(TLK) Telkom Indonesia (Persero) - Overview
Stock: Mobile, Fixed, Internet, Enterprise, Wholesale
EPS (Earnings per Share)
Revenue
Dividends
| Dividend Yield | 7.64% |
| Yield on Cost 5y | 7.08% |
| Yield CAGR 5y | 2.26% |
| Payout Consistency | 92.9% |
| Payout Ratio | 124.6% |
| Risk 5d forecast | |
|---|---|
| Volatility | 43.6% |
| Relative Tail Risk | -5.19% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.06 |
| Alpha | 27.50 |
| Character TTM | |
|---|---|
| Beta | 0.652 |
| Beta Downside | 0.496 |
| Drawdowns 3y | |
|---|---|
| Max DD | 50.55% |
| CAGR/Max DD | -0.02 |
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 |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA 1.36 > 1.0 |
| NWC/Revenue: -11.72% < 20% (prev -15.89%; Δ 4.17% < -1%) |
| CFO/TA 0.38 > 3% & CFO 111204.00b > Net Income 21758.00b |
| Net Debt (46124.00b) to EBITDA (55520.00b): 0.83 < 3 |
| Current Ratio: 0.77 > 1.5 & < 3 |
| Outstanding Shares: last quarter (990.6m) vs 12m ago 0.0% < -2% |
| Gross Margin: 66.72% > 18% (prev 0.60%; Δ 6612 % > 0.5%) |
| Asset Turnover: 51.08% > 50% (prev 52.68%; Δ -1.60% > 0%) |
| Interest Coverage Ratio: 6.27 > 6 (EBITDA TTM 55520.00b / Interest Expense TTM 4856.00b) |
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 104327.00b / Total Assets 291897.00b) |
| C: 0.11 (EBIT TTM 30453.00b / Avg Total Assets 288515.50b) |
| D: 0.91 (Book Value of Equity 124617.00b / Total Liabilities 136885.00b) |
| Altman-Z'' Score: 2.44 = A |
Beneish M -3.19
| DSRI: 1.13 (Receivables 17357.00b/15711.00b, Revenue 147365.00b/150197.00b) |
| GMI: 0.90 (GM 66.72% / 59.82%) |
| AQI: 1.26 (AQ_t 0.12 / AQ_t-1 0.10) |
| SGI: 0.98 (Revenue 147365.00b / 150197.00b) |
| TATA: -0.31 (NI 21758.00b - CFO 111204.00b) / TA 291897.00b) |
| Beneish M-Score: -3.19 (Cap -4..+1) = AA |
What is the price of TLK shares?
Over the past week, the price has changed by -2.98%, over one month by -4.07%, over three months by +0.05% and over the past year by +41.89%.
Is TLK a buy, sell or hold?
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
What are the forecasts/targets for the TLK price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 24.1 | 17.6% |
| Analysts Target Price | 24.1 | 17.6% |
| ValueRay Target Price | 23.4 | 14% |
TLK Fundamental Data Overview February 03, 2026
P/E Trailing = 15.8797
P/E Forward = 14.8368
P/S = 2.339
P/B = 2.5134
P/EG = 13.4946
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 = 419565.32b IDR (350756.32b + Debt 77678.00b - CCE 8869.00b)
Interest Coverage Ratio = 6.27 (Ebit TTM 30453.00b / Interest Expense TTM 4856.00b)
EV/FCF = 10.71x (Enterprise Value 419565.32b / FCF TTM 39181.00b)
FCF Yield = 9.34% (FCF TTM 39181.00b / Enterprise Value 419565.32b)
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 = 1.44 (Enterprise Value 419565.32b / 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 = 7.06% (E(350756.32b)/V(428434.32b) * Re(8.32%) + D(77678.00b)/V(428434.32b) * Rd(1.78%) * (1-Tc(0.22)))
Discount Rate = 8.32% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 0.0 | Cagr: 0.0%
[DCF Debug] Terminal Value 82.35% ; FCFF base≈37270.20b ; Y1≈39427.33b ; Y5≈46719.62b
Fair Price DCF = 959.6k (EV 996710.59b - Net Debt 46124.00b = Equity 950586.59b / Shares 990.6m; r=7.06% [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%