TLK  P.t. Telekomunikasi Indonesia...

Exchange

NYSE

Sector

Public Utilities

Industry

Telecommunications Equipment

Market Cap.

29.28B

Vuru Grade

54.69/100

Current Price

$29.56
-0.48 (-1.60%)

Growth Price

$23.29
Overvalued by 21.21%

Stability Price

$3.92
Overvalued by 86.73%

Company Metrics

  • P/E 17.39
  • P/S 3.16
  • P/B 4.62
  • EPS 1.7
  • Cash ROIC 18.53%
  • Cash Ratio 0.79
  • Dividend 0.73 / 2.43%
  • Avg. Vol. 269,060.00
  • Shares 990.53M
  • Market Cap. 29.28B

Company Description

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk provides telecommunication and network services worldwide. The company's Fixed Wireline segment offers local, domestic long-distance, international telephone services, and other telecommunications services, including leased lines, telex, transponder, satellite, and very small aperture terminal (VSAT), as well as ancillary services. Its... more


Download 10 Years of Financial Statements:
Income Statement   Balance Sheet   Cash Flow

News

Contour Asset Management Has Cut Position in Logmein (LOGM) by $11.57 Million ...
San Times - 1 hour ago
Contour Asset Management Llc decreased its stake in Logmein Inc (LOGM) by 14.74% based on its latest 2017Q2 regulatory filing with the SEC.
Oldfield Partners Llp Lifted Its Telekomunikasi Indonesia (TLK) Stake; Ardmore ...
MoneyMakingArticles - 14 hours ago
Telekomnks Indn Prsr Tbk Prshn Prsrn-ADR (NYSE:TLK) has risen 27.32% since November 21, 2016 and is uptrending. It has outperformed by 10.62% the S&P500.
Leuthold Group Trimmed By $318417 Its Telekomunikasi Indonesia Ads (TLK ...
MoneyMakingArticles - 19 hours ago
Telekomnks Indn Prsr Tbk Prshn Prsrn-ADR (NYSE:TLK) has risen 27.32% since November 21, 2016 and is uptrending. It has outperformed by 10.62% the S&P500.
Sensato Investors Llc Decreased PT Telekomunikasi Indonesia (TLK) Stake By $12 ...
UtahHerald.com - Nov 18, 2017
Sensato Investors Llc decreased P T Telekomunikasi Indonesia (NYSE:TLK) stake by 96.19% reported in 2017Q3 SEC filing. Sensato Investors Llc sold 368,094 shares as P T Telekomunikasi Indonesia (NYSE:TLK)'s stock rose 18.87%.
ART- Advisors Lifted Its PT Telekomunikasi Indonesia (TLK) Position; Csg ...
UtahHerald.com - Nov 18, 2017
Telekomnks Indn Prsr Tbk Prshn Prsrn-ADR (NYSE:TLK) has risen 27.32% since November 18, 2016 and is uptrending. It has outperformed by 10.62% the S&P500.
Wcm Investment Management Has Lowered Its PT Telekomunikasi Indonesia (TLK ...
NormanObserver.com - Nov 20, 2017
Intercontinental Exchange, Inc. is an operator of regulated exchanges, clearing houses and listings venues. The company has market cap of $38.96 billion.
Schafer Cullen Capital Management Has Cut Telekomunikasi Indonesia Perse (TLK ...
UtahHerald.com - Nov 17, 2017
Farallon Capital Management Llc increased Hd Supply Hldgs Inc (HDS) stake by 16.05% reported in 2017Q2 SEC filing. Farallon Capital Management Llc acquired 850,562 shares as Hd Supply Hldgs Inc (HDS)'s stock declined 3.14%.
Oldfield Partners Llp Increased Telekomunikasi Indonesia (TLK) Holding ...
HuronReport - Nov 16, 2017
Opaleye Management Inc increased Foamix Pharmaceuticals Ltd (FOMX) stake by 127% reported in 2017Q2 SEC filing. Opaleye Management Inc acquired 635,000 shares as Foamix Pharmaceuticals Ltd (FOMX)'s stock declined 56.35%.
Wcm Investment Management Cut Position in PT Telekomunikasi Indonesia (TLK) by ...
FlintDaily.com - Nov 18, 2017
Phill Gross decreased its stake in Biogen Inc (BIIB) by 3.48% based on its latest 2017Q2 regulatory filing with the SEC. Adage Capital Partners Gp Llc sold 9,700 shares as the company's stock declined 13.45% while stock markets rallied.
Matthews International Capital Management Has Cut By $316800 Its PT ...
Key Gazette - Nov 15, 2017
Matthews International Capital Management Llc decreased P T Telekomunikasi Indonesia (TLK) stake by 0.35% reported in 2017Q2 SEC filing.
Growth Rate Assumed by Market

We did a reverse valuation to calculate the growth rate the market is assuming for TLK to be considered fairly valued at its current market price. It's useful to compare this to the growth rate we're assuming for the Growth Price.

