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PT Armada Berjaya Trans Tbk (JAYA) Fair Value & Analysis

Industrials · ID · Market cap 96.3B IDR

PA PT Armada Berjaya Trans Tbk JAYA · JK
Price134.00 IDR
Fair Value96.55 IDR
Upside-28.0%
Quality37/100
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Expensive Growth
Thin margins · 7.7% net margin
Low debt · negative free cash flow
Ranks above peers (8/13)
Moderate moat 45/100
Evidence: High Range 72.41 IDR – 120.68 IDR Share as image

Fair value as of: Jul 12, 2026

From 17 valuation models · updated 29 days ago

Fair value updated Jul 12, 2026, revised from 119.26 IDR to 96.55 IDR (−19.0%) since Jun 24, 2026. Share price +9.8% over the past month.

Below-average quality, and screening another 28% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (120.68 IDR). The favourable scenario is already priced in.
  • Weak quality (37/100) and above fair value at the same time, the margin of safety is missing on both counts.
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Price vs Fair Value (5 years)

218.00 IDR 71.78 IDR Fair Value 96.55 IDR Feb 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.

How to read this chart

60‑month range 71.78 IDR – 218.00 IDR · fair‑value band 72.41 IDR – 120.68 IDR · the 134.00 IDR price screens above the 96.55 IDR fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.

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Analysis

PT Armada Berjaya Trans Tbk (JAYA) currently trades at 134.00 IDR, while our model-based Fair Value estimate is 96.55 IDR, implying the stock looks roughly 28.0% overvalued today. The Quality Score stands at 37/100 (below-average quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, PT Armada Berjaya Trans Tbk generated revenue of 84.4B IDR at a net margin of 7.7%. Revenue grew 63.6% year over year. It earns a return on equity of 5.2%. Net debt stands at 77.2B IDR. Fundamentals as of Jul 12, 2026

Our scenario range runs from 72.41 IDR (bear case) to 120.68 IDR (bull case); at 134.00 IDR, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 48% below its 52-week high and 54% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -70% fair-value upside, at -28%, JAYA screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model 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
Highest evidence
Residual Income 117.20 IDR 116.88 IDR 104.62 IDR 76
ROIC Compounder 51.20 IDR 63.87 IDR 74.95 IDR 72
Gordon GGM 46.43 IDR 96.54 IDR 153.15 IDR 70
All 17 models by family
DCF Models
Owner Earnings 6.81 IDR 30.21 IDR 69.59 IDR 31
Earnings-Based
Graham-Dodd 38.62 IDR 163.82 IDR 223.65 IDR 54
Lynch FV 41.74 IDR 59.63 IDR 77.52 IDR 50
PEG = 1.0 41.74 IDR 59.63 IDR 77.52 IDR 46
EPV 51.20 IDR 63.87 IDR 74.95 IDR 59
Dividend Discount
Gordon GGM 46.43 IDR 96.54 IDR 153.15 IDR 70
DDM Multi-Stage 46.43 IDR 81.41 IDR 101.32 IDR 61
Multiples
P/E Multiple 89.45 IDR 119.26 IDR 149.08 IDR 63
P/S Multiple 72.41 IDR 96.55 IDR 120.68 IDR 58
P/B Multiple 72.41 IDR 96.55 IDR 120.68 IDR 55
EV/EBIT 105.77 IDR 149.29 IDR 192.81 IDR 53
EV/EBITDA 248.51 IDR 339.60 IDR 430.69 IDR 54
EV/Revenue 68.40 IDR 108.33 IDR 148.27 IDR 43
Asset-Based
NCAV (Graham) 78.71 IDR 105.48 IDR 157.43 IDR 50
Economic Profit
Residual Income 117.20 IDR 116.88 IDR 104.62 IDR 76
ROIC Compounder 51.20 IDR 63.87 IDR 74.95 IDR 72
Growth Earnings
Growth-Adj P/E 70.46 IDR 100.66 IDR 130.86 IDR 68

Widest divergence: Multiples (108.33 IDR) versus DCF Models (30.21 IDR). Highest evidence: Residual Income (76).

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Key figures & financial health

Revenue (TTM) 84.4B IDR
Revenue growth (YoY) +63.6%
Net margin 7.7%
Return on equity 5.2%
Free cash flow −8.6B IDR FY2025
P/E ratio 14.9
More key figures
Operating margin 17.4%
EPS (TTM) 8.17 IDR
EPS growth (YoY) +918%
Net debt 77.2B IDR FY2025

Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 37/100

Of which business quality 36 · Market factors (momentum, volatility) 54

Profitability 20
Margins and returns on capital today
Quality Growth 41
Are margins and returns improving?
Cashflow 33
Earnings quality: real cash, not paper profit
Fin. Strength 28
Balance sheet, leverage, solvency risk
Investment 30
Disciplined investing over empire-building
Low Volatility 50
Calm price path (market factor)
Momentum 57
Price trend over the last 3–12 months (market factor)
52W Momentum 53
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

PT Armada Berjaya Trans Tbk engages in the transportation business in Indonesia. The company offers land transportation services, including loose cargo and container transportation, and long box truck fleet services; import and export custom clearance services for cargoes; and domestic freight forwarding and door to door services to various destinations.

