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Indonesian (IDX) Telecom Sector Analysis

UpdatedApr 01, 2026
DataAggregated Company Financials
Companies44
  • 7D0.09%
  • 3M-31.4%
  • 1Y27.3%
  • YTD-30.0%

The Telecom is pretty flat in the last 7 days, but MNC Digital Entertainment has stood out, gaining 28%. The past year has been better, since the industry has gained 27% in that time. 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
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
Thu, 11 May 2023Rp949.1tRp363.8tRp44.5t20.9x21.3x2.6x
Sat, 08 Apr 2023Rp952.5tRp359.8tRp47.4t19.5x20.1x2.6x
Price to Earnings Ratio

20.1x


Total Market Cap: Rp952.5tTotal Earnings: Rp47.4tTotal Revenue: Rp359.8tTotal 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 26.0x 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 7.6% 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-1.08%
Telecom0.092%
Interactive Media and Services11.11%
Entertainment4.31%
Telecom Services and Carriers0.11%
Media-1.21%
Wireless Telecom-1.72%
Industry PE
  • Investors are most optimistic about the Interactive Media and Services industry which is trading above its 3-year average PE ratio.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Media industry, which is trading below its 3-year average of 24.1x.
Forecasted Growth
  • Analysts are most optimistic on the Wireless Telecom industry, expecting annual earnings growth of 47% 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 6.5% 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 EntertainmentRp670.0027.6%
+Rp8.8t		19.6%PE89.5x
DNET Indoritel Makmur InternasionalRp9.18k2.2%
+Rp2.8t		-0.3%PE111.6x
EXCL XLSMART Telecom SejahteraRp3.00k2.7%
+Rp1.5t		31.6%PS1.3x
NETV MDTV Media TechnologiesRp90.0020.0%
+Rp620.4b		-37.1%PS44.9x
BALI Bali Towerindo SentraRp1.33k9.5%
+Rp452.5b		9.5%PE28.6x

Latest News

NETV
Rp90.00
MDTV Media Technologies
7D
20.0%
1Y
-37.1%
DATA
Rp2,560.00
Remala Abadi
7D
-33.0%
1Y
143.8%
MSIN
Rp670.00
MNC Digital Entertainment
7D
27.6%
1Y
19.6%
RAAM
Rp212.00
Tripar Multivision Plus
7D
11.6%
1Y
-25.9%
WIFI
Rp2,260.00
Solusi Sinergi Digital
7D
2.7%
1Y
25.6%
EMTK
Rp760.00
Elang Mahkota Teknologi
7D
-9.0%
1Y
39.4%
SCMA
Rp272.00
Surya Citra Media
7D
-2.2%
1Y
36.0%
ISAT
Rp2,100.00
Indosat Ooredoo Hutchison
7D
-4.5%
1Y
44.3%

ISAT: Higher Margin Assumptions Will Support Future Upside Potential

Analysts have nudged their price target for Indosat Ooredoo Hutchison slightly higher to IDR 2,739 from IDR 2,730, citing updated assumptions around revenue growth, profit margins and future P/E. Together, these factors point to a modest adjustment in fair value rather than a major shift in the outlook.
TLKM
Rp3,150.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-4.5%
1Y
30.7%

TLKM: NeutraDC Stake Review And Governance Moves Will Shape Fairly Valued Outlook

Analysts have made a small upward adjustment to their IDR price target for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to IDR3,169.91 from IDR3,167.87, reflecting updated assumptions around revenue growth, profit margin, discount rate, and future P/E levels. What's in the News M&A discussions are underway as Telkom Indonesia considers selling a stake in its data center unit, NeutraDC.
EXCL
Rp3,000.00
XLSMART Telecom Sejahtera
7D
2.7%
1Y
31.6%

EXCL: Fair Value And Margin Outlook Will Shape Balanced 2025 View

Analysts now set their fair value estimate for XLSMART Telecom Sejahtera at IDR 3,149.75 per share, up from IDR 3,134.75, reflecting updated assumptions around profit margin and future P/E while keeping the discount rate broadly unchanged. Valuation Changes Fair Value: IDR 3,134.75 per share to IDR 3,149.75 per share, a small upward adjustment in the valuation range.
BALI
Rp1,325.00
Bali Towerindo Sentra
7D
9.5%
1Y
9.5%
TBIG
Rp1,640.00
Tower Bersama Infrastructure
7D
0.9%
1Y
-17.6%
FILM
Rp3,090.00
PT.MD Entertainment
7D
-13.9%
1Y
8.8%
MTEL
Rp535.00
Dayamitra Telekomunikasi
7D
-0.9%
1Y
-5.3%
DNET
Rp9,175.00
Indoritel Makmur Internasional
7D
2.2%
1Y
-0.3%
MORA
Rp4,580.00
Mora Telematika Indonesia
7D
-2.1%
1Y
1,006.3%