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Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia

OTCPK:TLKM.F
Snowflake Description

Excellent balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
TLKM.F
OTCPK
IDR423,986B
Market Cap
  1. Home
  2. US
  3. Telecom
Company description

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides telecommunications, information, and media and edutainment services worldwide. The last earnings update was 73 days ago. More info.


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TLKM.F Share Price and Events
7 Day Returns
1.7%
OTCPK:TLKM.F
-1.5%
US Telecom
0.8%
US Market
1 Year Returns
41.4%
OTCPK:TLKM.F
6.1%
US Telecom
4.8%
US Market
TLKM.F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia (TLKM.F) 1.7% 6.5% - 41.4% -1.7% 29.1%
US Telecom -1.5% 1.4% 1.1% 6.1% -13.3% -4.2%
US Market 0.8% 4.3% 2.8% 4.8% 37.9% 43.5%
1 Year Return vs Industry and Market
  • TLKM.F outperformed the Telecom industry which returned 6.1% over the past year.
  • TLKM.F outperformed the Market in United States of America which returned 4.8% over the past year.
Price Volatility
TLKM.F
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia.

OTCPK:TLKM.F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 21 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.5%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OTCPK:TLKM.F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Telecom Unlevered Beta Simply Wall St/ S&P Global 0.35
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.352 (1 + (1- 25%) (10.26%))
0.584
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (0.8 * 5.96%)
7.5%

Discounted Cash Flow Calculation for OTCPK:TLKM.F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

OTCPK:TLKM.F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (IDR, Millions) Source Present Value
Discounted (@ 7.5%)
2020 27,070,285.71 Analyst x7 25,182,129.63
2021 33,550,000.00 Analyst x5 29,032,989.43
2022 38,533,000.00 Analyst x1 31,019,276.90
2023 42,913,000.00 Analyst x1 32,135,668.56
2024 46,497,484.90 Est @ 8.35% 32,391,237.52
2025 49,597,024.93 Est @ 6.67% 32,140,551.20
2026 52,317,534.14 Est @ 5.49% 31,538,757.25
2027 54,754,829.46 Est @ 4.66% 30,705,725.03
2028 56,988,859.93 Est @ 4.08% 29,729,425.06
2029 59,083,224.88 Est @ 3.68% 28,672,155.89
Present value of next 10 years cash flows IDR302,547,916.46
OTCPK:TLKM.F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= IDR59,083,224.88 × (1 + 2.73%) ÷ (7.5% – 2.73%)
IDR1,272,990,707.26
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= IDR1,272,990,707.26 ÷ (1 + 7.5%)10
IDR617,762,284.84
OTCPK:TLKM.F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= IDR302,547,916.46 + IDR617,762,284.84
IDR920,310,201.30
Equity Value per Share
(IDR)
= Total value / Shares Outstanding
= IDR920,310,201.30 / 99,062.22
IDR9290.22
OTCPK:TLKM.F Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in OTCPK:TLKM.F represents 7.0E-5x of IDX:TLKM
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
7.0E-5x
Value per Share
(Listing Adjusted, USD)
= Value per Share (IDR) x Listing Adjustment Factor
= IDR 9,290.22 x 7.0E-5
$0.64
Value per share (USD) From above. $0.64
Current discount Discount to share price of $0.30
= -1 x ($0.30 - $0.64) / $0.64
53.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is available for.
Intrinsic value
>50%
Share price is $0.297 vs Future cash flow value of $0.64467
Current Discount Checks
For Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OTCPK:TLKM.F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in IDR IDR186.97
IDX:TLKM Share Price ** IDX (2019-07-10) in IDR IDR4280
United States of America Telecom Industry PE Ratio Median Figure of 17 Publicly-Listed Telecom Companies 14.77x
United States of America Market PE Ratio Median Figure of 3,084 Publicly-Listed Companies 18.01x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia.

OTCPK:TLKM.F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= IDX:TLKM Share Price ÷ EPS (both in IDR)

= 4280 ÷ 186.97

22.89x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is overvalued based on earnings compared to the US Telecom industry average.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's expected growth come at a high price?
Raw Data
OTCPK:TLKM.F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 22.89x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts
11.4%per year
United States of America Telecom Industry PEG Ratio Median Figure of 8 Publicly-Listed Telecom Companies 1.65x
United States of America Market PEG Ratio Median Figure of 2,124 Publicly-Listed Companies 1.59x

*Line of best fit is calculated by linear regression .

