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Indonesian (IDX) Telecom Services and Carriers Industry Analysis

UpdatedMay 20, 2026
DataAggregated Company Financials
Companies16
  • 7D-4.8%
  • 3M-12.3%
  • 1Y21.5%
  • YTD-25.1%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 4.8%, driven by declines in Tower Bersama Infrastructure and Sarana Menara Nusantara of 11% and 13%, respectively. In the past year, the industry has gained 21%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026Rp704.0tRp191.8tRp24.4t21.1x28.9x3.7x
Sat, 18 Apr 2026Rp719.0tRp192.3tRp28.3t22.9x25.4x3.7x
Mon, 16 Mar 2026Rp651.2tRp191.3tRp27.1t19.4x24x3.4x
Wed, 11 Feb 2026Rp755.8tRp191.5tRp27.2t20.8x27.8x3.9x
Fri, 09 Jan 2026Rp983.8tRp191.5tRp27.2t24x36.2x5.1x
Sun, 07 Dec 2025Rp892.8tRp191.5tRp27.2t23x32.9x4.7x
Tue, 04 Nov 2025Rp661.0tRp191.2tRp26.9t21.6x24.5x3.5x
Thu, 02 Oct 2025Rp596.9tRp191.3tRp28.9t22.8x20.7x3.1x
Sat, 30 Aug 2025Rp626.1tRp191.2tRp28.9t22.3x21.7x3.3x
Mon, 28 Jul 2025Rp572.8tRp192.1tRp27.5t20.6x20.8x3x
Wed, 25 Jun 2025Rp582.9tRp193.9tRp28.7t18.8x20.3x3x
Fri, 23 May 2025Rp629.4tRp193.7tRp28.6t19.1x22x3.2x
Sun, 20 Apr 2025Rp586.3tRp194.2tRp27.9t19.5x21x3x
Tue, 18 Mar 2025Rp567.5tRp191.6tRp28.5t22.5x19.9x3x
Thu, 13 Feb 2025Rp538.3tRp190.7tRp28.0t22x19.2x2.8x
Sat, 11 Jan 2025Rp558.9tRp190.7tRp28.0t23.7x20x2.9x
Mon, 09 Dec 2024Rp563.1tRp190.7tRp28.0t23.9x20.1x3x
Wed, 06 Nov 2024Rp610.3tRp192.3tRp29.5t23x20.7x3.2x
Fri, 04 Oct 2024Rp626.6tRp193.2tRp30.4t23.5x20.6x3.2x
Sun, 01 Sep 2024Rp594.4tRp193.1tRp31.4t17.5x18.9x3.1x
Tue, 30 Jul 2024Rp583.1tRp192.5tRp32.1t21.6x18.2x3x
Thu, 27 Jun 2024Rp567.6tRp192.5tRp33.0t25x17.2x2.9x
Sat, 25 May 2024Rp557.7tRp192.5tRp33.0t24.6x16.9x2.9x
Mon, 22 Apr 2024Rp575.7tRp192.1tRp33.1t24.6x17.4x3x
Wed, 20 Mar 2024Rp662.4tRp191.0tRp32.8t25.3x20.2x3.5x
Fri, 16 Feb 2024Rp677.5tRp191.1tRp32.8t22.5x20.6x3.5x
Sun, 14 Jan 2024Rp689.1tRp191.2tRp33.1t24.7x20.8x3.6x
Tue, 12 Dec 2023Rp685.9tRp191.1tRp33.0t18.8x20.8x3.6x
Thu, 09 Nov 2023Rp628.9tRp191.0tRp33.2t21.6x18.9x3.3x
Sat, 07 Oct 2023Rp646.0tRp189.7tRp29.8t26x21.7x3.4x
Mon, 04 Sep 2023Rp657.6tRp189.8tRp29.9t29.2x22x3.5x
Wed, 02 Aug 2023Rp650.1tRp188.9tRp30.8t28x21.1x3.4x
Fri, 30 Jun 2023Rp675.4tRp188.7tRp30.7t29.5x22x3.6x
Sun, 28 May 2023Rp684.9tRp188.7tRp30.7t29.5x22.3x3.6x
Price to Earnings Ratio

