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Indonesian (IDX) Telecom Sector Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies45
  • 7D6.5%
  • 3M45.8%
  • 1Y64.4%
  • YTDn/a

Over the last 7 days, the Telecom industry has risen 6.5%, driven by gains from Mora Telematika Indonesia of 18%. In the last 12 months, the industry was up 64%. As for the next few years, earnings are expected to grow by 20% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026Rp1414.1tRp367.0tRp39.1t25.4x36.2x3.9x
Sun, 30 Nov 2025Rp1178.4tRp366.7tRp39.1t22.4x30.2x3.2x
Tue, 28 Oct 2025Rp974.7tRp363.0tRp46.9t23.1x20.8x2.7x
Thu, 25 Sep 2025Rp946.6tRp363.0tRp46.8t26.3x20.2x2.6x
Sat, 23 Aug 2025Rp925.2tRp360.7tRp49.0t21.1x18.9x2.6x
Mon, 21 Jul 2025Rp826.8tRp360.8tRp40.6t20.4x20.3x2.3x
Wed, 18 Jun 2025Rp861.5tRp362.4tRp41.9t20.4x20.5x2.4x
Fri, 16 May 2025Rp875.4tRp362.0tRp41.9t22.1x20.9x2.4x
Sun, 13 Apr 2025Rp774.9tRp375.1tRp35.6t19.9x21.8x2.1x
Tue, 11 Mar 2025Rp823.2tRp369.5tRp36.8t23.6x22.3x2.2x
Thu, 06 Feb 2025Rp831.6tRp367.9tRp37.7t20.1x22.1x2.3x
Sat, 04 Jan 2025Rp854.9tRp367.2tRp38.5t21.5x22.2x2.3x
Mon, 02 Dec 2024Rp845.2tRp366.2tRp38.2t21.5x22.1x2.3x
Wed, 30 Oct 2024Rp938.4tRp368.2tRp40.7t21.6x23.1x2.5x
Fri, 27 Sep 2024Rp991.5tRp368.9tRp41.7t21.1x23.8x2.7x
Sun, 25 Aug 2024Rp908.2tRp369.0tRp41.8t19.6x21.7x2.5x
Tue, 23 Jul 2024Rp840.2tRp365.1tRp40.4t21x20.8x2.3x
Thu, 20 Jun 2024Rp822.4tRp367.0tRp42.5t21.4x19.4x2.2x
Sat, 18 May 2024Rp862.9tRp365.1tRp42.0t20.7x20.6x2.4x
Mon, 15 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Wed, 13 Mar 2024Rp964.0tRp373.3tRp39.4t26.1x24.5x2.6x
Fri, 09 Feb 2024Rp976.1tRp370.8tRp38.8t26.4x25.2x2.6x
Sun, 07 Jan 2024Rp976.0tRp368.7tRp38.9t24.1x25.1x2.6x
Tue, 05 Dec 2023Rp968.0tRp368.6tRp40.8t27.2x23.7x2.6x
Thu, 02 Nov 2023Rp903.3tRp365.2tRp42.2t26x21.4x2.5x
Sat, 30 Sep 2023Rp955.0tRp368.8tRp41.4t28.4x23.1x2.6x
Mon, 28 Aug 2023Rp971.7tRp368.9tRp41.5t31.4x23.4x2.6x
Wed, 26 Jul 2023Rp950.3tRp364.1tRp44.1t26.5x21.6x2.6x
Fri, 23 Jun 2023Rp959.4tRp364.2tRp44.5t26.8x21.5x2.6x
Sun, 21 May 2023Rp933.0tRp364.3tRp44.2t25.5x21.1x2.6x
Tue, 18 Apr 2023Rp955.5tRp360.0tRp48.5t19x19.7x2.7x
Thu, 16 Mar 2023Rp925.4tRp356.7tRp56.0t18.4x16.5x2.6x
Sat, 11 Feb 2023Rp934.6tRp351.9tRp55.9t16.2x16.7x2.7x
Mon, 09 Jan 2023Rp929.1tRp342.1tRp55.8t16.6x16.6x2.7x
Price to Earnings Ratio

