PT Telkom Indonesia (Persero) Tbk

Latest Results (31.08.2026):

PT Telkom Indonesia (Persero) Tbk — Q4 2025 (year ended December 31, 2025): the company reported a slight revenue decline versus 2024 alongside lower EBITDA and operating profit, producing reduced net profit for the year and earnings per share. Total assets and equity both fell versus 2024, liabilities were broadly stable, and capital expenditure stayed roughly flat. Key profitability and leverage ratios weakened in 2025 compared with 2024 according to the company’s reported figures.

Revenues and expenses

Total revenues were 146.742 in 2025 versus 149.967 in 2024 (down). Total expenses increased to 112.094 from 107.581, pressuring margins and profitability.

Profitability

EBITDA declined to 72.240 (2025) from 75.579 (2024). Operating profit fell sharply to 34.648 from 42.991. Profit for the year was 24.458 (down from 30.743), and profit attributable to owners decreased to 17.814 from 23.649. Net income per share fell to 179,83 from 238,7.

Balance sheet

Total assets decreased to 287.759 (2025) from 299.675 (2024). Total liabilities were broadly unchanged at 137.222 versus 137.185, while equity attributable to owners declined to 130.685 from 135.744.

Capital expenditure and working capital

Capex was essentially flat at 24.577 in 2025 versus 24.449 in 2024. Net working capital improved to a positive 12.182 in 2025 (13.687 in 2024), after prior years of negative working capital.

Financial ratios and leverage

ROA fell to 8,50% (from 10,3%), and ROE fell to 16,25% (from 18,9%). Operating profit margin declined to 23,61% (from 28,7%). EBITDA to interest coverage eased to 13,88x (from 14,4x). The report shows total liabilities to equity at 91,15% (up from 84,4%) and total liabilities to assets at 47,69% (from 45,8%). The reported debt-to-equity figure for 2025 is 49,76 (versus 0,5 for 2024) as presented in the company table.

Notes / observations from the report

Overall the company reported lower top-line and operating profitability in 2025 versus 2024, with stable capex and broadly unchanged liabilities. The table formatting includes some unusual/ambiguous items (for example the debt-to-equity line for 2024 vs 2025), so users should consult the full company disclosures for unit definitions and any footnotes before making decisions.