BCE INC. vs PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK, two Telecom stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Both prices assume nothing much happens, which for telecoms is the base case: BCE at a headline 4.6 times earnings (a multiple that low with a 26.6% net margin reads as a one-time gain distorting the year), Telkom Indonesia at an undistorted 14.1 times. Telkom's economics are the genuinely strong ones, a 28.7% operating margin, an 18.9% return on equity, and a 15.9% free-cash yield, emerging-market growth priced at developed-market boredom. BCE's 11.4% free-cash yield is real even where its earnings line is noisy. Two dividend machines on opposite sides of the planet, both priced for stasis; the Indonesian one is being paid more to stand still.
Comparison updated 2026-07-10.
| Metric | BCE | TLK |
|---|---|---|
| Price | $22.92 | $14.08 |
| Market cap | $21.3B | $13.9B |
| Sector | Telecom | Telecom |
| Stage | Mature | Mature |
| P/E | 4.6 | 14.1 |
| P/B | 1.24 | 1.38 |
| P/S | 1.18 | 1.50 |
| EV/EBITDA | 5.5 | 2.5 |
| Revenue growth | +1.1% | -0.9% |
| Operating margin | — | 28.7% |
| Net margin | 26.6% | 20.5% |
| Return on equity | 27.9% | 18.9% |
| Return on assets | 8.1% | 10.3% |
| Return on invested capital | — | 20.8% |
| FCF yield | 11.4% | 15.8% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.58 | 0.82 |
| Altman Z (solvency) | 0.47 | 2.53 |
| Piotroski F (quality) | 7 / 9 | 6 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.