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Indonesian (IDX) Telecom Sector Analysis

UpdatedJun 06, 2026
DataAggregated Company Financials
Companies45
  • 7D-9.9%
  • 3M-10.5%
  • 1Y7.7%
  • YTD-34.9%

Over the last 7 days, the Telecom industry has dropped 9.9%, driven by declines in Mora Telematika Indonesia and Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia of 17% and 8.9%, respectively. In contrast, MNC Digital Entertainment has gained 32%. This takes the industry's 12 month performance to a gain of 7.7%. Looking forward, earnings are forecast to grow by 20% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 06 Jun 2026Rp912.9tRp379.5tRp31.5t17.3x29x2.4x
Mon, 04 May 2026Rp976.4tRp374.8tRp40.2t23.1x24.3x2.6x
Wed, 01 Apr 2026Rp972.5tRp373.7tRp37.4t20.3x26x2.6x
Fri, 27 Feb 2026Rp1149.6tRp371.0tRp37.6t21.4x30.6x3.1x
Sun, 25 Jan 2026Rp1488.5tRp367.0tRp39.1t23.2x38.1x4.1x
Tue, 23 Dec 2025Rp1300.1tRp367.0tRp39.1t23.5x33.3x3.5x
Thu, 20 Nov 2025Rp1152.0tRp366.7tRp39.1t22.5x29.5x3.1x
Sat, 18 Oct 2025Rp955.7tRp363.0tRp46.8t24x20.4x2.6x
Mon, 15 Sep 2025Rp935.8tRp362.7tRp46.8t24.4x20x2.6x
Wed, 13 Aug 2025Rp913.9tRp360.9tRp49.0t21.7x18.6x2.5x
Fri, 11 Jul 2025Rp845.0tRp362.5tRp41.6t19.7x20.3x2.3x
Sun, 08 Jun 2025Rp883.8tRp362.4tRp41.9t20.8x21.1x2.4x
Tue, 06 May 2025Rp878.1tRp362.2tRp42.1t23.2x20.8x2.4x
Thu, 03 Apr 2025Rp804.7tRp375.0tRp35.8t21.6x22.5x2.1x
Sat, 01 Mar 2025Rp823.1tRp369.3tRp36.8t22.5x22.4x2.2x
Mon, 27 Jan 2025Rp848.8tRp367.9tRp37.7t20x22.5x2.3x
Wed, 25 Dec 2024Rp845.0tRp367.2tRp38.5t20.3x22x2.3x
Fri, 22 Nov 2024Rp903.7tRp368.0tRp39.3t22.9x23x2.5x
Sun, 20 Oct 2024Rp963.4tRp368.3tRp40.8t21.5x23.6x2.6x
Tue, 17 Sep 2024Rp1002.4tRp369.0tRp41.8t21.8x24x2.7x
Thu, 15 Aug 2024Rp893.4tRp368.6tRp41.8t19.7x21.4x2.4x
Sat, 13 Jul 2024Rp889.4tRp367.0tRp41.5t21.7x21.4x2.4x
Mon, 10 Jun 2024Rp853.6tRp367.0tRp42.5t22x20.1x2.3x
Wed, 08 May 2024Rp864.8tRp365.5tRp42.0t23.4x20.6x2.4x
Fri, 05 Apr 2024Rp865.7tRp361.9tRp40.2t26x21.5x2.4x
Sun, 03 Mar 2024Rp977.6tRp373.1tRp39.4t26.3x24.8x2.6x
Tue, 30 Jan 2024Rp986.3tRp368.7tRp38.8t26.5x25.4x2.7x
Thu, 28 Dec 2023Rp971.9tRp368.4tRp40.5t27.3x24x2.6x
Sat, 25 Nov 2023Rp942.2tRp368.6tRp41.0t27.1x23x2.6x
Mon, 23 Oct 2023Rp932.2tRp368.8tRp41.2t26.4x22.6x2.5x
Wed, 20 Sep 2023Rp939.9tRp368.9tRp41.5t30x22.7x2.5x
Fri, 18 Aug 2023Rp983.3tRp368.9tRp41.6t28.8x23.7x2.7x
Sun, 16 Jul 2023Rp962.0tRp364.1tRp44.1t26.9x21.8x2.6x
Tue, 13 Jun 2023Rp959.1tRp364.2tRp44.6t26.2x21.5x2.6x
Price to Earnings Ratio

