PT Jasa Marga (Persero) Tbk (PTJSF)
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 (PTJSF) trades at $0.17. PT Jasa Marga (Persero) Tbk is an Indonesian company focused on the development, construction, operation, and maintenance of toll roads. Market cap: $1.23B, Sector: Industrials.
Price live · AI analysis from Mar 16, 2026Analyst Coverage for PTJSF: PTJSF 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 PTJSF against Industrials peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
PTJSF: 1/1 perspectives are bearish.
How is this calculated? →PT Jasa Marga (Persero) Tbk (PTJSF) Industrial Operations Profile
PT Jasa Marga (Persero) Tbk, an Indonesian toll road operator founded in 1978, develops, constructs, and maintains toll roads. Operating 13 toll roads and offering related services like traffic management and real estate development, the company distinguishes itself through its established infrastructure network and a dividend yield of 5.09%.
What Is the Investment Thesis for PTJSF?
PT Jasa Marga (Persero) Tbk presents a compelling investment case based on its established position in Indonesia's growing infrastructure sector. The company's P/E ratio of 6.09 suggests potential undervaluation relative to its earnings. A dividend yield of 5.09% offers an attractive income stream for investors. Growth catalysts include ongoing infrastructure development projects in Indonesia and increasing traffic volume on existing toll roads. However, investors may want to evaluate potential risks such as regulatory changes and economic fluctuations impacting toll road usage. The company's beta of 0.04 indicates low volatility compared to the broader market.
Based on FMP financials and quantitative analysis
PTJSF Key Highlights
- PT Jasa Marga (Persero) Tbk operates 13 toll roads across Indonesia, providing a stable revenue base.
- The company's P/E ratio of 6.09 suggests a potentially undervalued stock compared to its earnings.
- A dividend yield of 5.09% offers an attractive income stream for investors.
- PT Jasa Marga's profit margin of 12.2% indicates efficient operations.
- The company's beta of 0.04 suggests low volatility compared to the broader market.
Who Are PTJSF's Competitors?
PTJSF 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 PTJSF's Key Strengths?
- Established market position in Indonesia.
- Extensive toll road network.
- Experienced management team.
- Stable revenue stream from toll collection.
What Are PTJSF's Weaknesses?
- Dependence on government infrastructure projects.
- Exposure to economic fluctuations in Indonesia.
- Potential for regulatory changes.
- Limited geographic diversification.
What Could Drive PTJSF Stock Higher?
- Government infrastructure spending in Indonesia, which could lead to new toll road projects for PT Jasa Marga.
- Increasing traffic volume on existing toll roads due to economic growth and urbanization.
- Real estate development opportunities along toll road corridors.
- Implementation of advanced toll collection systems to improve efficiency.
- Strategic partnerships with other infrastructure developers.
What Are the Key Risks for PTJSF?
- Financial-distress signal — its Altman Z-Score of 0.74 sits in the distress zone (elevated bankruptcy risk).
- Regulatory changes impacting toll road operations and revenue.
- Economic downturn in Indonesia reducing toll road usage.
- Increased competition from other construction companies.
- Rising construction costs affecting project profitability.
- Dependence on government infrastructure projects.
What Are the Growth Opportunities for PTJSF?
- Expansion of Toll Road Network: Indonesia's ongoing infrastructure development plans present significant opportunities for PT Jasa Marga to expand its toll road network. Government initiatives to improve connectivity between major cities and industrial zones will drive demand for new toll road projects. Securing contracts for these projects would increase revenue and market share. The timeline for these projects varies, but several are expected to commence within the next 3-5 years, representing a substantial growth opportunity.
- Increased Traffic Volume: As Indonesia's economy grows and urbanization increases, traffic volume on existing toll roads is expected to rise. This organic growth will translate directly into higher toll revenue for PT Jasa Marga. The company can further capitalize on this trend by implementing strategies to optimize traffic flow and enhance the user experience. This growth is anticipated to be steady over the next decade, aligning with Indonesia's long-term economic development.
- Real Estate Development: PT Jasa Marga's land holdings along its toll road corridors provide opportunities for real estate development. The company can develop commercial and residential properties to generate additional revenue streams. This diversification strategy can reduce reliance on toll revenue and enhance overall profitability. These projects typically have longer development timelines, with returns expected over a 5-10 year horizon.
