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The Screen · Communication Services · Telecom Services
Telkom Indonesia (Persero) Tbk PT ADR
TLK · the NYSE · USD · Market cap $12.1B · 18,539 employees
Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides information and communications technology, and telecommunications network services worldwide.
Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical passes the values gate
Price10.95 USD
Fair value17.00Our model only; only one analyst covers it, too few to cross-check it.
Ethical score70.0/100
Value readUndervaluedas of 5 Nov 2026
Our investment reviews on this name
2026-10-25Read Distribution12.78-14.3% to today ✓Markdown gives way to Distribution
2026-10-18Read Markdown12.78-14.3% to today ✓Distribution gives way to Markdown first Markdown read since October
2026-10-11Read Distribution12.88-15.0% to today ✓Markdown gives way to Distribution after a 7% slide in 9 days
2026-10-02Read Markdown13.87-21.1% to today ✓Accumulation gives way to Markdown with volume flow in agreement
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Telkom Indonesia (Persero) Tbk PT ADR holds its Distribution at $10.95. Consolidating, no directional conviction, held for 5 days.
As held on the ledger · 2026-11-05
Phase
Distribution · caution
Quantitative state
Consolidating, no directional conviction, held for 5 days
Price at the screen
$10.95
Valuation
11.89 trailing · 9.97 forward price to earnings
Values screen
PASS· score 70.0
Beta
0.15
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
26.20%
Below 33%
Interest-bearing debt is just 26.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
0.01%
Below 33%
Cash held in interest-bearing accounts and securities is 0.0% of assets, under the one-third limit.
Pass
Receivables
15.82%
Below 49%
Money owed to the company is 15.8% of assets, under the 49% limit.
Pass
Revenue purity
1.13%
Below 5%
Only 1.1% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Telkom Indonesia (Persero) Tbk PT clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 26%, inside the ~33% line, and interest is about 1% of its income, under the ~5% line, so it passes.
Read as at 2026-11-05. It updates when the underlying figures move, and past reads are kept below.
Follow this verdict
Get an email when TLK's ethical verdict changes
Today TLK passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
Free, no account needed. Every email has a link to stop.
What the Numbers Say It Is Worth
The Fair Value Range
Our model only; only one analyst covers it, too few to cross-check it.
Our analysis reads Undervalued vs our fair value, as of 5 Nov 2026: it trades at roughly a 36% discount to our $17.00 fair value, narrow competitive moat, 6.40% revenue growth.
Fair value range in USD, drawn from the 2026-11-05 screen. The gold marker is the market price at the same screen. A 35.6% discount to the base estimate.
Reading the gap · Both our model and the analysts see meaningful upside from here.
Where our models see it going: fair-value estimate $17.00, with a range of $17.00 to $21.90, dated to the 2026-11-05 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Indonesia Telecom Lacks Growth to Justify a Bet
Picture a vast island nation where every call, payment and video stream still runs through one familiar network. Telkom Indonesia sits at the centre of that flow, yet it grows revenue at just 2 percent a year, carries a narrow moat and posts an 11 percent profit margin. The shares sit at 9.5 times forward earnings, well below our fair value, but the business offers little reason to expect that gap will close.
We pass because low single-digit growth and modest returns on equity leave little room for sustained re-rating. One analyst covers the name and offers no consensus view, which matches the thin catalyst list.
Currency swings, regulatory pressure and competition from newer data players add real downside in an emerging market. The ethical screen clears, yet the numbers still fail to excite. Analysis, not advice.
Another profit measure, before interest, tax and non-cash costs: EBITDA.
The risks · The things to watch: its business and earnings are exposed to Indonesia and to currency swings.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
TLK trades on the NYSE (the company is based in Indonesia). As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-11-06Distribution$10.95-14.3%Entry 10
The analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 14.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading oversold. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
2026-10-18Markdown · changed$12.78-0.8%Entry 8
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.8% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
The framework has shifted from markdown to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 7.1% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
2026-10-02Markdown · changed$13.87-6.3%Entry 6
The framework has shifted from accumulation to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
2026-09-14Accumulation$14.81+2.9%Entry 5
Our analysis reads accumulation. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved up 2.9% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
The framework has shifted from distribution to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 9.3% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows negative risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
2026-07-18Distribution$15.86+0.0%Entry 3
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it C, carrying a low risk profile. Technically it is sitting below its long-term trend line with momentum reading bearish. Over the past year the shares are down 8%. Our forward projection puts the odds of a 10% gain over the next month near 17%. The street (1 analysts) rates it none, with a mean price target of $24.
2026-07-03Distribution$15.86+0.0%Entry 2
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Distribution$15.86Entry 1
Our analysis reads distribution. Smart money appears to be selling into strength. Institutional holders may be rotating out. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
