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Indonesian (IDX) Telecom Sector Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies46
  • 7D1.8%
  • 3M-8.3%
  • 1Y25.1%
  • YTD-36.3%

The Telecom industry is up 1.4% in the last week, with Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia up 7.4%. This means that the industry has gained 23% over the past year. As for the next few years, earnings are expected to grow by 19% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026Rp1075.0tRp379.8tRp32.7t20.9x32.9x2.8x
Fri, 19 Jun 2026Rp948.2tRp379.5tRp31.5t20.9x30.1x2.5x
Sun, 17 May 2026Rp1029.8tRp378.6tRp32.7t23.7x31.5x2.7x
Tue, 14 Apr 2026Rp1059.7tRp372.8tRp39.7t22.9x26.7x2.8x
Thu, 12 Mar 2026Rp983.6tRp371.1tRp37.7t20.2x26.1x2.7x
Sat, 07 Feb 2026Rp1054.4tRp367.0tRp39.1t21.4x27x2.9x
Mon, 05 Jan 2026Rp1408.0tRp367.0tRp39.1t25.1x36x3.8x
Wed, 03 Dec 2025Rp1224.7tRp366.7tRp39.1t23.1x31.3x3.3x
Fri, 31 Oct 2025Rp981.1tRp363.0tRp46.9t22.5x20.9x2.7x
Sun, 28 Sep 2025Rp947.2tRp363.0tRp46.8t26.2x20.2x2.6x
Tue, 26 Aug 2025Rp961.8tRp360.7tRp49.0t22.6x19.6x2.7x
Thu, 24 Jul 2025Rp839.2tRp360.8tRp40.7t22.1x20.6x2.3x
Sat, 21 Jun 2025Rp845.0tRp362.4tRp41.9t19.1x20.2x2.3x
Mon, 19 May 2025Rp882.7tRp362.0tRp41.8t21.8x21.1x2.4x
Wed, 16 Apr 2025Rp808.4tRp374.2tRp36.0t20.9x22.5x2.2x
Fri, 14 Mar 2025Rp823.5tRp369.4tRp36.8t23.2x22.4x2.2x
Sun, 09 Feb 2025Rp824.5tRp368.4tRp37.9t21.6x21.8x2.2x
Tue, 07 Jan 2025Rp849.4tRp367.2tRp38.5t20.7x22.1x2.3x
Thu, 05 Dec 2024Rp867.5tRp366.2tRp38.2t21.4x22.7x2.4x
Sat, 02 Nov 2024Rp938.2tRp367.5tRp39.8t21.3x23.6x2.6x
Mon, 30 Sep 2024Rp975.6tRp368.0tRp41.8t21.3x23.3x2.7x
Wed, 28 Aug 2024Rp925.7tRp369.0tRp41.8t19.5x22.1x2.5x
Fri, 26 Jul 2024Rp877.3tRp367.0tRp41.5t21.1x21.1x2.4x
Sun, 23 Jun 2024Rp839.7tRp367.0tRp42.5t21.5x19.8x2.3x
Tue, 21 May 2024Rp861.4tRp367.0tRp42.3t20.7x20.3x2.3x
Thu, 18 Apr 2024Rp879.9tRp364.1tRp41.5t25.7x21.2x2.4x
Sat, 16 Mar 2024Rp967.4tRp373.3tRp39.4t26.1x24.6x2.6x
Mon, 12 Feb 2024Rp976.1tRp372.3tRp39.4t26.4x24.7x2.6x
Wed, 10 Jan 2024Rp984.8tRp368.7tRp38.8t28.1x25.4x2.7x
Fri, 08 Dec 2023Rp971.0tRp368.8tRp40.9t26.9x23.8x2.6x
Sun, 05 Nov 2023Rp908.8tRp367.9tRp41.0t26.7x22.2x2.5x
Tue, 03 Oct 2023Rp957.2tRp368.8tRp41.4t28.3x23.1x2.6x
Thu, 31 Aug 2023Rp970.8tRp368.9tRp41.5t31.7x23.4x2.6x
Sat, 29 Jul 2023Rp933.6tRp364.1tRp44.1t26.3x21.2x2.6x
Price to Earnings Ratio

