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Indonesian (IDX) Telecom Services and Carriers Industry Analysis

UpdatedJan 11, 2026
DataAggregated Company Financials
Companies16
  • 7D1.4%
  • 3M57.0%
  • 1Y68.4%
  • YTD1.4%

The Telecom Services and Carriers industry is up 1.4% in the last week, with Mora Telematika Indonesia up 9.0%. Meanwhile, Tower Bersama Infrastructure actually underperformed within the industry, shrinking 10% in the last week. This takes the industry's 12 month performance to a gain of 68%. Earnings are forecast to grow by 6.7% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 Jan 2026Rp952.2tRp191.5tRp27.2t24x35.1x5x
Tue, 09 Dec 2025Rp909.6tRp191.5tRp27.2t23.4x33.5x4.8x
Thu, 06 Nov 2025Rp683.9tRp191.2tRp26.9t21.1x25.4x3.6x
Sat, 04 Oct 2025Rp601.3tRp191.3tRp28.9t22.5x20.8x3.1x
Mon, 01 Sep 2025Rp620.9tRp191.2tRp28.9t22.3x21.5x3.2x
Wed, 30 Jul 2025Rp581.5tRp192.1tRp27.5t20.4x21.2x3x
Fri, 27 Jun 2025Rp588.7tRp193.9tRp28.7t17.8x20.5x3x
Sun, 25 May 2025Rp618.0tRp193.7tRp28.6t18.8x21.6x3.2x
Tue, 22 Apr 2025Rp588.7tRp194.2tRp27.9t19.2x21.1x3x
Thu, 20 Mar 2025Rp569.4tRp191.6tRp28.5t21.7x20x3x
Sat, 15 Feb 2025Rp544.7tRp190.7tRp28.0t23.3x19.5x2.9x
Mon, 13 Jan 2025Rp558.9tRp190.7tRp28.0t23.7x20x2.9x
Wed, 11 Dec 2024Rp566.8tRp190.7tRp28.0t24x20.2x3x
Fri, 08 Nov 2024Rp608.1tRp192.7tRp29.5t22.6x20.6x3.2x
Sun, 06 Oct 2024Rp626.4tRp193.2tRp30.4t24.1x20.6x3.2x
Tue, 03 Sep 2024Rp602.7tRp193.1tRp31.4t18.7x19.2x3.1x
Thu, 01 Aug 2024Rp576.6tRp193.1tRp31.5t22.1x18.3x3x
Sat, 29 Jun 2024Rp570.4tRp192.5tRp33.0t24.7x17.3x3x
Mon, 27 May 2024Rp557.7tRp192.5tRp33.0t24.6x16.9x2.9x
Wed, 24 Apr 2024Rp575.5tRp192.1tRp33.1t24.5x17.4x3x
Fri, 22 Mar 2024Rp656.9tRp191.0tRp32.8t25.1x20x3.4x
Sun, 18 Feb 2024Rp689.1tRp191.1tRp32.8t22.4x21x3.6x
Tue, 16 Jan 2024Rp687.5tRp191.2tRp33.1t24.1x20.8x3.6x
Thu, 14 Dec 2023Rp682.7tRp191.1tRp33.0t20.8x20.7x3.6x
Sat, 11 Nov 2023Rp637.0tRp190.9tRp33.2t21.1x19.2x3.3x
Mon, 09 Oct 2023Rp651.8tRp189.7tRp29.8t26x21.9x3.4x
Wed, 06 Sep 2023Rp659.3tRp189.8tRp29.9t29.1x22.1x3.5x
Fri, 04 Aug 2023Rp644.0tRp189.8tRp29.7t28.9x21.7x3.4x
Sun, 02 Jul 2023Rp675.4tRp188.7tRp30.7t29.5x22x3.6x
Tue, 30 May 2023Rp684.9tRp188.7tRp30.7t29.9x22.3x3.6x
Thu, 27 Apr 2023Rp716.8tRp187.2tRp30.7t25.5x23.3x3.8x
Sat, 25 Mar 2023Rp682.5tRp185.5tRp31.4t25.3x21.8x3.7x
Mon, 20 Feb 2023Rp659.0tRp185.2tRp31.4t22.3x21x3.6x
Wed, 18 Jan 2023Rp677.8tRp185.2tRp31.4t22.8x21.6x3.7x
Price to Earnings Ratio

21.6x


Total Market Cap: Rp677.8tTotal Earnings: Rp31.4tTotal Revenue: Rp185.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Services and Carriers Industry Price to Earnings3Y Average 21.2x202420252026
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 35.1x which is higher than its 3-year average PE of 21.2x.
  • The 3-year average PS ratio of 3.3x is lower than the industry's current PS ratio of 5.0x.
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 Market1.79%
Telecom1.42%
Telecom Services and Carriers1.35%
Integrated Telecom Services1.67%
Alternative Carriers-0.44%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 18.1x.
    • Analysts are expecting annual earnings growth of 6.7%, 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 6.7% 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 6.7% 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
MORA Mora Telematika IndonesiaRp13.00k9.0%
+Rp25.4t		3,150.0%PE1102.5x
DATA Remala AbadiRp5.53k25.6%
+Rp1.5t		622.2%PE69.7x
IBST Inti Bangun SejahteraRp5.15k4.0%
+Rp270.2b		-8.4%PE17.6x
KETR Ketrosden TriasmitraRp1.15k5.5%
+Rp170.5b		564.7%PE24x
CENT Centratama Telekomunikasi IndonesiaRp158.001.3%
+Rp62.4b		222.4%PS2x

Latest News

TLKM
Rp3,450.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-0.6%
1Y
28.7%

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
Rp5,525.00
Remala Abadi
7D
25.6%
1Y
622.2%
TOWR
Rp570.00
Sarana Menara Nusantara
7D
-2.6%
1Y
-15.6%

TOWR: Higher Rate Assumptions Will Balance Margin Pressure And Earnings Multiple

Analysts have trimmed their fair value estimate for Sarana Menara Nusantara from Rp700 to Rp600, citing updated assumptions that include a higher discount rate, different revenue growth expectations, a slightly lower profit margin, and a higher future P/E multiple. Valuation Changes Fair Value Estimate reduced from IDR700 to IDR600, a reduction of IDR100 per share.
GHON
Rp1,710.00
Gihon Telekomunikasi Indonesia
7D
4.3%
1Y
8.6%
BALI
Rp1,640.00
Bali Towerindo Sentra
7D
-3.5%
1Y
7.9%
MTEL
Rp600.00
Dayamitra Telekomunikasi
7D
-9.1%
1Y
-11.1%
TBIG
Rp2,330.00
Tower Bersama Infrastructure
7D
-10.4%
1Y
14.8%
KETR
Rp1,150.00
Ketrosden Triasmitra
7D
5.5%
1Y
564.7%
GOLD
Rp350.00
Visi Telekomunikasi Infrastruktur
7D
2.3%
1Y
26.8%
CENT
Rp158.00
Centratama Telekomunikasi Indonesia
7D
1.3%
1Y
222.4%
LINK
Rp3,740.00
Link Net
7D
-7.2%
1Y
218.3%
KBLV
Rp185.00
First Media
7D
-3.6%
1Y
125.6%
MORA
Rp13,000.00
Mora Telematika Indonesia
7D
9.0%
1Y
3,150.0%
IBST
Rp5,150.00
Inti Bangun Sejahtera
7D
4.0%
1Y
-8.4%