Full company description

PT Armada Berjaya Trans Tbk engages in the transportation business in Indonesia. The company offers land transportation services, including loose cargo and container transportation, and long box truck fleet services; import and export custom clearance services for cargoes; and domestic freight forwarding and door to door services to various destinations. It also provides warehousing services; and engages in real estate development activities. PT Armada Berjaya Trans Tbk was formerly known as PT Armada Beton. The company was founded in 2012 and is based in Jakarta Timur, Indonesia.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

PT Armada Berjaya Trans Tbk reported revenue of 73.9B IDR in FY2025 versus 72.4B IDR in FY2021, a compound +0.5%/yr. Reported net income was 4.5B IDR in FY2025, compounding −5.8%/yr from FY2021.

Growth Quality 19/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2025)
73.9B IDR
Latest YoY
−26.6%
Avg. growth/yr (3Y) 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.
−2.3%
Avg. growth/yr (5Y) 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.
+2.5%
Avg. growth/yr (10Y) 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.
+16.2%
Revenue +0.5%/yr
FY21 72.4B IDR
FY22 79.2B IDR
FY23 84.8B IDR
FY24 101B IDR
FY25 73.9B IDR
Net income −5.8%/yr
FY21 5.7B IDR
FY22 4.3B IDR
FY23 10.2B IDR
FY24 6.2B IDR
FY25 4.5B IDR

JAYA screens 28% overvalued. Compare with Old Dominion Freight Line, Inc →

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Cite: Fair Value Calculator (2026). "PT Armada Berjaya Trans Tbk Fair Value". https://www.fairvalue-calculator.com/stock/JAYA

Peer Group

Trucking · 46 stocks

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.

Quality Score 37 · Bottom 25%
Fair Value upside −28% · Below median
Return on equity (TTM) 5% · Above median
Return on assets 2% · Above median
Net margin (TTM) 8% · Top 25%
Operating margin (TTM) 17% · Top 25%
Revenue growth 64% · Top 25%
Dividend yield (TTM) 0.0% · Bottom 25%
Debt / equity 0.18× · Higher than median

Valuation Multiples vs Trucking median · lower = cheaper

P/E (TTM) 14.9× · Cheaper than median
P/B 0.77× · Cheaper than 75% of peers
P/S (TTM) 1.14× · Pricier than median
EV/EBITDA 3.8× · Cheaper than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 7
FUTURE 100 · sector 10
PAST 21 · sector 13
HEALTH 91 · sector 94
DIVIDEND 0 · sector 20

VALUE 0: the price sits above our fair-value range.

Insider activity: 45/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Trucking stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).

Stock Price Fair Value vs Fair Value
Old Dominion Freight Line, Inc ODFL $225.23 $103.37 -54%
XPO, Inc XPO $219.29 $56.52 -74%
TFI International Inc TFII $155.83 $110.79 -29%
Knight-Swift Transportation Holdings KNX $75.19 $8.58 -89%
Saia, Inc SAIA $438.29 $129.64 -70%
Schneider National, Inc SNDR $38.19 $12.37 -68%
RXO, Inc RXO $27.07 $3.48 -87%
ArcBest Corporation ARCB $147.13 $45.89 -69%
Werner Enterprises, Inc WERN $46.04 $8.24 -82%
Dazhong Transportation (Group) Co 600611 ¥4.55 ¥1.20 -74%

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Frequently asked questions

Is PT Armada Berjaya Trans Tbk (JAYA) overvalued or undervalued?
As of Jul 12, 2026, our model estimates a fair value of 96.55 IDR versus a price of 134.00 IDR, about −28% (overvalued).
What is the fair value of JAYA?
Our model-based fair value for PT Armada Berjaya Trans Tbk is 96.55 IDR (as of Jul 12, 2026), built from audited fundamentals. The current price is 134.00 IDR.
What is the quality score of JAYA?
PT Armada Berjaya Trans Tbk has a Quality Score of 37/100. 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 revenue of PT Armada Berjaya Trans Tbk (JAYA)?
PT Armada Berjaya Trans Tbk reported trailing-twelve-month revenue of about 84.4B IDR (latest available figure, as of Jul 12, 2026).
What is the net profit margin of JAYA?
The net profit margin of PT Armada Berjaya Trans Tbk is about 7.7%, meaning it keeps roughly 7.7% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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