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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.4%
  • 3M-3.6%
  • 1Y45.1%
  • YTD-17.4%

Over the last 7 days, the Telecom industry has dropped 1.4%, driven by a pullback from Mora Telematika Indonesia of 16%. In contrast, PT.MD Entertainment has gained 12%. In the past year, the industry has gained 45%. 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
Sun, 01 Mar 2026Rp1148.3tRp371.0tRp37.6t21.2x30.5x3.1x
Tue, 27 Jan 2026Rp1499.9tRp367.0tRp39.1t23.6x38.4x4.1x
Thu, 25 Dec 2025Rp1327.6tRp367.0tRp39.1t24.4x34x3.6x
Sat, 22 Nov 2025Rp1146.1tRp366.7tRp39.1t22.1x29.3x3.1x
Mon, 20 Oct 2025Rp927.8tRp363.0tRp46.8t24x19.8x2.6x
Wed, 17 Sep 2025Rp963.5tRp362.7tRp46.8t26.1x20.6x2.7x
Fri, 15 Aug 2025Rp939.0tRp360.7tRp49.0t21.1x19.1x2.6x
Sun, 13 Jul 2025Rp804.4tRp360.8tRp40.6t18.4x19.8x2.2x
Tue, 10 Jun 2025Rp883.8tRp362.4tRp41.9t20.8x21.1x2.4x
Thu, 08 May 2025Rp877.5tRp362.4tRp42.1t23.2x20.8x2.4x
Sat, 05 Apr 2025Rp804.7tRp374.9tRp35.8t21.3x22.5x2.1x
Mon, 03 Mar 2025Rp823.0tRp369.3tRp36.8t22.5x22.4x2.2x
Wed, 29 Jan 2025Rp848.8tRp367.9tRp37.7t20x22.5x2.3x
Fri, 27 Dec 2024Rp844.9tRp367.2tRp38.5t20.3x22x2.3x
Sun, 24 Nov 2024Rp900.7tRp368.0tRp39.3t23x22.9x2.4x
Tue, 22 Oct 2024Rp966.3tRp368.3tRp40.8t21.3x23.7x2.6x
Thu, 19 Sep 2024Rp983.8tRp368.9tRp41.7t21.1x23.6x2.7x
Sat, 17 Aug 2024Rp893.7tRp368.6tRp41.8t19.8x21.4x2.4x
Mon, 15 Jul 2024Rp895.0tRp367.0tRp41.5t21.7x21.6x2.4x
Wed, 12 Jun 2024Rp849.3tRp367.0tRp42.5t20.8x20x2.3x
Fri, 10 May 2024Rp866.9tRp365.5tRp42.0t23.2x20.6x2.4x
Sun, 07 Apr 2024Rp865.2tRp361.9tRp40.2t26.3x21.5x2.4x
Tue, 05 Mar 2024Rp977.6tRp373.1tRp39.4t26.4x24.8x2.6x
Thu, 01 Feb 2024Rp983.8tRp368.7tRp38.8t26.6x25.3x2.7x
Sat, 30 Dec 2023Rp978.7tRp368.4tRp40.5t26.1x24.2x2.7x
Mon, 27 Nov 2023Rp941.9tRp368.6tRp41.0t27.1x23x2.6x
Wed, 25 Oct 2023Rp922.0tRp368.8tRp41.2t26.6x22.4x2.5x
Fri, 22 Sep 2023Rp957.1tRp368.8tRp41.4t28x23.1x2.6x
Sun, 20 Aug 2023Rp974.3tRp368.8tRp41.5t30.3x23.5x2.6x
Tue, 18 Jul 2023Rp958.6tRp364.1tRp44.1t26.1x21.8x2.6x
Thu, 15 Jun 2023Rp957.9tRp364.2tRp44.6t26.1x21.5x2.6x
Sat, 13 May 2023Rp942.9tRp364.6tRp44.5t20.3x21.2x2.6x
Mon, 10 Apr 2023Rp952.5tRp359.9tRp47.5t17.2x20.1x2.6x
Wed, 08 Mar 2023Rp940.4tRp356.4tRp55.8t17.2x16.9x2.6x
Price to Earnings Ratio