- Technological Innovation: Implementing advanced toll collection systems and traffic management technologies can improve operational efficiency and reduce costs. Investing in smart technologies can also enhance the user experience and attract more customers. This includes exploring electronic toll collection (ETC) systems and real-time traffic monitoring. The adoption of these technologies is expected to accelerate over the next 2-3 years, driven by government initiatives and industry trends.
- Strategic Partnerships: Forming strategic partnerships with other construction companies and infrastructure developers can enhance PT Jasa Marga's capabilities and expand its reach. Collaborating on large-scale projects can reduce risk and increase the likelihood of success. These partnerships can also provide access to new markets and technologies. The company can actively pursue these partnerships over the next year to strengthen its competitive position.
What Opportunities Does PTJSF Have?
- Expansion into new toll road projects.
- Development of real estate along toll road corridors.
- Adoption of advanced toll collection technologies.
- Strategic partnerships with other infrastructure developers.
What Threats Does PTJSF Face?
- Increased competition from other construction companies.
- Rising construction costs.
- Delays in government approvals.
- Economic downturn impacting toll road usage.
What Are PTJSF's Competitive Advantages?
- Established toll road network in Indonesia.
- Long-term concession agreements with the government.
- Expertise in toll road development and management.
- Strategic land holdings along toll road corridors.
What Does PTJSF Do?
Founded in 1978 and headquartered in Jakarta, Indonesia, PT Jasa Marga (Persero) Tbk has grown to become a key player in the development and management of Indonesia's toll road infrastructure. The company's core business involves the development, construction, operation, management, and maintenance of toll roads. Beyond its primary function, PT Jasa Marga provides toll road services, including transaction and traffic management, and road construction. The company also engages in renting toll road equipment and vehicles, and has expanded into real estate development, leveraging its extensive infrastructure network. Currently, PT Jasa Marga operates 13 toll roads across Indonesia, playing a vital role in facilitating transportation and economic growth. With a workforce of 7,977 employees, the company continues to focus on expanding its toll road network and enhancing its service offerings.
What Products and Services Does PTJSF Offer?
- Develops and constructs toll roads in Indonesia.
- Operates and manages toll roads.
- Maintains toll road infrastructure.
- Provides transaction services for toll collection.
- Offers traffic management services.
- Engages in road construction services.
- Rents toll road equipment and vehicles.
- Develops real estate properties along toll road corridors.
How Does PTJSF Make Money?
- Generates revenue from toll collection on operated roads.
- Provides construction services for new toll road projects.
- Rents equipment and vehicles for toll road operations.
- Develops and sells or leases real estate properties.
What Industry Does PTJSF Operate In?
PT Jasa Marga (Persero) Tbk operates within the Indonesian engineering and construction sector, specifically focusing on toll road infrastructure. The industry is driven by government initiatives to improve connectivity and support economic growth. The competitive landscape includes both domestic and international players involved in infrastructure development. As Indonesia's economy continues to expand, the demand for efficient transportation networks is expected to increase, benefiting companies like PT Jasa Marga. The company's established presence and operational experience provide a competitive advantage in securing new projects and maintaining existing toll roads.
Who Are PTJSF's Key Customers?
- Individual motorists using toll roads.
- Commercial vehicles and logistics companies.
- Government agencies involved in infrastructure development.
- Real estate buyers and tenants.
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. PTJSF trades at a trailing price-to-earnings ratio of 6.04, below the Industrials sector average of ~30x. Its free cash flow yield is 20.0%, 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 16.5%, the inverse of the P/E and a quick read on earnings relative to price.
PT Jasa Marga (Persero) Tbk (PTJSF) Valuation Context
Valued at $1.23B, PTJSF is classified as a small-cap stock.
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. PTJSF has traded publicly since 2012.
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 0.74 places it in the distress zone, a signal of elevated financial risk.
FY2026 estForward Outlook
Wall Street analysts project PT Jasa Marga (Persero) Tbk revenue of about $21.77T for fiscal 2026, with EPS near $515.35. The estimate reflects 8 contributing analysts.
PTJSF Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Established market position in Indonesia.
- Extensive toll road network.
- Experienced management team.
- Stable revenue stream from toll collection.
Bear Case
- Dependence on government infrastructure projects.
- Exposure to economic fluctuations in Indonesia.
- Potential for regulatory changes.