16.6x


Total Market Cap: Rp929.1tTotal Earnings: Rp55.8tTotal Revenue: Rp342.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 22x202420252026
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 36.2x which is higher than its 3-year average PE of 22.0x.
  • The 3-year average PS ratio of 2.5x is lower than the industry's current PS ratio of 3.9x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 11% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.4% per year.
  • This means that although more sales are being generated, 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 Market1.58%
Telecom6.52%
Entertainment17.69%
Telecom Services and Carriers6.72%
Interactive Media and Services4.68%
Media1.06%
Wireless Telecom-1.82%
Industry PE
  • Investors are most optimistic about the Entertainment industry which is trading above its 3-year average PE ratio of 110x.
    • Analysts are expecting annual earnings growth of 15.8%, which is higher than its past year's earnings growth of 1.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Media industry, expecting annual earnings growth of 63% over the next 5 years.
  • This is better than its past earnings decline of 9.1% 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
MORA Mora Telematika IndonesiaRp11.93k16.9%
+Rp40.8t		2,808.5%PE1011.3x
FILM PT.MD EntertainmentRp14.50k23.9%
+Rp27.7t		274.7%PS279.1x
TBIG Tower Bersama InfrastructureRp2.60k4.4%
+Rp2.5t		25.6%PE44.5x
DNET Indoritel Makmur InternasionalRp9.08k1.7%
+Rp2.1t		0.8%PE110.4x
MTEL Dayamitra TelekomunikasiRp660.003.1%
+Rp1.6t		0.8%PE25.4x

Latest News

MTEL
Rp660.00
Dayamitra Telekomunikasi
7D
3.1%
1Y
0.8%
TBIG
Rp2,600.00
Tower Bersama Infrastructure
7D
4.4%
1Y
25.6%
TLKM
Rp3,470.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
0.3%
1Y
26.2%

TLKM: Infrastructure Spinoff Execution Risks Will Likely Limit Future Upside Potential

Analysts have raised their fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from IDR 2,900 to about IDR 3,107, citing improving long term revenue growth and profit margin assumptions, as well as the potential capital unlock from ongoing infrastructure spinoff and streamlining initiatives. Analyst Commentary Recent rating and target price upgrades highlight growing confidence that the company can monetize its infrastructure assets and sustain mid single digit revenue growth.
EMTK
Rp1,100.00
Elang Mahkota Teknologi
7D
1.4%
1Y
109.5%
ISAT
Rp2,360.00
Indosat Ooredoo Hutchison
7D
-1.7%
1Y
-1.3%

ISAT: Future Returns Will Likely Be Capped By Margin Compression

Analysts have modestly raised their price target on Indosat Ooredoo Hutchison from IDR 1,882.77 to IDR 2,000.00, reflecting slightly stronger revenue growth expectations and a higher anticipated future price to earnings multiple, partly offset by a lower projected profit margin and discount rate. Valuation Changes The fair value estimate has increased slightly from IDR 1,882.77 to IDR 2,000.00, implying modest upside versus the previous target.
GHON
Rp1,640.00
Gihon Telekomunikasi Indonesia
7D
-0.9%
1Y
4.1%
MSIN
Rp416.00
MNC Digital Entertainment
7D
-1.0%
1Y
-52.2%
FILM
Rp14,500.00
PT.MD Entertainment
7D
23.9%
1Y
274.7%
MARI
Rp30.00
Mahaka Radio Integra
7D
-6.3%
1Y
-40.0%
DNET
Rp9,075.00
Indoritel Makmur Internasional
7D
1.7%
1Y
0.8%
NETV
Rp176.00
MDTV Media Technologies
7D
20.5%
1Y
61.5%
MORA
Rp11,925.00
Mora Telematika Indonesia
7D
16.9%
1Y
2,808.5%
DIGI
Rp34.00
Arkadia Digital Media
7D
-5.6%
1Y
126.7%