# PT Link Net Tbk (LINK)

> LINK · IDX · Communication and media, telecommunications · Indonesia · SAK · Fiscal year ends December
>
> Latest report: FY2025, the fiscal year ended 31 December 2025, its statements approved by the board on 12 February 2026. Snapshot FY2025_4aac42f4.

Page: https://annalist.io/company/link-net/

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, fiscal year | Rp3.08tn | 3081592000000 | IDR | +22.3% year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Profit before tax, fiscal year | −Rp1.44tn | -1443234000000 | IDR | n.m. year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Net income, fiscal year | −Rp1.45tn | -1448949000000 | IDR | n.m. year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Pre-tax margin, fiscal year | −46.8% | -46.834 | % | +23.5pp year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |
| Return on equity, fiscal year | −33.9% | -33.8746 | % | −8.4pp year on year | FY2025 | 2025-12-31 | Annual report 2025-12 |

- Pre-tax margin: Income before income taxes / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the fiscal year ended 31 December 2025 was Rp3.08 trillion, 22.3% higher than in the previous fiscal year. [New in FY2025] Sources: Annual report 2025-12.
- The company reported a net loss of Rp1.45 trillion for fiscal 2025, against a net loss of Rp1.19 trillion in the previous fiscal year. [Strengthened in FY2025] Sources: Annual report 2025-12.
- Return on equity for fiscal 2025 was -33.9%, against -25.4% a year earlier. [Weakened in FY2025] Sources: Annual report 2025-12, Annual report 2024-12.
- Free cash flow for fiscal 2025 was Rp155.3 billion, and operating cash flow was -0.9 times net income attributable to the company. [New in FY2025] Sources: Annual report 2025-12.
- Net debt was Rp6.64 trillion at 31 December 2025. [Strengthened in FY2025] Sources: Annual report 2025-12.
- Lease-adjusted debt was 9.3 times adjusted EBITDA for fiscal 2025, and funds from operations equalled 7.9% of that debt. Both ratios are within the highly leveraged band of the S&P standard volatility table. [Confirmed in FY2025] Sources: Annual report 2025-12.
- Cash, short-term investments and operating cash flow for fiscal 2025 equalled 0.2 times the sum of debt due within 12 months, capital expenditure and dividends. [Strengthened in FY2025] Sources: Annual report 2025-12.
- Operating cash flow for fiscal 2025 exceeded net income attributable to the company by an amount equal to 20.6% of average total assets. [Weakened in FY2025] Sources: Annual report 2025-12.
- The Altman Z'' score for fiscal 2025 was minus 4.10, below the distress threshold of 1.10. [Strengthened in FY2025] Sources: Annual report 2025-12.
- The Beneish M-score for fiscal 2025 was minus 3.71, below the model threshold of minus 1.78. [Strengthened in FY2025] Sources: Annual report 2025-12.
- The Piotroski F-score for fiscal 2025 was 6 of 9. The 3 signals not met were return on assets above zero, return on assets higher than a year earlier and current ratio higher than a year earlier. [Confirmed in FY2025] Sources: Annual report 2024-12, Annual report 2025-12.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2025 | 2025-12-31 | Revenue | Rp3.08tn | 3081592000000 | IDR | Annual report 2025-12 |
| FY2025 | 2025-12-31 | Profit attributable to owners of the parent | −Rp1.45tn | -1448949000000 | IDR | Annual report 2025-12 |
| FY2024 | 2024-12-31 | Revenue | Rp2.52tn | 2520686000000 | IDR | Annual report 2025-12 |
| FY2024 | 2024-12-31 | Profit attributable to owners of the parent | −Rp1.19tn | -1185302000000 | IDR | Annual report 2025-12 |
| FY2023 | 2023-12-31 | Revenue | Rp2.55tn | 2551893000000 | IDR | Annual report 2024-12 |
| FY2023 | 2023-12-31 | Profit attributable to owners of the parent | −Rp533bn | -532984000000 | IDR | Annual report 2024-12 |
| FY2022 | 2022-12-31 | Profit attributable to owners of the parent | Rp241bn | 240717000000 | IDR | Annual report 2023-12 |
| FY2021 | 2021-12-31 | Operating profit | Rp1.34tn | 1339670000000 | IDR | Annual report 2022-12 |
| FY2021 | 2021-12-31 | Profit attributable to owners of the parent | Rp885bn | 885318000000 | IDR | Annual report 2022-12 |

