TLK Cash Flow Statement: Free Cash Flow & Capex

Where TLK’s cash came from and went, 2025

December 31, 2025 · IDR

Cash from operations: IDR 63.84T
Capital expenditures: IDR 25.77T
Free cash flow: IDR 38.07T
Returned to shareholders: IDR 21.08T
Change in cash: IDR 323.00B

Cash from operations

IDR 63.84T

Capital expenditures

−IDR 25.77T

Investments (net)

+IDR 561.00B

Acquisitions & other

−IDR 888.00B

Dividends

−IDR 21.05T

Net borrowing (repayment)

−IDR 9.50T

Shares issued

+IDR 270.00B

Other financing

−IDR 7.44T

Currency & other

+IDR 289.00B

Change in cash

IDR 323.00B

Drawn to scale: where the cash came from and how it was used. Hover for values.

TLK operating cash flow, capex and free cash flow

Operating cash flowCapital expendituresFree cash flowFCF margin (right axis)

TLK cash flow trends, 2016–2025

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk cash flow trends
Metric	Then	Latest	Change
Operating cash flow	IDR 47.23T2016	IDR 63.84T2025	+3.4%/yr
Capital expenditures	IDR 28.12T2016	IDR 25.77T2025	−1.0%/yr
Free cash flow	IDR 19.11T2016	IDR 38.07T2025	+8.0%/yr
Free cash flow margin	16.4%2016	25.9%2025	+9.5 pts
Operating cash flow / net income	2.442016	3.552025	+1.11
Dividends paid	IDR 11.21T2016	IDR 21.05T2025	+7.2%/yr
Share buybacks (net)	IDR 02016	IDR 30.00B2025	—
Capex / revenue	24.2%2016	17.6%2025	−6.6 pts

Change is the average annual growth (CAGR) or the difference between the first and latest year.

TLK cash flow statement in IDR

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk annual cash flow statement
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Operating activities
Net income	IDR 17.97T	IDR 23.65T	IDR 24.43T	IDR 27.68T	IDR 33.95T	IDR 21.05T	IDR 19.07T	IDR 18.03T	IDR 22.14T	IDR 19.35T
Depreciation & amortization	IDR 37.36T	IDR 35.52T	IDR 32.57T	IDR 33.26T	IDR 31.82T	IDR 28.93T	IDR 27.20T	IDR 21.21T	IDR 20.48T	IDR 18.56T
Change in working capital	—	−IDR 19.86T	−IDR 19.66T	−IDR 17.24T	−IDR 16.82T	−IDR 16.62T	IDR 803.00B	−IDR 406.0M	−IDR 428.0M	−IDR 317.0M
Other non-cash items	IDR 8.51T	IDR 22.30T	IDR 23.24T	IDR 17.24T	IDR 19.41T	IDR 31.96T	IDR 7.87T	IDR 6.43T	IDR 6.78T	IDR 9.32T
Cash from operating activities	IDR 63.84T	IDR 61.60T	IDR 60.58T	IDR 60.94T	IDR 68.35T	IDR 65.32T	IDR 54.95T	IDR 45.67T	IDR 49.41T	IDR 47.23T
Investing activities
Capital expenditures	−IDR 25.77T	−IDR 29.66T	−IDR 33.60T	−IDR 38.40T	−IDR 32.56T	−IDR 31.94T	−IDR 37.23T	−IDR 31.56T	−IDR 32.78T	−IDR 28.12T
Investments (net)	IDR 561.00B	−IDR 29.46T	−IDR 38.62T	−IDR 39.25T	−IDR 37.70T	−IDR 3.63T	−IDR 35.88T	−IDR 35.09T	−IDR 33.01T	−IDR 27.56T
Acquisitions & other investing	−IDR 888.00B	IDR 29.66T	IDR 35.31T	IDR 38.40T	IDR 32.56T	IDR 470.00B	IDR 37.31T	IDR 31.56T	IDR 32.78T	IDR 28.12T
Cash from investing activities	−IDR 26.09T	−IDR 29.46T	−IDR 36.91T	−IDR 39.25T	−IDR 37.70T	−IDR 35.10T	−IDR 35.79T	−IDR 35.09T	−IDR 33.01T	−IDR 27.56T
Financing activities
Dividends paid	−IDR 21.05T	−IDR 17.68T	−IDR 16.60T	−IDR 14.86T	−IDR 16.64T	−IDR 15.26T	−IDR 16.23T	−IDR 16.61T	−IDR 11.63T	−IDR 11.21T
Share repurchases & issuance (net)	−IDR 30.00B	−IDR 704.00B	−IDR 31.00B	−IDR 681.00B	IDR 46.61T	—	—	IDR 35.36T	IDR 12.12T	IDR 7.48T
Net borrowing (repayment)	−IDR 9.50T	−IDR 2.34T	−IDR 3.09T	−IDR 15.37T	−IDR 1.56T	−IDR 4.87T	IDR 7.54T	IDR 8.25T	IDR 2.88T	−IDR 3.08T
Shares issued	IDR 270.00B	IDR 322.00B	IDR 2.71T	IDR 45.00B	IDR 18.46T	IDR 0	IDR 0	IDR 34.00B	IDR 0	IDR 0
Other financing	−IDR 7.44T	−IDR 7.10T	−IDR 9.55T	−IDR 9.97T	−IDR 59.85T	−IDR 7.78T	−IDR 9.56T	−IDR 45.50T	−IDR 24.42T	−IDR 11.10T
Cash from financing activities	−IDR 37.74T	−IDR 27.50T	−IDR 26.57T	−IDR 40.84T	−IDR 12.99T	−IDR 27.91T	−IDR 18.25T	−IDR 18.46T	−IDR 21.05T	−IDR 17.91T
Summary
Net change in cash	IDR 323.00B	IDR 4.90T	−IDR 2.94T	−IDR 6.36T	IDR 17.72T	IDR 2.35T	IDR 803.00B	−IDR 7.71T	−IDR 4.62T	IDR 1.65T
Cash at end of period	IDR 34.23T	IDR 33.91T	IDR 29.01T	IDR 31.95T	IDR 38.31T	IDR 20.59T	IDR 18.24T	IDR 17.44T	IDR 25.14T	IDR 29.77T
Free cash flow	IDR 38.07T	IDR 31.94T	IDR 26.98T	IDR 22.54T	IDR 35.80T	IDR 33.38T	IDR 17.72T	IDR 14.11T	IDR 16.62T	IDR 19.11T
Free cash flow margin	25.9%	21.3%	18.1%	15.3%	25.0%	24.5%	13.1%	10.8%	13.0%	16.4%
Capex / revenue	17.6%	19.8%	22.5%	26.1%	22.7%	23.4%	27.5%	24.1%	25.6%	24.2%
Operating cash flow / net income	3.55	2.60	2.48	2.20	2.01	3.10	2.88	2.53	2.23	2.44

