PERUSAHAAN PERSEROAN (PERSERO) PT TELEKOMUNIKASI INDONESIA TBK

Financials Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk Nyse

Equities

TLK

US7156841063

Integrated Telecommunications Services

Market Closed - Nyse Other stock markets 01:30:01 11/05/2024 am IST			5-day change	1st Jan Change
19.24 ^USD	-0.21%		-1.18%	-25.31%

05:20pm	Asian Equities Traded in the US as American Depositary Receipts Rise in Friday Trading But End Week 1% Lower	MT
09/05	Asian Equities Traded in the US as American Depositary Receipts Trend Lower Thursday	MT

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	30,51,11,627	-	-
Enterprise Value (EV) ²	4,27,119	3,72,769	4,30,978	3,71,483	3,91,296	3,35,872	3,33,042	3,30,992
P/E ratio	21.1 x	15.8 x	16.2 x	17.9 x	15.9 x	11.5 x	11 x	10.7 x
Yield	3.88%	3.81%	4.16%	-	-	6.28%	6.66%	7.03%
Capitalization / Revenue	2.9 x	2.4 x	2.79 x	2.52 x	2.62 x	2 x	1.89 x	1.81 x
EV / Revenue	3.15 x	2.73 x	3.01 x	2.52 x	2.62 x	2.2 x	2.06 x	1.97 x
EV / EBITDA	6.51 x	5.15 x	5.43 x	5.1 x	5.33 x	4.19 x	3.93 x	3.74 x
EV / FCF	21.6 x	10.4 x	11.2 x	-	-	10.3 x	9.89 x	9.39 x
FCF Yield	4.62%	9.59%	8.97%	-	-	9.73%	10.1%	10.6%
Price to Book	3.95 x	3.2 x	3.29 x	-	-	2.14 x	2.02 x	1.95 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	3,080	3,080	3,080
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	1,52,831	1,61,715	1,68,320
EBITDA ¹	65,572	72,397	79,379	72,836	73,457	80,082	84,824	88,590
EBIT ¹	42,394	43,505	47,563	39,581	44,384	48,527	50,027	52,080
Operating Margin	31.27%	31.88%	33.21%	26.87%	29.74%	31.75%	30.94%	30.94%
Earnings before Tax (EBT) ¹	37,908	38,775	43,678	36,339	40,794	43,324	45,891	48,005
Net income ¹	18,663	20,804	24,760	20,753	24,560	27,167	27,907	28,889
Net margin	13.77%	15.25%	17.29%	14.09%	16.46%	17.78%	17.26%	17.16%
EPS ²	188.4	210.0	249.9	209.5	247.9	267.3	280.0	287.9
Free Cash Flow ³	1,97,31,000	3,57,57,000	3,86,41,000	-	-	3,26,74,667	3,36,78,286	3,52,32,857
FCF margin	14,554.43%	26,202.9%	26,982.05%	-	-	21,379.55%	20,825.67%	20,932.05%
FCF Conversion (EBITDA)	30,090.59%	49,390.17%	48,679.12%	-	-	40,801.55%	39,703.9%	39,770.52%
FCF Conversion (Net income)	1,05,722.55%	1,71,875.6%	1,56,062.2%	-	-	1,20,272.31%	1,20,680.63%	1,21,959.01%
Dividend per Share ²	154.1	126.0	168.0	-	-	193.4	205.3	216.6
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	61.05	62.44	60.13	65.98	65.45
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	-	-	30,760	27,930	25,880
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	0.5161 x	0.6198 x	0.3876 x	-	-	0.3841 x	0.3293 x	0.2921 x
Free Cash Flow ²	1,97,31,000	3,57,57,000	3,86,41,000	-	-	3,26,74,667	3,36,78,286	3,52,32,857
ROE (net income / shareholders' equity)	18.8%	20.6%	22.1%	-	-	18.5%	18.7%	18.5%
ROA (Net income/ Total Assets)	8.73%	8.89%	9.45%	-	-	9.21%	9.33%	9.4%
Assets ¹	2,13,702	2,34,076	2,62,064	-	-	2,94,954	2,99,217	3,07,455
Book Value Per Share ³	1,005	1,035	1,228	-	-	1,437	1,521	1,581
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	-	-	36,818	37,328	38,088
Capex / Sales	25.98%	21.66%	20.75%	-	-	24.09%	23.08%	22.63%
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

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

3,080 IDR

Average target price

4,185 IDR

Spread / Average Target

+35.86%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Other Integrated Telecommunications Services

	1st Jan change	Capi.
CHINA MOBILE LIMITED	+14.20%	198B
VERIZON COMMUNICATIONS	+7.16%	167B
DEUTSCHE TELEKOM AG	+1.01%	117B
NIPPON TELEGRAPH AND TELEPHONE CORPORATION	-5.80%	90.72B
CHINA TELECOM CORPORATION LIMITED	+19.52%	71.43B
AMÉRICA MÓVIL, S.A.B. DE C.V.	+8.13%	61.13B
SAUDI TELECOM COMPANY	-4.83%	51.1B
EMIRATES TELECOMMUNICATIONS GROUP COMPANY	-14.56%	39.73B
CHARTER COMMUNICATIONS, INC.	-29.11%	38.02B

Other Integrated Telecommunications Services