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Indonesian (IDX) Telecom Sector Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies45
  • 7D1.5%
  • 3M2.6%
  • 1Y40.5%
  • YTD-17.4%

Over the last 7 days, the Telecom industry has dropped 7.9%, driven by PT.MD Entertainment declining 22%. On the other hand Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is actually up 6.0%. This takes the industry's 12 month performance to a gain of 39%. As for the next few years, earnings are expected to grow by 18% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Feb 2026Rp1145.8tRp367.0tRp39.1t22x29.3x3.1x
Sat, 10 Jan 2026Rp1428.0tRp367.0tRp39.1t24.6x36.5x3.9x
Mon, 08 Dec 2025Rp1332.7tRp366.7tRp39.1t23.6x34.1x3.6x
Wed, 05 Nov 2025Rp1028.3tRp364.4tRp47.1t21.4x21.8x2.8x
Fri, 03 Oct 2025Rp969.2tRp363.0tRp46.8t24.4x20.7x2.7x
Sun, 31 Aug 2025Rp947.4tRp362.8tRp46.9t25.9x20.2x2.6x
Tue, 29 Jul 2025Rp841.5tRp360.8tRp40.7t22.4x20.7x2.3x
Thu, 26 Jun 2025Rp829.0tRp362.4tRp41.9t19.3x19.8x2.3x
Sat, 24 May 2025Rp892.0tRp362.2tRp41.9t21.6x21.3x2.5x
Mon, 21 Apr 2025Rp811.5tRp362.5tRp38.3t21.4x21.2x2.2x
Wed, 19 Mar 2025Rp814.9tRp369.5tRp36.8t21.2x22.1x2.2x
Fri, 14 Feb 2025Rp801.8tRp368.6tRp36.4t21.7x22x2.2x
Sun, 12 Jan 2025Rp843.8tRp367.2tRp38.4t18.8x21.9x2.3x
Tue, 10 Dec 2024Rp867.9tRp366.2tRp38.2t21.8x22.7x2.4x
Thu, 07 Nov 2024Rp910.4tRp368.1tRp40.3t22.7x22.6x2.5x
Sat, 05 Oct 2024Rp949.3tRp368.1tRp40.8t20.7x23.3x2.6x
Mon, 02 Sep 2024Rp939.1tRp369.0tRp41.8t19.4x22.5x2.5x
Wed, 31 Jul 2024Rp871.1tRp367.9tRp41.0t21.7x21.2x2.4x
Fri, 28 Jun 2024Rp844.7tRp367.0tRp42.5t23x19.9x2.3x
Sun, 26 May 2024Rp852.2tRp367.0tRp42.3t20.1x20.1x2.3x
Tue, 23 Apr 2024Rp862.9tRp365.5tRp41.2t25.4x21x2.4x
Thu, 21 Mar 2024Rp963.1tRp373.1tRp39.4t25.6x24.5x2.6x
Sat, 17 Feb 2024Rp991.2tRp373.1tRp39.4t23.3x25.2x2.7x
Mon, 15 Jan 2024Rp995.2tRp368.7tRp38.8t27.2x25.6x2.7x
Wed, 13 Dec 2023Rp970.6tRp368.4tRp40.5t26.8x24x2.6x
Fri, 10 Nov 2023Rp919.2tRp368.1tRp41.0t26.6x22.4x2.5x
Sun, 08 Oct 2023Rp957.2tRp368.7tRp41.3t27.6x23.2x2.6x
Tue, 05 Sep 2023Rp968.7tRp368.9tRp41.5t31.2x23.3x2.6x
Thu, 03 Aug 2023Rp958.6tRp370.8tRp42.7t26.1x22.5x2.6x
Sat, 01 Jul 2023Rp958.6tRp364.1tRp44.1t29.3x21.8x2.6x
Mon, 29 May 2023Rp945.0tRp364.3tRp44.6t26.6x21.2x2.6x
Wed, 26 Apr 2023Rp957.0tRp360.1tRp48.3t18.9x19.8x2.7x
Fri, 24 Mar 2023Rp931.7tRp356.9tRp55.8t18.5x16.7x2.6x
Sun, 19 Feb 2023Rp935.7tRp351.9tRp55.9t16.2x16.8x2.7x
Price to Earnings Ratio

