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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies44
  • 7D1.7%
  • 3M-25.7%
  • 1Y29.4%
  • YTD-28.9%

The Telecom industry has gained 1.7% in the last week and Elang Mahkota Teknologi up 3.1%. Meanwhile, PT.MD Entertainment actually underperformed within the industry, shrinking 14% in the last week. This takes the industry's 12 month performance to a gain of 29%. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026Rp988.5tRp371.4tRp37.9t20.1x26.1x2.7x
Mon, 23 Feb 2026Rp1164.2tRp371.0tRp37.6t21.6x30.9x3.1x
Wed, 21 Jan 2026Rp1460.4tRp367.0tRp39.1t24.4x37.4x4x
Fri, 19 Dec 2025Rp1309.7tRp367.0tRp39.1t23.5x33.5x3.6x
Sun, 16 Nov 2025Rp1136.3tRp366.7tRp39.1t21.8x29.1x3.1x
Tue, 14 Oct 2025Rp955.2tRp363.0tRp46.8t23.4x20.4x2.6x
Thu, 11 Sep 2025Rp937.9tRp362.7tRp46.8t23.3x20.1x2.6x
Sat, 09 Aug 2025Rp885.2tRp360.9tRp49.0t21.3x18.1x2.5x
Mon, 07 Jul 2025Rp840.8tRp362.5tRp41.6t19.2x20.2x2.3x
Wed, 04 Jun 2025Rp881.7tRp362.4tRp41.9t21.1x21x2.4x
Fri, 02 May 2025Rp851.4tRp361.2tRp37.9t22.6x22.5x2.4x
Sun, 30 Mar 2025Rp797.5tRp372.3tRp37.9t21.6x21x2.1x
Tue, 25 Feb 2025Rp872.9tRp369.3tRp36.9t24.2x23.7x2.4x
Thu, 23 Jan 2025Rp855.4tRp367.9tRp37.7t20.2x22.7x2.3x
Sat, 21 Dec 2024Rp822.9tRp367.2tRp38.5t19.1x21.4x2.2x
Mon, 18 Nov 2024Rp867.7tRp368.0tRp39.3t22.4x22.1x2.4x
Wed, 16 Oct 2024Rp951.5tRp368.3tRp40.8t21.5x23.3x2.6x
Fri, 13 Sep 2024Rp995.7tRp369.0tRp41.8t21.8x23.8x2.7x
Sun, 11 Aug 2024Rp844.1tRp369.4tRp41.9t19.3x20.2x2.3x
Tue, 09 Jul 2024Rp851.1tRp367.0tRp41.5t21.5x20.5x2.3x
Thu, 06 Jun 2024Rp852.3tRp367.0tRp42.5t22.8x20.1x2.3x
Sat, 04 May 2024Rp870.7tRp366.6tRp41.7t22.6x20.9x2.4x
Mon, 01 Apr 2024Rp915.1tRp371.8tRp40.2t26.6x22.8x2.5x
Wed, 28 Feb 2024Rp976.1tRp373.1tRp39.4t24x24.8x2.6x
Fri, 26 Jan 2024Rp991.0tRp368.7tRp38.8t27x25.5x2.7x
Sun, 24 Dec 2023Rp975.8tRp368.4tRp40.5t29x24.1x2.6x
Tue, 21 Nov 2023Rp933.7tRp368.0tRp41.0t26.6x22.8x2.5x
Thu, 19 Oct 2023Rp957.9tRp368.7tRp41.3t27.3x23.2x2.6x
Sat, 16 Sep 2023Rp975.5tRp368.9tRp41.5t30.6x23.5x2.6x
Mon, 14 Aug 2023Rp971.1tRp368.9tRp41.6t29.9x23.4x2.6x
Wed, 12 Jul 2023Rp962.6tRp364.1tRp44.1t26.2x21.8x2.6x
Fri, 09 Jun 2023Rp962.5tRp364.2tRp44.6t26.2x21.6x2.6x
Sun, 07 May 2023Rp946.4tRp363.7tRp44.8t19.4x21.1x2.6x
Tue, 04 Apr 2023Rp939.0tRp356.6tRp53.2t19.6x17.7x2.6x
Price to Earnings Ratio

