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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies45
  • 7D-1.3%
  • 3M-28.2%
  • 1Y24.3%
  • YTD-30.1%

Over the last 7 days, the Telecom industry has dropped 1.3%, driven by a pullback from Mora Telematika Indonesia of 25%. In the past year, the industry has gained 24%. As for the next few years, earnings are expected to grow by 16% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026Rp972.2tRp371.2tRp37.7t20.4x25.8x2.6x
Fri, 13 Feb 2026Rp1142.7tRp367.0tRp39.1t22x29.2x3.1x
Sun, 11 Jan 2026Rp1428.0tRp367.0tRp39.1t24.6x36.5x3.9x
Tue, 09 Dec 2025Rp1352.7tRp366.7tRp39.1t23.8x34.6x3.7x
Thu, 06 Nov 2025Rp1040.7tRp364.4tRp47.1t21.1x22.1x2.9x
Sat, 04 Oct 2025Rp976.6tRp363.0tRp46.8t24.1x20.8x2.7x
Mon, 01 Sep 2025Rp947.4tRp362.8tRp46.9t25.9x20.2x2.6x
Wed, 30 Jul 2025Rp845.7tRp361.0tRp40.8t21.7x20.7x2.3x
Fri, 27 Jun 2025Rp828.9tRp362.4tRp41.9t19.6x19.8x2.3x
Sun, 25 May 2025Rp877.7tRp362.2tRp41.9t21.6x21x2.4x
Tue, 22 Apr 2025Rp808.9tRp362.5tRp38.3t21.2x21.1x2.2x
Thu, 20 Mar 2025Rp816.6tRp369.7tRp36.8t21.5x22.2x2.2x
Sat, 15 Feb 2025Rp815.2tRp368.6tRp36.4t22x22.4x2.2x
Mon, 13 Jan 2025Rp843.8tRp367.2tRp38.4t18.8x21.9x2.3x
Wed, 11 Dec 2024Rp873.8tRp366.2tRp38.2t21.6x22.9x2.4x
Fri, 08 Nov 2024Rp909.9tRp368.1tRp40.3t22.5x22.6x2.5x
Sun, 06 Oct 2024Rp949.3tRp368.1tRp40.8t20.7x23.3x2.6x
Tue, 03 Sep 2024Rp938.4tRp369.0tRp41.8t19.8x22.4x2.5x
Thu, 01 Aug 2024Rp857.9tRp367.9tRp41.0t21.9x20.9x2.3x
Sat, 29 Jun 2024Rp851.2tRp367.0tRp42.5t22.3x20x2.3x
Mon, 27 May 2024Rp852.2tRp367.0tRp42.3t20.1x20.1x2.3x
Wed, 24 Apr 2024Rp860.4tRp365.5tRp41.2t25.2x20.9x2.4x
Fri, 22 Mar 2024Rp955.8tRp373.1tRp39.4t25.3x24.3x2.6x
Sun, 18 Feb 2024Rp991.2tRp373.1tRp39.4t23.3x25.2x2.7x
Tue, 16 Jan 2024Rp994.2tRp368.7tRp38.8t26.2x25.6x2.7x
Thu, 14 Dec 2023Rp971.0tRp368.4tRp40.5t26x24x2.6x
Sat, 11 Nov 2023Rp919.1tRp368.0tRp41.0t26.9x22.4x2.5x
Mon, 09 Oct 2023Rp957.2tRp368.7tRp41.3t27.6x23.2x2.6x
Wed, 06 Sep 2023Rp975.5tRp368.9tRp41.5t30.9x23.5x2.6x
Fri, 04 Aug 2023Rp954.3tRp370.0tRp42.1t25.9x22.7x2.6x
Sun, 02 Jul 2023Rp958.6tRp364.1tRp44.1t26.3x21.8x2.6x
Tue, 30 May 2023Rp945.0tRp364.3tRp44.6t25.8x21.2x2.6x
Thu, 27 Apr 2023Rp967.4tRp360.1tRp48.3t19.2x20x2.7x
Sat, 25 Mar 2023Rp926.0tRp356.9tRp55.8t18.4x16.6x2.6x
Price to Earnings Ratio

16.6x


Total Market Cap: Rp926.0tTotal Earnings: Rp55.8tTotal Revenue: Rp356.9tTotal 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 25.8x 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 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-5.70%
Telecom-1.34%
Interactive Media and Services10.93%
Wireless Telecom4.43%
Media3.47%
Entertainment-2.03%
Telecom Services and Carriers-2.91%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 25.9x.
    • Analysts are expecting annual earnings growth of 46.9%, which is higher than its past year's earnings growth of 12.2% 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 6.5% 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 IndonesiaRp3.05k3.0%
+Rp8.9t		26.0%PE13.9x
EMTK Elang Mahkota TeknologiRp795.008.9%
+Rp4.0t		61.6%PE6.5x
ISAT Indosat Ooredoo HutchisonRp2.15k4.9%
+Rp3.2t		41.9%PE12.6x
TBIG Tower Bersama InfrastructureRp1.62k9.5%
+Rp3.1t		-20.2%PE27.7x
MTEL Dayamitra TelekomunikasiRp535.004.9%
+Rp2.0t		-6.1%PE20.6x

Latest News

NETV
Rp72.00
MDTV Media Technologies
7D
-15.3%
1Y
-50.0%
ISAT
Rp2,150.00
Indosat Ooredoo Hutchison
7D
4.9%
1Y
41.9%

ISAT: Future Returns Will Likely Track Fair Value With Modest Margin Support

Analysts have nudged their price target on Indosat Ooredoo Hutchison from IDR 2,000 to about IDR 2,040, citing small adjustments to fair value estimates that reflect updated assumptions on revenue growth, profit margins, and future P/E multiples. Valuation Changes Fair Value: Updated from IDR 2,000 to about IDR 2,040, reflecting a small upward adjustment in the modelled estimate.
EXCL
Rp2,960.00
XLSMART Telecom Sejahtera
7D
3.9%
1Y
31.6%
TLKM
Rp3,050.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
3.0%
1Y
26.0%

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.
MDIA
Rp54.00
Intermedia Capital
7D
-10.0%
1Y
63.6%
BALI
Rp1,225.00
Bali Towerindo Sentra
7D
-6.5%
1Y
-9.9%
WIFI
Rp2,000.00
Solusi Sinergi Digital
7D
-4.3%
1Y
12.7%
SCMA
Rp270.00
Surya Citra Media
7D
8.9%
1Y
39.2%
EMTK
Rp795.00
Elang Mahkota Teknologi
7D
8.9%
1Y
61.6%
LINK
Rp1,830.00
Link Net
7D
-9.9%
1Y
1.7%
TBIG
Rp1,620.00
Tower Bersama Infrastructure
7D
9.5%
1Y
-20.2%
FILM
Rp3,610.00
PT.MD Entertainment
7D
-4.2%
1Y
28.5%
CENT
Rp98.00
Centratama Telekomunikasi Indonesia
7D
-7.5%
1Y
71.9%
MTEL
Rp535.00
Dayamitra Telekomunikasi
7D
4.9%
1Y
-6.1%
DNET
Rp8,975.00
Indoritel Makmur Internasional
7D
1.4%
1Y
-2.2%
MORA
Rp4,540.00
Mora Telematika Indonesia
7D
-25.0%
1Y
1,052.3%