## Source Documents

- Annual report 2025-12: Annual report for the year to 31 December 2025, 12 Feb 2026, the date on which the board approved the statements (https://d2llgkshze4wob.cloudfront.net/storage/files/document/announcement/financial/en/2025/LINK_LKFS%20Audited%2031%20December%202025.pdf)
- Annual report 2024-12: Annual report for the year to 31 December 2024, 6 Feb 2025, the date on which the board approved the statements (https://d2llgkshze4wob.cloudfront.net/storage/files/document/announcement/financial/en/2024/2024_LINK%20LKT%2031Dec2024_Audit.pdf)
- Annual report 2023-12: Annual report for the year to 31 December 2023, 9 Feb 2024, the date on which the board approved the statements (https://d2llgkshze4wob.cloudfront.net/storage/files/document/announcement/financial/en/2023/2023_LINK%20LKT%2031%20Dec%202023_Audited.pdf)
- Annual report 2022-12: Annual report for the year to 31 December 2022, 6 Mar 2023, the date on which the board approved the statements (https://d2llgkshze4wob.cloudfront.net/storage/files/document/announcement/financial/en/2022/2022_LINK_LKT%2031Des2022.pdf)

## Reliability

- 471 checks compare these figures with other official figures; 0 failed.
- 12 values are withheld because the filings do not prove them; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/link-net/snapshots.json

## Cite

Annalist, PT Link Net Tbk, snapshot link-net/FY2025_4aac42f4; <item>, <period>; source <document>. Link the page https://annalist.io/company/link-net/ and the source document of the figure.

A figure of a statement has an address of its own, which opens the page at that figure with its source documents: https://annalist.io/company/link-net/?fig=<statement>/<period>/<item>, for example https://annalist.io/company/link-net/?fig=pl_annual/FY2025/revenue

## Full Data

- [Every statement, ratio and document of this snapshot (JSON)](https://annalist.io/api/v1/companies/link-net/snapshots/FY2025_4aac42f4/info.json)
- [Latest snapshot, at an address that does not change (JSON)](https://annalist.io/api/v1/companies/link-net/latest.json)
- [Income statement, annual (CSV)](https://annalist.io/api/v1/companies/link-net/snapshots/FY2025_4aac42f4/pl_annual.csv)
- [Balance sheet, year end (CSV)](https://annalist.io/api/v1/companies/link-net/snapshots/FY2025_4aac42f4/balance_sheet.csv)
- [Cash flow, annual (CSV)](https://annalist.io/api/v1/companies/link-net/snapshots/FY2025_4aac42f4/cf_annual.csv)
- [Ratios, annual (JSON)](https://annalist.io/api/v1/companies/link-net/snapshots/FY2025_4aac42f4/ratios/annual.json)
- [Key findings with their history (JSON)](https://annalist.io/api/v1/companies/link-net/findings.json)
- [New reports and findings (Atom feed)](https://annalist.io/company/link-net/feed.xml)
- [Excel workbook](https://annalist.io/company/link-net/link-net.xlsx)
- [Buyout model on these figures](https://annalist.io/deal-lab/buyout/link-net/)
- [Lenders, customers, suppliers and owners (brief in Markdown)](https://annalist.io/atlas/link-net/brief.md)
- [Lenders, customers, suppliers and owners (JSON)](https://annalist.io/api/v1/atlas/link-net.json)

## Peers

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- [BT Group plc](https://annalist.io/company/bt-group/brief.md)
- [Side by side](https://annalist.io/compare/?c=link-net,airtel-africa,at-and-t,bt-group)

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Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.