Telkom Indonesia is the nation's dominant telco with monopoly on fixed-line infrastructure and majority ownership in Telkomsel (the leading mobile operator with ~56% market share). Indonesia's data consumption growth is among the highest in ASEAN as 270M people upgrade from 4G to 5G and migrate to digital services. IndiHome broadband (now merged into Telkomsel) addresses the underserved home broadband market. Government as majority owner creates both strategic stability and occasional subsidy obligations that can dilute returns.
Thesis reviewed May 29, 2026
Telkom Indonesia (Persero) Tbk is headquartered in Indonesia, which is currently showing moderate signals.
🇮🇩Indonesia61NEUTRALView Indonesia risk detail →📡Telecom27NEUTRAL| Ticker | Company | Score | Gap | Signal Δ | Action |
|---|---|---|---|---|---|
| ERIC | Telefonaktiebolaget LM Ericsson | 32 | +5% | ↑1% | EARLY |
| ORAN | Orange S.A. | 32 | +1% | ↑1% | NEUTRAL |
| VOD | Vodafone Group PLC | 32 | +9% | ↑1% | NEUTRAL |
| VZ | Verizon Communications Inc. | 32 | +1% | ↑1% | NEUTRAL |
| AMOV | América Móvil S.A.B. de C.V. | 32 | +9% | ↑1% | EARLY |
| TEF | Telefónica, S.A. | 32 | 0% | ↑1% | NEUTRAL |
| T | AT&T Inc. | 32 | +2% | ↑1% | NEUTRAL |
Investors who hold TLKM.JK may also have indirect exposure through these country funds.
Telkomsel data revenue +18% YoY; 5G coverage now reaches 55 cities
IndiHome-Telkomsel merger synergies exceed target: IDR 2.5T cost savings in year 1
Telkom data centre business (NeutraDC) wins hyperscaler co-location contracts
Estimates · Yahoo Finance · Not audited figures