16.8x


Total Market Cap: Rp935.7tTotal Earnings: Rp55.9tTotal Revenue: Rp351.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 22.7x202420252026
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 28.0x which is higher than its 3-year average PE of 22.7x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 11% 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 Market2.25%
Telecom1.51%
Media6.62%
Telecom Services and Carriers2.55%
Wireless Telecom0.59%
Interactive Media and Services-3.21%
Entertainment-8.64%
Industry PE
  • Investors are most optimistic about the Entertainment industry, which is trading close to its 3-year average PE ratio of 114x.
    • Analysts are expecting annual earnings growth of 9.2%, which is higher than its past year's earnings growth of 1.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 58% over the next 5 years.
  • This is better than its past earnings decline of 17% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 6.6% 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
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.53k6.0%
+Rp19.8t		42.3%PE16.1x
MSIN MNC Digital EntertainmentRp470.0039.1%
+Rp8.0t		-21.7%PE62.8x
SCMA Surya Citra MediaRp308.0025.2%
+Rp3.9t		38.7%PE28.9x
LINK Link NetRp2.85k51.6%
+Rp2.7t		35.7%PS2.4x
ISAT Indosat Ooredoo HutchisonRp2.21k3.3%
+Rp2.3t		27.0%PE15.4x

Latest News

SCMA
Rp308.00
Surya Citra Media
7D
25.2%
1Y
38.7%
MDIA
Rp49.00
Intermedia Capital
7D
-10.9%
1Y
40.0%
TLKM
Rp3,530.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
6.0%
1Y
42.3%

TLKM: Infrastructure Spinoff And Streamlining Will Unlock Future Equity Value

Analysts have lifted their price target on Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to IDR 4,000 from IDR 3,400, citing expectations that the infrastructure spinoff and streamlining efforts could help surface additional value in the business. Analyst Commentary Bullish Takeaways Bullish analysts highlight the higher price target of IDR 4,000 as a reflection of what they see as underrecognized value tied to the planned infrastructure spinoff and streamlining plans.
EXCL
Rp3,010.00
XLSMART Telecom Sejahtera
7D
-2.9%
1Y
32.6%
TOWR
Rp525.00
Sarana Menara Nusantara
7D
-0.9%
1Y
-13.9%

TOWR: Share Buyback Plan Will Support A Bullish Long Term Outlook

Analysts have lifted their fair value estimate for Sarana Menara Nusantara from Rp1,095.94 to Rp1,108.45, citing updated views on discount rates, revenue growth, profit margins and future P/E assumptions. What's in the News The Board of Directors of PT Sarana Menara Nusantara Tbk.
BALI
Rp1,425.00
Bali Towerindo Sentra
7D
18.3%
1Y
1.8%
TBIG
Rp1,745.00
Tower Bersama Infrastructure
7D
-1.7%
1Y
-20.7%
FILM
Rp7,000.00
PT.MD Entertainment
7D
-21.6%
1Y
78.1%
DATA
Rp3,740.00
Remala Abadi
7D
-3.9%
1Y
320.2%
EMTK
Rp925.00
Elang Mahkota Teknologi
7D
3.9%
1Y
54.2%
MSIN
Rp470.00
MNC Digital Entertainment
7D
39.1%
1Y
-21.7%
ISAT
Rp2,210.00
Indosat Ooredoo Hutchison
7D
3.3%
1Y
27.0%

ISAT: Future Returns Will Likely Reflect Overvaluation Despite Slight Margin Improvement

Analysts have kept their fair value estimate for Indosat Ooredoo Hutchison steady at Rp2,000, citing only minor adjustments to revenue growth, profit margin and future P/E assumptions that do not materially change their overall view. Valuation Changes Fair Value Estimate: Kept unchanged at IDR2,000, with no revision to the overall valuation level.
LINK
Rp2,850.00
Link Net
7D
51.6%
1Y
35.7%
DNET
Rp9,075.00
Indoritel Makmur Internasional
7D
1.1%
1Y
-1.1%
MORA
Rp7,025.00
Mora Telematika Indonesia
7D
-2.4%
1Y
1,819.4%
VIVA
Rp38.00
Visi Media Asia
7D
-9.5%
1Y
100.0%