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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies44
  • 7D0.6%
  • 3M-31.3%
  • 1Y28.0%
  • YTD-29.6%

Last week, the Telecom industry hasn't moved much but MNC Digital Entertainment is up 61% in that time. The past year has been better, since the industry has gained 28% 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
Mon, 06 Apr 2026Rp978.6tRp372.7tRp39.8t21.4x24.6x2.6x
Wed, 04 Mar 2026Rp1087.1tRp371.0tRp37.6t20.6x28.9x2.9x
Fri, 30 Jan 2026Rp1349.2tRp367.0tRp39.1t21.9x34.5x3.7x
Sun, 28 Dec 2025Rp1327.6tRp367.0tRp39.1t24.4x34x3.6x
Tue, 25 Nov 2025Rp1181.4tRp366.7tRp39.1t22.4x30.2x3.2x
Thu, 23 Oct 2025Rp991.4tRp363.0tRp46.9t24.5x21.2x2.7x
Sat, 20 Sep 2025Rp963.6tRp363.0tRp46.8t26.1x20.6x2.7x
Mon, 18 Aug 2025Rp919.7tRp360.7tRp49.0t21.1x18.8x2.5x
Wed, 16 Jul 2025Rp792.9tRp360.8tRp40.6t18.5x19.5x2.2x
Fri, 13 Jun 2025Rp875.0tRp362.4tRp41.9t20.6x20.9x2.4x
Sun, 11 May 2025Rp861.7tRp361.8tRp42.0t21.1x20.5x2.4x
Tue, 08 Apr 2025Rp804.7tRp374.9tRp35.8t21.3x22.5x2.1x
Thu, 06 Mar 2025Rp835.2tRp369.3tRp36.8t23.2x22.7x2.3x
Sat, 01 Feb 2025Rp840.6tRp367.9tRp37.7t19.8x22.3x2.3x
Mon, 30 Dec 2024Rp849.7tRp367.2tRp38.5t22.2x22.1x2.3x
Wed, 27 Nov 2024Rp898.5tRp368.0tRp39.3t23.1x22.9x2.4x
Fri, 25 Oct 2024Rp955.0tRp368.2tRp40.7t21.9x23.4x2.6x
Sun, 22 Sep 2024Rp982.9tRp368.9tRp41.7t20.9x23.6x2.7x
Tue, 20 Aug 2024Rp911.9tRp369.0tRp41.8t17.8x21.8x2.5x
Thu, 18 Jul 2024Rp856.7tRp365.1tRp40.4t21.1x21.2x2.3x
Sat, 15 Jun 2024Rp829.4tRp367.0tRp42.5t20.6x19.5x2.3x
Mon, 13 May 2024Rp866.9tRp365.1tRp42.0t21.5x20.6x2.4x
Wed, 10 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Fri, 08 Mar 2024Rp967.2tRp373.1tRp39.4t24.8x24.6x2.6x
Sun, 04 Feb 2024Rp989.4tRp370.8tRp38.8t26.5x25.5x2.7x
Tue, 02 Jan 2024Rp978.7tRp368.4tRp40.5t26.1x24.2x2.7x
Thu, 30 Nov 2023Rp964.5tRp368.6tRp41.0t27.7x23.5x2.6x
Sat, 28 Oct 2023Rp900.1tRp368.7tRp41.2t26.4x21.8x2.4x
Mon, 25 Sep 2023Rp965.1tRp368.8tRp41.4t28.5x23.3x2.6x
Wed, 23 Aug 2023Rp976.8tRp368.9tRp41.5t31.3x23.5x2.6x
Fri, 21 Jul 2023Rp949.4tRp364.1tRp44.1t26.5x21.6x2.6x
Sun, 18 Jun 2023Rp961.7tRp364.2tRp44.6t26.2x21.6x2.6x
Tue, 16 May 2023Rp928.8tRp364.2tRp44.5t22.1x20.9x2.6x
Thu, 13 Apr 2023Rp955.3tRp359.9tRp47.5t17.1x20.1x2.7x
Price to Earnings Ratio

20.1x


Total Market Cap: Rp955.3tTotal Earnings: Rp47.5tTotal Revenue: Rp359.9tTotal 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 5.8% 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 Market-1.79%
Telecom0.65%
Entertainment22.68%
Wireless Telecom0.80%
Interactive Media and Services0.65%
Telecom Services and Carriers-0.97%
Media-5.29%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 27.6x.
    • Analysts are expecting annual earnings growth of 46.6%, 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 47% 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 EntertainmentRp970.0065.8%
+Rp23.4t		73.2%PE60.4x
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.16k3.9%
+Rp11.9t		31.1%PE14.4x
EXCL XLSMART Telecom SejahteraRp2.90k1.8%
+Rp910.0b		27.2%PS1.2x
MNCN PT. Media Nusantara CitraRp232.0011.5%
+Rp317.5b		-7.9%PE2.3x
SCMA Surya Citra MediaRp260.001.6%
+Rp254.0b		30.0%PE21.4x

Latest News

MNCN
Rp232.00
PT. Media Nusantara Citra
7D
11.5%
1Y
-7.9%
BHIT
Rp34.00
MNC Asia Holding
7D
6.3%
1Y
41.7%
MSIN
Rp970.00
MNC Digital Entertainment
7D
65.8%
1Y
73.2%
FILM
Rp3,020.00
PT.MD Entertainment
7D
-1.0%
1Y
6.3%
MORA
Rp3,800.00
Mora Telematika Indonesia
7D
-13.2%
1Y
817.9%
CENT
Rp93.00
Centratama Telekomunikasi Indonesia
7D
-7.0%
1Y
111.4%
EXCL
Rp2,900.00
XLSMART Telecom Sejahtera
7D
1.8%
1Y
27.2%

EXCL: Higher Growth Outlook And Firm P/E Support Future Upside Potential

Analysts have kept their IDR 4,500 price target for XLSMART Telecom Sejahtera unchanged, explaining the steady view as a balance between higher assumed revenue growth of 9.02% and a lower profit margin estimate of 13.57%, which now feeds into an 18.91x future P/E assumption. Valuation Changes Fair Value: IDR 4,500 remains unchanged, indicating no revision to the central price estimate.
DATA
Rp1,855.00
Remala Abadi
7D
-47.5%
1Y
76.7%
EMTK
Rp740.00
Elang Mahkota Teknologi
7D
-7.5%
1Y
35.8%
SCMA
Rp260.00
Surya Citra Media
7D
1.6%
1Y
30.0%
ISAT
Rp2,030.00
Indosat Ooredoo Hutchison
7D
-2.4%
1Y
39.5%

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.
TLKM
Rp3,160.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
3.9%
1Y
31.1%

TLKM: NeutraDC Stake Review And Governance Moves Will Shape Fairly Valued Outlook

Analysts have made a small upward adjustment to their IDR price target for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to IDR3,169.91 from IDR3,167.87, reflecting updated assumptions around revenue growth, profit margin, discount rate, and future P/E levels. What's in the News M&A discussions are underway as Telkom Indonesia considers selling a stake in its data center unit, NeutraDC.
FUTR
Rp244.00
Lini Imaji Kreasi Ekosistem
7D
11.9%
1Y
197.6%
LINK
Rp1,890.00
Link Net
7D
4.1%
1Y
5.9%
MTEL
Rp520.00
Dayamitra Telekomunikasi
7D
-1.9%
1Y
-8.0%
DNET
Rp8,900.00
Indoritel Makmur Internasional
7D
-1.9%
1Y
-3.3%