21.2x


Total Market Cap: Rp933.6tTotal Earnings: Rp44.1tTotal Revenue: Rp364.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 24x202420252026
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 32.5x which is higher than its 3-year average PE of 24.0x.
  • 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 9.4% 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 Market4.81%
Telecom1.78%
Interactive Media and Services10.06%
Media6.72%
Wireless Telecom3.27%
Telecom Services and Carriers1.74%
Entertainment-7.11%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 73.0x.
    • Analysts are expecting annual earnings growth of 49.4%, which is higher than its past year's earnings growth of 15.5% per year.
  • Investors are most pessimistic about the Media industry, which is trading below its 3-year average of 24.0x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 49% over the next 5 years.
  • This is better than its past earnings growth rate of 15% per year.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings grow by 9.3% 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
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp2.75k7.4%
+Rp18.8t		-3.5%PE16.4x
ISAT IndosatRp1.95k4.6%
+Rp2.7t		-20.9%PE11x
TOWR Sarana Menara NusantaraRp412.009.0%
+Rp2.0t		-36.6%PE6.3x
EMTK Elang Mahkota TeknologiRp550.005.8%
+Rp1.8t		-9.1%PE11.9x
WIFI Solusi Sinergi DigitalRp2.06k12.6%
+Rp1.2t		-27.2%PE22.3x

Latest News

TLKM
Rp2,750.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
7.4%
1Y
-3.5%
Narrative Update • Jul 21

TLKM: Buybacks And Governance Shifts Will Shape A Cautiously Balanced Outlook

Analysts have trimmed their price target for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to IDR 2,902.82 from IDR 3,023.79, citing updated expectations for revenue growth, profit margins, and a higher future P/E assumption. What’s in the News for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Announced an annual dividend of IDR 223.1659 per share, with an ex date set for June 18, 2026, a record date of June 19, 2026, and payment scheduled for July 10, 2026.
TOWR
Rp412.00
Sarana Menara Nusantara
7D
9.0%
1Y
-36.6%
Narrative Update • Jul 16

TOWR: Lower P/E Assumptions And Margin Outlook Will Shape Balanced Upside

Analysts have reduced their price target for Sarana Menara Nusantara from IDR 525 to IDR 390. They cited updated assumptions that include a lower discount rate, a slightly adjusted profit margin outlook, and a revised future P/E multiple, along with neutral changes to revenue growth expectations.
WIFI
Rp2,060.00
Solusi Sinergi Digital
7D
12.6%
1Y
-27.2%
BLTZ
Rp2,540.00
Graha Layar Prima
7D
-2.3%
1Y
41.1%
DATA
Rp2,120.00
Remala Abadi
7D
-11.3%
1Y
16.5%
MTEL
Rp456.00
Dayamitra Telekomunikasi
7D
-2.1%
1Y
-25.2%
RANS
Rp240.00
Rans Entertainmen Indonesia
7D
10.1%
1Y
n/a
ISAT
Rp1,945.00
Indosat
7D
4.6%
1Y
-20.9%
MDIA
Rp82.00
Intermedia Capital
7D
18.8%
1Y
290.5%
MSIN
Rp448.00
MNC Digital Entertainment
7D
-2.6%
1Y
-10.4%
EXCL
Rp2,570.00
XLSMART Telecom Sejahtera
7D
1.6%
1Y
0%
Narrative Update • Jun 25

EXCL: Higher Future P/E Expectations Will Support More Optimistic Prospects

The analyst price target for XLSMART Telecom Sejahtera has been adjusted slightly lower to IDR 3,227.62 from IDR 3,272.50, with analysts citing updated assumptions for fair value, revenue growth, profit margins, and future P/E as the basis for this revision. What's in the News for XLSMART Telecom Sejahtera The analyst price target for XLSMART Telecom Sejahtera has been revised to IDR 3,227.62 from IDR 3,272.50, based on updated assumptions for fair value, revenue growth, profit margins, and future P/E.
LINK
Rp1,415.00
Link Net
7D
-1.0%
1Y
-16.8%
FILM
Rp1,315.00
PT.MD Entertainment
7D
-20.5%
1Y
-13.8%
TBIG
Rp1,415.00
Tower Bersama Infrastructure
7D
-1.7%
1Y
-28.5%
EMTK
Rp550.00
Elang Mahkota Teknologi
7D
5.8%
1Y
-9.1%
DNET
Rp9,375.00
Indoritel Makmur Internasional
7D
-3.8%
1Y
2.7%