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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies45
  • 7D-10.3%
  • 3M-28.2%
  • 1Y25.1%
  • YTD-28.9%

Over the last 7 days, the Telecom industry has dropped 10%, driven by a pullback from Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia of 14%. This takes the industry's 12 month performance to a gain of 25%. Earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026Rp988.9tRp371.1tRp37.7t20.2x26.2x2.7x
Fri, 06 Feb 2026Rp1084.0tRp367.0tRp39.1t22.2x27.7x3x
Sun, 04 Jan 2026Rp1408.0tRp367.0tRp39.1t25.1x36x3.8x
Tue, 02 Dec 2025Rp1210.5tRp366.7tRp39.1t22.7x31x3.3x
Thu, 30 Oct 2025Rp979.3tRp363.0tRp46.9t22.8x20.9x2.7x
Sat, 27 Sep 2025Rp941.6tRp363.0tRp46.8t26.2x20.1x2.6x
Mon, 25 Aug 2025Rp932.0tRp360.7tRp49.0t21.1x19x2.6x
Wed, 23 Jul 2025Rp843.0tRp360.8tRp40.7t23.3x20.7x2.3x
Fri, 20 Jun 2025Rp845.2tRp362.4tRp41.9t19.9x20.2x2.3x
Sun, 18 May 2025Rp882.7tRp362.8tRp41.8t21.8x21.1x2.4x
Tue, 15 Apr 2025Rp805.3tRp374.9tRp35.8t20.4x22.5x2.1x
Thu, 13 Mar 2025Rp818.1tRp369.5tRp36.8t20.9x22.2x2.2x
Sat, 08 Feb 2025Rp824.7tRp368.4tRp37.9t21.6x21.8x2.2x
Mon, 06 Jan 2025Rp854.9tRp367.2tRp38.5t21.5x22.2x2.3x
Wed, 04 Dec 2024Rp863.9tRp366.2tRp38.2t21.8x22.6x2.4x
Fri, 01 Nov 2024Rp945.7tRp367.6tRp40.0t21.6x23.7x2.6x
Sun, 29 Sep 2024Rp975.6tRp368.0tRp41.8t21.3x23.3x2.7x
Tue, 27 Aug 2024Rp908.3tRp369.0tRp41.8t19.4x21.7x2.5x
Thu, 25 Jul 2024Rp891.1tRp367.0tRp41.5t21.5x21.5x2.4x
Sat, 22 Jun 2024Rp828.5tRp367.0tRp42.5t21.5x19.5x2.3x
Mon, 20 May 2024Rp864.7tRp367.0tRp42.3t20.7x20.4x2.4x
Wed, 17 Apr 2024Rp910.6tRp364.1tRp41.5t26.6x21.9x2.5x
Fri, 15 Mar 2024Rp973.5tRp373.3tRp39.4t25.5x24.7x2.6x
Sun, 11 Feb 2024Rp976.1tRp372.3tRp39.4t26.4x24.7x2.6x
Tue, 09 Jan 2024Rp976.8tRp368.7tRp38.9t24.8x25.1x2.6x
Thu, 07 Dec 2023Rp973.0tRp368.8tRp40.9t27.2x23.8x2.6x
Sat, 04 Nov 2023Rp908.2tRp368.8tRp41.5t25.1x21.9x2.5x
Mon, 02 Oct 2023Rp955.2tRp368.8tRp41.4t28.4x23.1x2.6x
Wed, 30 Aug 2023Rp969.0tRp368.9tRp41.5t31.7x23.4x2.6x
Fri, 28 Jul 2023Rp931.4tRp364.1tRp44.1t25.6x21.1x2.6x
Sun, 25 Jun 2023Rp949.3tRp364.1tRp44.1t29.2x21.5x2.6x
Tue, 23 May 2023Rp933.0tRp364.3tRp44.6t27.5x20.9x2.6x
Thu, 20 Apr 2023Rp957.0tRp360.0tRp48.5t18.9x19.7x2.7x
Sat, 18 Mar 2023Rp924.0tRp356.7tRp56.0t18.4x16.5x2.6x
Price to Earnings Ratio

16.5x


Total Market Cap: Rp924.0tTotal 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 26.2x 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-8.27%
Telecom-10.25%
Telecom Services and Carriers-6.04%
Wireless Telecom-10.94%
Interactive Media and Services-11.36%
Media-14.13%
Entertainment-32.63%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 25.2x.
    • Analysts are expecting annual earnings growth of 45.6%, 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
MORA Mora Telematika IndonesiaRp6.05k3.4%
+Rp4.7t		1,361.4%PE513.1x

Latest News

EXCL
Rp2,850.00
XLSMART Telecom Sejahtera
7D
-2.7%
1Y
26.1%
TLKM
Rp2,960.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-14.2%
1Y
24.9%

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.
TOWR
Rp466.00
Sarana Menara Nusantara
7D
-5.7%
1Y
-8.6%

TOWR: Share Buyback Plan Will Support Future Upside Despite Lower Multiple

Analysts have trimmed their price target for Sarana Menara Nusantara to IDR785.91 from IDR813.33, reflecting updated assumptions around revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News The Board of Directors of PT Sarana Menara Nusantara Tbk.
MSIN
Rp494.00
MNC Digital Entertainment
7D
-14.1%
1Y
-14.1%
EMTK
Rp730.00
Elang Mahkota Teknologi
7D
-11.0%
1Y
35.2%
ISAT
Rp2,050.00
Indosat Ooredoo Hutchison
7D
-10.5%
1Y
35.3%

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.
TBIG
Rp1,480.00
Tower Bersama Infrastructure
7D
-12.9%
1Y
-32.1%
FILM
Rp3,770.00
PT.MD Entertainment
7D
-39.9%
1Y
32.3%
MORA
Rp6,050.00
Mora Telematika Indonesia
7D
3.4%
1Y
1,361.4%