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Indonesian (IDX) Telecom Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies45
  • 7D-11.7%
  • 3M-20.8%
  • 1Y27.2%
  • YTD-26.5%

Over the last 7 days, the Telecom industry has dropped 12%, driven by Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia declining 11%. This takes the industry's 12 month performance to a gain of 27%. Looking forward, 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
Thu, 05 Mar 2026Rp1022.2tRp371.0tRp37.6t20.1x27.2x2.8x
Sat, 31 Jan 2026Rp1337.6tRp367.0tRp39.1t22.1x34.2x3.6x
Mon, 29 Dec 2025Rp1327.6tRp367.0tRp39.1t24.4x34x3.6x
Wed, 26 Nov 2025Rp1175.7tRp366.7tRp39.1t22.5x30.1x3.2x
Fri, 24 Oct 2025Rp974.7tRp363.0tRp46.9t23.6x20.8x2.7x
Sun, 21 Sep 2025Rp961.7tRp363.0tRp46.8t26.1x20.5x2.6x
Tue, 19 Aug 2025Rp919.7tRp360.7tRp49.0t21.1x18.8x2.5x
Thu, 17 Jul 2025Rp797.9tRp360.8tRp40.6t18.7x19.6x2.2x
Sat, 14 Jun 2025Rp874.9tRp362.4tRp41.9t20.4x20.9x2.4x
Mon, 12 May 2025Rp861.7tRp361.9tRp42.0t21.1x20.5x2.4x
Wed, 09 Apr 2025Rp759.1tRp374.9tRp35.8t18.6x21.2x2x
Fri, 07 Mar 2025Rp831.8tRp369.5tRp36.8t22.7x22.6x2.3x
Sun, 02 Feb 2025Rp840.3tRp367.9tRp37.7t19.8x22.3x2.3x
Tue, 31 Dec 2024Rp851.3tRp367.2tRp38.5t21.9x22.1x2.3x
Thu, 28 Nov 2024Rp898.5tRp368.0tRp39.3t23.1x22.9x2.4x
Sat, 26 Oct 2024Rp950.7tRp368.2tRp40.7t21.7x23.3x2.6x
Mon, 23 Sep 2024Rp982.9tRp368.9tRp41.7t20.9x23.6x2.7x
Wed, 21 Aug 2024Rp921.8tRp369.0tRp41.8t18.4x22x2.5x
Fri, 19 Jul 2024Rp856.7tRp365.1tRp40.4t21x21.2x2.3x
Sun, 16 Jun 2024Rp810.9tRp367.0tRp42.5t20.6x19.1x2.2x
Tue, 14 May 2024Rp866.9tRp365.1tRp42.0t21.2x20.6x2.4x
Thu, 11 Apr 2024Rp865.2tRp362.2tRp40.4t26.3x21.4x2.4x
Sat, 09 Mar 2024Rp964.0tRp373.3tRp39.4t25.9x24.5x2.6x
Mon, 05 Feb 2024Rp989.4tRp370.8tRp38.8t26.5x25.5x2.7x
Wed, 03 Jan 2024Rp984.0tRp368.4tRp40.5t25.7x24.3x2.7x
Fri, 01 Dec 2023Rp969.5tRp368.7tRp41.0t27.3x23.6x2.6x
Sun, 29 Oct 2023Rp906.5tRp368.7tRp41.2t26.4x22x2.5x
Tue, 26 Sep 2023Rp965.1tRp368.8tRp41.4t28x23.3x2.6x
Thu, 24 Aug 2023Rp975.2tRp368.9tRp41.5t30.8x23.5x2.6x
Sat, 22 Jul 2023Rp949.5tRp364.1tRp44.1t26.5x21.6x2.6x
Mon, 19 Jun 2023Rp959.2tRp364.2tRp44.5t26.2x21.5x2.6x
Wed, 17 May 2023Rp930.3tRp364.3tRp44.2t23.8x21.1x2.6x
Fri, 14 Apr 2023Rp961.8tRp360.0tRp46.9t18.5x20.5x2.7x
Sun, 12 Mar 2023Rp943.5tRp356.7tRp56.0t18.4x16.9x2.6x
Price to Earnings Ratio

16.9x


Total Market Cap: Rp943.5tTotal Earnings: Rp56.0tTotal Revenue: Rp356.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Sector Price to Earnings3Y Average 22.9x202420252026
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 27.2x which is higher than its 3-year average PE of 22.9x.
  • 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-9.37%
Telecom-11.66%
Telecom Services and Carriers-9.45%
Wireless Telecom-11.80%
Media-15.87%
Interactive Media and Services-16.24%
Entertainment-21.54%
Industry PE
  • Investors are most optimistic about the Entertainment industry, which is trading close to its 3-year average PE ratio of 115x.
    • Analysts are expecting annual earnings growth of 9.2%, which is higher than its past year's earnings growth of 1.8% 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
MSIN MNC Digital EntertainmentRp535.001.9%
+Rp606.8b		-18.9%PE71.5x
DATA Remala AbadiRp4.09k4.3%
+Rp233.8b		126.0%PE51.6x
IBST Inti Bangun SejahteraRp5.00k0.6%
+Rp40.5b		-5.7%PE17.1x
NFCX NFC IndonesiaRp1.88k1.9%
+Rp23.2b		37.9%PS0.3x
GHON Gihon Telekomunikasi IndonesiaRp1.80k0.3%
+Rp2.8b		15.1%PE11.6x

Latest News

EXCL
Rp2,870.00
XLSMART Telecom Sejahtera
7D
-9.7%
1Y
27.6%

EXCL: Higher Fair Value And P/E Will Shape Balanced 2025 Outlook

Analysts now set their price target for XLSMART Telecom Sejahtera at IDR 3,134.75, compared with the prior fair value estimate of IDR 2,884.76. This reflects updated assumptions around discount rates, revenue growth, profit margins, and a higher future P/E framework.
MSIN
Rp535.00
MNC Digital Entertainment
7D
1.9%
1Y
-18.9%
SCMA
Rp246.00
Surya Citra Media
7D
-11.5%
1Y
16.0%
EMTK
Rp770.00
Elang Mahkota Teknologi
7D
-14.4%
1Y
33.9%
ISAT
Rp2,240.00
Indosat Ooredoo Hutchison
7D
-3.4%
1Y
45.5%

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.
TLKM
Rp3,260.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-10.7%
1Y
35.8%

TLKM: Governance Changes And Share Buybacks Will Shape Fairly Valued Outlook

Analysts have slightly raised their IDR fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from IDR 3,106.86 to IDR 3,167.87, citing updated assumptions around revenue growth, profit margins, discount rate and future P/E levels. What's in the News The company approved amendments to its Articles of Association at an Extraordinary General Meeting held on December 12, 2025, signaling changes to its formal governance framework (Key Developments).
GHON
Rp1,795.00
Gihon Telekomunikasi Indonesia
7D
0.3%
1Y
15.1%
TBIG
Rp1,585.00
Tower Bersama Infrastructure
7D
-6.8%
1Y
-27.6%
FILM
Rp5,200.00
PT.MD Entertainment
7D
-34.2%
1Y
48.6%
DATA
Rp4,090.00
Remala Abadi
7D
4.3%
1Y
126.0%
IBST
Rp5,000.00
Inti Bangun Sejahtera
7D
0.6%
1Y
-5.7%
MTEL
Rp510.00
Dayamitra Telekomunikasi
7D
-4.7%
1Y
-17.7%
NFCX
Rp1,875.00
NFC Indonesia
7D
1.9%
1Y
37.9%