Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indonesian (IDX) Telecom Services and Carriers Industry Analysis

UpdatedJan 22, 2026
DataAggregated Company Financials
Companies16
  • 7D-0.3%
  • 3M51.0%
  • 1Y70.6%
  • YTD4.7%

In the last week, the Telecom Services and Carriers industry is flat overall, with Tower Bersama Infrastructure standing out by going down 3.1%. The past year has been better, since the industry has gained 71% in that time. As for the next few years, earnings are expected to grow by 6.8% per annum.

Industry Valuation and Performance

Has the Indonesian Telecom Services and Carriers Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026Rp983.9tRp191.5tRp27.2t23.1x36.2x5.1x
Sun, 21 Dec 2025Rp879.1tRp191.5tRp27.2t22.5x32.4x4.6x
Tue, 18 Nov 2025Rp784.8tRp191.5tRp27.2t21.6x28.9x4.1x
Thu, 16 Oct 2025Rp607.6tRp191.3tRp28.9t21.1x21.1x3.2x
Sat, 13 Sep 2025Rp596.5tRp191.1tRp28.8t22.1x20.7x3.1x
Mon, 11 Aug 2025Rp582.3tRp190.9tRp28.8t21.5x20.3x3x
Wed, 09 Jul 2025Rp593.8tRp193.9tRp28.6t17.9x20.8x3.1x
Fri, 06 Jun 2025Rp629.5tRp193.9tRp28.7t18.7x21.9x3.2x
Sun, 04 May 2025Rp612.9tRp193.2tRp28.5t19.4x21.5x3.2x
Tue, 01 Apr 2025Rp564.8tRp191.9tRp28.7t21.9x19.7x2.9x
Thu, 27 Feb 2025Rp594.7tRp191.4tRp28.4t24.2x20.9x3.1x
Sat, 25 Jan 2025Rp564.8tRp190.7tRp28.0t26.2x20.2x3x
Mon, 23 Dec 2024Rp537.4tRp190.7tRp28.0t21.4x19.2x2.8x
Wed, 20 Nov 2024Rp607.7tRp192.6tRp29.1t23x20.9x3.2x
Fri, 18 Oct 2024Rp642.4tRp193.2tRp30.4t23.5x21.2x3.3x
Sun, 15 Sep 2024Rp662.1tRp193.1tRp31.4t22.2x21.1x3.4x
Tue, 13 Aug 2024Rp570.0tRp193.1tRp31.4t17.7x18.2x3x
Thu, 11 Jul 2024Rp593.5tRp192.5tRp32.0t21.8x18.5x3.1x
Sat, 08 Jun 2024Rp576.2tRp192.5tRp33.0t25.2x17.5x3x
Mon, 06 May 2024Rp577.8tRp192.2tRp33.0t23.5x17.5x3x
Wed, 03 Apr 2024Rp573.3tRp188.6tRp32.5t25.2x17.7x3x
Fri, 01 Mar 2024Rp675.6tRp191.1tRp32.8t23.9x20.6x3.5x
Sun, 28 Jan 2024Rp677.9tRp191.2tRp33.1t23.1x20.5x3.5x
Tue, 26 Dec 2023Rp689.5tRp191.1tRp33.0t23.1x20.9x3.6x
Thu, 23 Nov 2023Rp648.1tRp190.9tRp33.2t20.8x19.5x3.4x
Sat, 21 Oct 2023Rp644.2tRp189.7tRp29.8t24.1x21.6x3.4x
Mon, 18 Sep 2023Rp651.9tRp189.8tRp29.9t28.7x21.8x3.4x
Wed, 16 Aug 2023Rp661.5tRp189.8tRp29.9t30.5x22.1x3.5x
Fri, 14 Jul 2023Rp665.3tRp188.7tRp30.7t28.9x21.7x3.5x
Sun, 11 Jun 2023Rp686.5tRp188.7tRp30.7t29.6x22.4x3.6x
Tue, 09 May 2023Rp680.1tRp188.7tRp31.0t25x21.9x3.6x
Thu, 06 Apr 2023Rp681.6tRp187.0tRp29.4t24.9x23.2x3.6x
Sat, 04 Mar 2023Rp672.9tRp185.2tRp31.4t23.4x21.4x3.6x
Mon, 30 Jan 2023Rp680.2tRp185.2tRp31.4t21.9x21.6x3.7x
Price to Earnings Ratio

21.6x


Total Market Cap: Rp680.2tTotal Earnings: Rp31.4tTotal Revenue: Rp185.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Services and Carriers Industry Price to Earnings3Y Average 21.4x202420252026
Current Industry PE
  • Investors are optimistic on the Indonesian Telecom industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 36.2x which is higher than its 3-year average PE of 21.4x.
  • The 3-year average PS ratio of 3.4x is lower than the industry's current PS ratio of 5.1x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have declined 4.8% 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 industry?

