5x21x2.4x
Fri, 18 Apr 2025Rp811.5tRp362.8tRp37.3t21.4x21.8x2.2x
Sun, 16 Mar 2025Rp829.6tRp369.4tRp36.8t22.7x22.5x2.2x
Tue, 11 Feb 2025Rp796.1tRp368.4tRp37.9t20.9x21x2.2x
Thu, 09 Jan 2025Rp843.3tRp367.2tRp38.4t19.5x21.9x2.3x
Sat, 07 Dec 2024Rp867.2tRp366.2tRp38.2t22.2x22.7x2.4x
Mon, 04 Nov 2024Rp925.5tRp366.8tRp40.3t23x23x2.5x
Wed, 02 Oct 2024Rp963.8tRp368.0tRp41.8t21.3x23x2.6x
Fri, 30 Aug 2024Rp926.7tRp369.0tRp41.8t20.3x22.2x2.5x
Sun, 28 Jul 2024Rp877.8tRp367.3tRp41.6t20.9x21.1x2.4x
Tue, 25 Jun 2024Rp850.6tRp367.0tRp42.5t22.6x20x2.3x
Thu, 23 May 2024Rp852.2tRp367.0tRp42.3t20.1x20.1x2.3x
Sat, 20 Apr 2024Rp878.0tRp364.1tRp41.5t25x21.1x2.4x
Mon, 18 Mar 2024Rp967.4tRp373.3tRp39.4t26.1x24.6x2.6x
Wed, 14 Feb 2024Rp976.9tRp372.2tRp39.2t26.5x24.9x2.6x
Fri, 12 Jan 2024Rp993.7tRp368.7tRp38.8t29.1x25.6x2.7x
Sun, 10 Dec 2023Rp971.8tRp368.4tRp40.5t26.7x24x2.6x
Tue, 07 Nov 2023Rp919.1tRp368.0tRp41.0t26.3x22.4x2.5x
Thu, 05 Oct 2023Rp957.5tRp368.8tRp41.4t27.8x23.1x2.6x
Sat, 02 Sep 2023Rp973.1tRp368.9tRp41.5t30.6x23.4x2.6x
Mon, 31 Jul 2023Rp933.6tRp364.7tRp43.2t26.3x21.6x2.6x
Wed, 28 Jun 2023Rp958.6tRp364.1tRp44.1t29.3x21.8x2.6x
Fri, 26 May 2023Rp932.6tRp364.3tRp44.6t27x20.9x2.6x
Sun, 23 Apr 2023Rp957.0tRp360.1tRp48.3t18.9x19.8x2.7x
Price to Earnings Ratio

19.8x


Total Market Cap: Rp957.0tTotal 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 27.0x which is higher than its 3-year average PE of 23.3x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 6.3% 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 Market6.64%
Telecom4.59%
Interactive Media and Services13.38%
Media12.27%
Telecom Services and Carriers4.90%
Entertainment2.49%
Wireless Telecom-1.54%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 28.5x.
    • Analysts are expecting annual earnings growth of 48.3%, 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 48% 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 IndonesiaRp5.70k31.0%
+Rp31.9t		1,250.7%PE300.5x
EMTK Elang Mahkota TeknologiRp920.0017.2%
+Rp8.3t		85.5%PE8.3x
DNET Indoritel Makmur InternasionalRp9.38k3.0%
+Rp3.9t		-0.8%PE114.1x
FILM PT.MD EntertainmentRp2.97k6.5%
+Rp2.0t		25.8%PS65.1x
TBIG Tower Bersama InfrastructureRp1.76k4.8%
+Rp1.8t		-10.9%PE27.9x

Latest News

ABBA
Rp41.00
Mahaka Media
7D
-4.7%
1Y
115.8%
MORA
Rp5,700.00
Mora Telematika Indonesia
7D
31.0%
1Y
1,250.7%
EMTK
Rp920.00
Elang Mahkota Teknologi
7D
17.2%
1Y
85.5%
IBST
Rp6,400.00
Inti Bangun Sejahtera
7D
20.8%
1Y
29.6%
ISAT
Rp2,070.00
Indosat Ooredoo Hutchison
7D
-4.6%
1Y
29.8%

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
Rp3,090.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-2.2%
1Y
24.6%

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.
EXCL
Rp3,190.00
XLSMART Telecom Sejahtera
7D
2.2%
1Y
45.7%
FILM
Rp2,970.00
PT.MD Entertainment
7D
6.5%
1Y
25.8%
TBIG
Rp1,760.00
Tower Bersama Infrastructure
7D
4.8%
1Y
-10.9%
RAAM
Rp232.00
Tripar Multivision Plus
7D
-1.7%
1Y
-19.4%
MARI
Rp28.00
Mahaka Radio Integra
7D
-3.4%
1Y
-44.0%
MDIA
Rp76.00
Intermedia Capital
7D
52.0%
1Y
162.1%
LINK
Rp1,970.00
Link Net
7D
-0.8%
1Y
1.5%
DNET
Rp9,375.00
Indoritel Makmur Internasional
7D
3.0%
1Y
-0.8%