Elevator Pitch
Indonesia-listed telecommunications services company PT Indosat Tbk (PTITF) [ISAT:IJ] is valued by the market at an undemanding 5.4 times consensus forward FY2019 EV/EBITDA and 5.0 times consensus forward FY2020 EV/EBITDA. This is slightly higher than the stock's five-year historical mean forward EV/EBITDA of approximately 4.8 times.
The fact that Indosat's data revenue growth was at a slower pace compared with its peers suggests that it is critical for the company to continue investing in improving its network quality. A recent survey by OpenSignal outlined below shows that the company is still