PT Indoritel Makmur Internasional Tbk (ISX:DNET) Operating Income: Rp296,237 Mil (TTM As of Mar. 2026)

What is PT Indoritel Makmur Internasional Tbk Operating Income?

PT Indoritel Makmur Internasional Tbk ISX:DNET 84 Operating Income is Rp296,237 Mil as of Mar. 2026. GuruFocus rates ISX:DNET with a GF Score™ of 84/100 and a GF Value™ of Rp9,996.77 (Fairly Valued). The stock has 5 warning signs investors should review.

PT Indoritel Makmur Internasional Tbk's Operating Income for the three months ended in Mar. 2026 was Rp60,633 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was Rp296,237 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. PT Indoritel Makmur Internasional Tbk's Operating Income for the three months ended in Mar. 2026 was Rp60,633 Mil. PT Indoritel Makmur Internasional Tbk's Revenue for the three months ended in Mar. 2026 was Rp425,022 Mil. Therefore, PT Indoritel Makmur Internasional Tbk's Operating Margin % for the quarter that ended in Mar. 2026 was 14.27%.

Good Sign:

PT Indoritel Makmur Internasional Tbk operating margin is expanding. Margin expansion is usually a good sign.

PT Indoritel Makmur Internasional Tbk's 5-Year average Growth Rate for Operating Margin % was 6.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PT Indoritel Makmur Internasional Tbk's annualized ROC % for the quarter that ended in Mar. 2026 was 1.02%. PT Indoritel Makmur Internasional Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 34.92%.

PT Indoritel Makmur Internasional Tbk (ISX:DNET) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

PT Indoritel Makmur Internasional Tbk's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

	ROC % (Q: Mar. 2026 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	242532 * ( 1 - 5.28% )	/	( (22099916	+	22826365)	/ 2 )
=	229726.3104	/	22463140.5
=	1.02 %

where

	Invested Capital		(Q: Dec. 2025 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	23700330	-	907109	-	( 1638688	-	max(0, 1853471	-	2546776	+	1638688	))
=	22099916

	Invested Capital		(Q: Mar. 2026 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	23728887	-	850410	-	( 1110768	-	max(0, 1975537	-	2027649	+	1110768	))
=	22826365

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

PT Indoritel Makmur Internasional Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2026 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1479292	/	( ( (4195944 + max(-140130, 0))	+	(4275327 + max(-77272, 0)) )	/	2 )
=	1479292	/	( ( 4195944	+	4275327 )	/	2 )
=	1479292	/	4235635.5
=	34.92 %

where Working Capital is:

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(751312	+	0	+	149839)	-	(907109	+	0	+	134172)
=	-140130

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(772257	+	0	+	140076)	-	(850410	+	0	+	139195)
=	-77272

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

PT Indoritel Makmur Internasional Tbk's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2026 )	/	Revenue (Q: Mar. 2026 )
	=	60633	/	425022
	=	14.27 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

PT Indoritel Makmur Internasional Tbk Operating Income Related Terms

PT Indoritel Makmur Internasional Tbk Operating Income Historical Data

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The historical data trend for PT Indoritel Makmur Internasional Tbk's Operating Income can be seen below:

PT Indoritel Makmur Internasional Tbk Operating Income Chart

PT Indoritel Makmur Internasional Tbk Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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256,995.00

374,845.00

455,776.00

252,136.00

291,512.00

PT Indoritel Makmur Internasional Tbk Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															55,908.00	131,576.00	74,327.00	29,701.00	60,633.00

84GF Score

PT Indoritel Makmur Internasional Tbk ISX:DNET

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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PT Indoritel Makmur Internasional Tbk Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was Rp296,237 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of Rp296,237 Mil mean?

PT Indoritel Makmur Internasional Tbk (ISX:DNET) has a Operating Income of Rp296,237 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on PT Indoritel Makmur Internasional Tbk and its competitors.

Is PT Indoritel Makmur Internasional Tbk's Operating Income too high?

PT Indoritel Makmur Internasional Tbk's current Operating Income is Rp296,237 Mil. Overall, PT Indoritel Makmur Internasional Tbk has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does PT Indoritel Makmur Internasional Tbk's Operating Income compare to TMUS and VZ?

PT Indoritel Makmur Internasional Tbk's Operating Income of Rp296,237 Mil can be compared against companies in the Telecommunication Services industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Operating Income for a Telecommunication Services company?

A good Operating Income depends on the Telecommunication Services industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Operating Income mean?

A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on PT Indoritel Makmur Internasional Tbk and its competitors. PT Indoritel Makmur Internasional Tbk's current Operating Income is Rp296,237 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is PT Indoritel Makmur Internasional Tbk stock overvalued right now?

Based on GuruFocus' analysis, PT Indoritel Makmur Internasional Tbk (ISX:DNET) is currently considered Fairly Valued. The stock's GF Value™ is Rp9,996.77, compared to a current price of Rp10,300.00 — trading 3% above its estimated fair value. The current Operating Income is Rp296,237 Mil. PT Indoritel Makmur Internasional Tbk's overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Operating Income calculated?

Operating Income is calculated from a company's financial statements. For PT Indoritel Makmur Internasional Tbk (ISX:DNET), the current Operating Income is Rp296,237 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is PT Indoritel Makmur Internasional Tbk (ISX:DNET) Overvalued in 2026?

Based on GuruFocus' analysis, PT Indoritel Makmur Internasional Tbk stock appears to be overvalued. The current stock price of Rp10,300.00 is trading 3% above its estimated GF Value™ of Rp9,996.77. GuruFocus considers PT Indoritel Makmur Internasional Tbk to be Fairly Valued.

Key valuation signals for ISX:DNET:

Operating Income: Rp296,237 Mil
GF Value™: Rp9,996.77 vs. price of Rp10,300.00 (3% above fair value)
GF Score™: 84/100 with 5 warning signs

No single metric tells the full story. See the ISX:DNET stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

PT Indoritel Makmur Internasional Tbk Business Description

Industry Communication Services Telecommunication Services

Comparable Companies ISX:ISAT ISX:EXCL ISX:MTEL ISX:TBIG ISX:TLKM ISX:IBST ISX:INET ISX:BALI ISX:LINK ISX:CENT TSE:9984 SHSE:600941 TMUS VZ T XTER:DTE NSE:BHARTIARTL CMCSA XZIM:ECO.ZW HKSE:00728

Address Jalan Jenderal Sudirman Kav. 70-71, Gedung Wisma Indocement Lantai 10, South Jakarta, Jakarta, IDN, 12910

Website https://www.indoritel.co.id

PT Indoritel Makmur Internasional Tbk is an investment holding company. The company, through its subsidiaries, is engaged in providing infrastructure through fiber optic media and serving telecommunication services ranging from data communication to interactive video, managing SDWAN services, and a variety of other Internet of Things (IoT) derivatives. Its segments are the Corporate segment, the Retail segment, and Others. It generates the majority of revenue from the Corporate segment. The Corporate Business Segment provides fiber-optic-based telecommunications data connection service products for business customers, such as Last Mile Solution, Fiberization, IP Transit, IEPL, MPLS, and DWDM, to other telecommunications operators and international customers.

84GF Score

Get the complete analysis for ISX:DNET

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

Rp10,300.00

Price

Rp9,996.77

GF Value

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