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TLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk
$12.42$12.4B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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TLK logo

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

TLK
NYSE · Telecom Services
$12.42
At close - Oct 1, 4:00 PM EDT - USD
Market Cap$12.28B
P/E12.2x
52W High$23.52
Volume1.22M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q2

SOE Utility Faces Margin Erosion Amid Market Saturation

PT Telekomunikasi Indonesia (TLK) is a state-owned telecommunications utility facing a challenging transition, with revenue growth stalling into negative territory (-2.2% YoY in Q1 2026) and operating margins contracting from 29.4% to 24.6% over two years, sug...

GrowthMixed
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

TLK price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

3/12 Beats

EPS beat 3 of last 12 quarters

02

Valuation risk

-19% Peers

P/E is 19% below peer median

03

Market leadership

RS 21 · Lag

Laggard (Underperforming 79% of market)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 31
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth has stalled into negative territory (-2.2% YoY in Q1 2026) while operating margins have contracted from 29.4% to 24.6% over two years, indicating market saturation and competitive pricing pressures are eroding profitability.

Analyst Consensus
Hold(2 analysts)
0 Buy2 Hold0 Sell

The Bull Case

Upside Catalysts

Attractive Valuation and Solid Yield

TLK is considered to be trading at an attractive valuation, offering a solid dividend yield of approximately 6%. This makes it appealing for income-focused investors.

Growth Potential in Indonesia

As a vital service provider in Indonesia, TLK is well-positioned to benefit from the country's strong long-term economic potential and digital transformation.

Strategic Pivot and Expansion

The company is undergoing a strategic pivot that includes spinning off assets, optimizing its portfolio, and aggressively expanding into data centers, which are seen as key growth areas for the future.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 10/3/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
TLK-35.26%
S&P 500 (^GSPC)+11.83%
1-Year Return
TLK-27.02%
S&P 500 (^GSPC)+14.29%
3-Year Return
TLK-32.86%
S&P 500 (^GSPC)+76.17%
5-Year Return
TLK-28.85%
S&P 500 (^GSPC)+72.17%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
12.3x
Forward P/EExpansion
0.0x
EV/EBITDA100th %ile
3.7x
FCF YieldCash Flow
17.2%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
12.3x
0.0x
100th· High
EV/EBITDA
3.7x
0.5x
100th· High
Price/FCF
5.8x
0.0x
100th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$28.11+126.3%
Base (Fair)$43.59+247.3%
Bull$62.99+407.2%
$28.11 Bear$43.59 Base$62.99 Bull
Current Market Price: $12.42
Trades at a 71.5% discount to Base DCF ($43.59)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$146742B-2.2% YoY
Net income
$17486B-25.9% YoY
Free cash flow
$38074B+19.2% YoY
Operating margin
23.3%-5.4 pts YoY
ROIC (TTM)12.9%
Avg ROIC 5Y-
ROE (TTM)11.2%
Piotroski Score6 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate3/12 (25%)
Revenue Beat Rate2/12 (18%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 31, 2026
$0.36+11.0%
vs $0.32
$2.2B+3.2%
vs $2.1B
Q3 2026
Jun 3, 2026
$0.24-28.5%
vs $0.34
$2.1B-2.4%
vs $2.1B
Q2 2026
May 29, 2026
$0.25-27.5%
vs $0.34
$2.1B-2.2%
vs $2.1B
Q2 2026
May 12, 2026
$0.12-64.9%
vs $0.34
—
vs $2.1B
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

2 Stories
Defense World·Sep 17, 2026
Engineers Gate Manager LP Boosts Stock Holdings in PT Telekomunikasi Indonesia, Tbk $TLK

Engineers Gate Manager LP increased its holdings in PT Telekomunikasi Indonesia, Tbk (NYSE: TLK) by 288.1% in the undefined quarter, according to its most recent filing with the SEC. The institutional investor owned 118,281 shares of the utilities provider's stock after buying an additional 87,803 shares during the quarter. Engineers Gate Manager LP's

Seeking Alpha·Jul 28, 2026
Telekomunikasi Indonesia: Turning Bullish On Positive Developments (Rating Upgrade)

I upgrade PT Telekomunikasi Indonesia Tbk to 'Buy' after identifying favorable read-throughs from recent events. TLK secured the largest spectrum share at significantly reduced costs, enhancing its 5G capacity and competitive positioning. Potential special distributions from future asset sales support a compelling capital return outlook.

Filtered for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia TbkMore Headlines
04

Compare before deciding

Benchmark TLK against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
TLK logoTLKPerusahaan Perseroan (Persero) PT Telekomunikasi Indonesia TbkCurrent
$12.42$12.28B12.23-2.15%11.92%11.16%9.54%
PHI logoPHIPLDT Inc.
$17.55$3.79B7.782.98%12.84%22.37%—
VIV logoVIVTelefônica Brasil S.A.
$11.36$18.15B15.554.62%10.7%9.72%—
TEO logoTEOTelecom Argentina S.A.
$11.65$5.02B-45.04101.3%7.53%9.52%—
TKC logoTKCTurkcell Iletisim Hizmetleri A.S.
$5.02$4.37B10.99-96.34%7.63%7.29%—
BCE logoBCEBCE Inc.
$19.92$18.58B4.180.24%25.25%26.65%—

Compare TLK vs Peers

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs PHI

Most directly comparable listed peer for TLK.

Scale Benchmark

vs CSCO

Larger-name benchmark to compare TLK against a more recognizable public peer.

Peer Set

Compare Top 5

vs PHI, VIV, TEO, TKC

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TLK Frequently Asked Questions

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk's revenue?

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) reported $186.81T in revenue for fiscal year 2025. This represents a 2350% increase from $7.63T in 1996.

How fast is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk growing?

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) saw revenue decline by 2.2% over the past year.

Is TLK profitable?

Yes, Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) is profitable, generating $21.48T in net income for fiscal year 2025 (11.9% net margin).

Dividend & Returns
Does TLK pay dividends?

Yes, Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) pays a dividend with a yield of 9.54%. This makes it attractive for income-focused investors.

What is TLK's return on equity?

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) has a return on equity (ROE) of 11.2%. This is reasonable for most industries.

What is Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk's free cash flow?

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) generated $41.42T in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Industry Metrics
Is TLK's dividend sustainable?

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) has a dividend payout ratio of 120%. The high payout ratio may limit dividend growth.

What if you invested $1,000 in TLK back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →