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Indonesian (IDX) Telecom Services and Carriers Industry Analysis

UpdatedMay 11, 2026
DataAggregated Company Financials
Companies16
  • 7D11.6%
  • 3M-0.2%
  • 1Y30.3%
  • YTD-21.2%

Over the last 7 days, the Telecom Services and Carriers industry has risen 12%, driven by gains from Mora Telematika Indonesia of 59%. During this same period, the Tower Bersama Infrastructure underperformed, falling 8.3%. This means that the industry has gained 30% over the past year. 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
Mon, 11 May 2026Rp740.6tRp192.5tRp28.4t23.4x26.1x3.8x
Wed, 08 Apr 2026Rp660.9tRp191.9tRp28.2t19.4x23.4x3.4x
Fri, 06 Mar 2026Rp731.5tRp191.3tRp27.1t19.6x27x3.8x
Sun, 01 Feb 2026Rp908.8tRp191.5tRp27.2t21.4x33.5x4.7x
Tue, 30 Dec 2025Rp923.1tRp191.5tRp27.2t24x34x4.8x
Thu, 27 Nov 2025Rp798.9tRp191.5tRp27.2t22.1x29.4x4.2x
Sat, 25 Oct 2025Rp640.6tRp191.4tRp28.9t22.8x22.2x3.3x
Mon, 22 Sep 2025Rp613.1tRp191.3tRp28.9t22.9x21.2x3.2x
Wed, 20 Aug 2025Rp617.8tRp190.9tRp28.8t21.1x21.5x3.2x
Fri, 18 Jul 2025Rp565.3tRp192.1tRp27.5t18.7x20.6x2.9x
Sun, 15 Jun 2025Rp612.6tRp193.9tRp28.7t19.3x21.3x3.2x
Tue, 13 May 2025Rp612.9tRp193.7tRp28.6t19.1x21.4x3.2x
Thu, 10 Apr 2025Rp551.9tRp194.3tRp26.8t18.5x20.6x2.8x
Sat, 08 Mar 2025Rp580.1tRp191.6tRp28.5t24.2x20.3x3x
Mon, 03 Feb 2025Rp557.0tRp190.7tRp28.0t24.1x19.9x2.9x
Wed, 01 Jan 2025Rp560.0tRp190.7tRp28.0t23.5x20x2.9x
Fri, 29 Nov 2024Rp606.0tRp192.6tRp29.1t23.5x20.8x3.1x
Sun, 27 Oct 2024Rp629.6tRp193.2tRp30.3t23x20.8x3.3x
Tue, 24 Sep 2024Rp657.0tRp193.1tRp31.4t22.7x20.9x3.4x
Thu, 22 Aug 2024Rp584.5tRp193.1tRp31.4t17.6x18.6x3x
Sat, 20 Jul 2024Rp557.8tRp190.6tRp30.9t18.8x18x2.9x
Mon, 17 Jun 2024Rp538.8tRp192.5tRp33.0t21.3x16.3x2.8x
Wed, 15 May 2024Rp575.6tRp192.5tRp33.0t23.2x17.4x3x
Fri, 12 Apr 2024Rp567.3tRp188.8tRp32.3t25.9x17.6x3x
Sun, 10 Mar 2024Rp657.9tRp191.3tRp32.8t26x20x3.4x
Tue, 06 Feb 2024Rp676.0tRp191.2tRp33.1t22.7x20.5x3.5x
Thu, 04 Jan 2024Rp685.2tRp191.2tRp33.1t21x20.7x3.6x
Sat, 02 Dec 2023Rp671.0tRp191.0tRp33.2t20.8x20.2x3.5x
Mon, 30 Oct 2023Rp618.2tRp189.7tRp29.8t25.5x20.8x3.3x
Wed, 27 Sep 2023Rp652.9tRp189.7tRp29.8t26.4x21.9x3.4x
Fri, 25 Aug 2023Rp657.4tRp189.8tRp29.9t29.7x22x3.5x
Sun, 23 Jul 2023Rp660.4tRp188.7tRp30.7t29.5x21.5x3.5x
Tue, 20 Jun 2023Rp668.2tRp188.7tRp30.7t30.4x21.8x3.5x
Thu, 18 May 2023Rp668.3tRp188.7tRp30.7t29.7x21.8x3.5x
Price to Earnings Ratio

21.8x


Total Market Cap: Rp668.3tTotal Earnings: Rp30.7tTotal Revenue: Rp188.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Indonesian Telecom Services and Carriers Industry Price to Earnings3Y Average 21.8x202420252026
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 26.1x which is higher than its 3-year average PE of 21.8x.
  • The 3-year average PS ratio of 3.4x is lower than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Telecom industry have declined 2.6% 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 industry?

ID Market-0.45%
Telecom7.91%
Telecom Services and Carriers11.63%
Integrated Telecom Services14.78%
Alternative Carriers-0.10%
Industry PE
  • Investors are most optimistic about the Alternative Carriers 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 Integrated Telecom Services industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 18.2x.
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 3.8% 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
MORA Mora Telematika IndonesiaRp9.00k85.6%
+Rp98.1t		2,042.9%PE450.2x
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi IndonesiaRp2.96k2.4%
+Rp6.9t		13.8%PE13.5x
MTEL Dayamitra TelekomunikasiRp510.002.0%
+Rp814.0b		-15.7%PE19.4x
KETR Ketrosden TriasmitraRp630.0030.7%
+Rp420.5b		215.0%PE10.7x
CENT Centratama Telekomunikasi IndonesiaRp103.003.0%
+Rp93.6b		-6.4%PS1.3x

Latest News

TLKM
Rp2,960.00
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
7D
2.4%
1Y
13.8%
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).
JAST
Rp97.00
PT. Jasnita Telekomindo
7D
-3.0%
1Y
67.2%
KETR
Rp630.00
Ketrosden Triasmitra
7D
30.7%
1Y
215.0%
MORA
Rp9,000.00
Mora Telematika Indonesia
7D
85.6%
1Y
2,042.9%
MTEL
Rp510.00
Dayamitra Telekomunikasi
7D
2.0%
1Y
-15.7%
KBLV
Rp110.00
First Media
7D
-6.8%
1Y
7.8%
DNET
Rp9,225.00
Indoritel Makmur Internasional
7D
-2.4%
1Y
-10.4%
TBIG
Rp1,580.00
Tower Bersama Infrastructure
7D
-7.3%
1Y
-23.3%
DATA
Rp1,970.00
Remala Abadi
7D
-3.0%
1Y
45.9%
GHON
Rp1,810.00
Gihon Telekomunikasi Indonesia
7D
1.1%
1Y
17.2%
TOWR
Rp472.00
Sarana Menara Nusantara
7D
-2.1%
1Y
-21.3%
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
Rp1,285.00
Bali Towerindo Sentra
7D
0.8%
1Y
8.4%
LINK
Rp1,755.00
Link Net
7D
-2.2%
1Y
3.8%
CENT
Rp103.00
Centratama Telekomunikasi Indonesia
7D
3.0%
1Y
-6.4%