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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies44
  • 7D7.5%
  • 3M-20.3%
  • 1Y43.2%
  • YTD-24.8%

The Telecom industry is up 7.5% in the last week, with MNC Digital Entertainment up 58%. In the same time, PT.MD Entertainment was down 14%. This means that the industry has gained 43% over the past year. 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, 11 Apr 2026Rp1055.2tRp372.8tRp39.7t22.1x26.6x2.8x
Mon, 09 Mar 2026Rp1016.3tRp371.1tRp37.7t20.4x27x2.7x
Wed, 04 Feb 2026Rp1189.8tRp367.0tRp39.1t22.3x30.4x3.2x
Fri, 02 Jan 2026Rp1414.1tRp367.0tRp39.1t25.4x36.2x3.9x
Sun, 30 Nov 2025Rp1178.4tRp366.7tRp39.1t22.4x30.2x3.2x
Tue, 28 Oct 2025Rp974.7tRp363.0tRp46.9t23.1x20.8x2.7x
Thu, 25 Sep 2025Rp946.6tRp363.0tRp46.8t26.3x20.2x2.6x
Sat, 23 Aug 2025Rp925.2tRp360.7tRp49.0t21.1x18.9x2.6x
Mon, 21 Jul 2025Rp826.8tRp360.8tRp40.6t20.4x20.3x2.3x
Wed, 18 Jun 2025Rp861.5tRp362.4tRp41.9t20.4x20.5x2.4x
Fri, 16 May 2025Rp875.4tRp362.0tRp41.9t22.1x20.9x2.4x
Sun, 13 Apr 2025Rp774.9tRp375.1tRp35.6t19.9x21.8x2.1x
Tue, 11 Mar 2025Rp823.2tRp369.5tRp36.8t23.6x22.3x2.2x
Thu, 06 Feb 2025Rp831.6tRp367.9tRp37.7t20.1x22.1x2.3x
Sat, 04 Jan 2025Rp854.9tRp367.2tRp38.5t21.5x22.2x2.3x
Mon, 02 Dec 2024Rp845.2tRp366.2tRp38.2t21.5x22.1x2.3x
Wed, 30 Oct 2024Rp938.4tRp368.2tRp40.7t21.6x23.1x2.5x
Fri, 27 Sep 2024Rp991.5tRp368.9tRp41.7t21.1x23.8x2.7x
Sun, 25 Aug 2024Rp908.2tRp369.0tRp41.8t19.6x21.7x2.5x
Tue, 23 Jul 2024Rp840.2tRp365.1tRp40.4t21x20.8x2.3x
Thu, 20 Jun 2024Rp822.4tRp367.0tRp42.5t21.4x19.4x2.2x
Sat, 18 May 2024Rp862.9tRp365.1tRp42.0t20.7x20.6x2.4x
Mon, 15 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Wed, 13 Mar 2024Rp964.0tRp373.3tRp39.4t26.1x24.5x2.6x
Fri, 09 Feb 2024Rp976.1tRp370.8tRp38.8t26.4x25.2x2.6x
Sun, 07 Jan 2024Rp976.0tRp368.7tRp38.9t24.1x25.1x2.6x
Tue, 05 Dec 2023Rp968.0tRp368.6tRp40.8t27.2x23.7x2.6x
Thu, 02 Nov 2023Rp903.3tRp365.2tRp42.2t26x21.4x2.5x
Sat, 30 Sep 2023Rp955.0tRp368.8tRp41.4t28.4x23.1x2.6x
Mon, 28 Aug 2023Rp971.7tRp368.9tRp41.5t31.4x23.4x2.6x
Wed, 26 Jul 2023Rp950.3tRp364.1tRp44.1t26.5x21.6x2.6x
Fri, 23 Jun 2023Rp959.4tRp364.2tRp44.5t26.8x21.5x2.6x
Sun, 21 May 2023Rp933.0tRp364.3tRp44.2t25.5x21.1x2.6x
Tue, 18 Apr 2023Rp955.5tRp360.0tRp48.5t19x19.7x2.7x
Price to Earnings Ratio

19.7x


Total Market Cap: Rp955.5tTotal Earnings: Rp48.5tTotal Revenue: Rp360.0tTotal 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 26.6x 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 6.4% 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 Market7.52%
Telecom7.51%
Entertainment26.82%
Media13.52%
Wireless Telecom6.10%
Telecom Services and Carriers4.13%
Interactive Media and Services-2.60%
Industry PE
  • Investors are most optimistic about the Wireless Telecom industry which is trading above its 3-year average PE ratio of 28.0x.
    • Analysts are expecting annual earnings growth of 47.5%, 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 48% 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 6.7% 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 EntertainmentRp1.32k58.1%
+Rp29.4t		175.0%PE82.1x
MORA Mora Telematika IndonesiaRp4.72k15.4%
+Rp14.9t		1,074.1%PE248.9x
EMTK Elang Mahkota TeknologiRp875.0019.0%
+Rp8.6t		71.6%PE7.9x
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp3.21k2.6%
+Rp7.9t		37.8%PE14.6x
EXCL XLSMART Telecom SejahteraRp3.16k9.0%
+Rp4.7t		43.6%PS1.4x

Latest News

EMTK
Rp875.00
Elang Mahkota Teknologi
7D
19.0%
1Y
71.6%
ISAT
Rp2,160.00
Indosat Ooredoo Hutchison
7D
3.8%
1Y
50.5%

ISAT: Future Returns Will Likely Track Fair Value With Adjusted Margin Expectations

Analysts have nudged their fair value estimate for Indosat Ooredoo Hutchison slightly higher to IDR 2,042.63 from IDR 2,040.32, reflecting updated assumptions around revenue growth, profit margin and future P/E. Valuation Changes Fair Value: IDR 2,042.63, marginally above the previous IDR 2,040.32 estimate.
TLKM
Rp3,210.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
2.6%
1Y
37.8%

TLKM: NeutraDC Stake Talks And Governance Events Will Shape Fairly Valued Outlook

Analysts now see Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's fair value holding at IDR 3,169.91, with the modest shifts in discount rate, revenue growth and profit margin assumptions resulting in only a slight tweak in the implied future P/E outlook. What's in the News M&A discussions are ongoing around a potential sale of a majority stake in Telkom Indonesia's data center unit, NeutraDC.
DATA
Rp1,980.00
Remala Abadi
7D
-9.2%
1Y
93.2%
TOWR
Rp492.00
Sarana Menara Nusantara
7D
-0.4%
1Y
-3.5%
EXCL
Rp3,160.00
XLSMART Telecom Sejahtera
7D
9.0%
1Y
43.6%
AWAN
Rp150.00
Era Digital Media
7D
-2.6%
1Y
-49.7%
NFCX
Rp1,810.00
NFC Indonesia
7D
-1.4%
1Y
32.1%
BHIT
Rp34.00
MNC Asia Holding
7D
-5.6%
1Y
47.8%
MSIN
Rp1,320.00
MNC Digital Entertainment
7D
58.1%
1Y
175.0%
FILM
Rp2,500.00
PT.MD Entertainment
7D
-14.1%
1Y
23.2%
TBIG
Rp1,715.00
Tower Bersama Infrastructure
7D
5.5%
1Y
-11.4%
MORA
Rp4,720.00
Mora Telematika Indonesia
7D
15.4%
1Y
1,074.1%
SCMA
Rp290.00
Surya Citra Media
7D
11.5%
1Y
55.1%
FORU
Rp1,145.00
Fortune Indonesia
7D
-2.6%
1Y
43.1%
LINK
Rp1,840.00
Link Net
7D
-6.8%
1Y
-5.6%