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Telkom Indonesia (TLKM) IDR

Telkom Indonesia provides telecommunications and information technology services, including mobile and fixed-line voice, data, internet, and digital content for consumers, businesses, and other operators.

Sector: Telecom

ID_TLKM

Price chart

1 785 IDRDay -6.05%

Key metrics

Net debt (table and EV/EBITDA): |short-term borrowings| + |long-term borrowings| + |other financial liabilities| when extracted + |non-controlling interest| when extracted − |cash and equivalents|; amounts in millions of the reporting currency.

Market

Price
1 785 IDR · -6.05%
Market cap
175966.9 bn IDR

Growth

Δ revenue y/y
3.9%
Δ EBITDA y/y
3.4%

Multiples

P/E (LTM)
10.8x
P/B (FY)
1.3x
EV/EBITDA (LTM)
2.5x

Cash return

Dividend yield
12.6%
FCF yield (LTM)
0.0%

Value creation

fundamental value/yr, % of market cap
Value created / year
+32.0%
↓ details

Liquidity

Daily turnover (listing)
1025.6 bln IDR

Shares: connector/market_inputs

Amounts: USD (converted) · As reported
Converted modes use NBK / ECB-linked rates: balance sheet date for BS items, period average for P&L and cash flow (see filing row evidence). As reported keeps each row in its filing currency.

Financial results

Monetary columns are in B IDR, one decimal; scale (K/M/B/T) keeps values readable. For the period (default) shows P&L and cash flow for that row’s reporting window: quarterly amounts when the feed uses quarter-duration facts (typical US 10-Q revenue and income), quarterly cash flows after stripping YTD where only cumulative tags exist, and an implied Q4 on 31 Dec FY rows (P&L: FY minus Q1–Q3; operating / investing cash flow: FY 12m minus 9M YTD to 30 Sep when sourced from SEC builder evidence) so they match 10-Q scale. Some issuers still use cumulative YTD minus the prior row in the same calendar year. As reported shows values stored on each row (e.g. full-year on FY). Balance sheet is always as reported. Source JSON may use millions etc.; conversion uses amounts_unit per row.

DatePeriodStatusRevenueB IDROperating profitB IDRD&AB IDREBITDAB IDRNet profitB IDROperating CFB IDRCapex + M&AB IDRAssetsB IDREquityB IDRROE (annualized)Net debtB IDRSource
2026-06-30Q2 2026 (3M)OK38.7
y/y 3.9%
11.2
y/y 1.2%
8.5
y/y 6.2%
19.7
y/y 3.4%
6.3
y/y -3.2%
17.6-5.7303.1
y/y 3.2%
118.3
y/y -10.4%
16.8%26.3Report (PDF)
2026-03-31Q1 2026 (3M)OK37.2
y/y 1.5%
8.9
y/y -14.9%
8.7
y/y 8.0%
17.6
y/y -4.9%
4.3
y/y -25.2%
17.3-5.1290.0
y/y -3.2%
134.5
y/y -9.2%
13.1%31.2Report (PDF)
2025-12-31Q4 2025 (3M)OK73.7
y/y 95.3%
14.7
y/y 39.9%
21.5
y/y 155.6%
36.2
y/y 91.2%
6.8
y/y 14.5%
14.2-7.5287.8
y/y -4.0%
130.7
y/y -8.0%
23.2%40.7Report (PDF)
2025-09-30Q3 2025 (3M)OK-66.1
y/y —
-16.8
y/y —
-7.3
y/y —
-24.2
y/y —
-9.4
y/y —
-49.6—291.9
y/y —
22.9
y/y —
2.6%46.1Report (PDF)
2025-06-30Q2 2025 (3M)OK36.4
y/y -3.0%
9.4
y/y -8.0%
8.1
y/y 0.4%
17.6
y/y -4.4%
5.2
y/y -28.8%
32.8-12.1293.8
y/y 2.7%
132.1
y/y 1.5%
15.7%51.6Report (PDF)
2025-03-31Q1 2025 (3M)OK36.6
y/y —
10.5
y/y —
8.1
y/y —
18.5
y/y —
5.8
y/y —
16.8-6.5299.5
y/y —
148.1
y/y —
16.0%34.7Report (PDF)
2024-12-31Q4 2024 (3M)PARTIAL37.7
y/y —
10.5
y/y —
8.4
y/y —
18.9
y/y —
6.0
y/y —
——299.7
y/y —
142.1
y/y —
17.0%43.0Report (PDF)
2024-09-30Q3 2024 (3M)PARTIAL36.9
y/y —
10.8
y/y —
8.1
y/y —
18.9
y/y —
2.3
y/y —
——285.1
y/y —
135.7
y/y —
17.7%48.6Report (PDF)
2024-06-30Q2 2024 (3M)PARTIAL75.3
y/y —
21.6
y/y —
16.1
y/y —
37.8
y/y —
15.4
y/y —
——286.0
y/y —
130.2
y/y —
—53.7Report (PDF)

