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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 03, 2026
DataAggregated Company Financials
Companies44
  • 7D-1.1%
  • 3M-30.7%
  • 1Y28.1%
  • YTD-29.6%

Over the last 7 days, the Telecom industry has dropped 1.1%, driven by a pullback from Mora Telematika Indonesia of 12%. On the other hand MNC Digital Entertainment is actually up 61%. This takes the industry's 12 month performance to a gain of 28%. 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
Sat, 04 Apr 2026Rp978.1tRp374.1tRp38.3t20.7x25.6x2.6x
Mon, 02 Mar 2026Rp1148.3tRp371.0tRp37.6t21.2x30.5x3.1x
Wed, 28 Jan 2026Rp1529.1tRp367.0tRp39.1t23.6x39.1x4.2x
Fri, 26 Dec 2025Rp1327.6tRp367.0tRp39.1t24.4x34x3.6x
Sun, 23 Nov 2025Rp1146.1tRp366.7tRp39.1t22.1x29.3x3.1x
Tue, 21 Oct 2025Rp927.8tRp363.0tRp46.8t25.3x19.8x2.6x
Thu, 18 Sep 2025Rp965.0tRp363.0tRp46.8t26.3x20.6x2.7x
Sat, 16 Aug 2025Rp938.7tRp360.7tRp49.0t21.1x19.1x2.6x
Mon, 14 Jul 2025Rp804.4tRp360.8tRp40.6t18.4x19.8x2.2x
Wed, 11 Jun 2025Rp893.0tRp362.4tRp41.9t21.3x21.3x2.5x
Fri, 09 May 2025Rp859.5tRp361.6tRp42.2t21.5x20.4x2.4x
Sun, 06 Apr 2025Rp804.7tRp374.9tRp35.8t21.3x22.5x2.1x
Tue, 04 Mar 2025Rp843.8tRp369.3tRp36.8t22.7x22.9x2.3x
Thu, 30 Jan 2025Rp848.8tRp367.9tRp37.7t20x22.5x2.3x
Sat, 28 Dec 2024Rp849.8tRp367.2tRp38.5t22.2x22.1x2.3x
Mon, 25 Nov 2024Rp900.7tRp368.0tRp39.3t23x22.9x2.4x
Wed, 23 Oct 2024Rp961.4tRp368.3tRp40.8t21.3x23.6x2.6x
Fri, 20 Sep 2024Rp989.3tRp368.9tRp41.7t20.9x23.7x2.7x
Sun, 18 Aug 2024Rp904.9tRp368.6tRp41.8t18.2x21.7x2.5x
Tue, 16 Jul 2024Rp895.0tRp367.0tRp41.5t22.1x21.6x2.4x
Thu, 13 Jun 2024Rp831.3tRp367.0tRp42.5t21.6x19.6x2.3x
Sat, 11 May 2024Rp866.9tRp365.5tRp42.0t22.3x20.6x2.4x
Mon, 08 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Wed, 06 Mar 2024Rp966.4tRp373.1tRp39.4t26.1x24.5x2.6x
Fri, 02 Feb 2024Rp992.3tRp368.7tRp38.8t26.4x25.5x2.7x
Sun, 31 Dec 2023Rp978.7tRp368.4tRp40.5t26.1x24.2x2.7x
Tue, 28 Nov 2023Rp954.1tRp368.6tRp41.0t27.2x23.3x2.6x
Thu, 26 Oct 2023Rp929.8tRp368.8tRp41.2t26.3x22.5x2.5x
Sat, 23 Sep 2023Rp957.1tRp368.8tRp41.4t28.5x23.1x2.6x
Mon, 21 Aug 2023Rp974.3tRp368.8tRp41.5t30.3x23.5x2.6x
Wed, 19 Jul 2023Rp950.0tRp364.1tRp44.1t26.4x21.6x2.6x
Fri, 16 Jun 2023Rp955.6tRp364.2tRp44.6t26.4x21.4x2.6x
Sun, 14 May 2023Rp929.2tRp364.6tRp44.5t20.3x20.9x2.5x
Tue, 11 Apr 2023Rp952.4tRp359.9tRp47.5t17.2x20.1x2.6x
Price to Earnings Ratio

20.1x


Total Market Cap: Rp952.4tTotal Earnings: Rp47.5tTotal Revenue: Rp359.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23.2x202420252026
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 23.2x.
  • 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 7.0% 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-2.39%
Telecom-1.05%
Entertainment23.01%
Interactive Media and Services0.65%
Wireless Telecom-1.48%
Telecom Services and Carriers-2.81%
Media-6.59%
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 24.1x.
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
MSIN MNC Digital EntertainmentRp835.0060.6%
+Rp19.1t		49.1%PE52x
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.13k2.6%
+Rp7.9t		29.9%PE14.3x
EXCL XLSMART Telecom SejahteraRp2.90k2.5%
+Rp1.3t		27.2%PS1.2x
DNET Indoritel Makmur InternasionalRp9.13k0.6%
+Rp709.2b		-0.8%PE111x
LINK Link NetRp1.98k6.8%
+Rp344.0b		10.6%PS1.8x

Latest News

MNCN
Rp232.00
PT. Media Nusantara Citra
7D
9.4%
1Y
-7.9%
BHIT
Rp36.00
MNC Asia Holding
7D
12.5%
1Y
50.0%
MSIN
Rp835.00
MNC Digital Entertainment
7D
60.6%
1Y
49.1%
FILM
Rp2,910.00
PT.MD Entertainment
7D
-6.1%
1Y
2.5%
TBIG
Rp1,625.00
Tower Bersama Infrastructure
7D
-0.9%
1Y
-18.3%
MORA
Rp4,090.00
Mora Telematika Indonesia
7D
-11.1%
1Y
887.9%
TOWR
Rp494.00
Sarana Menara Nusantara
7D
0.8%
1Y
-2.2%

TOWR: Share Buyback And Revised Assumptions Will Shape Future Return Profile

Analysts have reduced their fair value estimate for Sarana Menara Nusantara from IDR600 to IDR525, citing updated assumptions that include a lower discount rate, a revised revenue growth outlook, a higher profit margin, and a lower future P/E multiple. What's in the News The Board of Directors of PT Sarana Menara Nusantara Tbk.
EXCL
Rp2,900.00
XLSMART Telecom Sejahtera
7D
2.5%
1Y
27.2%

EXCL: Higher Growth Outlook And Firm P/E Support Future Upside Potential

Analysts have kept their IDR 4,500 price target for XLSMART Telecom Sejahtera unchanged, explaining the steady view as a balance between higher assumed revenue growth of 9.02% and a lower profit margin estimate of 13.57%, which now feeds into an 18.91x future P/E assumption. Valuation Changes Fair Value: IDR 4,500 remains unchanged, indicating no revision to the central price estimate.
DATA
Rp2,180.00
Remala Abadi
7D
-39.9%
1Y
107.6%
WIFI
Rp2,130.00
Solusi Sinergi Digital
7D
-3.2%
1Y
18.3%
EMTK
Rp735.00
Elang Mahkota Teknologi
7D
-10.4%
1Y
34.9%
ISAT
Rp2,080.00
Indosat Ooredoo Hutchison
7D
-0.5%
1Y
43.0%

ISAT: Higher Margin Assumptions Will Support Future Upside Potential

Analysts have nudged their price target for Indosat Ooredoo Hutchison slightly higher to IDR 2,739 from IDR 2,730, citing updated assumptions around revenue growth, profit margins and future P/E. Together, these factors point to a modest adjustment in fair value rather than a major shift in the outlook.
TLKM
Rp3,130.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
2.6%
1Y
29.9%

TLKM: NeutraDC Stake Review And Governance Moves Will Shape Fairly Valued Outlook

Analysts have made a small upward adjustment to their IDR price target for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to IDR3,169.91 from IDR3,167.87, reflecting updated assumptions around revenue growth, profit margin, discount rate, and future P/E levels. What's in the News M&A discussions are underway as Telkom Indonesia considers selling a stake in its data center unit, NeutraDC.
LINK
Rp1,975.00
Link Net
7D
6.8%
1Y
10.6%
MTEL
Rp520.00
Dayamitra Telekomunikasi
7D
-2.8%
1Y
-8.0%
DNET
Rp9,125.00
Indoritel Makmur Internasional
7D
0.6%
1Y
-0.8%