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Telkom Indonesia (Persero) Tbk PT
IDX:TLKM

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Telkom Indonesia (Persero) Tbk PT
IDX:TLKM
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Price: 2 800 IDR -2.78% Market Closed
Market Cap: Rp277.4T

EV/S

2
Current
18%
Cheaper
vs 3-y average of 2.4

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
2
=
Enterprise Value
Rp366.5T
/
Revenue
Rp147.4T

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
2
=
Enterprise Value
Rp366.5T
/
Revenue
Rp147.4T

Valuation Scenarios

Telkom Indonesia (Persero) Tbk PT is trading below its 3-year average

If EV/S returns to its 3-Year Average (2.4), the stock would be worth Rp3 431.22 (23% upside from current price).

Statistics
Positive Scenarios
3/4
Maximum Downside
-25%
Maximum Upside
+47%
Average Upside
18%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 2 Rp2 800
0%
3-Year Average 2.4 Rp3 431.22
+23%
5-Year Average 2.5 Rp3 551.1
+27%
Industry Average 2.9 Rp4 111.7
+47%
Country Average 1.5 Rp2 103.42
-25%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
Rp366.5T
/
Oct 2025
Rp147.4T
=
2
Current
Rp366.5T
/
Dec 2025
Rp151T
=
2.4
Forward
Rp366.5T
/
Dec 2026
Rp155.5T
=
2.4
Forward
Rp366.5T
/
Dec 2027
Rp159.8T
=
2.3
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close

Market Distribution

In line with most companies in Indonesia
Percentile
55th
Based on 857 companies
55th percentile
2
Low
0 — 0.6
Typical Range
0.6 — 3.3
High
3.3 —
Distribution Statistics
Indonesia
Min 0
30th Percentile 0.6
Median 1.5
70th Percentile 3.3
Max 414 768.4

Telkom Indonesia (Persero) Tbk PT
Glance View

In the sprawling archipelago of Indonesia, Telkom Indonesia (Persero) Tbk PT stands as a beacon of connectivity and technological evolution. As the largest telecommunication services company in the country, this state-owned enterprise plays a crucial role in linking the islands through its comprehensive range of services. From its robust mobile and fixed-line services to broadband internet and digital television, Telkom Indonesia has woven the very fabric of modern communication in a nation characterized by its geographical diversity. The company intelligently capitalizes on the vast population base by deploying an extensive network infrastructure, offering services across both urban and rural areas, ensuring that connectivity is not just an urban privilege but a nationwide utility. This dedication to infrastructure development positions Telkom not only as a service provider but as a key player in driving the nation's digitization efforts. Revenue streams for Telkom Indonesia are both diverse and synergistic, cascading through multiple channels. Primarily, its mobile services under the Telkomsel brand serve as the company's largest revenue generator, tapping into Indonesia's burgeoning population of mobile users. Broadband internet services, particularly fiber optic products, are swiftly gaining ground as the demand for high-speed connectivity surges among both home users and businesses. Meanwhile, enterprise services are pushing the boundaries further by catering to corporate clients with integrated ICT solutions. The digital business, encompassing everything from digital payment systems to multimedia content, is also emerging as a key growth area, reflecting global shifts towards digital transformation. This multifaceted approach not only ensures a steady revenue flow but also situates Telkom Indonesia at the forefront of the technological evolution within Southeast Asia's largest economy.

TLKM Intrinsic Value
3 602.43 IDR
Undervaluation 22%
Intrinsic Value
Price Rp2 800
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