Metrodata (MTDL) Stock Outlook Supported by Cloud and AI Solutions
PT Metrodata Electronics Tbk (MTDL) is expected to deliver promising performance as the company strengthens its digital solutions business based on cloud and artificial intelligence (AI).
Fundamental Analyst at BRI Danareksa Securities, Abida Massi Armand, stated that business growth opportunities for MTDL remain wide open as corporations increase technology spending to support digital transformation.
The company continues to strengthen its service portfolio including cloud, data and AI, cybersecurity, and managed services, which have become essential requirements across various industrial sectors, ranging from banking to financial services.
In the first nine months of 2025, MTDL reported revenue of approximately IDR 18.8 trillion, representing 9% year-on-year growth, driven by increased demand for digital solutions, Abida told Kontan on Friday (13 March 2026).
Abida believes the collaboration has the potential to strengthen MTDL’s position in the enterprise solutions segment. The synergy between Workday’s cloud-based HCM platform, Mercer’s human resources consulting, and MTDL’s technology implementation capabilities enables the company to offer end-to-end AI-based HR transformation solutions to corporations.
“This collaboration has the potential to expand the enterprise client base whilst increasing project-based and recurring service revenue,” she explained.
Abida stated that the outlook for this segment remains sufficiently positive as digital device penetration and connectivity needs increase in Indonesia.
In the first nine months of 2025, smartphone sales growth of approximately 27% supported MTDL’s distribution unit performance amid slowdown in the PC and notebook market, she said.
She added that the distribution segment is still projected to be the largest contributor to MTDL revenue due to the scale of its business. Through the third quarter of 2025, this segment had contributed approximately IDR 13.7 trillion to total company revenue.
However, from the perspective of growth and margins, the solutions and consulting segment is considered to have stronger momentum.
“The solutions segment revenue grew approximately 20.5% year-on-year, driven by cloud, AI, and managed services businesses. Going forward, the contribution of net profit from this segment is estimated to increase gradually,” Abida added.
Similarly, Equity Research Analyst at Kiwoom Securities Indonesia, Abdul Azis Setyo Wibowo, believes the increased need for digitalisation in the corporate sector represents a major opportunity for MTDL, particularly through cloud and AI-based solutions.
“With a sufficiently strong product portfolio and global partnership network, MTDL has the potential to maintain digital solutions business growth over the coming years,” Azis said.
Azis also believes MTDL’s collaboration with Workday and Mercer Indonesia can strengthen the company’s position as a provider of end-to-end digital solutions.
Demand for cloud-based human resources management systems is considered to continue increasing as companies require efficiency and data-driven decision making.
“This collaboration has the potential to add to the project pipeline and expand MTDL’s corporate client base,” he explained.
Azis added that in the medium term, the communications products segment also has the potential to be one of the drivers of the company’s revenue growth.
This is in line with the increasing need for network devices and communications infrastructure to support data centre, cloud, and corporate connectivity expansion.
From a business structure perspective, Azis projects that the distribution segment will remain MTDL’s main revenue contributor due to the scale of its business.
However, the solutions segment is estimated to provide higher margin contribution and therefore plays a greater role in driving net profit growth.
“The combination of these two segments makes MTDL’s business model relatively balanced between sales volume and profitability,” he said.
Azis recommends a trading buy for MTDL shares with a target price of IDR 595.