Net debt structure (leases included, IFRS 16) 2026-06-30

Short-term debt (incl. ST leases)34 948
Long-term debt (incl. LT leases)45 937
− Cash & equivalents54 579
Net debt26 306

Net debt / LTM EBITDA: 0.5x

Revenue & EBITDA

RevenueEBITDA

Quarterly values ($ mln)

020 00040 00060 00080 0002024 H12024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Year-over-year change

-5%0%5%10%2024 H12024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Cash flow

FCF ($ mln)

05 00010 00015 00020 0002024 H12024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Net debt / cash ($ mln)

020 00040 00060 0002024 q22024 q32024 q42025 q12025 q22025 q32025 q42026 q12026 q2

Profit and cash

Profit is cash-backed
In a typical year of 2024–2025 operating cash flow came to 3.10x of reported net profit; after capex, 1.50x.
year20242025
cash flow / profit2.60x3.58x
accruals, % of assets-12.7%-16.0%
Last twelve months (to 2025-Q2): 3.94x of profit came back as operating cash flow.
net debt / EBITDA 0.6x
Read from the reported annual statements: cash flow / profit is the median of the yearly operating cash flow over net profit for the years shown; accruals are (profit − operating cash flow) / assets, the classic gap between what was booked and what was collected. A gap can be growth in working capital, capitalised costs, revaluations or profit from associates — the panel points at it, the statements explain it. Not investment advice.

Research & reviews

Our earnings breakdowns and investment notes on this issuer.

All research →

Indonesia — currency context

USD/IDR17943
1-week+0.8%
1-month+1.3%
room to 52w-weakest1.4%
DXY (dollar index)101.7
US 10Y5.08%

A weaker rupiah lowers the USD value of Indonesian equities for a foreign holder; for banks, BI's high policy rate (defending the currency) pressures margins.

as of 2026-10-16 (Yahoo)

Fundamental value creation

Value the company creates per year, as a % of market cap

Value created per year: +32.0%

How this was calculated
1. EBITDA growth (latest quarter YoY, annualised)
[EBITDA latest qtr − EBITDA year-ago qtr] × annualisation X
= —
1 237
2. Current EV/EBITDA (LTM)
(Market cap + Net debt) ÷ EBITDA (LTM)
= (175 967 + 26 306) ÷ 73 534
2.8x
3. Target multiple
(Current EV/EBITDA + 9) ÷ 2
= (2.8 + 9) ÷ 2
5.9x
4. Cash flow (balance method, LTM)
Net-debt reduction + dividends + buybacks − equity issuance
= 25 308 + 0 + 0 − 0
49 107
5. Value created per year
(EBITDA growth × Target multiple + Cash flow − Dilution) ÷ Market cap
= (1 237 × 5.9 + 49 107) ÷ 175 967
+32.0%

Amounts in millions of the reporting currency. EBITDA growth is the latest quarter vs the same quarter a year ago, annualised.

Caveats:

  • LTM EBITDA = FY2025 + H12026 - H12025 (cumulative-YTD reporter); ΔEBITDA vs prior full year

Peer comparison

Group: Telecom. Each peer is shown as it trades and re-priced onto this company's market (Indonesia) by the ratio of our coverage medians.