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk quarterly cash flow statement
	Jun '26	Mar '26	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Operating activities
Net income	IDR 6.28T	IDR 2.03T	IDR 4.81T	IDR 5.17T	IDR 5.97T	IDR 5.97T	IDR 5.91T	IDR 5.71T	IDR 6.05T	IDR 4.93T	IDR 6.74T
Depreciation & amortization	IDR 8.76T	IDR 8.88T	IDR 8.87T	IDR 8.14T	IDR 8.29T	—	IDR 8.12T	IDR 8.04T	IDR 8.09T	IDR 8.49T	IDR 7.45T
Change in working capital	—	—	−IDR 12.68T	−IDR 9.52T	−IDR 3.42T	−IDR 19.86T	−IDR 15.45T	—	—	—	−IDR 15.51T
Other non-cash items	IDR 2.53T	IDR 6.38T	IDR 16.04T	IDR 12.01T	IDR 5.93T	IDR 75.49T	IDR 17.68T	IDR 105.00B	IDR 1.69T	IDR 4.39T	IDR 18.47T
Cash from operating activities	IDR 17.57T	IDR 17.29T	IDR 17.03T	IDR 15.80T	IDR 16.78T	IDR 61.60T	IDR 16.27T	IDR 13.86T	IDR 15.83T	IDR 17.80T	IDR 17.16T
Investing activities
Capital expenditures	−IDR 5.49T	−IDR 5.00T	−IDR 6.80T	−IDR 5.71T	−IDR 5.10T	−IDR 8.46T	−IDR 6.18T	−IDR 6.83T	−IDR 5.47T	−IDR 10.87T	−IDR 8.71T
Investments (net)	−IDR 264.00B	−IDR 10.00B	−IDR 7.09T	−IDR 4.94T	−IDR 6.52T	−IDR 7.94T	−IDR 7.31T	−IDR 8.15T	−IDR 6.05T	−IDR 10.65T	−IDR 8.59T
Acquisitions & other investing	IDR 39.00B	−IDR 108.00B	IDR 6.80T	IDR 5.71T	IDR 5.10T	−IDR 13.05T	IDR 6.18T	IDR 6.83T	IDR 5.47T	IDR 10.87T	−IDR 8.96T
Cash from investing activities	−IDR 5.71T	−IDR 5.12T	−IDR 7.09T	−IDR 4.94T	−IDR 6.52T	−IDR 29.46T	−IDR 7.31T	−IDR 8.15T	−IDR 6.05T	−IDR 10.65T	−IDR 26.26T
Financing activities
Dividends paid	—	−IDR 60.79B	−IDR 21.05T	−IDR 21.05T	—	−IDR 17.68T	−IDR 17.68T	−IDR 17.68T	−IDR 1.00B	−IDR 1.00B	−IDR 16.60T
Share repurchases & issuance (net)	−IDR 866.00B	−IDR 614.00B	−IDR 5.00B	−IDR 5.00B	−IDR 233.00B	−IDR 704.00B	−IDR 471.00B	−IDR 190.00B	−IDR 78.00B	IDR 18.00B	IDR 11.15T
Net borrowing (repayment)	IDR 9.95T	−IDR 8.17T	−IDR 9.66T	IDR 14.28T	−IDR 9.92T	IDR 1.24T	−IDR 8.94T	—	—	—	−IDR 7.19T
Shares issued	IDR 0	IDR 0	IDR 0	IDR 0	IDR 0	IDR 322.00B	IDR 0	IDR 0	IDR 0	IDR 248.00B	IDR 2.71T
Other financing	−IDR 4.42T	−IDR 176.21B	IDR 18.92T	−IDR 5.22T	IDR 233.00B	IDR 18.15T	IDR 17.54T	IDR 8.04T	−IDR 9.36T	−IDR 4.31T	−IDR 13.38T
Cash from financing activities	IDR 4.66T	−IDR 9.02T	−IDR 11.79T	−IDR 12.00T	−IDR 9.92T	IDR 1.32T	−IDR 9.55T	−IDR 9.84T	−IDR 9.44T	−IDR 4.05T	−IDR 23.32T
Summary
Net change in cash	IDR 17.03T	IDR 3.32T	−IDR 1.63T	−IDR 1.23T	IDR 505.00B	IDR 9.03T	−IDR 918.00B	−IDR 4.06T	IDR 514.00B	IDR 3.10T	−IDR 14.62T
Cash at end of period	IDR 54.58T	IDR 37.55T	IDR 31.55T	IDR 33.19T	IDR 34.41T	IDR 33.91T	IDR 24.54T	IDR 25.46T	IDR 29.52T	IDR 29.01T	IDR 25.91T
Free cash flow	IDR 12.08T	IDR 12.29T	IDR 10.23T	IDR 10.09T	IDR 11.68T	IDR 7.19T	IDR 10.08T	IDR 7.02T	IDR 10.36T	IDR 6.93T	IDR 8.45T
Free cash flow margin	15.9%	33.0%	28.0%	27.7%	31.9%	19.0%	27.3%	18.5%	27.7%	18.3%	22.4%
Capex / revenue	7.2%	13.5%	18.6%	15.7%	13.9%	22.4%	16.7%	18.0%	14.6%	28.6%	23.1%
Operating cash flow / net income	2.80	8.52	3.54	3.06	2.81	10.31	2.75	2.43	2.62	3.61	2.54

