TLK vs TIGO Stock Comparison

Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk and Millicom International Cellular Prices as of Oct 26, 2026 Peers: Industry group

Head to Head

5 decided of 12

Millicom International Cellular leads on 3 of the 12 questions below (Millicom International Cellular 3, Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk 2). Which ones matter depends on what you are buying for; a cheap multiple and slow growth often come together.

QuestionTLKTIGOLeader
Larger companyMarket capitalisation $11.63B $13.37B TIGO
Cheaper on earningsLower P/E, profitable companies only — 20.1x –
Cheaper on forward earningsLower price / next fiscal year consensus EPS 11.2x 20.6x TLK
Faster revenue growthRevenue growth, trailing twelve months — +29.4% –
More profitableNet margin, trailing twelve months — 9.2% –
Better return on capitalReturn on invested capital — 16.8% –
Less leveragedLower net debt / EBITDA — 2.0x –
Higher dividend yieldTrailing dividend yield 0.00% 0.00% –
Better 1-year returnPrice return, last 12 months -39.0% +65.3% TIGO
Better 5-year returnAnnualised price return, 5 years -14.3%/yr +16.7%/yr TIGO
Less volatileAnnualised volatility, 1 year 38.3% 42.0% TLK
Higher overall scoreMean of the five percentile scores vs peers — 54/100 –

Percentile Scorecard

TLKTIGO

Each axis is the mean percentile of its metrics against the company's industry group. 100 is the best in the group, 50 the middle.

Scores by Axis

AxisTLKTIGO
Valuation – 46 #27 of 49
Growth – 71 #14 of 45
Profitability – 77 #11 of 45
Financial Health 67 #17 of 49 25 #37 of 49
Shareholder Returns 94 #3 of 37 53 #18 of 37
Overall – 54
  • TLK ranked among 51 companies in Telecommunications
  • TIGO ranked among 51 companies in Telecommunications

Price Performance

Price return, split-adjusted, before dividends. Click a name to hide or show it.

Returns

PeriodTLKTIGOSPY
1 month -8.1%-15.4% -0.8%
3 months -15.1%-17.9% +3.5%
6 months -27.2%-5.4% +7.0%
Year to date -41.8%+41.3% +12.2%
1 year -39.0%+65.3% +13.0%
3 years -44.4%+411.0% +86.3%
3 years, per year -17.8%+72.3% +23.1%
5 years -53.7%+116.1% +68.6%
5 years, per year -14.3%+16.7% +11.0%
10 years -61.8%— +258.0%
10 years, per year -9.2%— +13.6%

Risk

MeasureTLKTIGOSPY
Volatility, 1Y 38.3%42.0% 12.7%
Downside volatility, 1Y 44.1%44.5% 12.7%
Beta vs S&P 500, 1Y 0.620.30 1.00
Return / volatility, 1Y -1.021.56 1.02
Max drawdown, 5Y -68.3%-71.3% -25.4%
From 52-week high -47.7%-24.9% -1.8%
52-week high $23.43$104.31 $779.14
52-week low $10.44$45.81 $631.97

Valuation History

Weekly multiples on trailing twelve-month fundamentals. Negative or extreme readings (a loss year, a collapsed denominator) are left out so the chart stays readable.

MultipleTLKTIGO
P/E now vs peer median —median 11.8x 19.7xmedian 11.8x
P/S now vs peer median —median 1.1x 1.8xmedian 1.1x
EV/EBITDA now vs peer median —median 6.8x 5.9xmedian 6.8x
P/FCF now vs peer median —median 5.7x 22.4xmedian 5.7x
P/B now vs peer median 0.0xmedian 1.3x 5.3xmedian 1.3x
PEG now vs peer median —median 0.24 0.06median 0.24

Financial History

Reported figures by fiscal period, placed on the calendar year (or quarter) each period ended in, so companies with different fiscal years line up.

Trailing twelve monthsTLKTIGO
Revenue – $7.24B
Operating income – $1.74B
Net income – $646.00M
Free cash flow – $590.00M
EPS (diluted) – $3.96
Cash & equivalents $54.58T $861.00M
Total debt $135.75T $26.42B
Shares (diluted) – 168.00M
Enterprise value -$129.22T $8.12B

All Metrics

58 metrics · best in bold

Bold marks the best reading: the lowest positive value for multiples, leverage and payout, the highest for everything else. The bar under each value is its percentile against that company's own peers. Hover a value for its rank and the peer median.

