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Indonesian (IDX) Telecom Sector Analysis

UpdatedOct 22, 2025
DataAggregated Company Financials
Companies46
  • 7D4.6%
  • 3M17.3%
  • 1Y7.8%
  • YTD15.9%

Over the last 7 days, the Telecom industry has dropped 1.3%, driven by a pullback from Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia of 2.6%. Meanwhile, PT.MD Entertainment actually outperformed within the industry, gaining 19% in the last week. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 8.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Oct 2025Rp991.6tRp363.0tRp46.9t23.9x21.2x2.7x
Fri, 19 Sep 2025Rp963.4tRp363.0tRp46.8t27.4x20.6x2.7x
Sun, 17 Aug 2025Rp919.7tRp360.7tRp49.0t21.1x18.8x2.5x
Tue, 15 Jul 2025Rp795.4tRp360.8tRp40.6t19x19.6x2.2x
Thu, 12 Jun 2025Rp881.6tRp362.4tRp41.9t21.1x21x2.4x
Sat, 10 May 2025Rp859.4tRp361.6tRp42.0t21.1x20.5x2.4x
Mon, 07 Apr 2025Rp804.7tRp374.9tRp35.8t21.3x22.5x2.1x
Wed, 05 Mar 2025Rp824.9tRp369.3tRp36.8t22.7x22.4x2.2x
Fri, 31 Jan 2025Rp845.0tRp367.9tRp37.7t20x22.4x2.3x
Sun, 29 Dec 2024Rp849.7tRp367.2tRp38.5t22.2x22.1x2.3x
Tue, 26 Nov 2024Rp901.7tRp368.0tRp39.3t22.9x23x2.5x
Thu, 24 Oct 2024Rp955.1tRp368.3tRp40.8t21.2x23.4x2.6x
Sat, 21 Sep 2024Rp989.4tRp368.9tRp41.7t20.9x23.7x2.7x
Mon, 19 Aug 2024Rp904.9tRp369.0tRp41.8t17.8x21.6x2.5x
Wed, 17 Jul 2024Rp887.8tRp367.0tRp41.5t22.3x21.4x2.4x
Fri, 14 Jun 2024Rp832.4tRp367.0tRp42.5t21.3x19.6x2.3x
Sun, 12 May 2024Rp866.9tRp365.5tRp42.0t22.3x20.6x2.4x
Tue, 09 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Thu, 07 Mar 2024Rp967.3tRp373.1tRp39.4t24.7x24.6x2.6x
Sat, 03 Feb 2024Rp994.2tRp370.8tRp38.8t26.5x25.6x2.7x
Mon, 01 Jan 2024Rp978.7tRp368.4tRp40.5t26.1x24.2x2.7x
Wed, 29 Nov 2023Rp964.7tRp368.6tRp41.0t27.3x23.5x2.6x
Fri, 27 Oct 2023Rp917.3tRp368.8tRp41.3t25.7x22.2x2.5x
Sun, 24 Sep 2023Rp965.1tRp368.8tRp41.4t28.5x23.3x2.6x
Tue, 22 Aug 2023Rp974.3tRp368.9tRp41.5t31.1x23.5x2.6x
Thu, 20 Jul 2023Rp950.0tRp364.1tRp44.1t26.4x21.6x2.6x
Sat, 17 Jun 2023Rp961.7tRp364.2tRp44.6t26.2x21.6x2.6x
Mon, 15 May 2023Rp928.8tRp364.2tRp44.5t22.3x20.9x2.6x
Wed, 12 Apr 2023Rp955.5tRp359.9tRp47.5t17.1x20.1x2.7x
Fri, 10 Mar 2023Rp942.3tRp356.7tRp56.0t18.3x16.8x2.6x
Sun, 05 Feb 2023Rp953.9tRp351.9tRp55.9t16.4x17.1x2.7x
Tue, 03 Jan 2023Rp951.8tRp342.1tRp55.8t16.8x17x2.8x
Thu, 01 Dec 2022Rp1005.6tRp341.6tRp54.9t18.5x18.3x2.9x
Sat, 29 Oct 2022Rp1069.3tRp334.7tRp53.6t18.9x19.9x3.2x
Price to Earnings Ratio

