Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

IDX:TLKM Stock Report

Market Cap: Rp343.7t

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Valuation

Is TLKM undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of TLKM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: TLKM (IDR3470) is trading below our estimate of fair value (IDR4661.76)

Significantly Below Fair Value: TLKM is trading below fair value by more than 20%.


Key Valuation Metric

Which metric is best to use when looking at relative valuation for TLKM?

Other financial metrics that can be useful for relative valuation.

TLKM key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue2.7x
Enterprise Value/EBITDA5.7x
PEG Ratio2x

Price to Earnings Ratio vs Peers

How does TLKM's PE Ratio compare to its peers?

The above table shows the PE ratio for TLKM vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.2x
MTEL Dayamitra Telekomunikasi
25.3x11.6%Rp50.8t
SUPR Solusi Tunas Pratama
47xn/aRp45.4t
TBIG Tower Bersama Infrastructure
27.8x9.2%Rp42.6t
TOWR Sarana Menara Nusantara
12.9x7.6%Rp42.8t
TLKM Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia
14x6.9%Rp343.7t

Price-To-Earnings vs Peers: TLKM is good value based on its Price-To-Earnings Ratio (14x) compared to the peer average (28.2x).


Price to Earnings Ratio vs Industry

How does TLKM's PE Ratio compare vs other companies in the Asian Telecom Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.1%
n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a9.1%
n/an/an/a
No more companies

Price-To-Earnings vs Industry: TLKM is good value based on its Price-To-Earnings Ratio (14x) compared to the Asian Telecom industry average (16.1x).


Price to Earnings Ratio vs Fair Ratio

What is TLKM's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

TLKM PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14x
Fair PE Ratio20.4x

Price-To-Earnings vs Fair Ratio: TLKM is good value based on its Price-To-Earnings Ratio (14x) compared to the estimated Fair Price-To-Earnings Ratio (20.4x).


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst TLKM forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentRp3,470.00
Rp4,457.69
+28.5%
7.3%Rp5,200.00Rp3,800.00n/a26
Mar ’25Rp3,920.00
Rp4,601.60
+17.4%
6.3%Rp5,200.00Rp4,015.00n/a25
Feb ’25Rp4,040.00
Rp4,613.60
+14.2%
6.3%Rp5,200.00Rp4,015.00n/a25
Jan ’25Rp3,950.00
Rp4,666.35
+18.1%
9.0%Rp6,000.00Rp3,900.00n/a26
Dec ’24Rp3,830.00
Rp4,666.35
+21.8%
9.0%Rp6,000.00Rp3,900.00n/a26
Nov ’24Rp3,620.00
Rp4,694.79
+29.7%
8.9%Rp6,000.00Rp3,900.00n/a24
Oct ’24Rp3,750.00
Rp4,743.75
+26.5%
9.5%Rp6,000.00Rp4,000.00n/a24
Sep ’24Rp3,720.00
Rp4,809.00
+29.3%
9.0%Rp6,000.00Rp4,200.00n/a25
Aug ’24Rp3,750.00
Rp4,873.96
+30.0%
8.9%Rp6,000.00Rp4,100.00n/a24
Jul ’24Rp4,000.00
Rp4,924.04
+23.1%
7.9%Rp6,000.00Rp4,100.00n/a26
Jun ’24Rp4,040.00
Rp4,957.88
+22.7%
7.8%Rp6,000.00Rp4,100.00n/a26
May ’24Rp4,250.00
Rp4,988.20
+17.4%
7.6%Rp6,000.00Rp4,100.00n/a25
Apr ’24Rp4,060.00
Rp4,979.04
+22.6%
7.8%Rp6,000.00Rp4,100.00n/a26
Mar ’24Rp3,930.00
Rp5,021.85
+27.8%
7.4%Rp6,000.00Rp4,100.00Rp3,920.0027
Feb ’24Rp3,870.00
Rp5,021.85
+29.8%
7.4%Rp6,000.00Rp4,100.00Rp4,040.0027
Jan ’24Rp3,750.00
Rp5,065.00
+35.1%
6.5%Rp6,000.00Rp4,200.00Rp3,950.0026
Dec ’23Rp3,960.00
Rp5,079.60
+28.3%
6.7%Rp6,000.00Rp4,200.00Rp3,830.0025
Nov ’23Rp4,420.00
Rp5,148.46
+16.5%
10.7%Rp7,450.00Rp4,500.00Rp3,620.0026
Oct ’23Rp4,460.00
Rp5,157.41
+15.6%
10.4%Rp7,450.00Rp4,500.00Rp3,750.0027
Sep ’23Rp4,580.00
Rp5,155.00
+12.6%
10.5%Rp7,450.00Rp4,500.00Rp3,720.0027
Aug ’23Rp4,300.00
Rp5,050.96
+17.5%
11.1%Rp7,450.00Rp4,500.00Rp3,750.0026
Jul ’23Rp4,020.00
Rp5,047.12
+25.6%
11.2%Rp7,450.00Rp4,400.00Rp4,000.0026
Jun ’23Rp4,310.00
Rp5,037.50
+16.9%
11.3%Rp7,450.00Rp4,400.00Rp4,040.0026
May ’23Rp4,620.00
Rp4,995.19
+8.1%
12.3%Rp7,450.00Rp4,000.00Rp4,250.0026
Apr ’23Rp4,580.00
Rp4,828.85
+5.4%
13.7%Rp7,450.00Rp3,900.00Rp4,060.0026
Mar ’23Rp4,350.00
Rp4,763.46
+9.5%
13.9%Rp7,450.00Rp3,900.00Rp3,930.0026

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.


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