Valuation

12 metrics
MetricTLKTIGO
P/E – 19.7x
P/FCF – 22.4x
P/Operating cash flow – 22.4x
P/S – 1.8x
P/B 0.0x 5.3x
P/Tangible book 0.0x -2.1x
EV/EBITDA – 5.9x
EV/EBIT – 11.5x
EV/Revenue – 2.8x
EV/FCF – 33.9x
EV/Operating cash flow – 33.9x
PEG (3Y EPS CAGR) – 0.06

Growth

14 metrics
MetricTLKTIGO
Revenue growth (1Y) – 29.4%
Revenue CAGR (3Y) – 9.4%
Gross profit growth (1Y) – –
Gross profit CAGR (3Y) – –
Operating income growth (1Y) – 20.0%
Operating income CAGR (3Y) – 28.3%
Net income growth (1Y) – -35.3%
Net income CAGR (3Y) – 121.4%
EPS growth (1Y) – -28.2%
EPS CAGR (3Y) – 351.7%
Operating cash flow growth (1Y) – -52.2%
Operating cash flow CAGR (3Y) – -1.5%
Free cash flow growth (1Y) – -52.2%
Free cash flow CAGR (3Y) – -1.5%

Profitability

14 metrics
MetricTLKTIGO
Gross margin – –
EBITDA margin – 47.1%
Operating margin – 24.0%
Pretax margin – 13.3%
Net margin – 9.2%
FCF margin – 8.2%
Operating cash flow margin – 8.2%
Return on equity – 22.8%
Return on assets – 3.1%
Return on invested capital – 16.8%
Return on capital employed – 11.2%
Asset turnover – 0.3x
Cash conversion (OCF / net income) – 0.9x
Stock comp / revenue – 0.1%

Financial Health

11 metrics
MetricTLKTIGO
Debt / assets 18.8% 37.0%
Debt / equity 0.4x 3.1x
Net debt / EBITDA – 2.0x
Debt / FCF – 13.0x
Liabilities / assets 55.5% 87.9%
Equity / assets 44.5% 12.1%
Interest coverage – 1.9x
Current ratio 0.8x 0.5x
Quick ratio 0.6x 0.3x
Cash ratio 0.6x 0.2x
Altman Z-score – 1.06

Shareholder Returns

7 metrics
MetricTLKTIGO
Dividend yield 10.0% 4.5%
Net buyback yield – –
Shareholder yield 10.0% 4.5%
Payout ratio (earnings) – –
Payout ratio (FCF) – –
Dividend growth (1Y) – –
Dividend CAGR (3Y) – –

Analyst Estimates

Solid lines are reported fiscal-year results; dashed lines are the consensus for the years ahead. Hover a year for the analysts' high and low, and how each result compared with its estimate.

ConsensusTLKTIGO
Forward P/E 11.2xFY2026 20.6xFY2026
EPS, next fiscal year $1.09FY2026 $3.80FY2026
EPS growth, next FY +9.0%FY2026 -51.5%FY2026
EPS growth, the year after +9.2% +65.5%
Revenue, next fiscal year $8.21BFY2026 $9.17BFY2026
Revenue growth, next FY +0.3%FY2026 +57.6%FY2026
Revenue growth, the year after +11.7% -4.3%

Institutional Ownership

13F filings, quarter ended Jun 30, 2026
HoldersTLKTIGO
Held by institutions 6.3% 46.2%
Institutions holding 209 437
Change in shares held, QoQ +7.8% +7.3%
Institutions buying 101 283
Institutions selling 76 127
Buyers to sellers 1.33 2.23

Return Correlation

Daily returns, last 12 months

1.00 means two stocks move in lockstep, 0 that they move independently. Pairs below about 0.5 diversify each other.

TLKTIGO
TLK 1.00 0.16
TIGO 0.16 1.00

Add a Peer

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Frequently Asked Questions

Which is bigger, TLK and TIGO?

Millicom International Cellular (TIGO) is the largest by market capitalisation: Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk (TLK) $11.63B, Millicom International Cellular (TIGO) $13.37B.

Which stock has performed better?

Over the past year Millicom International Cellular (TIGO) returned the most: Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk (TLK) -39.0%, Millicom International Cellular (TIGO) +65.3%. Over five years, Millicom International Cellular (TIGO) compounded fastest (Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk (TLK) -14.3%/yr, Millicom International Cellular (TIGO) +16.7%/yr). Returns are price only, before dividends.

Which stock is riskier?

By one-year price volatility, Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk (TLK) has been the steadiest (Perusahaan Perseroan Persero Pt Telekomunikasi Indonesia Tbk (TLK) 38.3%, Millicom International Cellular (TIGO) 42.0%). Volatility measures how widely the price swings, not the risk of the business.

Do TLK and TIGO move together?

Their daily returns over the past year have a correlation of 0.16, a weak relationship. Holding both diversifies more than two closely linked stocks would.

Which is the better stock, TLK and TIGO?

There is no single answer; it depends on what you are buying for. On the 12 head-to-head measures on this page, Millicom International Cellular (TIGO) leads on 3. Business Quant does not give investment advice; use the comparison as a starting point for your own research.

Data from SEC filings, exchange prices and consensus estimates, via Business Quant. Percentile scores compare each company with its own peer group, so two companies' scores are each relative to different peers unless you rank against the whole market. Price returns exclude dividends. Nothing on this page is investment advice.