(TLK) Telkom Indonesia (Persero) - Ratings and Ratios

Exchange: NYSE • Country: Indonesia • Currency: USD • Type: Common Stock • ISIN: ID1000129000

Mobile, Fixed, Internet, Enterprise, Wholesale

Stock: Integrated Telecommunication Services
Age 30.2y

MCap 20,585m
Avg Vol 455K (9.87M USD)

Beta 0.629
Volatility 26.64%

EPS (Earnings per Share)

EPS CAGR: -10.97%
EPS Trend: -73.4%

Last SUE: -1.12
Qual. Beats: 0

Revenue

Rev. CAGR: -0.40%
Rev. Trend: 10.5%

Last SUE: -0.02
Qual. Beats: 0

Dividends

Dividend Yield	7.64%
Yield on Cost 5y	6.84%
Yield CAGR 5y	2.26%
Payout Consistency	92.9%
Payout Ratio	124.6%

Risk via 5d forecast
Volatility	26.6%
Value at Risk 5%th	42.1%
Relative Tail Risk	-3.83%

Reward TTM
Sharpe Ratio	1.18
Alpha	29.88
CAGR/Max DD	-0.01

Character TTM
Hurst Exponent	0.414
Beta	0.629
Beta Downside	0.557

Drawdowns 3y
Max DD	50.55%
Mean DD	22.22%
Median DD	21.99%

Description: TLK Telkom Indonesia (Persero) December 19, 2025

PT Telekomunikasi Indonesia Tbk (TLK) is Indonesia’s largest integrated telecom operator, delivering ICT and network services across five core segments: Mobile (voice, SMS, broadband, and value-added services); Consumer (fixed line, pay-TV, residential internet); Enterprise (end-to-end corporate solutions); Wholesale & International Business (interconnection, broadband, IT services for other operators); and “Other” (digital content, big-data, B2B commerce, fintech, tower leasing, and consulting). The firm’s historic roots date back to 1884, and it is currently a state-owned enterprise headquartered in Bandung.

Key recent metrics (2023 Annual Report) show TLK generating roughly IDR 150 trillion in revenue, with a net profit margin of ~12% and cash-flow from operations of IDR 30 trillion. The Mobile segment carries ~280 million subscribers, of which >70% are on 4G/5G plans-a critical driver given Indonesia’s projected 5% real GDP growth in 2024 and rising data consumption (average ARPU up 8% YoY). The Wholesale segment benefits from the government’s “Digital Indonesia” agenda, which targets 100 million broadband connections by 2025, creating tailwinds for interconnection and data-center services. These figures are taken from publicly disclosed filings; any subsequent quarter-end results could materially adjust the outlook.

For a deeper quantitative dive, see the TLK profile on ValueRay.

Piotroski VR‑10 (Strict, 0-10) 6.5

Net Income (21758.00b TTM) > 0 and > 6% of Revenue (6% = 8841.90b TTM)

FCFTA 0.13 (>2.0%) and ΔFCFTA 1.36pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -11.72% (prev -15.89%; Δ 4.17pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 0.38 (>3.0%) and CFO 111204.00b > Net Income 21758.00b (YES >=105%, WARN >=100%)

Net Debt (46124.00b) to EBITDA (55520.00b) ratio: 0.83 <= 3.0 (WARN <= 3.5)

Current Ratio 0.77 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (990.6m) change vs 12m ago 0.0% (target <= -2.0% for YES)

Gross Margin 66.72% (prev 59.82%; Δ 6.90pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 51.08% (prev 52.68%; Δ -1.60pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio 6.27 (EBITDA TTM 55520.00b / Interest Expense TTM 4856.00b) >= 6 (WARN >= 3)

Altman Z'' 2.44

(A) -0.06 = (Total Current Assets 58408.00b - Total Current Liabilities 75685.00b) / Total Assets 291897.00b

(B) 0.36 = Retained Earnings (Balance) 104327.00b / Total Assets 291897.00b

(D) 0.91 = Book Value of Equity 124617.00b / Total Liabilities 136885.00b

Total Rating: 2.44 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 72.29

1. Piotroski 6.50pt

2. FCF Yield 9.42%

3. FCF Margin 26.59%

4. Debt/Equity 0.57

5. Debt/Ebitda 0.83

6. ROIC - WACC (= 5.35)%

7. RoE 15.56%

8. Rev. Trend 10.50%

9. EPS Trend -73.41%

What is the price of TLK shares?

