P.t. Telekomunikasi Indonesia Tbk. (TLK)
NYSE:TLK
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PT Telekomunikasi Indonesia Tbk
(NYSE:TLK)
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Rating:64Neutral
Price Target:
$18.00
▼(-19.50% Downside)
Action:Downgraded
Date:05/14/26
Overall score is supported by strong and improving free cash flow and generally manageable leverage, which underpin the high dividend yield. The main offset is weak technical momentum (below major moving averages with negative MACD and low RSI), along with some recent profitability softness and margin volatility.
Positive Factors
Strong cash generation
Telkom's durable operating cash flow and improving free cash flow (noted strong improvement in 2024–2025 and FCF covering ~0.45–0.64 of earnings) underpins dividends, capex and debt service. This persistent cash generation supports strategic investments and balance-sheet resilience over months.
Negative Factors
Ongoing SEC/DOJ probes and governance overhaul
Parallel U.S. regulatory probes and related governance remediation create multi‑period legal, compliance and management distraction risks. Potential fines, negotiated settlements or operational constraints could meaningfully affect capital allocation, partnerships and investor confidence over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Telkom's durable operating cash flow and improving free cash flow (noted strong improvement in 2024–2025 and FCF covering ~0.45–0.64 of earnings) underpins dividends, capex and debt service. This persistent cash generation supports strategic investments and balance-sheet resilience over months.
Read all positive factors
PT Telekomunikasi Indonesia Tbk (TLK) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.56B
Dividend Yield6.14%
Average Volume (3M)842.52K
Price to Earnings (P/E)324222.5
Beta (1Y)0.65
Revenue Growth-6.44%
EPS Growth-27.87%
CountryUS
Employees19,712
SectorCommunication Services
Sector Strength97
IndustryTelecommunications Services
Share Statistics
EPS (TTM)17940.00
Shares Outstanding990,622,200
10 Day Avg. Volume634,721
30 Day Avg. Volume842,521
Financial Highlights & Ratios
PEG Ratio-13.69K
Price to Book (P/B)2.66
Price to Sales (P/S)39359.56
P/FCF Ratio8.43
Enterprise Value/Market Cap20.86K
Enterprise Value/Revenue3.15
Enterprise Value/Gross Profit4.69
Enterprise Value/Ebitda6.22
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)1.36
Revenue Forecast (FY)$8.84B
PT Telekomunikasi Indonesia Tbk Business Overview & Revenue Model
Company Description
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides telecommunications, informatics, and network services worldwide. The company's Mobile segment offers mobile voice, SMS, and mobile broadband services; and digital services, in...
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:Jun 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
72
Positive
Balance Sheet
74
Positive
Cash Flow
77
Positive
| Breakdown | Mar 2026 | Mar 2025 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 8.86B | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Gross Profit | 2.73B | 10.00T> | 10.00T> | 10.00T> | 99.90T |
| EBITDA | 4.45B | 76.97T | 78.12T | 73.64T | 79.85T |
| Net Income | 1.08B | 23.61T | 24.43T | 20.74T | 24.88T |
Balance Sheet | |||||
| Total Assets | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Cash, Cash Equivalents and Short-Term Investments | 35.73T | 35.03T | 30.43T | 32.88T | 38.74T |
| Total Debt | 75.09T | 76.83T | 68.00T | 63.04T | 69.08T |
| Total Liabilities | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
| Stockholders Equity | 10.00T> | 10.00T> | 10.00T> | 10.00T> | 10.00T> |
Cash Flow | |||||
| Free Cash Flow | 41.33T | 31.94T | 26.98T | 38.34T | 38.43T |
| Operating Cash Flow | 64.40T | 61.60T | 60.58T | 73.35T | 68.35T |
| Investing Cash Flow | -26.32T | -29.46T | -36.91T | -39.12T | -37.91T |