Negative numbers are cash paid out. Quarterly columns are labeled by the month the quarter ended. Figures in IDR as reported; data from EODHD.

TLK cash generation

In fiscal 2025 (ended December 31, 2025), Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk generated IDR 63.84 trillion of cash from operations (up 3.6%) and spent IDR 25.77 trillion on capital expenditures, leaving free cash flow of IDR 38.07 trillion, 25.9% of revenue. It returned IDR 21.08 trillion to shareholders through dividends (IDR 21.05 trillion) and net share buybacks (IDR 30.0 billion). Cash and equivalents rose by IDR 323.0 billion over the year.

Related: TLK income statement, TLK balance sheet, TLK dividend history. See the TLK stock overview for the latest quote and news.

TLK cash flow FAQ

What is Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk's free cash flow?

Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk's free cash flow was IDR 38.07 trillion in fiscal 2025: IDR 63.84 trillion of operating cash flow minus IDR 25.77 trillion of capital expenditures It was IDR 31.94 trillion a year earlier..

How much cash does Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk generate from operations?

Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk generated IDR 63.84 trillion of cash from operating activities in fiscal 2025, 3.55 times its net income of IDR 17.97 trillion.

How much does Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk spend on capital expenditures?

Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk spent IDR 25.77 trillion on capital expenditures in fiscal 2025, 17.6% of revenue, compared with IDR 29.66 trillion the year before.

How much stock does Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk buy back?

Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk spent IDR 30.0 billion on net share repurchases in fiscal 2025.

How much does Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk pay in dividends?

Perusahaan Perseroan PT Telekomunikasi Indonesia Tbk paid IDR 21.05 trillion in dividends in fiscal 2025, 55.3% of free cash flow.

Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk (TLK) Cash Flow Statement

Where TLK’s cash came from and went, 2025

TLK operating cash flow, capex and free cash flow

TLK cash flow trends, 2016–2025

TLK cash flow by activity

TLK net income vs operating cash flow

TLK cash flow statement in IDR

TLK cash generation

TLK cash flow FAQ

Telecom Services: cash flow