PT Jasa Marga (Persero) Tbk (PTJSY)
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
PT Jasa Marga (Persero) Tbk (PTJSY) trades at $3.45 with AI Score 48/100 (Grade C). PT Jasa Marga (Persero) Tbk is an Indonesian company focused on developing, constructing, operating, and maintaining toll roads. Market cap: $1.25B, Sector: Industrials.
Price live · AI analysis from Mar 16, 2026Analyst Coverage for PTJSY: PTJSY does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates PTJSY against Industrials peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
PTJSY: the 1 perspectives are evenly split.
How is this calculated? →PT Jasa Marga (Persero) Tbk (PTJSY) Industrial Operations Profile
PT Jasa Marga (Persero) Tbk, an Indonesian toll road operator, develops, constructs, and manages toll roads across Indonesia. With a focus on toll road services and real estate development, the company operates 13 toll roads, contributing to Indonesia's infrastructure development and offering a dividend yield of 5.09%.
What Is the Investment Thesis for PTJSY?
PT Jasa Marga (Persero) Tbk presents a compelling investment case based on Indonesia's growing infrastructure needs and the company's established position in the toll road sector. With a P/E ratio of 5.5 and a dividend yield of 5.09%, the company offers a blend of value and income potential. Key value drivers include increasing traffic volume on its 13 toll roads and potential expansion through new infrastructure projects. Ongoing catalysts include government infrastructure spending and increasing urbanization in Indonesia. Potential risks include regulatory changes, currency fluctuations, and competition from alternative transportation modes. Investors should monitor traffic volume growth, project timelines, and macroeconomic conditions in Indonesia.
Based on FMP financials and quantitative analysis
PTJSY Key Highlights
- Market capitalization of $1.25B reflects the company's significant presence in the Indonesian toll road sector.
- P/E ratio of 5.5 suggests the company may be undervalued compared to its earnings.
- Profit margin of 12.2% indicates efficient operations and profitability in the toll road business.
- Gross margin of 39.1% demonstrates the company's ability to manage costs effectively.
- Dividend yield of 5.09% offers an attractive income stream for investors.
Who Are PTJSY's Competitors?
PTJSY is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| AEGXF Aecon Group Inc. | $36.76 | +5.50% | $2.52B | 55 |
| BIRDF Bird Construction Inc. | $45.42 | +3.24% | $2.52B | 45 |
| BRRAF Barloworld Limited | $5.72 | +0.00% | $1.07B | 41 |
| BTGRF BTS Group Holdings Public Company Limited | $0.08 | +13.36% | $1.35B | 44 |
| CKOCF Chudenko Corporation | $27.11 | +0.00% | $1.44B | 49 |
| EKIVF Enka Insaat ve Sanayi A.S. | $1.12 | +7.14% | $6.39B | 64 |
| AGX Argan, Inc. | $738.72 | +4.61% | $10.36B | 62 |
| LGN Legence Corp. | $77.08 | +1.64% | $9.33B | 60 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are PTJSY's Key Strengths?
- Established market position in the Indonesian toll road sector.
- Extensive network of toll roads connecting major cities and industrial areas.
- Strong relationships with the Indonesian government and regulatory agencies.
- Experienced management team with a proven track record.
What Are PTJSY's Weaknesses?
- High dependence on government infrastructure spending.
- Exposure to currency fluctuations and macroeconomic risks in Indonesia.
- Potential for delays and cost overruns in construction projects.
- Vulnerability to changes in government regulations and policies.
What Could Drive PTJSY Stock Higher?
- Government infrastructure spending in Indonesia continues to support toll road development and expansion.
- Increasing urbanization and economic growth in Indonesia drive higher traffic volume on toll roads.
- Potential new toll road projects and acquisitions could expand the company's network and revenue base.
- Implementation of new technologies to improve efficiency and reduce operating costs.
- Real estate development projects along toll roads can generate additional revenue streams.
What Are the Key Risks for PTJSY?
