Jaya Trishindo Tbk PT (HELI) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Jaya Trishindo Tbk PT IDR 727, price IDR 244, upside +198.2%, quality 74 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range 77.00 IDR – 730.00 IDR · fair‑value band 464.87 IDR – 945.73 IDR · the 244.00 IDR price screens below the 727.49 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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PT Jaya Trishindo Tbk, together with its subsidiary, PT Komala Indonesia, provides helicopter charter services in Indonesia. The company offers single- and twin-engine helicopters, and procurement services. It also provides non-scheduled commercial air transportation, air transportation leasing, and other air transportation services.
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PT Jaya Trishindo Tbk, together with its subsidiary, PT Komala Indonesia, provides helicopter charter services in Indonesia. The company offers single- and twin-engine helicopters, and procurement services. It also provides non-scheduled commercial air transportation, air transportation leasing, and other air transportation services. The company's services are used for VIP transport, aerial surveys, fire water bombing, geomagnetic surveys, external cargo transport, and medical evacuation applications. PT Jaya Trishindo Tbk was founded in 2007 and is headquartered in Jakarta Barat, Indonesia.
Stock analysis
Jaya Trishindo Tbk PT (HELI) currently trades at 244.00 IDR, while our model-based Fair Value estimate is 727.49 IDR, implying the stock looks roughly 66.5% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of 925.64 IDR per share, and 23 of the 24 models we run sit above the 244.00 IDR price.
Bear case: the Economic Profit group reads lowest at 294.45 IDR, and 1 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: 464.87 IDR (bear) to 945.73 IDR (bull), the price of 244.00 IDR sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 74/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is weak: less than 2 % a year.
Jaya Trishindo Tbk PT reported revenue of 154B IDR in FY2025 versus 63.4B IDR in FY2021, a compound +24.9%/yr. Reported net income was 26.4B IDR in FY2025, compounding +66.5%/yr from FY2021.
Key figures
Market cap 203B IDR (≈ $20.3M) · P/E ratio 7.6 · P/S ratio 1.31 · EPS (TTM) 31.90 IDR · Net margin 17.1% · Return on equity 34.3% · Return on assets (EBIT) −0.2% · Operating margin 9.4%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades about 6% below its 52-week high and 79% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Industrials peers we cover trades at −13% fair-value upside, at 198%, HELI screens cheaper than that median.
Fair Value models
Bear 464.87 IDRFair Value 727.49 IDRBull 945.73 IDR
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (23.42 IDR per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is weak: less than 2 % a year.
Revenue growth 1 year
+17.6%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+51.3%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+1.4%
Start year 2020 (pandemic). Over 10 years: +11.9% a year
Revenue growth 10 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+11.9%
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What shareholders gained per year (last 5 years), in IDR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in IDR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+29.3%
Earnings growth per share plus dividend.
Earnings per share, growth per year+29.3%
Dividend (yield on the price)0.0%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.32% vs 20%, picking up
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.11% → 17%
2025 sits 583% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Start year 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−4.9%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Indonesia: IMF forecast 2.6% a year to 2030, 2.9% from 2016 to 2025) that is about −7.3% a year for the price.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Airports & Air Services · 56 stocks
Beats the industry median on 10/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score74 · Top 25%
Fair Value upside+198% · Top 25%
Profitability
Return on equity (TTM)34% · Top 25%
Return on assets8% · Above median
Net margin (TTM)17% · Above median
Operating margin (TTM)9% · Below median
Growth and dividend
Revenue growth1% · Below median
Balance sheet
Debt / equity0.00× · Lowest 25%
Valuation Multiplesvs Airports & Air Services median · lower = cheaper
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Is Jaya Trishindo Tbk PT (HELI) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of 727.49 IDR versus a price of 244.00 IDR, about +198% upside (undervalued).
What is the fair value of HELI?
Our model-based fair value for Jaya Trishindo Tbk PT is 727.49 IDR (as of Sep 24, 2026), built from audited fundamentals. The current price: 244.00 IDR.
What is the quality score of HELI?
Jaya Trishindo Tbk PT has a Quality Score of 74/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Jaya Trishindo Tbk PT (HELI)?
Our model-based price target is the fair value of 727.49 IDR (as of Sep 24, 2026) from 24 valuation models. Cautious scenario 464.87 IDR, optimistic scenario 945.73 IDR. It is a calculation from audited fundamentals, not an analyst target.
What is the Jaya Trishindo Tbk PT stock forecast for 2026?
Our models put fair value at 727.49 IDR, about +198% upside versus a price of 244.00 IDR (undervalued). Cautious scenario 464.87 IDR, optimistic scenario 945.73 IDR. The calculation is refreshed regularly with new filings.
What is the revenue of Jaya Trishindo Tbk PT (HELI)?
Jaya Trishindo Tbk PT reported trailing-twelve-month revenue of about 155B IDR (latest available figure, as of Sep 24, 2026).
What growth is priced into Jaya Trishindo Tbk PT (HELI)?
For today's price to be fair in a discounted-cash-flow model, Jaya Trishindo Tbk PT would have to grow free cash flow by -4.9 % per year for five years (discount rate 11.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +1.4 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of HELI use?
