Want to see TLK full AI Analyst Report?
Top Page
PT Telekomunikasi Indonesia Tbk
(NYSE:TLK)
Select Model
Select Model
Rating:71Outperform
Price Target:
$17.00
▲(17.89% Upside)
Action:Upgraded
Date:08/04/26
The score is driven primarily by solid fundamentals (strong free cash flow and manageable leverage) tempered by margin/return compression. Valuation is supportive with a high dividend yield and reasonable P/E, while technicals are only moderately positive due to a weaker longer-term trend (below 100/200-day averages).
Positive Factors
Free Cash Flow Strength
Sizable and accelerating free cash flow provides durable funding for network capex, fiber expansion and cloud investments while supporting shareholder returns and buybacks funded internally. Strong FCF reduces refinancing risk and underpins multi-year investment programs in infrastructure.
Negative Factors
Margin Compression
Sustained margin and ROE compression indicates structural cost pressures or adverse revenue mix that reduces internal funding for growth. Lower profitability narrows cushion for reinvestment and shareholder distributions and may force prioritization between capex and dividend policy over multiple quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Free Cash Flow Strength
Sizable and accelerating free cash flow provides durable funding for network capex, fiber expansion and cloud investments while supporting shareholder returns and buybacks funded internally. Strong FCF reduces refinancing risk and underpins multi-year investment programs in infrastructure.
Read all positive factors
PT Telekomunikasi Indonesia Tbk (TLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$14.49B
Dividend Yield8.38%
Average Volume (3M)981.87K
Price to Earnings (P/E)15.2
Beta (1Y)0.68
Revenue Growth-3.37%
EPS Growth-27.49%
CountryUS
Employees19,082
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)22001.00
Shares Outstanding990,622,200
10 Day Avg. Volume804,851
30 Day Avg. Volume981,869
Financial Highlights & Ratios
PEG Ratio-0.82
Price to Book (P/B)2.66
Price to Sales (P/S)2.38
P/FCF Ratio9.15
Enterprise Value/Market Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.12
Revenue Forecast (FY)$8.38B
PT Telekomunikasi Indonesia Tbk Business Overview & Revenue Model
Company Description
PT Telekomunikasi Indonesia Tbk (TLK) operates as a global provider of comprehensive telecommunications, information technology, and network services. Its Mobile division delivers core mobile services such as voice calls, text messaging (SMS), and...
How the Company Makes Money
Telkom Indonesia generates revenue primarily by selling telecommunications connectivity and related digital services on recurring and usage-based tariffs across consumer and enterprise segments.
Key revenue streams include:
1) Mobile services: Re...
PT Telekomunikasi Indonesia Tbk Earnings Call Summary
Earnings Call Date:Oct 31, 2024
(Q3-2024)
| % Change Since: |
Next Earnings Date:Oct 29, 2026
Earnings Call Sentiment Neutral
The earnings call reveals a mix of positive and negative aspects. While there are notable achievements such as positive revenue growth and strong performance in fixed broadband and Mitratel, challenges such as EBITDA decline, operating net income drop, and Telkomsel revenue decline indicate pressure points. The sentiment reflects cautious optimism amidst macroeconomic challenges and competitive pressures.Positive Updates
Positive Revenue Growth
Telkom Group delivered a revenue growth of 0.9% year-on-year to RP 112.2 trillion for the past 9 months of 2024.
Negative Updates
EBITDA Decline
EBITDA decreased by 4.1% year-on-year to RP 56.6 trillion, impacted by personnel expenses due to an early retirement program.
Read all updates
Q3-2024 Updates
Positive
Negative
Positive Revenue Growth
Telkom Group delivered a revenue growth of 0.9% year-on-year to RP 112.2 trillion for the past 9 months of 2024.
