PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA TBK

Financials Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Börse Stuttgart

Equities

TCID

ID1000129000

Integrated Telecommunications Services

Delayed Börse Stuttgart Other stock markets 02:05:25 2024-06-27 EDT			5-day change	1st Jan Change
0.156 ^EUR	-2.50%		+6.67%	-27.93%

06-26	Asian Equities Traded in the US as American Depositary Receipts Edge Lower in Wednesday Trading	MT
06-25	Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Tuesday Trading	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	393,277,000	327,895,937	400,211,355	371,483,312	391,295,756	297,186,650	-	-
Enterprise Value (EV) ²	427,119	372,769	430,978	371,483	428,752	330,174	325,591	323,564
P/E ratio	21.1 x	15.8 x	16.2 x	17.9 x	15.9 x	11.3 x	10.7 x	10.4 x
Yield	3.88%	3.81%	4.16%	-	-	6.36%	6.78%	7.2%
Capitalization / Revenue	2.9 x	2.4 x	2.79 x	2.52 x	2.62 x	1.92 x	1.83 x	1.76 x
EV / Revenue	3.15 x	2.73 x	3.01 x	2.52 x	2.87 x	2.13 x	2.01 x	1.92 x
EV / EBITDA	6.51 x	5.15 x	5.43 x	5.1 x	5.53 x	4.09 x	3.83 x	3.65 x
EV / FCF	21.6 x	10.4 x	11.2 x	-	15.9 x	10.4 x	9.67 x	9.19 x
FCF Yield	4.62%	9.59%	8.97%	-	6.29%	9.6%	10.3%	10.9%
Price to Book	3.95 x	3.2 x	3.29 x	-	2.88 x	2.11 x	1.97 x	1.9 x
Nbr of stocks (in thousands)	99,062,217	99,062,217	99,062,217	99,062,217	99,062,217	99,062,217	-	-
Reference price ³	3,970	3,310	4,040	3,750	3,950	3,000	3,000	3,000
Announcement Date	20-05-26	21-04-30	22-04-19	23-03-25	24-03-25	-	-	-

¹IDR in Million²IDR in Billions³IDR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	135,567	136,462	143,210	147,306	149,216	155,112	162,182	168,496
EBITDA ¹	65,572	72,397	79,379	72,836	77,579	80,741	84,951	88,671
EBIT ¹	42,394	43,505	47,563	39,581	44,384	47,461	50,261	52,173
Operating Margin	31.27%	31.88%	33.21%	26.87%	29.74%	30.6%	30.99%	30.96%
Earnings before Tax (EBT) ¹	37,908	38,775	43,678	36,339	40,794	43,682	46,256	47,887
Net income ¹	18,663	20,804	24,760	20,753	24,560	26,129	27,994	28,879
Net margin	13.77%	15.25%	17.29%	14.09%	16.46%	16.85%	17.26%	17.14%
EPS ²	188.4	210.0	249.9	209.5	247.9	264.8	280.9	287.8
Free Cash Flow ³	19,731,000	35,757,000	38,641,000	-	26,980,000	31,697,000	33,654,143	35,210,000
FCF margin	14,554.43%	26,202.9%	26,982.05%	-	18,081.17%	20,434.92%	20,750.79%	20,896.68%
FCF Conversion (EBITDA)	30,090.59%	49,390.17%	48,679.12%	-	34,777.45%	39,257.77%	39,615.87%	39,708.6%
FCF Conversion (Net income)	105,722.55%	171,875.6%	156,062.2%	-	109,853.42%	121,309.57%	120,218.47%	121,920.99%
Dividend per Share ²	154.1	126.0	168.0	-	-	190.9	203.3	215.9
Announcement Date	20-05-26	21-04-30	22-04-19	23-03-25	24-03-25	-	-	-

¹IDR in Billions²IDR³IDR in Million

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2020 S1	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	66,856	-	-	36,775	36,891	38,432	36,090	37,388	37,760	37,978	37,429	38,519	38,704	39,397	-	-
EBITDA ¹	36,077	-	18,587	-	-	16,245	-	-	20,096	18,516	19,093	20,471	-	-	-	-
EBIT ¹	22,150	-	-	12,325	8,637	8,008	11,431	11,588	11,963	9,402	11,008	11,653	11,672	11,612	-	-
Operating Margin	33.13%	-	-	33.51%	23.41%	20.84%	31.67%	30.99%	31.68%	24.76%	29.41%	30.25%	30.16%	29.47%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	7,142	-	-	-	8,512	-	-	-	-	-	-
Net income ¹	10,989	5,888	6,118	7,192	3,271	4,172	6,424	6,332	6,743	5,061	6,053	6,516	6,651	6,791	-	-
Net margin	16.44%	-	-	19.56%	8.87%	10.86%	17.8%	16.94%	17.86%	13.33%	16.17%	16.92%	17.19%	17.24%	-	-
EPS ²	-	59.44	61.76	72.60	33.02	42.11	64.85	63.92	68.07	51.08	61.10	63.83	64.79	64.35	65.98	65.45
Dividend per Share ²	-	-	-	150.0	-	-	-	167.6	-	-	-	49.31	45.52	49.31	51.99	56.33
Announcement Date	20-08-07	22-04-19	22-05-09	22-07-29	22-10-28	23-03-25	23-04-29	23-07-28	23-10-31	24-03-25	24-04-18	-	-	-	-	-

¹IDR in Billions²IDR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	33,842	44,873	30,767	-	37,456	32,987	28,404	26,378
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.5161 x	0.6198 x	0.3876 x	-	0.4828 x	0.4086 x	0.3344 x	0.2975 x
Free Cash Flow ²	19,731,000	35,757,000	38,641,000	-	26,980,000	31,697,000	33,654,143	35,210,000
ROE (net income / shareholders' equity)	18.8%	20.6%	22.1%	-	18.5%	18.3%	18.6%	18.2%
ROA (Net income/ Total Assets)	8.73%	8.89%	9.45%	-	8.74%	9.19%	9.42%	9.4%
Assets ¹	213,702	234,076	262,064	-	281,116	284,454	297,300	307,352
Book Value Per Share ³	1,005	1,035	1,228	-	1,370	1,422	1,520	1,578
Cash Flow per Share ³	555.0	659.0	690.0	-	612.0	636.0	710.0	748.0
Capex ¹	35,218	29,560	29,712	-	33,601	36,595	37,141	37,955
Capex / Sales	25.98%	21.66%	20.75%	-	22.52%	23.59%	22.9%	22.53%
Announcement Date	20-05-26	21-04-30	22-04-19	23-03-25	24-03-25	-	-	-

¹IDR in Billions²IDR in Million³IDR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

3,000 IDR

Average target price

4,137 IDR

Spread / Average Target

+37.90%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Integrated Telecommunications Services

	1st Jan change	Capi.
CHINA MOBILE LIMITED	+15.74%	209B
VERIZON COMMUNICATIONS	+8.81%	173B
DEUTSCHE TELEKOM AG	+7.77%	123B
NIPPON TELEGRAPH AND TELEPHONE CORPORATION	-12.19%	79.17B
CHINA TELECOM CORPORATION LIMITED	+24.33%	70.53B
AMÉRICA MÓVIL, S.A.B. DE C.V.	-1.59%	52.59B
SAUDI TELECOM COMPANY	-7.30%	49.29B
CHARTER COMMUNICATIONS, INC.	-24.98%	42B
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-19.14%	37.55B

Other Integrated Telecommunications Services