Financials Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk

Equities

TLKM

ID1000129000

Integrated Telecommunications Services

End-of-day quote INDONESIA S.E. 03:30:00 30/04/2024 am IST 5-day change 1st Jan Change
3,170 IDR +2.92% Intraday chart for Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk -.--% -19.75%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 39,32,77,000 32,78,95,937 40,02,11,355 37,14,83,312 39,12,95,756 31,40,27,227 - -
Enterprise Value (EV) 2 4,27,119 3,72,769 4,30,978 3,71,483 3,91,296 3,44,639 3,41,685 3,38,299
P/E ratio 21.1 x 15.8 x 16.2 x 17.9 x 15.9 x 11.9 x 11.2 x 10.9 x
Yield 3.88% 3.81% 4.16% - - 6.15% 6.54% 6.9%
Capitalization / Revenue 2.9 x 2.4 x 2.79 x 2.52 x 2.62 x 2.02 x 1.93 x 1.86 x
EV / Revenue 3.15 x 2.73 x 3.01 x 2.52 x 2.62 x 2.22 x 2.1 x 2 x
EV / EBITDA 6.51 x 5.15 x 5.43 x 5.1 x 5.33 x 4.25 x 3.99 x 3.8 x
EV / FCF 21.6 x 10.4 x 11.2 x - - 10.5 x 10 x 9.48 x
FCF Yield 4.62% 9.59% 8.97% - - 9.55% 9.96% 10.5%
Price to Book 3.95 x 3.2 x 3.29 x - - 2.22 x 2.06 x 2.01 x
Nbr of stocks (in thousands) 9,90,62,217 9,90,62,217 9,90,62,217 9,90,62,217 9,90,62,217 9,90,62,217 - -
Reference price 3 3,970 3,310 4,040 3,750 3,950 3,170 3,170 3,170
Announcement Date 26/05/20 30/04/21 19/04/22 25/03/23 25/03/24 - - -
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 1,35,567 1,36,462 1,43,210 1,47,306 1,49,216 1,55,155 1,62,832 1,68,946
EBITDA 1 65,572 72,397 79,379 72,836 73,457 80,998 85,575 89,127
EBIT 1 42,394 43,505 47,563 39,581 44,384 47,873 50,628 52,537
Operating Margin 31.27% 31.88% 33.21% 26.87% 29.74% 30.85% 31.09% 31.1%
Earnings before Tax (EBT) 1 37,908 38,775 43,678 36,339 40,794 43,516 46,674 48,096
Net income 1 18,663 20,804 24,760 20,753 24,560 26,356 28,278 29,229
Net margin 13.77% 15.25% 17.29% 14.09% 16.46% 16.99% 17.37% 17.3%
EPS 2 188.4 210.0 249.9 209.5 247.9 266.9 283.7 290.8
Free Cash Flow 3 1,97,31,000 3,57,57,000 3,86,41,000 - - 3,29,29,667 3,40,32,571 3,56,82,714
FCF margin 14,554.43% 26,202.9% 26,982.05% - - 21,223.72% 20,900.4% 21,120.77%
FCF Conversion (EBITDA) 30,090.59% 49,390.17% 48,679.12% - - 40,654.94% 39,769.18% 40,035.93%
FCF Conversion (Net income) 1,05,722.55% 1,71,875.6% 1,56,062.2% - - 1,24,939.95% 1,20,351.36% 1,22,081.63%
Dividend per Share 2 154.1 126.0 168.0 - - 195.0 207.4 218.7
Announcement Date 26/05/20 30/04/21 19/04/22 25/03/23 25/03/24 - - -
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 14,394 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 6,434 - - - -
Net margin 16.44% - - 19.56% 8.87% 10.86% 17.8% 16.94% 17.86% 13.33% 16.17% 16.7% - - - -
EPS 2 - 59.44 61.76 72.60 33.02 42.11 64.85 63.92 68.07 51.08 61.10 73.12 77.07 54.56 73.24 77.07
Dividend per Share 2 - - - 150.0 - - - 167.6 - - - 50.75 46.85 50.75 - -
Announcement Date 07/08/20 19/04/22 09/05/22 29/07/22 28/10/22 25/03/23 29/04/23 28/07/23 31/10/23 25/03/24 18/04/24 - - - - -
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 - - 30,612 27,658 24,272
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 0.5161 x 0.6198 x 0.3876 x - - 0.3779 x 0.3232 x 0.2723 x
Free Cash Flow 2 1,97,31,000 3,57,57,000 3,86,41,000 - - 3,29,29,667 3,40,32,571 3,56,82,714
ROE (net income / shareholders' equity) 18.8% 20.6% 22.1% - - 18.5% 18.8% 18.8%
ROA (Net income/ Total Assets) 8.73% 8.89% 9.45% - - 9.27% 9.46% 9.5%
Assets 1 2,13,702 2,34,076 2,62,064 - - 2,84,175 2,98,962 3,07,608
Book Value Per Share 3 1,005 1,035 1,228 - - 1,430 1,538 1,578
Cash Flow per Share 3 555.0 659.0 690.0 - - 635.0 715.0 749.0
Capex 1 35,218 29,560 29,712 - - 36,031 37,381 38,536
Capex / Sales 25.98% 21.66% 20.75% - - 23.22% 22.96% 22.81%
Announcement Date 26/05/20 30/04/21 19/04/22 25/03/23 25/03/24 - - -
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

Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
27
Last Close Price
3,170 IDR
Average target price
4,226 IDR
Spread / Average Target
+33.31%
Consensus
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