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STOCK COMPARISON

Jasa Marga Persero Tbk PT vs Merchant Express Class A: Fair Value & Quality

Both stocks run through our valuation models. Here is how Jasa Marga Persero Tbk PT (PTJSY) and Merchant Express Class A (001965) compare, as of Aug 14, 2026.

As of Aug 14, 2026, Fair Value Calculator sees Merchant Express Class A as the more attractively valued of the two: Jasa Marga Persero Tbk PT trades at $3.45 versus a fair value of $3.02 (-13%), while Merchant Express Class A trades at ¥9.24 versus ¥10.25 (+11%).
Jasa Marga Persero Tbk PT
PTJSY · USD · Industrials
-13%
upside to fair value
overvalued
Price$3.45
Fair Value$3.02
Quality33/100
Merchant Express Class A
001965.SHE · CNY · Industrials
+11%
upside to fair value
undervalued
Price¥9.24
Fair Value¥10.25
Quality59/100

Head-to-head numbers

Green value = the better side for that row (for valuation multiples: lower = cheaper).

Jasa Marga Persero Tbk PTMerchant Express Class A
Valuation
6.4×P/E (TTM)15.0×
—P/S (TTM)4.77×
—P/B0.91×
—EV/EBITDA16.3×
5.3%Dividend yield3.8%
—Dividend per share¥0.37
Profitability
12%Net margin33%
0%Operating margin20%
8%Return on equity6%
4%Return on assets1%
Growth
-8%Revenue growth (YoY)27%
21.7%Avg. growth/yr (3Y)17.2%
16.9%Avg. growth/yr (5Y)13.6%
Balance & size
1.96×Debt / equity0.65×
$1BMarket cap$10B
expensiveGrowth qualityhealthy

Jasa Marga Persero Tbk PT leads: 6 to 4 metric wins.

Dash = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Jasa Marga Persero Tbk PTof which business quality 33 · market factors 30 Merchant Express Class Aof which business quality 57 · market factors 45
ProfitabilityMargins and returns on capital today
29
34
Quality GrowthAre margins and returns improving?
43
48
CashflowEarnings quality: real cash, not paper profit
35
85
Fin. StrengthBalance sheet, leverage, solvency risk
11
33
InvestmentDisciplined investing over empire-building
2
55
Low VolatilityCalm price path (market factor)
50
92
MomentumPrice trend over the last 3–12 months (market factor)
30
32
52W MomentumDistance to the 52-week high (market factor)
7
16
Net IssuanceBuybacks instead of dilution
82
94

What the models say

The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.

Jasa Marga Persero Tbk PT

Earnings-Based$2.35
Multiples$3.02
Asset-Based$1.18
Economic Profit$1.01
Growth Earnings$3.58

9 of 13 models see the stock below the current price.

Merchant Express Class A

DCF Models¥12.99
Earnings-Based¥10.25
Dividend Discount¥11.63
Multiples¥7.50
Asset-Based¥7.32
Growth DCF¥8.98
Economic Profit¥9.16
Growth Earnings¥15.42

8 of 23 models see the stock below the current price.

Scenario ranges

From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.

Jasa Marga Persero Tbk PT
Bear $2.11Fair Value $3.02Bull $3.77
$3.45 = current price (white tick)
Merchant Express Class A
Bear ¥4.24Fair Value ¥10.25Bull ¥13.33
¥9.24 = current price (white tick)

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Jasa Marga Persero Tbk PT · Industrials

Quality score33 · bottom 25%
Fair value upside-13% · above median

Merchant Express Class A · Industrials

Quality score59 · above median
Fair value upside+11% · above median

Bottom line

As of Aug 14, 2026, Fair Value Calculator sees Merchant Express Class A as the more attractively valued of the two: Jasa Marga Persero Tbk PT trades at $3.45 versus a fair value of $3.02 (-13%), while Merchant Express Class A trades at ¥9.24 versus ¥10.25 (+11%).

Merchant Express Class A has the higher quality score (59/100).

See the full analysis →
Jasa Marga Persero Tbk PT · Merchant Express Class A

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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.