TLKM fair value: what the stock is really worth
As of Sep 22, 2026: fair value of TLKM IDR 3,898, price IDR 2,470, upside +57.8%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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TLKM
TLKM · JKClearly undervaluedStrong Fair Value upside, but quality is only moderate.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range 1,963 IDR – 3,682 IDR · fair‑value band 2,923 IDR – 4,872 IDR · the 2,470 IDR price screens below the 3,898 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Company profile
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through Mobile, Consumer, Enterprise, Wholesale and International Business, and Other segments.
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Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide. The company operates through Mobile, Consumer, Enterprise, Wholesale and International Business, and Other segments. The Mobile segment offers mobile voice, SMS, mobile broadband, and value added services. The Consumer segment provides fixed wireline, pay TV, and internet services; and other telecommunication services to home customers. The Enterprise segment offers end-to-end solution to corporate and institutions. The Wholesale and International Business segment provides interconnection services, broadband access, information technology services, data, and internet services to other licensed operator and institutions. The Other segment offers digital content products, big data, business-to-business commerce, and financial services to individual and corporate customers. The company also engages in leasing of towers, and provision of digital support and other telecommunication services; provision of consultation service of hardware, software, data center, and internet exchange, as well as multimedia portal services; business management consulting; property development and management; trading service related to telecommunication, information, multimedia technology, entertainment, and investment services; and digital content exchange hub services. The company was founded in 1884 and is headquartered in Bandung, Indonesia. Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk operates as a subsidiary of PT Danantara Asset Management (Persero).
Stock analysis
TLKM (TLKM) currently trades at 2,470 IDR, while our model-based Fair Value estimate is 3,898 IDR, implying the stock looks roughly 36.6% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 5,978 IDR per share, and 22 of the 26 models we run sit above the 2,470 IDR price.
Bear case: the Asset-Based group reads lowest at 887.13 IDR, and 4 of the 26 models stay below the price. Evidence for this calculation is medium.
Scenario range: 2,923 IDR (bear) to 4,872 IDR (bull), the price of 2,470 IDR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 63/100 (solid quality), in the Communication Services sector.
Weak Growth: Growth has flattened: the last year, three and five years all grew more slowly than the long-term average.
TLKM reported revenue of 147T IDR in FY2025 versus 143T IDR in FY2021, a compound +0.6%/yr. Reported net income was 17.5T IDR in FY2025, compounding −15.3%/yr from FY2021.
Key figures
Market cap 245T IDR (≈ $24.5B) · P/E ratio 15.0 · P/S ratio 1.79 · EPS (TTM) 164.35 IDR · Net margin 11.9% · Return on equity 14.2% · Return on assets (EBIT) 14.7% · Operating margin 24.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 53 out of 100 (medium confidence).
What moves the price
The share trades about 38% below its 52-week high and 5% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Communication Services peers we cover trades at 25% fair-value upside, at 58%, TLKM screens cheaper than that median.
Fair Value models
All 26 models by family
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Set up alert →Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 34
Revenue & earnings trend
Growth Forecast
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Compare TLKM with another stock
Price, fair value, quality and upside side by side.
Context: sector, industry, market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Telecom Services stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Mobile Limited 600941 | ¥97.72 | ¥102.17 | +5% |
| T-Mobile US, Inc TMUS | $180.47 | $270.48 | +50% |
| Verizon Communications Inc VZ | $51.45 | $64.43 | +25% |
| AT&T Inc T | $25.45 | $43.97 | +73% |
| Bharti Airtel Limited BHARTIARTL | ₹1,832 | ₹1,883 | +3% |
| China Telecom Corporation 601728 | ¥6.26 | ¥8.36 | +34% |
| América Móvil, S.A. AMX | $22.98 | $39.05 | +70% |
| Singapore Telecommunications Limited Z77 | 4.50 SGD | 1.91 SGD | −58% |
| Swisscom AG SCMN | CHF 673.00 | CHF 463.92 | −31% |
| Telstra Group TLS | A$4.87 | A$3.31 | −32% |
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