19.9x


Total Market Cap: Rp1069.3tTotal Earnings: Rp53.6tTotal Revenue: Rp334.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 21.3x202320242025
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 21.3x.
  • The industry is trading close to its 3-year average PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the Communication Services industry have declined 4.4% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.7% 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 Market-0.19%
Telecom4.56%
Interactive Media and Services17.31%
Telecom Services and Carriers6.68%
Wireless Telecom4.63%
Entertainment4.29%
Media-3.63%
Industry PE
  • Investors are most optimistic about the Entertainment industry, which is trading close to its 3-year average PE ratio of 109x.
    • Analysts are expecting annual earnings growth of 16.3%, which is higher than its past year's earnings decline of 28.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 54% over the next 5 years.
  • This is better than its past earnings decline of 15% per year.
  • In contrast, the Media industry is expected to see its earnings decline by 21% 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 IndonesiaRp3.28k10.8%
+Rp31.7t		9.0%PE14.2x
MORA Mora Telematika IndonesiaRp1.35k33.0%
+Rp7.9t		214.0%PE586.8x
ISAT Indosat Ooredoo HutchisonRp1.92k9.4%
+Rp5.3t		-20.7%PE13.7x
FILM PT.MD EntertainmentRp5.40k8.2%
+Rp4.1t		69.8%PS98.4x
TBIG Tower Bersama InfrastructureRp1.90k3.0%
+Rp1.2t		0.5%PE29.5x

Latest News

EXCL
Rp2,500.00
XLSMART Telecom Sejahtera
7D
-1.6%
1Y
9.6%

Integrated Networks And Digital Investments Will Expand Indonesia's Connectivity

Analysts have maintained their price target for XLSMART Telecom Sejahtera at Rp2,798, citing very minor adjustments to the discount rate and operating forecasts. These changes do not materially affect the company’s fair value outlook.
DATA
Rp5,750.00
Remala Abadi
7D
12.2%
1Y
721.4%
MTEL
Rp560.00
Dayamitra Telekomunikasi
7D
-0.9%
1Y
-12.5%
TLKM
Rp3,280.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
10.8%
1Y
9.0%

One-billing Integration And Fiber Optics Will Boost Digital Connectivity

Analysts have raised their fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from Rp3,458.70 to Rp3,510.00. This change reflects slight adjustments in revenue growth and profit margin expectations.
ISAT
Rp1,920.00
Indosat Ooredoo Hutchison
7D
9.4%
1Y
-20.7%

AI Cloud Services And Network Upgrades Will Shape Future Markets

As both the consensus analyst price target and key valuation multiples for Indosat Ooredoo Hutchison remained virtually unchanged, with the target holding steady at IDR2642, there is no material shift in analysts' assessment of fair value. What's in the News Indosat Ooredoo Hutchison scheduled a Special/Extraordinary Shareholders Meeting to be held electronically in Jakarta.
TBIG
Rp1,900.00
Tower Bersama Infrastructure
7D
3.0%
1Y
0.5%
DNET
Rp9,150.00
Indoritel Makmur Internasional
7D
0.5%
1Y
-0.5%
FILM
Rp5,400.00
PT.MD Entertainment
7D
8.2%
1Y
69.8%
WIFI
Rp3,200.00
Solusi Sinergi Digital
7D
-14.9%
1Y
651.2%
MSIN
Rp520.00
MNC Digital Entertainment
7D
2.0%
1Y
-62.6%
EMTK
Rp1,300.00
Elang Mahkota Teknologi
7D
-0.8%
1Y
157.4%
MORA
Rp1,350.00
Mora Telematika Indonesia
7D
33.0%
1Y
214.0%
BLTZ
Rp2,410.00
Graha Layar Prima
7D
-18.9%
1Y
9.5%
LINK
Rp2,530.00
Link Net
7D
-22.2%
1Y
83.3%
SCMA
Rp368.00
Surya Citra Media
7D
-8.5%
1Y
162.9%
IBST
Rp5,100.00
Inti Bangun Sejahtera
7D
-8.9%
1Y
2.0%