As of January 18, 2026, the stock is trading at USD 21.74 with a total of 341,029 shares traded.
Over the past week, the price has changed by +4.62%, over one month by +1.92%, over three months by +20.44% and over the past year by +44.78%.

Is TLK a buy, sell or hold?

Telkom Indonesia (Persero) has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold TLK.

Strong Buy: 0
Buy: 0
Hold: 1
Sell: 0
Strong Sell: 0

What are the forecasts/targets for the TLK price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	24.1	10.9%
Analysts Target Price	24.1	10.9%
ValueRay Target Price	27	24%

TLK Fundamental Data Overview January 13, 2026

Market Cap IDR = 346962.33b (20.59b USD * 16855.0 USD.IDR)
P/E Trailing = 15.8626
P/E Forward = 14.8588
P/S = 2.3421
P/B = 2.5168
P/EG = 13.513
Revenue TTM = 147365.00b IDR
EBIT TTM = 30453.00b IDR
EBITDA TTM = 55520.00b IDR
Long Term Debt = 25802.00b IDR (from longTermDebt, last quarter)
Short Term Debt = 33844.00b IDR (from shortTermDebt, last quarter)
Debt = 77678.00b IDR (from shortLongTermDebtTotal, last quarter)
Net Debt = 46124.00b IDR (from netDebt column, last quarter)
Enterprise Value = 415771.33b IDR (346962.33b + Debt 77678.00b - CCE 8869.00b)
Interest Coverage Ratio = 6.27 (Ebit TTM 30453.00b / Interest Expense TTM 4856.00b)
EV/FCF = 10.61x (Enterprise Value 415771.33b / FCF TTM 39181.00b)
FCF Yield = 9.42% (FCF TTM 39181.00b / Enterprise Value 415771.33b)
FCF Margin = 26.59% (FCF TTM 39181.00b / Revenue TTM 147365.00b)
Net Margin = 14.76% (Net Income TTM 21758.00b / Revenue TTM 147365.00b)
Gross Margin = 66.72% ((Revenue TTM 147365.00b - Cost of Revenue TTM 49042.00b) / Revenue TTM)
Gross Margin QoQ = 67.25% (prev 66.22%)
Tobins Q-Ratio = 1.42 (Enterprise Value 415771.33b / Total Assets 291897.00b)
Interest Expense / Debt = 1.78% (Interest Expense 1384.00b / Debt 77678.00b)
Taxrate = 21.92% (1816.00b / 8285.00b)
NOPAT = 23777.97b (EBIT 30453.00b * (1 - 21.92%))
Current Ratio = 0.77 (Total Current Assets 58408.00b / Total Current Liabilities 75685.00b)
Debt / Equity = 0.57 (Debt 77678.00b / totalStockholderEquity, last quarter 137139.00b)
Debt / EBITDA = 0.83 (Net Debt 46124.00b / EBITDA 55520.00b)
Debt / FCF = 1.18 (Net Debt 46124.00b / FCF TTM 39181.00b)
Total Stockholder Equity = 139873.25b (last 4 quarters mean from totalStockholderEquity)
RoA = 7.54% (Net Income 21758.00b / Total Assets 291897.00b)
RoE = 15.56% (Net Income TTM 21758.00b / Total Stockholder Equity 139873.25b)
RoCE = 18.38% (EBIT 30453.00b / Capital Employed (Equity 139873.25b + L.T.Debt 25802.00b))
RoIC = 12.32% (NOPAT 23777.97b / Invested Capital 192978.75b)
WACC = 6.97% (E(346962.33b)/V(424640.33b) * Re(8.22%) + D(77678.00b)/V(424640.33b) * Rd(1.78%) * (1-Tc(0.22)))
Discount Rate = 8.22% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
[DCF Debug] Terminal Value 82.70% ; FCFF base≈37270.20b ; Y1≈39427.33b ; Y5≈46719.62b
Fair Price DCF = 982.6k (EV 1019551.59b - Net Debt 46124.00b = Equity 973427.59b / Shares 990.6m; r=6.97% [WACC]; 5y FCF grow 6.38% → 2.90% )
EPS Correlation: -73.41 | EPS CAGR: -10.97% | SUE: -1.12 | # QB: 0
Revenue Correlation: 10.50 | Revenue CAGR: -0.40% | SUE: -0.02 | # QB: 0
EPS next Year (2026-12-31): EPS=1.54 | Chg30d=+0.027 | Revisions Net=+1 | Growth EPS=+14.0% | Growth Revenue=+4.3%

Additional Sources for TLK Stock

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