Read all positive updates
Company Guidance
During the earnings call for PT Telekom Indonesia, the company provided guidance for the fiscal year 2024, highlighting several key metrics and strategies. The company aims to achieve a low single-digit revenue growth, maintaining an EBITDA margin between 50% to 52%, and a CapEx-to-revenue ratio of 22% to 24%. For the first nine months of 2024, revenue grew by 0.9% year-on-year to IDR 112.2 trillion, while EBITDA decreased by 4.1% to IDR 56.6 trillion. The decline in EBITDA was primarily due to personnel expenses, which increased by 12.7% year-on-year, but normalized EBITDA stood at IDR 57.8 trillion, a 2.1% decline. Additionally, the company reported a net debt-to-EBITDA ratio of 0.6x, and Telkomsel's B2C business posted a 16.4% year-on-year revenue growth. The company is focusing on its 5 Bold Move strategy, including efforts to enhance digital connectivity and explore strategic partnerships for data center business, aiming to conclude these initiatives by early 2025.PT Telekomunikasi Indonesia Tbk Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
71
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Gross Profit | 10.00T> | 98.49T | 10.00T> | 10.00T> | 10.00T> | 99.90T |
| EBITDA | 91.69T | 73.37T | 76.97T | 78.12T | 73.64T | 79.85T |
| Net Income | 21.48T | 17.49T | 23.61T | 24.43T | 20.74T | 24.88T |
Balance Sheet | ||||||
| Total Assets | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Cash, Cash Equivalents and Short-Term Investments | 56.48T | 35.73T | 35.03T | 30.43T | 32.88T | 38.74T |
| Total Debt | 80.89T | 75.09T | 76.83T | 68.00T | 63.04T | 69.08T |
| Total Liabilities | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Stockholders Equity | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
Cash Flow | ||||||
| Free Cash Flow | 41.42T | 38.07T | 31.94T | 26.98T | 38.34T | 38.43T |
| Operating Cash Flow | 66.13T | 63.84T | 61.60T | 60.58T | 73.35T | 68.35T |
| Investing Cash Flow | -25.47T | -26.09T | -29.46T | -36.91T | -39.12T | -37.91T |
| Financing Cash Flow | -20.18T | -37.74T | -27.50T | -26.57T | -40.97T | -12.78T |
PT Telekomunikasi Indonesia Tbk Technical Analysis
Positive
14.42
Price Trends
14.53
Positive
15.61
Negative
17.64
Negative
Market Momentum
0.13
Negative
56.98
Neutral
66.20
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TLK, the sentiment is Positive. The current price of 14.42 is below the 20-day moving average (MA) of 14.56, below the 50-day MA of 14.53, and below the 200-day MA of 17.64, indicating a neutral trend. The MACD of 0.13 indicates Negative momentum. The RSI at 56.98 is Neutral, neither overbought nor oversold. The STOCH value of 66.20 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TLK.
PT Telekomunikasi Indonesia Tbk Risk Analysis
PT Telekomunikasi Indonesia Tbk disclosed 59 risk factors in its most recent earnings report. PT Telekomunikasi Indonesia Tbk reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Indonesian regulations require telecommunications service providers such as ourselves to share our network infrastructure and capacity with our competitors, and the enforcement of these regulations remain uncertain. Q4, 2023
PT Telekomunikasi Indonesia Tbk Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | $20.67B | 15.84 | 9.70% | 5.69% | 16.10% | 24.13% | |
71 Outperform | $14.49B | 15.18 | 11.99% | 8.52% | -3.37% | -27.49% | |
70 Outperform | $9.16B | 10.79 | 17.54% | 6.52% | 13.99% | 29.93% | |
62 Neutral | $12.03B | 54.50 | 3.00% | 1.78% | -7.08% | -73.85% | |
62 Neutral | $36.57B | -69.93 | -0.79% | 3.59% | 16.69% | 87.12% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
TLK
PT Telekomunikasi Indonesia Tbk
14.98
-2.06
-12.08%
SKM
Sk Telecom
35.67
13.27
59.24%
VIV
Telefonica Brasil
12.08
0.61
5.29%
TIMB
TIM
18.52
-0.69
-3.59%
VOD
Vodafone
16.00
5.16
47.63%
PT Telekomunikasi Indonesia Tbk Corporate Events
Telkom Indonesia Reports Higher Mid‑Year Assets in July 31, 2026 Form 6‑K Filing
Jul 31, 2026
On July 31, 2026, Telkom Indonesia filed a Form 6-K in the United States, presenting its unaudited consolidated financial statements as of June 30, 2026 and for the six‑month period then ended. The filing confirms that Telkom’s total a...
Telkom Indonesia Confirms Edie Kurniawan as Corporate Secretary Effective July 1, 2026
Jul 1, 2026
PT Telekomunikasi Indonesia Tbk notified regulators that it has formalized the appointment of Edie Kurniawan as its Corporate Secretary, effective July 1, 2026, upgrading his prior role as acting Corporate Secretary. The move, disclosed in a filin...
Telkom Indonesia Appoints Acting Corporate Secretary as Governance Change Takes Effect
Jun 25, 2026
Telkom Indonesia has notified regulators of a change in its corporate governance structure, replacing its former corporate secretary, Jati Widagdo, with newly appointed acting corporate secretary, Edie Kurniawan. The move, effective June 23, 2026,...
