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Smartfren Valuation Multiples

Discover revenue and EBITDA valuation multiples for Smartfren and similar public comparables like Space42, e&, and KPN.

Smartfren Overview

About Smartfren

PT Smartfren Telecom Tbk is a telecommunications services provider. It provides CDMA and 4G LTE technology-based telecommunication services with cellular and limited mobility. The Company operates and maintains its business in one segment that is providing cellular service and telecommunication network service to subscribers. It provides services to individuals as well as businesses. Geographically, the company operates in Indonesia.


Founded

2002

HQ

Indonesia
Employees

1.7K+

Website

smartfren.com

Financials

LTM Revenue n/a

LTM EBITDA n/a

EV

$1.6B

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Smartfren Financials

Smartfren has a last 12-month revenue of n/a and a last 12-month EBITDA of n/a.

In the most recent fiscal year, Smartfren achieved revenue of $686M and an EBITDA of $295M.

Smartfren expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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Smartfren P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $700M $686M XXX XXX XXX
Gross Profit $449M $465M XXX XXX XXX
Gross Margin 64% 68% XXX XXX XXX
EBITDA $358M $295M XXX XXX XXX
EBITDA Margin 51% 43% XXX XXX XXX
Net Profit $63.9M -$6.5M XXX XXX XXX
Net Margin 9% -1% XXX XXX XXX
Net Debt $642M $722M XXX XXX XXX

Financial data powered by Morningstar, Inc.

Smartfren Stock Performance

As of April 23, 2025, Smartfren's stock price is IDR 23 (or $0).

Smartfren has current market cap of IDR 10.96T (or $659M), and EV of IDR 26.88T (or $1.6B).

See Smartfren trading valuation data

Smartfren Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$1.6B $659M XXX XXX XXX XXX n/a

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Smartfren Valuation Multiples

As of April 23, 2025, Smartfren has market cap of $659M and EV of $1.6B.

Smartfren's trades at n/a LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate Smartfren's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Smartfren Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $1.6B XXX XXX XXX
EV/Revenue 2.4x XXX XXX XXX
EV/EBITDA 5.5x XXX XXX XXX
P/E -8.5x XXX XXX XXX
P/E/Growth n/a XXX XXX XXX
EV/FCF 17.8x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Smartfren Valuation Multiples

Smartfren's NTM/LTM revenue growth is n/a

Smartfren's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.3M for the same period.

Over next 12 months, Smartfren's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate Smartfren's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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Smartfren Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth -2% XXX XXX XXX XXX
EBITDA Margin 43% XXX XXX XXX XXX
EBITDA Growth -18% XXX XXX XXX XXX
Rule of 40 (SaaS-only) n/a XXX XXX XXX XXX
Revenue per Employee $0.4M XXX XXX XXX XXX
Opex per Employee $0.3M XXX XXX XXX XXX
S&M Expenses to Revenue 14% XXX XXX XXX XXX
G&A Expenses to Revenue 1% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 65% XXX XXX XXX XXX

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Smartfren Public Comps

See public comps and valuation multiples for Telecom Service Providers and Internet Service Providers comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
XXX XXX XXX XXX XXX XXX
e& XXX XXX XXX XXX XXX XXX
Space42 XXX XXX XXX XXX XXX XXX
Jordan Telecom XXX XXX XXX XXX XXX XXX
KPN XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

Smartfren M&A and Investment Activity

Smartfren acquired  XXX companies to date.

Last acquisition by Smartfren was  XXXXXXXX, XXXXX XXXXX XXXXXX . Smartfren acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by Smartfren

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About Smartfren

When was Smartfren founded? Smartfren was founded in 2002.
Where is Smartfren headquartered? Smartfren is headquartered in Indonesia.
How many employees does Smartfren have? As of today, Smartfren has 1.7K+ employees.
Is Smartfren publicy listed? Yes, Smartfren is a public company listed on IDX.
What is the stock symbol of Smartfren? Smartfren trades under FREN ticker.
When did Smartfren go public? Smartfren went public in 2006.
Who are competitors of Smartfren? Similar companies to Smartfren include e.g. , e&, Space42, Jordan Telecom.
What is the current market cap of Smartfren? Smartfren's current market cap is $659M
What is the current revenue growth of Smartfren? Smartfren revenue growth between 2023 and 2024 was -2%.
Is Smartfren profitable? Yes, Smartfren is EBITDA-positive (as of the last 12 months).

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