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Indonesian (IDX) Telecom Services and Carriers Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies16
  • 7D-8.4%
  • 3M-25.6%
  • 1Y23.5%
  • YTD-30.7%

Over the last 7 days, the Telecom Services and Carriers industry has dropped 8.4%, driven by a pullback from Mora Telematika Indonesia of 21%. On the other hand First Media is actually up 9.7%. In the past year, the industry has gained 24%. As for the next few years, earnings are expected to grow by 6.6% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Tue, 25 Apr 2023Rp703.3tRp187.2tRp30.7t25.4x22.9x3.8x
Thu, 23 Mar 2023Rp690.5tRp185.5tRp31.4t25.5x22x3.7x
Price to Earnings Ratio

22x


Total Market Cap: Rp690.5tTotal Earnings: Rp31.4tTotal Revenue: Rp185.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Services and Carriers Industry Price to Earnings3Y Average 21.8x202420252026
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 24.0x which is higher than its 3-year average PE of 21.8x.
  • 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 4.7% 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-7.00%
Telecom-7.92%
Telecom Services and Carriers-8.37%
Alternative Carriers-2.24%
Integrated Telecom Services-9.79%
Industry PE
  • Investors are most optimistic about the Integrated Telecom Services industry, which is trading close to its 3-year average PE ratio of 18.4x.
    • Analysts are expecting annual earnings growth of 6.6%, 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 6.6% 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 6.6% 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
TBIG Tower Bersama InfrastructureRp1.55k7.3%
+Rp2.3t		-25.1%PE26.5x
KBLV First MediaRp108.0012.5%
+Rp20.9b		5.9%PE4.8x
GHON Gihon Telekomunikasi IndonesiaRp1.80k0.3%
+Rp2.8b		27.2%PE11.6x

Latest News

KBLV
Rp108.00
First Media
7D
12.5%
1Y
5.9%
TLKM
Rp2,960.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
-4.5%
1Y
22.3%

TLKM: Data Center Stake Sale And Spin Off Will Unlock Equity Value

Analysts have maintained their fair value estimate for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia at IDR 3,887.27 per share. They have made minor adjustments to assumptions around the discount rate, revenue growth, profit margin, and future P/E to reflect updated modelling inputs.
IBST
Rp4,490.00
Inti Bangun Sejahtera
7D
-18.4%
1Y
-8.9%
TOWR
Rp446.00
Sarana Menara Nusantara
7D
-2.6%
1Y
-14.2%

TOWR: Share Buyback Plan Will Support Future Upside Despite Lower Multiple

Analysts have trimmed their price target for Sarana Menara Nusantara to IDR785.91 from IDR813.33, reflecting updated assumptions around revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News The Board of Directors of PT Sarana Menara Nusantara Tbk.
LINK
Rp1,835.00
Link Net
7D
-8.3%
1Y
1.9%
GHON
Rp1,800.00
Gihon Telekomunikasi Indonesia
7D
0.3%
1Y
27.2%
TBIG
Rp1,550.00
Tower Bersama Infrastructure
7D
7.3%
1Y
-25.1%
DATA
Rp3,440.00
Remala Abadi
7D
-3.6%
1Y
215.6%
MTEL
Rp505.00
Dayamitra Telekomunikasi
7D
-1.0%
1Y
-12.9%
DNET
Rp8,700.00
Indoritel Makmur Internasional
7D
-1.4%
1Y
-3.6%
MORA
Rp4,620.00
Mora Telematika Indonesia
7D
-24.9%
1Y
1,072.6%