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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies45
  • 7D-7.9%
  • 3M-31.7%
  • 1Y17.4%
  • YTD-32.7%

Over the last 7 days, the Telecom industry has dropped 7.9%, driven by Mora Telematika Indonesia declining 21%. On the other hand Surya Citra Media is actually up 5.8%. This takes the industry's 12 month performance to a gain of 17%. 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
Sun, 15 Mar 2026Rp935.9tRp371.1tRp37.7t19.6x24.8x2.5x
Tue, 10 Feb 2026Rp1066.5tRp367.0tRp39.1t21.7x27.3x2.9x
Thu, 08 Jan 2026Rp1416.3tRp367.0tRp39.1t24.8x36.2x3.9x
Sat, 06 Dec 2025Rp1332.7tRp366.7tRp39.1t23.6x34.1x3.6x
Mon, 03 Nov 2025Rp993.0tRp363.0tRp45.2t22.3x22x2.7x
Wed, 01 Oct 2025Rp938.5tRp363.0tRp46.8t24.4x20x2.6x
Fri, 29 Aug 2025Rp959.7tRp362.8tRp46.9t25.4x20.5x2.6x
Sun, 27 Jul 2025Rp835.8tRp360.8tRp40.7t22.4x20.6x2.3x
Tue, 24 Jun 2025Rp835.0tRp362.4tRp41.9t19.4x19.9x2.3x
Thu, 22 May 2025Rp890.4tRp362.2tRp41.9t21.5x21.3x2.5x
Sat, 19 Apr 2025Rp811.5tRp362.8tRp37.3t21.4x21.8x2.2x
Mon, 17 Mar 2025Rp829.6tRp369.5tRp36.8t20.8x22.5x2.2x
Wed, 12 Feb 2025Rp775.6tRp368.7tRp37.2t20x20.9x2.1x
Fri, 10 Jan 2025Rp837.8tRp367.2tRp38.4t19.1x21.8x2.3x
Sun, 08 Dec 2024Rp867.2tRp366.2tRp38.2t22.2x22.7x2.4x
Tue, 05 Nov 2024Rp925.5tRp366.8tRp40.3t22.8x23x2.5x
Thu, 03 Oct 2024Rp963.8tRp368.0tRp41.8t21.3x23x2.6x
Sat, 31 Aug 2024Rp926.7tRp369.0tRp41.8t19.4x22.2x2.5x
Mon, 29 Jul 2024Rp877.8tRp367.3tRp41.6t20.9x21.1x2.4x
Wed, 26 Jun 2024Rp850.7tRp367.0tRp42.5t22.7x20x2.3x
Fri, 24 May 2024Rp852.2tRp367.0tRp42.3t20.1x20.1x2.3x
Sun, 21 Apr 2024Rp862.9tRp365.5tRp41.2t25.4x21x2.4x
Tue, 19 Mar 2024Rp965.0tRp373.3tRp39.4t25.6x24.5x2.6x
Thu, 15 Feb 2024Rp976.9tRp373.1tRp39.4t23.8x24.8x2.6x
Sat, 13 Jan 2024Rp995.2tRp368.7tRp38.8t27.2x25.6x2.7x
Mon, 11 Dec 2023Rp971.8tRp368.4tRp40.5t26.7x24x2.6x
Wed, 08 Nov 2023Rp908.7tRp368.0tRp41.0t27.3x22.2x2.5x
Fri, 06 Oct 2023Rp957.5tRp368.8tRp41.4t27.8x23.1x2.6x
Sun, 03 Sep 2023Rp968.7tRp368.9tRp41.5t30.6x23.3x2.6x
Tue, 01 Aug 2023Rp939.2tRp364.7tRp43.2t26.7x21.8x2.6x
Thu, 29 Jun 2023Rp958.6tRp364.1tRp44.1t29.3x21.8x2.6x
Sat, 27 May 2023Rp943.5tRp364.3tRp44.6t26.6x21.1x2.6x
Mon, 24 Apr 2023Rp957.0tRp360.1tRp48.3t18.9x19.8x2.7x
Wed, 22 Mar 2023Rp931.7tRp356.7tRp55.7t20.6x16.7x2.6x
Price to Earnings Ratio

16.7x


Total Market Cap: Rp931.7tTotal Earnings: Rp55.7tTotal Revenue: Rp356.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23x202420252026
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 23.0x.
  • 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-7.00%
Telecom-7.92%
Interactive Media and Services4.08%
Media-3.15%
Wireless Telecom-5.97%
Telecom Services and Carriers-8.37%
Entertainment-12.06%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 25.6x.
    • Analysts are expecting annual earnings growth of 46.1%, 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 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 6.6% 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
SCMA Surya Citra MediaRp256.005.8%
+Rp888.5b		36.9%PE24x
PGJO Bahtera Bumi RayaRp690.0011.3%
+Rp55.7b		494.8%PS769.1x
NETV MDTV Media TechnologiesRp78.001.3%
+Rp41.4b		-48.0%PS30.1x
KBLV First MediaRp113.009.7%
+Rp17.4b		15.3%PE5x

Latest News

NETV
Rp78.00
MDTV Media Technologies
7D
1.3%
1Y
-48.0%
ISAT
Rp2,000.00
Indosat Ooredoo Hutchison
7D
-7.4%
1Y
27.4%

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
Rp2,650.00
XLSMART Telecom Sejahtera
7D
-4.0%
1Y
17.3%
KBLV
Rp113.00
First Media
7D
9.7%
1Y
15.3%
TLKM
Rp2,970.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-6.9%
1Y
22.7%

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.
MSIN
Rp490.00
MNC Digital Entertainment
7D
-8.4%
1Y
-47.9%
SCMA
Rp256.00
Surya Citra Media
7D
5.8%
1Y
36.9%
PGJO
Rp690.00
Bahtera Bumi Raya
7D
11.3%
1Y
494.8%
TBIG
Rp1,490.00
Tower Bersama Infrastructure
7D
-5.4%
1Y
-29.4%
FILM
Rp3,660.00
PT.MD Entertainment
7D
-17.2%
1Y
24.5%
DNET
Rp8,725.00
Indoritel Makmur Internasional
7D
-2.0%
1Y
-6.9%
MORA
Rp4,480.00
Mora Telematika Indonesia
7D
-20.7%
1Y
987.4%