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Indonesian (IDX) Telecom Sector Analysis

UpdatedFeb 22, 2026
DataAggregated Company Financials
Companies45
  • 7D3.0%
  • 3M1.3%
  • 1Y36.5%
  • YTD-16.3%

Over the last 7 days, the Telecom industry has risen 3.0%, driven by gains from Mora Telematika Indonesia of 7.6%. Meanwhile, Link Net actually underperformed within the industry, shrinking 16% in the last week. In the last 12 months, the industry was up 37%. 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, 22 Feb 2026Rp1164.2tRp371.0tRp37.6t21.6x30.9x3.1x
Tue, 20 Jan 2026Rp1463.2tRp367.0tRp39.1t24.5x37.4x4x
Thu, 18 Dec 2025Rp1349.1tRp367.0tRp39.1t24x34.5x3.7x
Sat, 15 Nov 2025Rp1136.3tRp363.3tRp40.5t21.8x28.1x3.1x
Mon, 13 Oct 2025Rp972.5tRp363.0tRp46.8t23.4x20.8x2.7x
Wed, 10 Sep 2025Rp926.6tRp362.7tRp46.8t23.3x19.8x2.6x
Fri, 08 Aug 2025Rp885.3tRp360.8tRp48.9t21.1x18.1x2.5x
Sun, 06 Jul 2025Rp840.8tRp362.5tRp41.6t19.2x20.2x2.3x
Tue, 03 Jun 2025Rp881.8tRp362.4tRp41.9t21.3x21x2.4x
Thu, 01 May 2025Rp851.6tRp362.0tRp38.2t22.6x22.3x2.4x
Sat, 29 Mar 2025Rp797.5tRp372.3tRp37.9t21.6x21x2.1x
Mon, 24 Feb 2025Rp886.3tRp369.3tRp36.9t24.2x24x2.4x
Wed, 22 Jan 2025Rp840.7tRp367.9tRp37.7t20.3x22.3x2.3x
Fri, 20 Dec 2024Rp824.8tRp367.2tRp38.5t18.7x21.4x2.2x
Sun, 17 Nov 2024Rp867.7tRp368.0tRp39.3t22.4x22.1x2.4x
Tue, 15 Oct 2024Rp959.9tRp368.3tRp40.8t21.8x23.5x2.6x
Thu, 12 Sep 2024Rp1031.1tRp369.0tRp41.8t21.8x24.7x2.8x
Sat, 10 Aug 2024Rp842.1tRp369.4tRp41.9t19.3x20.1x2.3x
Mon, 08 Jul 2024Rp851.1tRp367.0tRp41.5t21.7x20.5x2.3x
Wed, 05 Jun 2024Rp839.8tRp367.0tRp42.5t21.4x19.8x2.3x
Fri, 03 May 2024Rp870.8tRp366.6tRp41.7t23.2x20.9x2.4x
Sun, 31 Mar 2024Rp915.1tRp372.3tRp40.4t27.8x22.7x2.5x
Tue, 27 Feb 2024Rp987.1tRp373.1tRp39.4t24.3x25.1x2.6x
Thu, 25 Jan 2024Rp992.4tRp368.7tRp38.8t27x25.5x2.7x
Sat, 23 Dec 2023Rp969.9tRp368.4tRp40.5t29x24x2.6x
Mon, 20 Nov 2023Rp927.6tRp368.0tRp41.0t26.4x22.6x2.5x
Wed, 18 Oct 2023Rp967.3tRp368.7tRp41.3t27.7x23.4x2.6x
Fri, 15 Sep 2023Rp975.5tRp368.9tRp41.5t30.6x23.5x2.6x
Sun, 13 Aug 2023Rp971.1tRp368.9tRp41.6t29.9x23.4x2.6x
Tue, 11 Jul 2023Rp962.6tRp364.1tRp44.1t26.2x21.9x2.6x
Thu, 08 Jun 2023Rp962.5tRp364.2tRp44.6t25.9x21.6x2.6x
Sat, 06 May 2023Rp944.0tRp363.4tRp44.8t19.6x21.1x2.6x
Mon, 03 Apr 2023Rp933.2tRp356.6tRp53.2t19.6x17.5x2.6x
Wed, 01 Mar 2023Rp940.7tRp356.4tRp55.8t17.1x16.9x2.6x
Price to Earnings Ratio

16.9x


Total Market Cap: Rp940.7tTotal Earnings: Rp55.8tTotal Revenue: Rp356.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 22.8x202420252026
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 30.9x which is higher than its 3-year average PE of 22.8x.
  • 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 Market0.43%
Telecom3.03%
Entertainment9.76%
Wireless Telecom4.75%
Media2.60%
Telecom Services and Carriers1.88%
Interactive Media and Services-1.00%
Industry PE
  • Investors are most optimistic about the Entertainment industry which is trading above its 3-year average PE ratio of 114x.
    • 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
MORA Mora Telematika IndonesiaRp7.40k7.6%
+Rp12.4t		1,501.7%PE627.6x
FILM PT.MD EntertainmentRp7.50k12.8%
+Rp8.4t		76.5%PS144.3x
EXCL XLSMART Telecom SejahteraRp3.12k9.5%
+Rp4.9t		38.7%PS1.3x
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.48k0.9%
+Rp3.0t		31.3%PE15.8x
EMTK Elang Mahkota TeknologiRp970.004.9%
+Rp2.8t		51.6%PE7.9x

Latest News

LINK
Rp2,350.00
Link Net
7D
-15.8%
1Y
8.8%
EXCL
Rp3,120.00
XLSMART Telecom Sejahtera
7D
9.5%
1Y
38.7%
TOWR
Rp515.00
Sarana Menara Nusantara
7D
-1.9%
1Y
-13.4%

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.
ISAT
Rp2,260.00
Indosat Ooredoo Hutchison
7D
1.3%
1Y
30.6%
MSIN
Rp510.00
MNC Digital Entertainment
7D
7.6%
1Y
-4.7%
FUTR
Rp370.00
Lini Imaji Kreasi Ekosistem
7D
-4.6%
1Y
172.1%
TLKM
Rp3,480.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
0.9%
1Y
31.3%

TLKM: Infrastructure Spinoff And Streamlining Will Unlock Future Equity Value

Analysts have lifted their price target on Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to IDR 4,000 from IDR 3,400, citing expectations that the infrastructure spinoff and streamlining efforts could help surface additional value in the business. Analyst Commentary Bullish Takeaways Bullish analysts highlight the higher price target of IDR 4,000 as a reflection of what they see as underrecognized value tied to the planned infrastructure spinoff and streamlining plans.
TBIG
Rp1,770.00
Tower Bersama Infrastructure
7D
2.9%
1Y
-21.0%
FILM
Rp7,500.00
PT.MD Entertainment
7D
12.8%
1Y
76.5%
KETR
Rp625.00
Ketrosden Triasmitra
7D
-6.7%
1Y
255.1%
EMTK
Rp970.00
Elang Mahkota Teknologi
7D
4.9%
1Y
51.6%
BHIT
Rp39.00
MNC Asia Holding
7D
-2.5%
1Y
34.5%
MTEL
Rp540.00
Dayamitra Telekomunikasi
7D
-1.8%
1Y
-15.6%
IPTV
Rp44.00
MNC Vision Networks
7D
-6.4%
1Y
91.3%
DNET
Rp9,000.00
Indoritel Makmur Internasional
7D
-0.6%
1Y
-7.5%
MORA
Rp7,400.00
Mora Telematika Indonesia
7D
7.6%
1Y
1,501.7%