17.7x


Total Market Cap: Rp939.0tTotal Earnings: Rp53.2tTotal Revenue: Rp356.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23.1x202420252026
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 26.1x which is higher than its 3-year average PE of 23.1x.
  • 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 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 Market0.31%
Telecom1.74%
Interactive Media and Services6.25%
Media4.75%
Telecom Services and Carriers2.54%
Wireless Telecom-1.26%
Entertainment-4.12%
Industry PE
  • Investors are most optimistic about the Interactive Media and Services industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Media industry, which is trading below its 3-year average of 24.0x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 46% 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 6.3% 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
EMTK Elang Mahkota TeknologiRp820.003.1%
+Rp1.5t		50.5%PE7.4x
MSIN MNC Digital EntertainmentRp520.004.8%
+Rp1.5t		-7.1%PE69.5x
MORA Mora Telematika IndonesiaRp4.60k1.3%
+Rp1.4t		1,011.1%PE390.1x
DNET Indoritel Makmur InternasionalRp9.08k1.1%
+Rp1.4t		-1.4%PE110.4x
WIFI Solusi Sinergi DigitalRp2.20k10.0%
+Rp1.1t		22.2%PE28.6x

Latest News

WIFI
Rp2,200.00
Solusi Sinergi Digital
7D
10.0%
1Y
22.2%
EMTK
Rp820.00
Elang Mahkota Teknologi
7D
3.1%
1Y
50.5%
SCMA
Rp262.00
Surya Citra Media
7D
-3.0%
1Y
31.0%
ISAT
Rp2,090.00
Indosat Ooredoo Hutchison
7D
-2.8%
1Y
43.6%

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.
TOWR
Rp490.00
Sarana Menara Nusantara
7D
2.5%
1Y
-3.0%

TOWR: Share Buyback Plan Will Support Future Upside Despite Slightly Higher Assumptions

Analysts have trimmed their price target for Sarana Menara Nusantara slightly to IDR 785.5 per share, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E multiples. What's in the News The Board of Directors authorized a share buyback plan on February 2, 2026, signaling approval for repurchases within a defined period (company announcement).
EXCL
Rp2,830.00
XLSMART Telecom Sejahtera
7D
-4.4%
1Y
24.1%

EXCL: Fair Value And Margin Outlook Will Shape Balanced 2025 View

Analysts now set their fair value estimate for XLSMART Telecom Sejahtera at IDR 3,149.75 per share, up from IDR 3,134.75, reflecting updated assumptions around profit margin and future P/E while keeping the discount rate broadly unchanged. Valuation Changes Fair Value: IDR 3,134.75 per share to IDR 3,149.75 per share, a small upward adjustment in the valuation range.
PGJO
Rp645.00
Bahtera Bumi Raya
7D
-9.2%
1Y
486.4%
NETV
Rp92.00
MDTV Media Technologies
7D
27.8%
1Y
-35.7%
IPTV
Rp40.00
MNC Vision Networks
7D
-4.8%
1Y
100.0%
MSIN
Rp520.00
MNC Digital Entertainment
7D
4.8%
1Y
-7.1%
TBIG
Rp1,640.00
Tower Bersama Infrastructure
7D
1.2%
1Y
-17.6%
FILM
Rp3,100.00
PT.MD Entertainment
7D
-14.1%
1Y
9.2%
DATA
Rp3,630.00
Remala Abadi
7D
-2.2%
1Y
245.7%
BHIT
Rp32.00
MNC Asia Holding
7D
-3.0%
1Y
33.3%
DNET
Rp9,075.00
Indoritel Makmur Internasional
7D
1.1%
1Y
-1.4%
MORA
Rp4,600.00
Mora Telematika Indonesia
7D
1.3%
1Y
1,011.1%