- Financial-distress signal — its Altman Z-Score of 0.67 sits in the distress zone (elevated bankruptcy risk).
- Changes in government regulations and policies could negatively impact the toll road sector.
- Economic downturns and reduced traffic volume could decrease toll revenue.
- Competition from alternative transportation modes could erode market share.
- Currency fluctuations could affect the value of the ADR for U.S. investors.
- Delays and cost overruns in construction projects could reduce profitability.
What Are the Growth Opportunities for PTJSY?
- Expansion of Toll Road Network: PT Jasa Marga has the opportunity to expand its toll road network through new construction projects and acquisitions. The Indonesian government's focus on infrastructure development provides a supportive environment for growth. The market size for new toll road projects is estimated to be in the billions of dollars over the next decade, with potential for PT Jasa Marga to secure a significant share. This expansion could drive revenue growth and increase the company's market share in the toll road sector. Timeline: Ongoing.
- Real Estate Development: The company can leverage its existing toll road network to develop real estate properties adjacent to its toll roads. This includes commercial, residential, and industrial developments. The market for real estate development along toll roads is substantial, driven by increasing urbanization and demand for convenient access to transportation networks. This diversification strategy can generate additional revenue streams and enhance the company's profitability. Timeline: Ongoing.
- Increased Traffic Volume: As Indonesia's economy grows and urbanization increases, traffic volume on PT Jasa Marga's existing toll roads is expected to rise. This organic growth will contribute to increased toll revenue and profitability. The company can further enhance traffic volume through marketing initiatives and partnerships with transportation providers. The potential increase in revenue from higher traffic volume is significant, given the company's extensive network of toll roads. Timeline: Ongoing.
- Technological Advancements: PT Jasa Marga can adopt new technologies to improve the efficiency and safety of its toll road operations. This includes implementing electronic toll collection systems, intelligent transportation systems, and advanced traffic management technologies. These advancements can reduce operating costs, improve customer satisfaction, and enhance the overall performance of the toll road network. The market for transportation technology is rapidly evolving, providing opportunities for PT Jasa Marga to stay ahead of the curve. Timeline: Ongoing.
- Strategic Partnerships: The company can form strategic partnerships with other infrastructure companies, construction firms, and technology providers to enhance its capabilities and expand its reach. These partnerships can provide access to new markets, technologies, and expertise. Collaboration with other players in the infrastructure sector can create synergies and drive innovation. The potential benefits of strategic partnerships are significant, including increased efficiency, reduced costs, and enhanced competitiveness. Timeline: Ongoing.
What Opportunities Does PTJSY Have?
- Expansion of toll road network through new construction projects and acquisitions.
- Development of real estate properties adjacent to toll roads.
- Increased traffic volume due to economic growth and urbanization.
- Adoption of new technologies to improve efficiency and safety.
What Threats Does PTJSY Face?
- Competition from alternative transportation modes, such as railways and airlines.
- Potential for natural disasters and disruptions to toll road operations.
- Changes in government policies and regulations affecting the toll road sector.
- Economic downturns and reduced traffic volume.
What Are PTJSY's Competitive Advantages?
- Government Concessions: Exclusive rights to operate toll roads granted by the Indonesian government create a barrier to entry.
- Extensive Network: The company's established network of toll roads provides a competitive advantage over new entrants.
- High Capital Requirements: The significant capital investment required to develop and construct toll roads deters potential competitors.
- Strategic Locations: Toll roads are strategically located to connect major cities and industrial areas, providing essential transportation infrastructure.
What Does PTJSY Do?