PT Telekomunikasi Indonesia Clarifies Accounting Policy Changes and Control Conclusions in 2025 Audit
Jun 24, 2026
On June 24, 2026, PT Telekomunikasi Indonesia Tbk informed the Indonesia Stock Exchange that it had responded to a June 19 exchange request for clarification regarding its audited financial statements for the year ended December 31, 2025. Manageme...
PT Telekomunikasi Indonesia Tbk Revamps Audit Committee and Files June Form 6-K
Jun 18, 2026
On June 18, 2026, PT Telekomunikasi Indonesia Tbk reported to the U.S. Securities and Exchange Commission that it had filed a Form 6-K as a foreign private issuer, reaffirming its compliance as a state-owned Indonesian telecom operator listed in i...
Telkom Indonesia Shareholders Approve 2025 Accounts and Board Discharge at June AGM
Jun 10, 2026
On June 8, 2026, PT Telekomunikasi Indonesia Tbk held its Annual General Meeting of Shareholders for financial year 2025 online via the KSEI electronic system, with 83.4% of voting shares represented, satisfying all quorum requirements under the c...
PT Telekomunikasi Indonesia Tbk Reshapes Board at 2025 AGM, Keeps Core Management Intact
Jun 8, 2026
On June 8, 2026, PT Telekomunikasi Indonesia Tbk disclosed to regulators and investors that shareholders had approved changes to the company’s governance at the annual general meeting for the 2025 fiscal year. The resolution confirmed the te...
Telkom Indonesia Updates Plan for Rp4 Trillion Share Buyback Window Through 2027
Jun 4, 2026
PT Telekomunikasi Indonesia Tbk has updated its May 1, 2026 disclosure to detail a planned share buyback of up to Rp4 trillion, in line with Indonesia’s OJK Regulation No. 29/2023 on buybacks by public companies. The program, subject to shar...
Telkom Indonesia Says Commissioner’s Graft Suspect Status Won’t Hit Operations
Jun 4, 2026
On June 4, 2026, PT Telekomunikasi Indonesia Tbk disclosed that media reports had highlighted the designation of Indonesia’s Deputy Minister of Immigration and Corrections—who also sits as a Telkom commissioner—as a suspect by th...
Telkom Indonesia Sells Entire AdMedika Stake to Singapore Buyer as Part of Portfolio Streamline
Jun 3, 2026
On June 2, 2026, PT Telkom Indonesia’s subsidiary PT Multimedia Nusantara (TelkomMetra), together with PT Metra Digital Investama Ventura, divested their entire 100% equity stake in healthcare administrator PT Administrasi Medika (AdMedika G...
Telkom Indonesia Files Q1 2026 Unaudited Results and Affirms Financial Reporting Controls
May 29, 2026
Telkom Indonesia has filed its Form 6‑K with the U.S. Securities and Exchange Commission for May 2026, submitting unaudited consolidated financial statements as of March 31, 2026 and for the three‑month period then ended. The report co...
PT Telekomunikasi Indonesia Tbk Sets June 8, 2026 Online AGM With Share Buyback on Agenda
May 19, 2026
PT Telekomunikasi Indonesia Tbk has called its Annual General Meeting of Shareholders for the 2025 financial year, to be held online via the eASY.KSEI platform on June 8, 2026, in line with Indonesian Financial Services Authority rules on electron...
PT Telkom Indonesia Files 2025 Form 20‑F and Audited Results With U.S. SEC
May 15, 2026
PT Telkom Indonesia (Persero) Tbk, Indonesia’s largest ICT and telecoms network operator, spans consumer, B2B infrastructure, B2B ICT, international and other segments, and is dual-listed on the IDX and NYSE under the tickers TLKM and TLK. T...
PT Telekomunikasi Indonesia Tbk Releases 2025 Sustainability Report and Refines ESG Metrics
May 12, 2026
Telkom reaffirmed its sustainability commitments with the publication of its annual Sustainability Report on May 12, 2026, covering environmental, social, and governance strategies, targets, and performance for the period from January 1 to Decembe...
Telkom Indonesia Files 2025 Audited Financial Statements on Form 6‑K
May 12, 2026
Telkom Indonesia has filed a Form 6‑K with the U.S. Securities and Exchange Commission in May 2026, furnishing its consolidated financial statements as of December 31, 2025 and for the year then ended. The filing underscores the group’...
Telkom Indonesia Details U.S. Probes and Governance Overhaul in May 5 Disclosure
May 6, 2026
PT Telekomunikasi Indonesia Tbk has detailed to the Indonesia Stock Exchange how it is reinforcing governance and compliance, including creating a Legal Compliance Directorate and appointing a Chief Integrity Officer to oversee legal risk, policy...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.