| Financing Cash Flow | -38.07T | -27.50T | -26.57T | -40.97T | -12.78T |
PT Telekomunikasi Indonesia Tbk Technical Analysis
Neutral
22.36
Price Trends
17.87
Negative
19.52
Negative
19.71
Negative
Market Momentum
-0.33
Negative
49.32
Neutral
42.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TLK, the sentiment is Neutral. The current price of 22.36 is above the 20-day moving average (MA) of 16.96, above the 50-day MA of 17.87, and above the 200-day MA of 19.71, indicating a neutral trend. The MACD of -0.33 indicates Negative momentum. The RSI at 49.32 is Neutral, neither overbought nor oversold. The STOCH value of 42.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $22.79B | 26.59 | 9.28% | 5.03% | 10.34% | 17.26% | |
68 Neutral | $10.59B | 20.05 | 17.55% | 7.82% | 8.21% | 30.97% | |
65 Neutral | $14.24B | 12.72 | 3.01% | 5.02% | -7.08% | -73.85% | |
64 Neutral | $16.56B | 324,222.53 | 13.00% | 6.14% | -6.44% | -27.87% | |
62 Neutral | $34.22B | -6.03 | -0.79% | 3.77% | 16.69% | 87.10% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
* Communication Services Sector Average
TLK
PT Telekomunikasi Indonesia Tbk
17.32
1.60
10.18%
SKM
Sk Telecom
37.01
16.47
80.19%
VIV
Telefonica Brasil
14.09
4.60
48.49%
TIMB
TIM
22.17
5.77
35.15%
VOD
Vodafone
15.00
5.06
50.94%
PT Telekomunikasi Indonesia Tbk Corporate Events
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...
Telkom Indonesia Delays 2025 Annual Report and Q1 2026 Results Amid Ongoing Audit
May 1, 2026
On April 30, 2026, PT Telkom Indonesia (Persero) Tbk disclosed to Indonesia’s Financial Services Authority that it would delay filing its 2025 annual report, including its sustainability report, and its consolidated first‑quarter 2026 ...
Telkom Indonesia Sets Fully Electronic 2025 AGMS for June 8, 2026
May 1, 2026
PT Telkom Indonesia (Persero) Tbk has announced that it will convene its Annual General Meeting of Shareholders (AGMS) for the 2025 financial year on Monday, June 8, 2026, at 14:00 Western Indonesia Time. The meeting will be held electronically vi...
Telkom Indonesia Unveils Rp1 Trillion Share Buyback Plan Spanning 2026–2027
May 1, 2026
On May 1, 2026, PT Telekomunikasi Indonesia Tbk disclosed plans for a share buyback of stock listed on the Indonesia Stock Exchange and its American Depositary Receipts on the New York Stock Exchange, in line with Indonesian and U.S. capital marke...
PT Telekomunikasi Indonesia Tbk Aligns 2025 Annual Report Filing with U.S. SEC Deadline
Mar 31, 2026
PT Telekomunikasi Indonesia Tbk notified regulators on March 31, 2026 that, as a dual-listed issuer, it will follow U.S. Securities and Exchange Commission rules for filing its audited annual report for the 2025 fiscal year. Under those rules, the...
PT Telkom Indonesia Schedules Fully Electronic Extraordinary Shareholders Meeting for April 24, 2026
Mar 18, 2026
PT Telkom Indonesia (Persero) Tbk has notified investors that it will convene an Extraordinary General Meeting of Shareholders (EGMS) for 2026 on Friday, April 24, 2026, at 14:00 Western Indonesia Time via the eASY.KSEI electronic platform. The co...
PT Telekomunikasi Indonesia Flags Restatement of 2023–2024 Accounts After Asset Accounting Review
Mar 10, 2026
On March 2026, PT Telekomunikasi Indonesia Tbk said its consolidated financial statements for the years ended Dec. 31, 2024 and 2023, and the related audit reports, should no longer be relied upon due to errors in accounting for property and equip...
PT Telekomunikasi Indonesia Names Temporary Head of Internal Audit Unit
Mar 5, 2026
On March 5, 2026, PT Telekomunikasi Indonesia Tbk reported a leadership change in its Internal Audit Unit to Indonesia’s Financial Services Authority, in line with local regulatory requirements. The company appointed Mr. Afdol Muftiasa as te...
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.