21.5x


Total Market Cap: Rp959.1tTotal Earnings: Rp44.6tTotal Revenue: Rp364.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 23.6x202420252026
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 29.0x which is higher than its 3-year average PE of 23.6x.
  • 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 11% 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-8.61%
Telecom-9.86%
Entertainment3.83%
Telecom Services and Carriers-10.08%
Wireless Telecom-10.16%
Interactive Media and Services-13.33%
Media-17.55%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 46.4x.
    • Analysts are expecting annual earnings growth of 50.7%, which is higher than its past year's earnings growth of 15.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Entertainment industry is expected to see its earnings grow by 3.7% 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 EntertainmentRp540.0031.7%
+Rp7.9t		8.0%PE31.8x
LINK Link NetRp1.18k4.4%
+Rp137.7b		-27.6%PS1.1x
FORU Fortune IndonesiaRp1.62k8.0%
+Rp55.8b		5.5%PS23.6x

Latest News

EXCL
Rp2,650.00
XLSMART Telecom Sejahtera
7D
-6.4%
1Y
20.5%
Narrative Update • Jun 05

EXCL: Higher Profit Margins And Firm P/E Will Support Future Upside Potential

Analysts have kept the fair value estimate for XLSMART Telecom Sejahtera steady at IDR 4,500, while updating their assumptions to reflect slower projected revenue growth, a higher profit margin, and a lower future P/E multiple. What's in the News No recent news items for XLSMART Telecom Sejahtera are available from the specified sources.
ISAT
Rp1,880.00
Indosat Ooredoo Hutchison
7D
-13.0%
1Y
-9.6%
Narrative Update • Jun 04

ISAT: Stable P/E Assumptions And Upcoming Dividend Will Drive Future Upside

Analysts have kept their IDR price target for Indosat Ooredoo Hutchison steady, citing only very small tweaks to revenue growth, profit margin and forward P/E assumptions that do not materially change their view on the stock. What's in the News PT Indosat Ooredoo Hutchison Tbk declared an annual dividend of IDR 111.0000 per share, based on a company announcement.
EMTK
Rp520.00
Elang Mahkota Teknologi
7D
-15.4%
1Y
-8.0%
WIFI
Rp1,445.00
Solusi Sinergi Digital
7D
-29.5%
1Y
-29.2%
MSIN
Rp540.00
MNC Digital Entertainment
7D
31.7%
1Y
8.0%
TLKM
Rp2,760.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-8.9%
1Y
-2.8%
Narrative Update • May 25

TLKM: Share Buyback And Governance Delays Will Shape Fairly Valued Outlook

Analysts now see fair value for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia at about IDR 3,023.79 per share, down from roughly IDR 3,169.91, reflecting updated assumptions for slower revenue growth, slightly higher profit margins, and a modestly lower future P/E multiple. What's in the News Announced a share repurchase program to buy back up to 10% of issued share capital, with funding of IDR 1,000,000 million sourced from existing cash, subject to shareholder approval at the General Meeting scheduled for June 8, 2026 (Key Developments).
FORU
Rp1,620.00
Fortune Indonesia
7D
8.0%
1Y
5.5%
LINK
Rp1,180.00
Link Net
7D
4.4%
1Y
-27.6%
FILM
Rp1,780.00
PT.MD Entertainment
7D
-17.2%
1Y
-30.2%
DNET
Rp10,075.00
Indoritel Makmur Internasional
7D
-8.0%
1Y
3.9%
MORA
Rp5,700.00
Mora Telematika Indonesia
7D
-17.4%
1Y
1,231.8%