Our models discount Jaya Trishindo Tbk PT at 11.8 %: a base by market capitalisation (nano), damped by beta 0.94, country premium for Indonesia. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Jaya Trishindo Tbk PT that is -4.9 % per year a year over ten years, using the same discount rate (11.8 %) and the same formula as our fair value.
How much growth has Jaya Trishindo Tbk PT (HELI) delivered so far?
Over the past 5 years revenue at Jaya Trishindo Tbk PT grew +1.4 % a year. The price currently implies -4.9 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Jaya Trishindo Tbk PT (HELI) growing?
The median revenue growth in the sector is +4.7 % a year. That is the yardstick for the growth priced into Jaya Trishindo Tbk PT (-4.9 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Jaya Trishindo Tbk PT (HELI)?
The free-cash-flow yield on the price is 15.11 %: that much free cash flow Jaya Trishindo Tbk PT produces per unit of market value. When it exceeds the discount rate of our models (11.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Jaya Trishindo Tbk PT (HELI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Jaya Trishindo Tbk PT it is 727.49 IDR per share (as of Sep 24, 2026), against a price of 244.00 IDR. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Jaya Trishindo Tbk PT stock overvalued or undervalued in 2026?
As of Sep 24, 2026, HELI trades below its calculated fair value: price 244.00 IDR, fair value 727.49 IDR, a gap of about +198% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of HELI?
No. The price is what the market pays today (244.00 IDR); the fair value is what the company's own numbers justify (727.49 IDR). For Jaya Trishindo Tbk PT the two are 483.49 IDR per share apart. That gap is exactly why we show both numbers side by side.
How much is Jaya Trishindo Tbk PT worth?
The market values Jaya Trishindo Tbk PT at about 203B IDR (market capitalisation, as of Sep 24, 2026). Per share that is 244.00 IDR; our models calculate a fair value of 727.49 IDR per share.
What do the bullish and bearish scenarios say about HELI?
Our models span a range for Jaya Trishindo Tbk PT: cautious scenario 464.87 IDR, base 727.49 IDR, optimistic 945.73 IDR per share (as of Sep 24, 2026, price 244.00 IDR). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of HELI?
Jaya Trishindo Tbk PT trades at a price-to-earnings ratio of 7.6 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of 727.49 IDR is built from several models across several years. Other multiples: P/B 2.3, P/S 1.3, EV/EBITDA 4.9.
How solid is the balance sheet of Jaya Trishindo Tbk PT (HELI)?
Balance-sheet figures for Jaya Trishindo Tbk PT (as of Sep 24, 2026): return on equity 34.3%, debt of 0.00 per unit of equity. They feed the Quality Score of 74/100, which measures business quality independently of the share price.
How far is HELI from its 52-week high?
Jaya Trishindo Tbk PT trades at 244.00 IDR, about 6% below its 52-week high of 260.00 IDR and 79% above the low of 136.00 IDR (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of 727.49 IDR is for.
Which stocks are comparable to Jaya Trishindo Tbk PT?
From the same area (Industrials) we also value Aena S.M.E., S.A, Airports of Thailand Public Company, Grupo Aeroportuario del Pacífico, S.A., GMR Airports Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Jaya Trishindo Tbk PT stock attractive at the current price?
The data as of Sep 24, 2026: price 244.00 IDR, calculated fair value 727.49 IDR (+198%), Quality Score 74/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of HELI calculated?
We run Jaya Trishindo Tbk PT through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of 727.49 IDR, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Jaya Trishindo Tbk PT currently trades 198 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Jaya Trishindo Tbk PT (HELI)?
The closing price on Sep 23, 2026 was 244.00 IDR. Our model-based fair value is 727.49 IDR, about +198% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Jaya Trishindo Tbk PT right now?
The rarer combination: high quality (74/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (464.87 IDR). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (464.87 IDR to 945.73 IDR) leaves room in how you read the outcome.
Key figures of Jaya Trishindo Tbk PT
How large is the market capitalisation of Jaya Trishindo Tbk PT (HELI)?
The market capitalisation of Jaya Trishindo Tbk PT is 203B IDR (≈ $20.3M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Jaya Trishindo Tbk PT (HELI)?
The price-to-sales ratio of Jaya Trishindo Tbk PT is 1.31 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Jaya Trishindo Tbk PT (HELI)?
Earnings per share at Jaya Trishindo Tbk PT are 31.90 IDR (price ÷ EPS = P/E 7.6). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Jaya Trishindo Tbk PT (HELI)?
The net margin of Jaya Trishindo Tbk PT is 17.1% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Jaya Trishindo Tbk PT (HELI)?
The return on equity (ROE) of Jaya Trishindo Tbk PT is 34.3% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Jaya Trishindo Tbk PT (HELI)?
On an EBIT basis the return on assets of Jaya Trishindo Tbk PT is −0.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Jaya Trishindo Tbk PT (HELI)?
The operating margin of Jaya Trishindo Tbk PT is 9.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Jaya Trishindo Tbk PT (HELI)?
Revenue at Jaya Trishindo Tbk PT is growing +1.4% versus a year earlier (3y avg +51.3%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Jaya Trishindo Tbk PT (HELI)?
Earnings per share at Jaya Trishindo Tbk PT are growing +11.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Jaya Trishindo Tbk PT (HELI) carry?
The net debt of Jaya Trishindo Tbk PT is 57.4B IDR (fiscal year 2025, ≈ 1.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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