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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies44
  • 7D0%
  • 3M-27.0%
  • 1Y30.1%
  • YTD-30.1%

In the last week, Telecom has been flat. The past year has been better, since the industry has gained 30% in that time. 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
Wed, 25 Mar 2026Rp971.6tRp371.4tRp37.9t20.4x25.6x2.6x
Fri, 20 Feb 2026Rp1155.6tRp371.2tRp37.7t21.6x30.7x3.1x
Sun, 18 Jan 2026Rp1453.8tRp367.0tRp39.1t25x37.2x4x
Tue, 16 Dec 2025Rp1328.0tRp367.0tRp39.0t24.7x34x3.6x
Thu, 13 Nov 2025Rp1105.8tRp363.3tRp40.5t21.8x27.3x3x
Sat, 11 Oct 2025Rp961.3tRp363.0tRp46.8t23.4x20.5x2.6x
Mon, 08 Sep 2025Rp956.8tRp362.7tRp46.8t25.2x20.5x2.6x
Wed, 06 Aug 2025Rp882.8tRp359.8tRp47.6t21.5x18.6x2.5x
Fri, 04 Jul 2025Rp850.8tRp362.5tRp41.6t19.4x20.4x2.3x
Sun, 01 Jun 2025Rp887.9tRp362.4tRp41.9t21.4x21.2x2.4x
Tue, 29 Apr 2025Rp842.0tRp362.2tRp38.1t22.9x22.1x2.3x
Thu, 27 Mar 2025Rp780.8tRp371.8tRp37.9t20.5x20.6x2.1x
Sat, 22 Feb 2025Rp886.3tRp369.3tRp36.9t24.2x24x2.4x
Mon, 20 Jan 2025Rp837.1tRp367.9tRp37.7t20.4x22.2x2.3x
Wed, 18 Dec 2024Rp851.5tRp367.2tRp38.5t19.7x22.1x2.3x
Fri, 15 Nov 2024Rp873.3tRp367.1tRp39.2t22.4x22.3x2.4x
Sun, 13 Oct 2024Rp959.9tRp368.3tRp40.8t21.8x23.5x2.6x
Tue, 10 Sep 2024Rp1023.8tRp369.0tRp41.8t21.1x24.5x2.8x
Thu, 08 Aug 2024Rp843.9tRp369.5tRp42.0t19.3x20.1x2.3x
Sat, 06 Jul 2024Rp850.3tRp367.0tRp42.5t23.4x20x2.3x
Mon, 03 Jun 2024Rp839.8tRp367.0tRp42.3t21.5x19.8x2.3x
Wed, 01 May 2024Rp872.9tRp365.5tRp41.2t25.6x21.2x2.4x
Fri, 29 Mar 2024Rp915.1tRp372.6tRp40.2t25.3x22.7x2.5x
Sun, 25 Feb 2024Rp990.0tRp373.1tRp39.4t25.1x25.1x2.7x
Tue, 23 Jan 2024Rp994.0tRp368.7tRp38.8t27.5x25.6x2.7x
Thu, 21 Dec 2023Rp974.9tRp368.4tRp40.5t26.2x24.1x2.6x
Sat, 18 Nov 2023Rp927.5tRp368.0tRp41.0t26.4x22.6x2.5x
Mon, 16 Oct 2023Rp967.3tRp368.7tRp41.3t27.7x23.4x2.6x
Wed, 13 Sep 2023Rp977.5tRp368.9tRp41.5t31.2x23.6x2.6x
Fri, 11 Aug 2023Rp970.9tRp368.9tRp41.6t29.7x23.4x2.6x
Sun, 09 Jul 2023Rp966.1tRp364.1tRp44.1t26.2x21.9x2.7x
Tue, 06 Jun 2023Rp941.0tRp364.3tRp44.6t22.2x21.1x2.6x
Thu, 04 May 2023Rp936.8tRp361.7tRp44.1t19.5x21.3x2.6x
Sat, 01 Apr 2023Rp933.2tRp356.5tRp53.2t19.6x17.6x2.6x
Price to Earnings Ratio

17.6x


Total Market Cap: Rp933.2tTotal Earnings: Rp53.2tTotal Revenue: Rp356.5tTotal 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 25.6x 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%0
Telecom0%0
Entertainment0%0
Interactive Media and Services0%0
Media0%0
Telecom Services and Carriers0%0
Wireless Telecom0%0
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 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 6.3% 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
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.30k8.2%
+Rp24.8t		35.2%PE15x
MORA Mora Telematika IndonesiaRp4.68k3.1%
+Rp3.3t		1,125.1%PE396.9x
EMTK Elang Mahkota TeknologiRp835.005.0%
+Rp2.4t		57.5%PE6.8x
MSIN MNC Digital EntertainmentRp525.005.8%
+Rp1.8t		-10.3%PE70.2x
ISAT Indosat Ooredoo HutchisonRp2.20k2.3%
+Rp1.6t		45.7%PE12.9x

Latest News

ISAT
Rp2,200.00
Indosat Ooredoo Hutchison
7D
2.3%
1Y
45.7%
TOWR
Rp500.00
Sarana Menara Nusantara
7D
4.6%
1Y
-4.8%

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
Rp2,920.00
XLSMART Telecom Sejahtera
7D
-1.4%
1Y
29.8%

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
Rp695.00
Bahtera Bumi Raya
7D
-2.1%
1Y
543.5%
DIGI
Rp31.00
Arkadia Digital Media
7D
-6.1%
1Y
93.8%
TLKM
Rp3,300.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
8.2%
1Y
35.2%

TLKM: Data Center Stake Sale And Spin Off Will Unlock Equity Value

Analysts have maintained their fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia at IDR 3,887.27 per share. They have made minor adjustments to assumptions around the discount rate, revenue growth, profit margin, and future P/E to reflect updated modelling inputs.
IPTV
Rp40.00
MNC Vision Networks
7D
-4.8%
1Y
110.5%
BALI
Rp1,210.00
Bali Towerindo Sentra
7D
-1.2%
1Y
-1.6%
WIFI
Rp2,200.00
Solusi Sinergi Digital
7D
10.0%
1Y
22.9%
MSIN
Rp525.00
MNC Digital Entertainment
7D
5.8%
1Y
-10.3%
SCMA
Rp278.00
Surya Citra Media
7D
3.0%
1Y
44.0%
EMTK
Rp835.00
Elang Mahkota Teknologi
7D
5.0%
1Y
57.5%
BOLA
Rp155.00
Bali Bintang Sejahtera
7D
-0.6%
1Y
89.0%
FILM
Rp3,590.00
PT.MD Entertainment
7D
-0.6%
1Y
32.5%
TMPO
Rp118.00
Tempo Inti Media
7D
-3.3%
1Y
9.3%
MORA
Rp4,680.00
Mora Telematika Indonesia
7D
3.1%
1Y
1,125.1%