- Limited geographic diversification.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · July 2026
PTJSF Latest News
No recent news available for PTJSF.
PTJSF Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for PTJSF.
Price Targets
Wall Street price target analysis for PTJSF.
PTJSF MoonshotScore
What does this score mean?
The MoonshotScore rates PTJSF's growth potential on a scale of 0-100 across multiple factors including innovation, market disruption, financial health, and momentum.
Leadership: Pramitha Wulanjani
Managing Director
Pramitha Wulanjani serves as the Managing Director of PT Jasa Marga (Persero) Tbk, overseeing the operations and strategic direction of the company. With extensive experience in infrastructure development and management, Pramitha has held various leadership positions within the industry. Her background includes a strong focus on project management, financial planning, and stakeholder engagement. Pramitha's expertise is crucial in driving PT Jasa Marga's growth and maintaining its position as a leading toll road operator in Indonesia.
Track Record: Under Pramitha Wulanjani's leadership, PT Jasa Marga has focused on expanding its toll road network and improving operational efficiency. Key achievements include securing new infrastructure projects and implementing advanced toll collection systems. Pramitha has also emphasized sustainable development practices and community engagement, contributing to the company's long-term success. Her strategic decisions have helped PT Jasa Marga navigate regulatory challenges and maintain profitability.
PTJSF OTC Market Information
The OTC Other tier represents the lowest tier of the OTC market, indicating that PTJSF may not meet the minimum financial standards or reporting requirements of higher tiers like OTCQX or OTCQB. Companies in this tier may have limited financial disclosure, potentially increasing investment risk. Unlike stocks listed on major exchanges like the NYSE or NASDAQ, OTC Other stocks often have less stringent listing requirements, resulting in a wider range of companies, including those with limited operating history or financial resources. Investors should exercise caution and conduct thorough due diligence before investing in OTC Other stocks.
- OTC Tier: OTC Other
- Disclosure Status: Unknown
- Limited financial disclosure due to OTC Other tier status.
- Lower liquidity compared to stocks on major exchanges.
- Potential for price volatility due to limited trading volume.
- Higher risk of fraud or manipulation.
- Lack of regulatory oversight compared to listed companies.
- Verify the company's registration and legal standing.
- Review available financial statements and disclosures.
- Assess the company's business model and competitive landscape.
- Check for any regulatory actions or legal disputes.
- Evaluate the management team's experience and track record.
- Understand the risks associated with investing in OTC stocks.
- Consult with a financial advisor before investing.
- Established history of toll road operations in Indonesia.
- Positive financial performance, including a profit margin of 12.2%.
- Dividend yield of 5.09%, indicating a commitment to shareholder returns.
- Operation of 13 toll roads, demonstrating a significant infrastructure network.
- Presence of a CEO and management team.
What Investors Ask About PT Jasa Marga (Persero) Tbk (PTJSF) — Industrials
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. The company generates revenue primarily through toll collection on its network of 13 toll roads. Additionally, it offers services such as traffic management and road construction. PT Jasa Marga also engages in real estate development along its toll road corridors, diversifying its revenue streams and leveraging its existing infrastructure. The company plays a crucial role in Indonesia's transportation infrastructure.
What are the main risks for PTJSF?
The main risks for PTJSF include regulatory changes affecting toll road operations, economic downturns in Indonesia impacting toll road usage, increased competition from other construction companies, and rising construction costs affecting project profitability. The company's dependence on government infrastructure projects also poses a risk, as delays or changes in government spending can impact its growth prospects. Additionally, the OTC market listing introduces risks related to liquidity and transparency.
What are the key factors to evaluate for PTJSF?
Evaluate PTJSF on fundamentals, analyst consensus, and risk factors. Not financial advice.
How frequently does PTJSF data refresh on this page?
PTJSF 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 PTJSF's recent stock price performance?
PT Jasa Marga (Persero) Tbk (PTJSF) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Established market position in Indonesia. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider PTJSF overvalued or undervalued right now?
Valuing PT Jasa Marga (Persero) Tbk (PTJSF) requires multiple metrics. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
What research should beginners do before buying PTJSF?
Before investing in PT Jasa Marga (Persero) Tbk (PTJSF), 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 PTJSF to a portfolio?
Key strength of PT Jasa Marga (Persero) Tbk (PTJSF): Established market position in Indonesia. 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 pending for PTJSF
- OTC market data may have limited availability.