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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies45
  • 7D-11.5%
  • 3M-23.9%
  • 1Y27.2%
  • YTD-26.9%

Over the last 7 days, the Telecom industry has dropped 8.4%, driven by declines in PT.MD Entertainment and Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia of 47% and 9.9%, respectively. Meanwhile, Inti Bangun Sejahtera actually outperformed within the industry, gaining 22% in the last week. Over the past 12 months, the industry was up 32%. 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
Sat, 07 Mar 2026Rp1016.3tRp371.0tRp37.6t20.4x27x2.7x
Mon, 02 Feb 2026Rp1337.6tRp367.0tRp39.1t22.1x34.2x3.6x
Wed, 31 Dec 2025Rp1414.1tRp367.0tRp39.1t25.4x36.2x3.9x
Fri, 28 Nov 2025Rp1179.4tRp366.7tRp39.1t23x30.2x3.2x
Sun, 26 Oct 2025Rp985.7tRp363.0tRp46.9t23.2x21x2.7x
Tue, 23 Sep 2025Rp959.8tRp363.0tRp46.8t26x20.5x2.6x
Thu, 21 Aug 2025Rp928.0tRp360.7tRp49.0t21.1x18.9x2.6x
Sat, 19 Jul 2025Rp824.1tRp360.8tRp40.6t20.4x20.3x2.3x
Mon, 16 Jun 2025Rp869.0tRp362.4tRp41.9t20.4x20.7x2.4x
Wed, 14 May 2025Rp861.7tRp362.0tRp41.9t22x20.6x2.4x
Fri, 11 Apr 2025Rp782.2tRp375.1tRp35.6t20.4x22x2.1x
Sun, 09 Mar 2025Rp830.6tRp369.5tRp36.8t22.9x22.5x2.2x
Tue, 04 Feb 2025Rp832.1tRp367.9tRp37.7t19.9x22.1x2.3x
Thu, 02 Jan 2025Rp851.4tRp367.2tRp38.5t21.9x22.1x2.3x
Sat, 30 Nov 2024Rp895.0tRp368.0tRp39.3t22.7x22.8x2.4x
Mon, 28 Oct 2024Rp942.0tRp368.2tRp40.7t21.7x23.1x2.6x
Wed, 25 Sep 2024Rp986.6tRp368.9tRp41.7t20.9x23.7x2.7x
Fri, 23 Aug 2024Rp901.9tRp369.0tRp41.8t19.2x21.6x2.4x
Sun, 21 Jul 2024Rp840.0tRp365.1tRp40.4t20.5x20.8x2.3x
Tue, 18 Jun 2024Rp810.9tRp367.0tRp42.5t20.6x19.1x2.2x
Thu, 16 May 2024Rp875.8tRp365.2tRp42.0t23.1x20.8x2.4x
Sat, 13 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Mon, 11 Mar 2024Rp964.0tRp373.3tRp39.4t26.1x24.5x2.6x
Wed, 07 Feb 2024Rp983.9tRp370.8tRp38.8t27.2x25.4x2.7x
Fri, 05 Jan 2024Rp983.4tRp368.7tRp38.9t24x25.3x2.7x
Sun, 03 Dec 2023Rp971.2tRp368.6tRp40.8t27.2x23.8x2.6x
Tue, 31 Oct 2023Rp906.5tRp368.7tRp41.2t26.1x22x2.5x
Thu, 28 Sep 2023Rp948.9tRp368.8tRp41.4t28.2x22.9x2.6x
Sat, 26 Aug 2023Rp968.3tRp368.9tRp41.5t31.4x23.3x2.6x
Mon, 24 Jul 2023Rp951.1tRp364.1tRp44.1t26.5x21.6x2.6x
Wed, 21 Jun 2023Rp953.0tRp364.2tRp44.5t24.4x21.4x2.6x
Fri, 19 May 2023Rp927.0tRp364.3tRp44.2t25.2x21x2.5x
Sun, 16 Apr 2023Rp962.4tRp360.0tRp48.5t18.5x19.9x2.7x
Tue, 14 Mar 2023Rp947.6tRp356.7tRp56.0t18.6x16.9x2.7x
Price to Earnings Ratio

16.9x


Total Market Cap: Rp947.6tTotal Earnings: Rp56.0tTotal Revenue: Rp356.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23x202420252026
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 28.0x which is higher than its 3-year average PE 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-7.92%
Telecom-11.49%
Telecom Services and Carriers-7.12%
Wireless Telecom-9.30%
Interactive Media and Services-15.41%
Media-16.24%
Entertainment-34.13%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 24.9x.
    • Analysts are expecting annual earnings growth of 45.2%, 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 45% 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
IBST Inti Bangun SejahteraRp5.50k22.2%
+Rp1.4t		3.8%PE18.8x
GHON Gihon Telekomunikasi IndonesiaRp1.81k0.3%
+Rp2.8b		18.3%PE11.6x

Latest News

IBST
Rp5,500.00
Inti Bangun Sejahtera
7D
22.2%
1Y
3.8%
WIFI
Rp2,100.00
Solusi Sinergi Digital
7D
-18.3%
1Y
-9.9%
EXCL
Rp2,760.00
XLSMART Telecom Sejahtera
7D
-12.9%
1Y
22.7%

EXCL: Higher Fair Value And P/E Will Shape Balanced 2025 Outlook

Analysts now set their price target for XLSMART Telecom Sejahtera at IDR 3,134.75, compared with the prior fair value estimate of IDR 2,884.76. This reflects updated assumptions around discount rates, revenue growth, profit margins, and a higher future P/E framework.
MSIN
Rp535.00
MNC Digital Entertainment
7D
-16.4%
1Y
-21.9%
EMTK
Rp735.00
Elang Mahkota Teknologi
7D
-17.4%
1Y
36.1%
ISAT
Rp2,160.00
Indosat Ooredoo Hutchison
7D
-6.5%
1Y
40.3%

ISAT: Lower Discount Rate And Higher Margin Assumptions Will Support Upside Potential

Analysts have adjusted their price target for Indosat Ooredoo Hutchison from IDR 2,641.90 to IDR 2,729.72, reflecting updated views on fair value, discount rate, revenue growth, profit margin, and future P/E assumptions. Valuation Changes Fair Value: IDR 2,641.90 to IDR 2,729.72, indicating a modest upward revision in the estimated equity value.
TLKM
Rp3,190.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-9.9%
1Y
32.4%

TLKM: Governance Changes And Share Buybacks Will Shape Fairly Valued Outlook

Analysts have slightly raised their IDR fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from IDR 3,106.86 to IDR 3,167.87, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E levels. What's in the News The company approved amendments to its Articles of Association at an Extraordinary General Meeting held on December 12, 2025, signaling changes to its formal governance framework (Key Developments).
GHON
Rp1,810.00
Gihon Telekomunikasi Indonesia
7D
0.3%
1Y
18.3%
FILM
Rp4,420.00
PT.MD Entertainment
7D
-47.4%
1Y
36.0%
MORA
Rp5,650.00
Mora Telematika Indonesia
7D
-9.6%
1Y
1,291.6%