Founded in 1978 and headquartered in Jakarta, Indonesia, PT Jasa Marga (Persero) Tbk has evolved into a key player in Indonesia's infrastructure sector, specifically in the development and management of toll roads. The company's core business revolves around the development, construction, operation, management, and maintenance of toll roads across the Indonesian archipelago. Beyond its primary focus on toll roads, PT Jasa Marga also provides a range of toll road services, including transaction and traffic management, as well as road construction services. The company further diversifies its revenue streams through the rental of toll road equipment and vehicles and the development of real estate properties adjacent to its toll road networks. Currently, PT Jasa Marga operates 13 toll roads, playing a crucial role in facilitating transportation and economic growth in Indonesia. The company's integrated approach, combining toll road operations with related services and property development, positions it as a significant contributor to Indonesia's infrastructure landscape.
What Products and Services Does PTJSY Offer?
- Develops and constructs toll roads in Indonesia.
- Operates and manages toll roads.
- Maintains toll road infrastructure.
- Provides toll road transaction services.
- Offers traffic management services.
- Rents toll road equipment and vehicles.
- Develops real estate properties adjacent to toll roads.
How Does PTJSY Make Money?
- Generates revenue primarily from toll collection on its network of toll roads.
- Earns income from toll road service offerings, including transaction and traffic services.
- Derives revenue from the rental of toll road equipment and vehicles.
- Generates income from real estate development projects along its toll roads.
What Industry Does PTJSY Operate In?
PT Jasa Marga (Persero) Tbk operates within the Indonesian infrastructure sector, specifically in the toll road segment. The industry is characterized by high barriers to entry due to significant capital requirements and regulatory approvals. Market trends include increasing government investment in infrastructure development and growing demand for efficient transportation networks. The competitive landscape includes both domestic and international players, with PT Jasa Marga holding a significant market share due to its established presence and extensive network of toll roads. The Indonesian infrastructure sector is expected to grow in the coming years, driven by urbanization and economic expansion.
Who Are PTJSY's Key Customers?
- Individual vehicle owners using the toll roads.
- Commercial transportation companies and logistics providers.
- Commuters traveling to and from urban areas.
- Businesses located along the toll road network.
Company Profile
PT Jasa Marga (Persero) Tbk operates in the Engineering & Construction industry within the Industrials sector. It is headquartered in Jakarta, ID. The company is led by CEO Pramitha Wulanjani. PTJSY has traded publicly since 2014.
F-Score 6/9Financial Health
PT Jasa Marga (Persero) Tbk's Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 0.67 places it in the distress zone, a signal of elevated financial risk.
ROE 10%Key Financial Metrics
Return on equity for PT Jasa Marga (Persero) Tbk stands at 9.8%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 2.2%, showing how much profit it generates from its asset base. PTJSY trades at a trailing price-to-earnings ratio of 5.51, below the Industrials sector average of ~30x. Its free cash flow yield is 22.0%, a gauge of the cash the business throws off relative to its market value. A current ratio of 0.58 means current liabilities exceed short-term assets, a liquidity point worth watching. Its earnings yield is 18.2%, the inverse of the P/E and a quick read on earnings relative to price.
PTJSY Valuation & Market Position
With a $1.25B market cap, PT Jasa Marga (Persero) Tbk sits in the small-cap segment of the market. Relative to its peer group, PTJSY's quantitative score of 48/100 is roughly in line with the peer average of 47/100.
FY2026 estForward Outlook
Wall Street analysts project PT Jasa Marga (Persero) Tbk revenue of about $21.26T for fiscal 2026, with EPS near $0.00. The estimate reflects 8 contributing analysts.
PTJSY Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
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Bear Case
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AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
PTJSY Latest News
No recent news available for PTJSY.
PTJSY Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PTJSY.
Price Targets
Wall Street price target analysis for PTJSY.
PTJSY MoonshotScore
What does this score mean?
The MoonshotScore rates PTJSY's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Pramitha Wulanjani
Unknown
Information on Pramitha Wulanjani's background is not available in the provided data. Therefore, a detailed career history, education, previous roles, and credentials cannot be provided. Further research would be needed to develop a comprehensive profile.
Track Record: Information on Pramitha Wulanjani's track record is not available in the provided data. Key achievements, strategic decisions, and company milestones under their leadership cannot be provided without further research.