16.9x


Total Market Cap: Rp940.4tTotal Earnings: Rp55.8tTotal Revenue: Rp356.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 22.9x202420252026
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 30.5x which is higher than its 3-year average PE of 22.9x.
  • The 3-year average PS ratio of 2.6x is lower than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 12% 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-0.88%
Telecom-1.37%
Entertainment13.88%
Wireless Telecom1.95%
Interactive Media and Services-2.93%
Telecom Services and Carriers-3.57%
Media-5.66%
Industry PE
  • Investors are most optimistic about the Entertainment industry which is trading above its 3-year average PE ratio of 115x.
    • 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 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 6.6% 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
FILM PT.MD EntertainmentRp8.40k12.0%
+Rp8.9t		135.3%PS161.7x
MSIN MNC Digital EntertainmentRp640.0025.5%
+Rp7.9t		-17.9%PE85.5x
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.54k1.7%
+Rp5.9t		50.6%PE16.1x
ISAT Indosat Ooredoo HutchisonRp2.31k2.2%
+Rp1.6t		56.1%PE13.5x
EXCL XLSMART Telecom SejahteraRp3.17k1.6%
+Rp910.0b		43.4%PS1.4x

Latest News

MSIN
Rp640.00
MNC Digital Entertainment
7D
25.5%
1Y
-17.9%
EXCL
Rp3,170.00
XLSMART Telecom Sejahtera
7D
1.6%
1Y
43.4%
ISAT
Rp2,310.00
Indosat Ooredoo Hutchison
7D
2.2%
1Y
56.1%

ISAT: Lower Discount Rate And Higher Margin Assumptions Will Support Upside Potential

Analysts have adjusted their price target for Indosat Ooredoo Hutchison from IDR 2,641.90 to IDR 2,729.72, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Valuation Changes Fair Value: IDR 2,641.90 to IDR 2,729.72, indicating a modest upward revision in the estimated equity value.
TLKM
Rp3,540.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
1.7%
1Y
50.6%

TLKM: Governance Changes And Share Buybacks Will Shape Fairly Valued Outlook

Analysts have slightly raised their IDR fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from IDR 3,106.86 to IDR 3,167.87, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E levels. What's in the News The company approved amendments to its Articles of Association at an Extraordinary General Meeting held on December 12, 2025, signaling changes to its formal governance framework (Key Developments).
TOWR
Rp505.00
Sarana Menara Nusantara
7D
-1.9%
1Y
-2.9%

TOWR: Share Buyback Plan Will Support A Higher Future Market Rating

Analysts have adjusted their price target on Sarana Menara Nusantara to reflect updated assumptions on discount rate, revenue growth, profit margin, and future P/E. This has resulted in a revised fair value estimate of IDR 1,108.45.
SCMA
Rp276.00
Surya Citra Media
7D
-9.8%
1Y
45.3%
MDIA
Rp84.00
Intermedia Capital
7D
27.3%
1Y
100.0%
BALI
Rp1,345.00
Bali Towerindo Sentra
7D
-12.4%
1Y
-1.8%
TBIG
Rp1,670.00
Tower Bersama Infrastructure
7D
-5.6%
1Y
-22.7%
FILM
Rp8,400.00
PT.MD Entertainment
7D
12.0%
1Y
135.3%
MSKY
Rp90.00
MNC Sky Vision
7D
13.9%
1Y
47.5%
EMTK
Rp890.00
Elang Mahkota Teknologi
7D
-8.2%
1Y
63.3%
WIFI
Rp2,570.00
Solusi Sinergi Digital
7D
2.8%
1Y
8.0%
IBST
Rp4,500.00
Inti Bangun Sejahtera
7D
-8.9%
1Y
-15.1%
MTEL
Rp525.00
Dayamitra Telekomunikasi
7D
-2.8%
1Y
-13.9%
MORA
Rp6,250.00
Mora Telematika Indonesia
7D
-15.5%
1Y
1,527.6%