TLKM Fair Value & Analysis
Communication Services · ID · Market cap 249T IDR
Fair value as of: Jul 16, 2026
From 26 valuation models · updated 22 days ago
Fair value updated Jul 16, 2026, revised from 4,049 IDR to 3,898 IDR (−3.7%) since Jun 24, 2026. Share price +6.9% over the past month.
A solid business, screening 47% undervalued on our models.
What matters now
- The price is below even our cautious bear case (2,923 IDR). The market is more pessimistic than our downside scenario.
- Solid quality (55/100) at a price below fair value, the discount is the argument here, not the business quality.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 16, 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 2,650 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 Jul 16, 2026.
Analysis
TLKM (TLKM) currently trades at 2,650 IDR, while our model-based Fair Value estimate is 3,898 IDR, implying the stock looks roughly 47.1% undervalued today. We read business quality at 55/100 (solid quality), in the Communication Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium), always confirm before acting.
Over the trailing twelve months, TLKM generated revenue of 147T IDR at a net margin of 11.3%. Revenue grew 1.5% year over year. It earns a return on equity of 14.2%. Net debt stands at 40.5T IDR. Fundamentals as of Jul 16, 2026
Our scenario range runs from 2,923 IDR (bear case) to 4,872 IDR (bull case); at 2,650 IDR, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 34% below its 52-week high and 13% above its 52-week low, currently below its 200-day average. For context, the median of 10 Communication Services peers we cover trades at 32% fair-value upside, at 47%, TLKM screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: DCF Models (5,536 IDR) versus Asset-Based (887.13 IDR). Highest evidence: Growth DCF (80).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 16, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 62 · Market factors (momentum, volatility) 34
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
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.
Full company description
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).
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
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.
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Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Telecom Services stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Mobile Limited 600941 | ¥89.98 | ¥109.88 | +22% |
| T-Mobile US, Inc TMUS | $187.61 | $172.67 | -8% |
| Bharti Airtel Limited BHARTIARTL | ₹1,922 | ₹941.55 | -51% |
| China Telecom Corporation 601728 | ¥6.01 | ¥8.36 | +39% |
| América Móvil, S.A. AMXB | 23.07 MXN | 30.35 MXN | +32% |
| Vodafone Group VODN | 259.50 MXN | 507.27 MXN | +95% |
| Advanced Info Service Public Company ADVANC | 379.00 THB | 286.77 THB | -24% |
| Chunghwa Telecom Co 2412 | 133.50 TWD | 100.00 TWD | -25% |
| China Unicom (Hong Kong) Limited 0762 | HK$6.50 | HK$13.03 | +100% |
| Telefónica, S.A TEFN | 75.67 MXN | 111.01 MXN | +47% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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