CompanyMarketCap, $bnEV/EBITDAEV/EBITDA, adjusted
KT CorporationKorea9.03.5x2.1x
America Movil (AMX)Mexico69.44.6x2.8x
e& (Etisalat Group)UAE49.46.4x2.9x
Telefonica Brasil (Vivo)Brazil20.24.5x3.0x
MTN GroupSouth Africa21.13.5x3.2x
MTSRussia4.63.5x4.0x
PLDTPhilippines4.35.6x4.5x
Globe TelecomPhilippines3.65.7x4.6x
du (EITC)UAE15.010.5x4.8x
Vodacom GroupSouth Africa18.45.4x4.8x
Kcell JSCKazakhstan2.813.7x9.8x
TIM S.A.Brazil44.616.9x11.3x
Group median5.5x4.2x
Group average7.0x4.8x
This companyIndonesia10.42.5x2.5x

Group median 5.5x as traded, 4.2x adjusted; this company 2.5x — a 42% discount.

Group average 7.0x as traded, 4.8x adjusted; against the average this company is at a 49% discount.

At the adjusted group median the market cap would be +72% versus today.

The gap and the implied upside are measured against the median: one richly priced peer moves an average, not a median. The market adjustment uses our coverage medians (US 21.3x, Russia 4.0x, South Africa 5.1x, Kazakhstan 6.4x, India 18.7x, Indonesia 4.6x); it is about where a name is listed, not what it does. Peer multiples come from the nightly rebuild of 2026-10-18; the company's own is live.

Dividends

Paid (completed)

DatePer shareDetailsStatusSource
2026-06-18223.1659 IDREx-dividend: 223.1659 IDR per sharePaidYahoo Finance (ex-div)
2025-06-11212.4665 IDREx-dividend: 212.4665 IDR per sharePaidYahoo Finance (ex-div)
2024-05-16178.5042 IDREx-dividend: 178.5042 IDR per sharePaidYahoo Finance (ex-div)
2023-06-12167.5987 IDREx-dividend: 167.5987 IDR per sharePaidYahoo Finance (ex-div)
2022-06-08149.9656 IDREx-dividend: 149.9656 IDR per sharePaidYahoo Finance (ex-div)

KASE: status follows wording in the news headline (paid vs intends to pay). Yahoo: amounts are cash dividends per share on ex-dividend dates (UTC calendar date). stockscope.uz (UZ): amounts are per share in UZS by publication date (not necessarily ex-div).

Investor reporting (IR): https://www.telkom.co.id/sites/about-telkom/en_US/page/investor-relations-58

Reporting forms detected in loaded periods: ✓ ✓ ✓ (Balance sheet / Profit or loss (P&L) / Cash flows)

Financial results, valuation multiples (P/E, P/B, EV/EBITDA), profitability and dividend yield of Telkom Indonesia (TLKM) — from primary filings.

Frequently asked questions

What is Telkom Indonesia (TLKM)'s P/E ratio?
Telkom Indonesia (TLKM) trades at a P/E of 10.8x (price to trailing 12-month earnings).
What is Telkom Indonesia (TLKM)'s EV/EBITDA?
Telkom Indonesia (TLKM) trades at 2.5x EV/EBITDA.
What is Telkom Indonesia (TLKM)'s P/B ratio?
Telkom Indonesia (TLKM) trades at a P/B of 1.3x.
What is Telkom Indonesia (TLKM)'s dividend yield?
Telkom Indonesia (TLKM)'s trailing 12-month dividend yield is 12.6%.
What is Telkom Indonesia (TLKM)'s return on equity (ROE)?
Telkom Indonesia (TLKM)'s ROE is 16.8%.
What is Telkom Indonesia (TLKM)'s market capitalization?
Telkom Indonesia (TLKM)'s market cap is 175966.9 bn IDR.

See also: Indonesian Stocks (2026): The Cheapest Big Emerging Market · The Cheapest Stocks in the World (2026): What Value Investing Says About Buying Cheap · global valuation map