Future Free Cash Flow Growth Rate

This is the annual growth rate we've applied to calculate TLK's Free Cash Flow for the next 10 years. To calculate it, we looked at several time periods of the last 10 years. Feel free to adjust it, but we limit the initial growth rate to 20% and slow it down over the years. Otherwise, long-term sustainability issues come into play.

Discount Rate

The discount rate is the annual rate of return an investor requires to take the risk of investing in a single stock. To account for that risk, this should be above 8-10%, as this is the avg. annual rate of return for the S&P500 over the past 100 years.

$29.56 Current Price

$23.29 Growth Price (DCF)

Overvalued by 21.21%


Growth Rate Assumed by Market: 9.34%


Future Free Cash Flow Growth Rate: 0.0%


Discount Rate: 15.0%


Show Free Cash Flow numbers

$3.92 Stability Price (EPV)

Overvalued by 86.73%


Discount Rate: 15.0%

$0.01 Book Price

Overvalued by 99.98%


Excellent Cash Return on Invested Capital over the past 5 years

TLK has efficiently invested its financial resources in buildings, projects, and equipment, resulting in strong returns. Annual Reports can be useful in identifying the cause of one-time events and future sustainability.

TLK has created $18.53 of cash for every $100 invested.
Figures in IDR. Fiscal year ends in December
20122013201420152016
Free Cash Flow 19.28T 15.52T 9.80T 15.73T 19.35T
divided by
Invested Capital 68.68T 78.09T 88.83T 99.58T 108.34T
Cash ROIC 28.08% 19.87% 11.03% 15.80% 17.86%

Excellent Return on Equity over the past 5 years

Over the past 5 years, TLK has generated strong profits with money shareholders have invested. This is considered one of the best indicators of quality management. Beware of extremely high Return on Equity (> 50%) as this is often unsustainable.

TLK has generated $34.03 of Earnings for every $100 of Shareholders' Equity.
Figures in IDR. Fiscal year ends in December
20122013201420152016
Net Income 18.38T 20.13T 21.24T 23.27T 29.15T
divided by
Stockholders' Equity 46.70T 59.75T 67.65T 74.93T 84.16T
Return on Equity 39.37% 33.69% 31.40% 31.05% 34.63%

Good Business Performance over the past 10 years

It's likely TLK has been unable to maintain profitability in tough economic times, making it a somewhat cyclical business. The other possibility is TLK has expended significant capital on items such as property, plant and equipment in specific years. Look for correlations.

TLK has created positive free cash flow for 7 or 8 of the past 10 years.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Free Cash Flow 12.67T - - 12.17T 15.92T 19.28T 15.52T 9.80T 15.73T 19.35T

Weak Balance Sheet

TLK's financial position is not ideal. The key is to check whether TLK is using debt to fuel its growth and the sustainability of that tendency. Highly capital intensive businesses (see Economic Moat) follow this route, which can deeply impact the future prospects of the business.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Cash 10.38T 7.16T 8.16T 9.49T 10.00T 17.43T 21.27T 20.47T 30.94T 31.24T
Current Assets 15.98T 14.62T 16.19T 18.73T 21.40T 27.97T 33.08T 34.29T 47.91T 47.70T
Total Assets 82.05T 91.26T 97.56T 99.76T 102.72T 110.21T 127.80T 141.62T 165.93T 179.34T
Current Liabilities 20.67T 27.00T 26.72T 20.47T 22.19T 24.11T 28.44T 32.32T 35.41T 39.76T
Total Liabilities 48.30T 56.94T 58.57T 55.34T 57.01T 63.51T 68.04T 73.97T 90.99T 95.18T
Stockholder' Equity 33.74T 34.31T 38.99T 44.42T 45.71T 46.70T 59.75T 67.65T 74.93T 84.16T
Current Ratio 0.77 0.54 0.61 0.91 0.96 1.16 1.16 1.06 1.35 1.20
TL-to-TA 0.59 0.62 0.60 0.55 0.56 0.58 0.53 0.52 0.55 0.53

