PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA TBK vs TELUS CORP, two Telecom stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
Telkom Indonesia is a national monopoly compounding an archipelago's connectivity at a 28.7% operating margin; Telus is a Canadian oligopolist diversifying into health and agriculture ventures at 11.5%. The incumbent economics dominate every line: returns on equity of 18.9% against 4.7%, net margins of 20.5% against 3.8%, free-cash yields of 15.9% against 9.3%. The multiples run backwards from the table, 20.7 times for Telus against 14.1 for Telkom, a six-turn premium for the developed market and the venture story. Both carry no headline leverage. The pair is a clean jurisdiction test: the stronger operator at the discount, the weaker at the premium, and geography the only variable that explains it.
Comparison updated 2026-07-10.
| Metric | TLK | TU |
|---|---|---|
| Price | $14.08 | $11.10 |
| Market cap | $13.9B | $17.0B |
| Sector | Telecom | Telecom |
| Stage | Mature | Mature |
| Implied growth (priced in) | — | +5.8% |
| P/E | 14.1 | 20.7 |
| P/B | 1.38 | 1.39 |
| P/S | 1.50 | 1.13 |
| EV/EBITDA | 2.5 | 8.7 |
| Revenue growth | -0.9% | +4.5% |
| Operating margin | 28.7% | 11.5% |
| Net margin | 20.5% | 3.8% |
| Return on equity | 18.9% | 4.7% |
| Return on assets | 10.3% | 1.3% |
| Return on invested capital | 20.8% | 9.2% |
| FCF yield | 15.8% | 9.3% |
| Debt / equity | 0.00 | 0.00 |
| Current ratio | 0.82 | 0.86 |
| Altman Z (solvency) | 2.53 | 0.77 |
| Piotroski F (quality) | 6 / 9 | 7 / 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.