OTCPK:TLKM.F PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 22.89x ÷ 11.4%

2x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's assets?
Raw Data
OTCPK:TLKM.F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in IDR IDR1,061.03
IDX:TLKM Share Price * IDX (2019-07-10) in IDR IDR4280
United States of America Telecom Industry PB Ratio Median Figure of 30 Publicly-Listed Telecom Companies 1.5x
United States of America Market PB Ratio Median Figure of 5,240 Publicly-Listed Companies 1.81x
OTCPK:TLKM.F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= IDX:TLKM Share Price ÷ Book Value per Share (both in IDR)

= 4280 ÷ 1,061.03

4.03x

* Primary Listing of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is overvalued based on assets compared to the US Telecom industry average.
X
Value checks
We assess Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Telecom industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Telecom industry average (and greater than 0)? (1 check)
  5. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia expected to perform in the next 1 to 3 years based on estimates from 21 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.4%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia expected to grow at an attractive rate?
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's earnings growth is positive but not above the United States of America market average.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
OTCPK:TLKM.F Future Growth Rates Data Sources
Data Point Source Value (per year)
OTCPK:TLKM.F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 21 Analysts 11.4%
OTCPK:TLKM.F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 21 Analysts 8.2%
United States of America Telecom Industry Earnings Growth Rate Market Cap Weighted Average 7.1%
United States of America Telecom Industry Revenue Growth Rate Market Cap Weighted Average 0.8%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.1%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.5%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OTCPK:TLKM.F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
All numbers in IDR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OTCPK:TLKM.F Future Estimates Data
Date (Data in IDR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 211,209,000 1
2022-12-31 193,567,000 1
2021-12-31 166,680,536 59,800,700 26,505,495 16
2020-12-31 154,294,230 54,015,231 23,541,020 21
2019-12-31 142,714,583 53,138,000 21,410,009 20
OTCPK:TLKM.F Past Financials Data
Date (Data in IDR Millions) Revenue Cash Flow Net Income *
2019-03-31 133,281,000 49,145,000 18,522,000
2018-12-31 130,784,000 45,671,000 18,032,000
2018-09-30 130,456,000 40,908,000 18,455,000
2018-06-30 128,603,000 42,936,000 18,739,000
2018-03-31 129,577,000 45,901,000 21,191,000
2017-12-31 128,256,000 49,405,000 22,145,000
2017-09-30 127,148,000 44,991,000 22,542,000
2017-06-30 123,900,000 44,802,000 21,530,000
2017-03-31 119,813,000 47,158,000 21,453,000
2016-12-31 116,333,000 47,231,000 19,352,000
2016-09-30 112,899,000 51,388,000 18,676,000
2016-06-30 110,084,000 49,718,000 17,968,000

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's earnings are expected to grow by 11.4% yearly, however this is not considered high growth (20% yearly).
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's revenue is expected to grow by 8.2% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OTCPK:TLKM.F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below

All data from Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:TLKM.F Future Estimates Data
Date (Data in IDR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 264.68 312.27 227.00 13.00
2020-12-31 237.47 279.21 139.00 19.00
2019-12-31 215.49 245.74 194.10 18.00
OTCPK:TLKM.F Past Financials Data
Date (Data in IDR Millions) EPS *
2019-03-31 186.97
2018-12-31 182.03
2018-09-30 186.30
2018-06-30 189.16
2018-03-31 213.92
2017-12-31 223.55
2017-09-30 227.55
2017-06-30 217.34
2017-03-31 217.00
2016-12-31 196.19
2016-09-30 189.76
2016-06-30 182.98