PT Jasa Marga (Persero) Tbk ADR Information Unsponsored
PT Jasa Marga (Persero) Tbk trades as an American Depositary Receipt (ADR) in the United States. An ADR is a certificate representing shares of a foreign company's stock held by a U.S. depositary bank. For PTJSY, each ADR represents a certain number of shares of PT Jasa Marga's stock traded on the Jakarta Stock Exchange, allowing U.S. investors to invest in the company more easily.
- Home Market Ticker: Jakarta Stock Exchange (PTJS), Indonesia
- ADR Level: 1
- ADR Ratio: 1:1
- Home Market Ticker: PTJS
PTJSY OTC Market Information
PT Jasa Marga (Persero) Tbk trades on the OTC Other tier, which represents the lowest tier of the OTC market. Companies on this tier often have limited financial disclosure and may not meet the listing requirements of major exchanges like the NYSE or NASDAQ. Investing in OTC Other tier stocks carries higher risks due to the potential for less transparency and regulatory oversight compared to listed companies. Investors should conduct thorough due diligence before investing in OTC Other stocks.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure and transparency.
- Low trading volume and liquidity.
- Potential for price manipulation and fraud.
- Higher risk of delisting or trading suspension.
- Lack of regulatory oversight and investor protection.
- Verify the company's registration and legal status.
- Obtain and review audited financial statements.
- Research the company's management team and their track record.
- Assess the company's business model and competitive landscape.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor before investing.
- Check for any regulatory actions or legal proceedings against the company.
- The company has been in operation since 1978.
- It is a Persero (state-owned enterprise) in Indonesia.
- It operates 13 toll roads in Indonesia.
- It has a market capitalization of $1.25B.
- It has a dividend yield of 5.09%.
PTJSY Industrials Stock FAQ
What does PT Jasa Marga (Persero) Tbk do?
PT Jasa Marga (Persero) Tbk is primarily involved in the development, construction, operation, and maintenance of toll roads in Indonesia. It generates revenue through toll collection from vehicles using its network of 13 toll roads. Additionally, the company provides toll road services such as transaction and traffic management, rents toll road equipment, and develops real estate properties along its toll road corridors, diversifying its income streams within the infrastructure sector.
What are the main risks for PTJSY?
PT Jasa Marga faces several risks inherent in the infrastructure sector and the Indonesian market. These include regulatory risks related to government policies on toll road concessions and pricing, macroeconomic risks such as currency fluctuations and economic downturns affecting traffic volume, and project risks associated with construction delays and cost overruns. Competition from alternative transportation modes and potential natural disasters also pose risks to the company's operations and profitability.
What are the key factors to evaluate for PTJSY?
PT Jasa Marga (Persero) Tbk (PTJSY) holds an AI score of 48/100 (low). P/E: 5.5x vs the S&P 500's ~20-25x. Not financial advice.
How frequently does PTJSY data refresh on this page?
PTJSY prices update in real time during U.S. market hours. Fundamentals refresh after quarterly filings; analyst ratings and AI insights update daily; news is aggregated continuously.
What has driven PTJSY's recent stock price performance?
PT Jasa Marga (Persero) Tbk (PTJSY) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Established market position in the Indonesian toll road sector. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider PTJSY overvalued or undervalued right now?
PT Jasa Marga (Persero) Tbk (PTJSY) trades at 5.5x earnings. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying PTJSY?
Before investing in PT Jasa Marga (Persero) Tbk (PTJSY), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) what Wall Street analysts recommend and their price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Why might investors consider adding PTJSY to a portfolio?
Key strength of PT Jasa Marga (Persero) Tbk (PTJSY): Established market position in the Indonesian toll road sector. Weigh rewards against risks and diversify. Not financial advice.
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- AI analysis is pending for PTJSY, which may provide additional insights.
- Information on Pramitha Wulanjani's background and track record is limited.
- The disclosure status of PTJSY on the OTC market is unknown.