ID Market-0.091%
Telecom-0.29%
Telecom Services and Carriers-0.31%
Alternative Carriers0.23%
Integrated Telecom Services-0.40%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 18.2x.
    • Analysts are expecting annual earnings growth of 6.8%, which is higher than its past year's earnings growth of 1.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 6.8% over the next 5 years.
  • This is better than its past earnings growth rate of 1.7% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings grow by 6.8% 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 IndonesiaRp3.74k2.2%
+Rp7.9t		38.0%PE17x
TOWR Sarana Menara NusantaraRp620.0012.7%
+Rp4.1t		-10.8%PE10.5x
MORA Mora Telematika IndonesiaRp13.58k0.4%
+Rp1.2t		3,276.9%PE1151.3x
DNET Indoritel Makmur InternasionalRp9.08k0.3%
+Rp354.6b		-0.8%PE110.4x
CENT Centratama Telekomunikasi IndonesiaRp160.003.2%
+Rp155.9b		255.6%PS2x

Latest News

TOWR
Rp620.00
Sarana Menara Nusantara
7D
12.7%
1Y
-10.8%

TOWR: Higher Required Returns Will Still Support Upside With Firm Margins

Narrative Update Analysts have trimmed their fair value estimate for Sarana Menara Nusantara to Rp813 from around Rp847, pointing to slightly higher discount rate assumptions and more measured revenue growth expectations, partly offset by a small uplift in projected profit margins and a modestly lower future P/E multiple. Valuation Changes Fair Value: trimmed from IDR846.92 to IDR813.33 per share, a small reduction in the central estimate.
IBST
Rp5,300.00
Inti Bangun Sejahtera
7D
-10.9%
1Y
6.4%
TLKM
Rp3,740.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
2.2%
1Y
38.0%

TLKM: Infrastructure Spinoff And Streamlining Will Unlock Future Capital Upside

Analysts have lifted their price target for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia from IDR 3,900 to about IDR 4,497, citing expectations that the market is still not fully reflecting the potential capital benefits from the company’s infrastructure spinoff and streamlining plans. Analyst Commentary Recent research has highlighted a more constructive tone around Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia, with some bullish analysts revisiting their valuation frameworks in light of the planned infrastructure spinoff and broader streamlining plans.
DATA
Rp4,970.00
Remala Abadi
7D
-11.6%
1Y
160.2%
GHON
Rp1,790.00
Gihon Telekomunikasi Indonesia
7D
2.9%
1Y
14.0%
BALI
Rp1,535.00
Bali Towerindo Sentra
7D
-6.1%
1Y
-4.1%
MTEL
Rp600.00
Dayamitra Telekomunikasi
7D
-2.4%
1Y
-12.4%
TBIG
Rp2,170.00
Tower Bersama Infrastructure
7D
-3.1%
1Y
5.9%
KETR
Rp980.00
Ketrosden Triasmitra
7D
-8.8%
1Y
463.2%
GOLD
Rp330.00
Visi Telekomunikasi Infrastruktur
7D
-1.8%
1Y
19.6%
CENT
Rp160.00
Centratama Telekomunikasi Indonesia
7D
3.2%
1Y
255.6%
LINK
Rp3,460.00
Link Net
7D
-0.6%
1Y
49.8%
KBLV
Rp187.00
First Media
7D
0.5%
1Y
120.0%
DNET
Rp9,075.00
Indoritel Makmur Internasional
7D
0.3%
1Y
-0.8%
MORA
Rp13,575.00
Mora Telematika Indonesia
7D
0.4%
1Y
3,276.9%
JAST
Rp101.00
PT. Jasnita Telekomindo
7D
1.0%
1Y
55.4%