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's growth in the last year to its industry (Telecom).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's year on year earnings growth rate has been positive over the past 5 years.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's 1-year earnings growth is negative, it can't be compared to the US Telecom industry average.
Earnings and Revenue History
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OTCPK:TLKM.F Past Revenue, Cash Flow and Net Income Data
Date (Data in IDR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 133,281,000.00 18,522,000.00 10,432,000.00
2018-12-31 130,784,000.00 18,032,000.00 10,351,000.00
2018-09-30 130,456,000.00 18,455,000.00 10,910,000.00
2018-06-30 128,603,000.00 18,739,000.00 11,527,000.00
2018-03-31 129,577,000.00 21,191,000.00 10,437,000.00
2017-12-31 128,256,000.00 22,145,000.00 10,528,000.00
2017-09-30 127,148,000.00 22,542,000.00 9,725,000.00
2017-06-30 123,900,000.00 21,530,000.00 9,328,000.00
2017-03-31 119,813,000.00 21,453,000.00 9,500,000.00
2016-12-31 116,333,000.00 19,352,000.00 8,742,000.00
2016-09-30 112,899,000.00 18,676,000.00 8,157,000.00
2016-06-30 110,084,000.00 17,968,000.00 7,708,000.00
2016-03-31 106,396,000.00 16,262,000.00 7,286,000.00
2015-12-31 102,470,000.00 15,489,000.00 7,479,000.00
2015-09-30 99,614,000.00 14,748,000.00 7,794,000.00
2015-06-30 94,994,000.00 14,632,000.00 7,192,000.00
2015-03-31 92,062,000.00 14,700,000.00 7,084,000.00
2014-12-31 89,696,000.00 14,471,000.00 7,055,000.00
2014-09-30 87,309,000.00 14,416,000.00 7,429,000.00
2014-06-30 86,349,000.00 14,366,000.00 7,552,000.00
2014-03-31 84,670,000.00 14,313,000.00 7,551,000.00
2013-12-31 82,967,000.00 14,205,000.00 7,228,000.00
2013-09-30 81,778,000.00 13,906,000.00 6,141,000.00
2013-06-30 80,583,000.00 13,547,000.00 6,133,000.00
2013-03-31 78,894,000.00 13,005,000.00 6,142,000.00
2012-12-31 77,143,000.00 12,850,000.00 6,063,000.00
2012-09-30 74,896,000.00 12,581,000.00 6,239,000.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia used its assets more efficiently than the US Telecom industry average last year based on Return on Assets.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Telecom industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 1.2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Company Filings, last reported 3 months ago.

OTCPK:TLKM.F Past Debt and Equity Data
Date (Data in IDR Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 125,918,000.00 40,590,000.00 24,640,000.00
2018-12-31 117,303,000.00 40,942,000.00 18,590,000.00
2018-09-30 106,287,000.00 43,326,000.00 14,749,000.00
2018-06-30 98,317,000.00 48,933,000.00 18,104,000.00
2018-03-31 120,141,000.00 32,571,000.00 30,412,000.00
2017-12-31 112,130,000.00 31,668,000.00 26,907,000.00
2017-09-30 110,571,000.00 30,675,000.00 28,086,000.00
2017-06-30 102,024,000.00 30,810,000.00 20,241,000.00
2017-03-31 112,457,000.00 27,861,000.00 35,039,000.00
2016-12-31 105,544,000.00 27,789,000.00 31,104,000.00
2016-09-30 102,351,000.00 28,329,000.00 30,160,000.00
2016-06-30 94,844,000.00 29,439,000.00 22,051,000.00
2016-03-31 100,294,000.00 30,365,000.00 36,382,000.00
2015-12-31 93,428,000.00 30,032,000.00 28,773,000.00
2015-09-30 87,085,000.00 30,303,000.00 26,806,000.00
2015-06-30 82,265,000.00 31,861,000.00 25,135,000.00
2015-03-31 90,922,000.00 18,743,000.00 21,204,000.00
2014-12-31 85,992,000.00 18,663,000.00 18,348,000.00
2014-09-30 80,864,000.00 20,111,000.00 18,224,000.00
2014-06-30 74,994,000.00 18,934,000.00 17,238,000.00
2014-03-31 82,527,000.00 14,791,000.00 23,058,000.00
2013-12-31 77,424,000.00 15,287,000.00 21,568,000.00
2013-09-30 72,740,000.00 15,683,000.00 18,073,000.00
2013-06-30 64,749,000.00 16,559,000.00 12,247,000.00
2013-03-31 71,967,000.00 16,171,000.00 21,063,000.00
2012-12-31 66,978,000.00 16,951,000.00 17,456,000.00
2012-09-30 62,765,000.00 16,401,000.00 12,258,000.00
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's level of debt (34.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (23.9% vs 34.6% today).
  • Debt is well covered by operating cash flow (112.9%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 14.1x coverage).
X
Financial health checks
We assess Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.83%
Current annual income from Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia dividends. Estimated to be 4.05% next year.
If you bought $2,000 of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia shares you are expected to receive $77 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.41%).
  • Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's dividend is above the markets top 25% of dividend payers in United States of America (3.71%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OTCPK:TLKM.F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 21 Analyst Estimates (S&P Global) See Below
United States of America Telecom Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 5.2%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2018 Stocks 2.4%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OTCPK:TLKM.F Future Dividends Estimate Data
Date (Data in IDR) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 192.86 14.00
2020-12-31 175.93 20.00
2019-12-31 156.43 19.00
OTCPK:TLKM.F Past Annualized Dividends Data
Date (Data in IDR) Dividend per share (annual) Avg. Yield (%)
2019-05-28 163.823 4.016
2018-04-30 167.660 4.493
2017-07-28 136.750 3.259
2017-04-26 156.127 3.498
2017-03-08 156.130 3.791
2017-03-06 156.130 3.986
2016-07-28 94.637 2.340
2016-07-15 94.637 2.252
2016-04-26 94.637 2.502
2015-04-29 89.460 3.008
2015-04-22 89.460 3.180
2014-03-10 101.950 3.827
2013-04-30 73.820 3.320
2013-03-11 73.820 3.338
2011-05-24 64.518 4.161
2010-06-15 57.612 3.618
2009-08-03 59.388 3.484
2009-07-31 59.388 3.327
2009-05-11 59.388 3.817
2008-08-07 71.574 5.349