Low or No Reinvestment of Profits over the past 10 years

TLK has either been retaining a small amount of their earnings or has done so inconsistently. A lack of consistency could be due to TLK operating at a loss or them having such a strong economic moat they feel comfortable spending profits on growth. Be wary of future prospects and if applicable, inspect the moat's sustainability.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Retained Earnings 28.91T 31.50T 36.47T - 45.87T 48.57T 58.48T 63.80T 70.89T 77.03T
Retained Earnings Growth - 8.96% 15.77% -100.00% - 5.90% 20.39% 9.10% 11.12% 8.66%

Competitive Advantage over the past 10 years

TLK likely has a competitive advantage which prevents other companies from entering or competing in their industry. This could be strong branding, the ability to keep costs low, or some other characteristic that is hard to replicate. Look at future prospects to determine its sustainability.

$20.73 of every $100 of Revenue have been pure profit, on average over the past 10 years.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Net Income 12.85T 10.62T 11.33T 11.54T 10.85T 18.38T 20.13T 21.24T 23.27T 29.15T
divided by
Revenue 59.43T 60.69T 67.53T 68.63T 71.90T 77.13T 82.97T 89.70T 102.47T 116.33T
Net Profit Margin 21.63% 17.50% 16.78% 16.81% 15.09% 23.84% 24.26% 23.68% 22.71% 25.06%

Strong Pricing Power over the past 10 years

TLK has maintained substantial gross margins, suggesting that they have been able to set prices without consideration of the cost of goods sold. This potentially leaves flexibility in inflationary environments to raise prices on consumers and maintain profitability.

$79.02 of every $100 worth of sales have been Gross Profit, on average over the past 10 years.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Gross Profit 49.84T 48.47T 50.01T 52.58T 71.90T 60.33T 63.64T 67.41T 74.35T 85.07T
divided by
Revenue 59.43T 60.69T 67.53T 68.63T 71.90T 77.13T 82.97T 89.70T 102.47T 116.33T
Gross Margin 83.87% 79.87% 74.07% 76.62% 100.00% 78.22% 76.70% 75.15% 72.56% 73.13%

High Capital Intensity over the past 10 years

TLK spends large amounts of capital buying new equipment or investing in new facilities to stay competitive. Over the long term, those costs may have to be fuelled by debt. Look at the growth of Shareholders' Equity to see if this strategy is having a positive or negative impact.

110.66% of Profits are being spent on Capital Expenditures, like Property, Plant, & Equipment, required to run the business.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Capital Expenditure 15.05T - - 15.59T 14.54T 8.66T 21.06T 27.93T 27.94T 27.89T
divided by
Net Income 12.85T 10.62T 11.33T 11.54T 10.85T 18.38T 20.13T 21.24T 23.27T 29.15T
Capital Expenditure Ratio 117.11% - - 135.16% 134.06% 47.10% 104.60% 131.53% 120.06% 95.66%

Strong Dividend History over the past 10 years

TLK has consistently distributed a dividend for the past 7 years. This suggests TLK is established and will likely continue to distribute its dividend for the foreseeable future.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Dividend Paid 6.05T - - 9.04T 9.10T 10.73T 13.04T 15.43T 16.61T 11.21T
divided by
Shares Outstanding 498.97M 493.72M 491.74M 491.74M 489.80M 2.40B 2.41B 488.48M 490.88M 986.39M
Dividend Paid Per Share 1.34 - - 2.03 2.05 0.49 0.60 3.49 3.74 1.26
Price at Year End 36.20 21.97 37.23 34.12 30.74 37.17 35.58 45.39 44.49 29.16
Dividend Yield 3.70% - - 5.96% 6.68% 1.33% 1.68% 7.69% 8.41% 4.31%

History of Stock Buybacks over the past 10 years

TLK has some history of delivering increased value for shareholders in the form of stock buybacks. These have helped improve financial metrics and increase each shareholders' relative ownership stake in the company, due to fewer shares outstanding and holding the same number of shares.
Figures in IDR. Fiscal year ends in December
2007200820092010201120122013201420152016
Shares Outstanding 498.97M 493.72M 491.74M 491.74M 489.80M 2.40B 2.41B 488.48M 490.88M 986.39M
Stock Bought Back - 1.06% 0.40% -0.00% 0.40% -79.59% -0.36% 393.16% -0.49% -50.23%
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