22.3x


Total Market Cap: Rp684.9tTotal Earnings: Rp30.7tTotal Revenue: Rp188.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Services and Carriers Industry Price to Earnings3Y Average 21.9x202420252026
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 28.9x which is higher than its 3-year average PE of 21.9x.
  • The industry is trading close to its 3-year average PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have declined 7.4% 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 industry?

ID Market-8.34%
Telecom-5.01%
Telecom Services and Carriers-4.82%
Alternative Carriers0.0031%
Integrated Telecom Services-5.95%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry which is trading above its 3-year average PE ratio of 18.3x.
    • Analysts are expecting annual earnings growth of 12.5%, which is higher than its past year's earnings growth of 3.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Integrated Telecom Services industry, expecting annual earnings growth of 12% over the next 5 years.
  • This is better than its past earnings growth rate of 3.8% per year.
  • In contrast, the Integrated Telecom Services industry is expected to see its earnings grow by 12% 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 IndonesiaRp3.10k4.7%
+Rp13.9t		12.7%PE17.2x
MORA Mora Telematika IndonesiaRp7.13k3.6%
+Rp5.9t		1,612.7%PE356.4x
DNET Indoritel Makmur InternasionalRp9.48k0.3%
+Rp354.6b		-5.0%PE104.6x
KETR Ketrosden TriasmitraRp615.002.5%
+Rp42.6b		215.4%PE12.6x

Latest News

DNET
Rp9,475.00
Indoritel Makmur Internasional
7D
0.3%
1Y
-5.0%
DATA
Rp1,770.00
Remala Abadi
7D
-11.9%
1Y
26.4%
KETR
Rp615.00
Ketrosden Triasmitra
7D
2.5%
1Y
215.4%
TLKM
Rp3,100.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
4.7%
1Y
12.7%
Narrative Update • May 08

TLKM: Share Buyback And Data Center Stake Sale Will Unlock Value

Analysts keep the fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia steady at IDR 4,500, with modest tweaks to revenue growth, profit margin, and future P/E assumptions shaping the updated price target narrative. What's in the News The company announced a share repurchase program to buy back up to 10% of its issued share capital, with a total allocation of IDR 1,000,000 million funded from existing cash, subject to shareholder approval at a General Meeting scheduled for June 8, 2026 (company announcement).
MORA
Rp7,125.00
Mora Telematika Indonesia
7D
3.6%
1Y
1,612.7%
GOLD
Rp266.00
Visi Telekomunikasi Infrastruktur
7D
-5.0%
1Y
5.6%
MTEL
Rp505.00
Dayamitra Telekomunikasi
7D
-1.0%
1Y
-23.5%
TBIG
Rp1,320.00
Tower Bersama Infrastructure
7D
-10.5%
1Y
-35.0%
TOWR
Rp410.00
Sarana Menara Nusantara
7D
-12.8%
1Y
-33.3%
Narrative Update • May 01

TOWR: Share Buyback Authorization Will Support Future Upside Potential

Analysts have kept the IDR fair value for Sarana Menara Nusantara steady at IDR 1,025, while refining assumptions around the discount rate, revenue growth, profit margins and future P/E to reflect updated views on the company’s risk profile and earnings outlook. What's in the News The Board of Directors authorized a share buyback plan on February 2, 2026, signaling an intent to repurchase shares within a defined program period (Key Developments).
BALI
Rp1,230.00
Bali Towerindo Sentra
7D
-2.8%
1Y
0.8%
LINK
Rp1,100.00
Link Net
7D
-31.3%
1Y
-31.3%
CENT
Rp81.00
Centratama Telekomunikasi Indonesia
7D
-16.5%
1Y
-25.7%