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.4x coverage).
X
Income/ dividend checks
We assess Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Ririek Adriansyah
COMPENSATION IDR12,265,300,000
AGE 56
TENURE AS CEO 0.2 years
CEO Bio

Mr. Ririek Adriansyah has been President Director of PT. Telekomunikasi Selular since January 2015. Mr. Adriansyah has been President Director at PT Telekomunikasi Indonesia Tbk since May 24, 2019. Mr. Adriansyah served as Director of Wholesale & International Services at PT Telekomunikasi Indonesia Tbk since June 30, 2013. He served as the President Director and Marketing and Sales Director of PT Telekomunikasi Indonesia International. He served as a Director of Compliance & Risk Management and Director at PT Telekomunikasi Indonesia Tbk from May 11, 2012 to June 30, 2013. He served as a Marketing & Sales Director and Director of PT Telekomunikasi Indonesia International. He served as a Director of PT Telekomunikasi Indonesia Tbk since May 2012 until December 19, 2014. Mr. Adriansyah holds a Bachelor’s degree in Electrical Engineering from Institut Teknologi Bandung (1989).

CEO Compensation
  • Ririek's compensation has increased by more than 20% in the past year whilst earnings fell less than 20%.
  • Ririek's remuneration is lower than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia management team in years:

1.4
Average Tenure
56
Average Age
  • The average tenure for the Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia management team is less than 2 years, this suggests a new team.
Management Team

Harry Zen

TITLE
Director of Finance
COMPENSATION
IDR22B
AGE
50
TENURE
3.3 yrs

Siti Choiriana

TITLE
Director Consumer Service & Director
COMPENSATION
IDR3B
AGE
49
TENURE
1.3 yrs

Zulhelfi Abidin

TITLE
COMPENSATION
IDR16B
AGE
57
TENURE
1.5 yrs

Ririek Adriansyah

TITLE
President Director
COMPENSATION
IDR12B
AGE
56
TENURE
0.2 yrs

R. Rustamadji

TITLE
Vice President of Corporate Finance
AGE
56

Andi Setiawan

TITLE
VP of Investor Relations & Corporate Secretary
TENURE
4.3 yrs

Arif Prabowo

TITLE
Vice President Corporate Communications

Danang Nugroho

TITLE
Vice President of Organization Development

Edi Witjara

TITLE
Director of Human Capital Management & Director
AGE
47
TENURE
0.2 yrs

Tjatur Purwadi

TITLE
Head of Internal Audit
AGE
62
Board of Directors Tenure

Average tenure and age of the Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia board of directors in years:

