PT Jasa Marga (Persero) Tbk (PTJSY) Fair Value & Analysis
Industrials · US · Market cap $1.2B
PT Jasa Marga (Persero) Tbk
PTJSY · US
Fair value as of: Aug 13, 2026
From 14 valuation models · updated today
Fair value updated Aug 13, 2026, revised from $17.14 to $3.02 (−82.4%) since Jul 21, 2026.
Below-average quality, and screening another 13% overvalued on our models.
What matters now
- Our model range runs from $2.11 (bear) to $3.77 (bull), base $3.02. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 33/100 (below-average quality) with medium evidence: read the verdict with care.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year. As of Aug 13, 2026.
How to read this chart
60‑month range $3.30 – $8.82 · fair‑value band $2.11 – $3.77 · the $3.45 price screens above the $3.02 fair value. As of Aug 13, 2026.
Analysis
PT Jasa Marga (Persero) Tbk (PTJSY) currently trades at $3.45, while our model-based Fair Value estimate is $3.02, implying the stock looks roughly 12.5% overvalued today. The Quality Score stands at 33/100 (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: medium).
Over the trailing twelve months, PT Jasa Marga (Persero) Tbk generated revenue of $27.3T at a net margin of 12.0%. Revenue declined 8.1% year over year. It earns a return on equity of 7.7%. Net debt stands at $68.5T. Fundamentals as of Aug 13, 2026
Our scenario range runs from $2.11 (bear case) to $3.77 (bull case); at $3.45, the current price sits within 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 21% below its 52-week high and 5% above its 52-week low, currently below its 200-day average. For context, the median of 10 Industrials peers we cover trades at 10% fair-value upside, at -13%, PTJSY screens richer 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.
All 14 models by family
Widest divergence: Growth Earnings ($3.58) versus Economic Profit ($0.4390). Highest evidence: ROIC Compounder (72).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 33 · Market factors (momentum, volatility) 30
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 Jasa Marga (Persero) Tbk develops, constructs, operates, manages, and maintains toll roads in Indonesia. It offers road construction and maintenance services.
Full company description
PT Jasa Marga (Persero) Tbk develops, constructs, operates, manages, and maintains toll roads in Indonesia. It offers road construction and maintenance services. The company also rents toll road equipment and vehicles; holds toll road concessions; develops and constructs real estate properties, including residential, office building, and apartment; and manages rest areas. PT Jasa Marga (Persero) Tbk was founded in 1978 and is headquartered in Jakarta, Indonesia.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
PT Jasa Marga (Persero) Tbk reported revenue of $29.9T in FY2025 versus $15.2T in FY2021, a compound +18.5%/yr. Reported net income was $3.7T in FY2025, compounding +43.2%/yr from FY2021.
of which total revenue +9.4 pp · buybacks/dilution −0.8 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
Peer Group
Infrastructure Operations · 68 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.
Valuation Multiples vs Infrastructure Operations median · lower = cheaper
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.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Infrastructure Operations stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| China Merchants Expressway Network & Technology Holdings 001965 | ¥9.36 | ¥10.25 | +10% |
| Jiangsu Expressway Company 600377 | ¥12.01 | ¥14.47 | +20% |
| Shandong Hi-speed Company 600350 | ¥10.87 | ¥8.68 | -20% |
| Impulsora del Desarrollo y el Empleo en América Latina, S.A. IDEALB1 | 43.00 MXN | 33.24 MXN | -23% |
| Promotora y Operadora de Infraestructura, S. A. B. de C. V. PINFRA | 281.25 MXN | 945.00 MXN | +236% |
| Motiva Infraestrutura de Mobilidade S.A MOTV3 | R$14.03 | R$29.97 | +114% |
| Zhejiang Expressway Co 0576 | HK$6.26 | HK$18.50 | +196% |
| Guangdong Provincial Expressway Development Co 000429 | ¥13.16 | ¥13.79 | +5% |
| Anhui Expressway Company 600012 | ¥16.50 | ¥14.90 | -10% |
| Shenzhen Expressway Corporation 600548 | ¥8.37 | ¥9.16 | +9% |
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Frequently asked questions
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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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