0.2
Average Tenure
51
Average Age
  • The average tenure for the Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia board of directors is less than 3 years, this suggests a new board.
Board of Directors

Harry Zen

TITLE
Director of Finance
COMPENSATION
IDR22B
AGE
50
TENURE
3.3 yrs

Siti Choiriana

TITLE
Director Consumer Service & Director
COMPENSATION
IDR3B
AGE
49
TENURE
1.5 yrs

Zulhelfi Abidin

TITLE
COMPENSATION
IDR16B
AGE
57
TENURE
2.3 yrs

Ririek Adriansyah

TITLE
President Director
COMPENSATION
IDR12B
AGE
56
TENURE
0.2 yrs

Edi Witjara

TITLE
Director of Human Capital Management & Director
AGE
47
TENURE
0.2 yrs

Achmad Sugiarto

TITLE
Director of Strategic Portfolio & Director
AGE
54
TENURE
0.2 yrs

Edwin Aristiawan

TITLE
Director of Wholesale & International Service and Director
AGE
50
TENURE
0.2 yrs

Faizal Djoemadi

TITLE
Director of Digital Business & Director
AGE
52
TENURE
0.2 yrs

Bogi Witjaksono

TITLE
Director of Enterprise & Business Service and Director
AGE
52
TENURE
0.2 yrs

Margiyono Darsasumarja

TITLE
Independent Commissioner
COMPENSATION
IDR15B
AGE
43
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
X
Management checks
We assess Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides telecommunications, information, and media and edutainment services worldwide. It operates in four segments: Mobile, Consumer, Enterprise, and Wholesale and International. The company offers mobile services, including mobile voice, SMS, value-added, and mobile broadband services. It also provides fixed voice and broadband services; and wholesale telecommunications services, including network, data and Internet, interconnection, and value-added services, as well as voice hubbing, data center, platform, and solutions; and engages in the satellite and tower operations, and infrastructure and network management activities. In addition, the company offers information and communications technology platform services, such as enterprise connectivity IT, data center and cloud, business process outsourcing, and devices and hardware sales and services. Further, it provides smart enabler platform services, including financial, digital advertising, and big data and data analytics services, as well as Internet of Things services. Additionally, the company offers mobile-based digital services, such as TV and video-on-demand IPTV services; e-Commerce services that include blanja.com, an online marketplace for consumer-to-consumer and business-to-consumer sales; digital content and lifestyle services; and big data and smart platform services. It also provides property development, lease, facilities, and management services; and multimedia portal, broadcasting, satellite, system integrator, digital content exchange hub, payment, health insurance administration, directory information, data and information, and trading services. As of December 31, 2018, the company had approximately 163.0 million mobile cellular subscribers; 11.1 million fixed wireline network subscribers; and 113.8 million broadband subscribers. The company was founded in 1884 and is headquartered in Bandung, Indonesia.

Details
Name: Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
TLKM.F
Exchange: OTCPK
Founded: 1884
IDR30,436,919,386
99,062,216,600
Website: http://www.telkom.co.id
Address: Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
Jalan Japati No. 1,
Bandung,
Jawa Barat, 40133,
Indonesia
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
IDX TLKM Series B Shares Indonesia Stock Exchange ID IDR 09. Oct 1997
OTCPK TLKM.F Series B Shares Pink Sheets LLC US USD 09. Oct 1997
DB TCID Series B Shares Deutsche Boerse AG DE EUR 09. Oct 1997
NYSE TLK ADR EA REP 100 SER'B'IDR250 New York Stock Exchange US USD 14. Nov 1995
DB PTI ADR EA REP 100 SER'B'IDR250 Deutsche Boerse AG DE EUR 14. Nov 1995
BMV TLK N ADR EA REP 100 SER'B'IDR250 Bolsa Mexicana de Valores MX MXN 14. Nov 1995
Number of employees
Current staff
Staff numbers
24,329
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia employees.
Industry
Integrated Telecommunication Services
Telecom
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/07/15 23:56
End of day share price update: 2019/07/10 00:00
Last estimates confirmation: 2019/07/15
Last earnings filing: 2019/05/03
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.