Fact based stock research
Jasa Marga (IDX:JSMR)
ID1000108103
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For every stock, we judge its performance against its peers and rank it on a scale of 1 to 100. The higher the rank, the better the stock performs than its peers. And, we do this for six investment strategies:
Value - shows how good of a value the stock is. Green is "inexpensive"; red is "expensive".
Growth - shows a company's growth potential. Green is "high growth" expected; red is "tough times ahead".
Safety - relates to the amount of debt a company has. Green is low debt level; red is high debt level.
Combined Financial - this isn't an average of the first three ranks but rather a consolidated view across several financial indicators. Green = good; red = tread carefully.
(NEW) Sentiment - quantifies professional analyst ratings and holdings as well as market pulse. Green = positive sentiment; red = skepticism (Only available to Premium Subscribers).
(NEW) 360° View - the ultimate rating with all financial and non-financial indicators.
Jasa Marga stock research in summary
ANALYSIS: With an Obermatt Combined Rank of 57 (better than 57% compared with investment alternatives), Jasa Marga (Highways & Railtracks, Indonesia) shares have above-average financial characteristics compared with similar stocks. Shares of Jasa Marga are a good value (attractively priced) with a consolidated Value Rank of 83 (better than 83% of alternatives) but show below-average growth (Growth Rank of 29), and are riskily financed (Safety Rank of 42), which means above-average debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 57, is a buy recommendation based on Jasa Marga's financial characteristics. As the company Jasa Marga's key financial metrics exhibit good value (Obermatt Value Rank of 83) but low growth (Obermatt Growth Rank of 29) and risky financing practices (Obermatt Safety Rank of 42), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 83% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
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360° Viewnew| Country | Indonesia |
| Industry | Highways & Railtracks |
| Index | Good Governace Growth Markets, IDX Composite |
| Size class | Medium |
This stock has achievements: Top 10 Stock.
31-Jul-2025. Stock data may be delayed. Log in or sign up to get the most recent research.
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Review the performance ranks of the individual metrics that form each investment strategy.
Research History: Jasa Marga
| RESEARCH HISTORY | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 73 |
|
49 |
|
83 |
|
83 |
|
| GROWTH | ||||||||
| GROWTH | 85 |
|
75 |
|
55 |
|
29 |
|
| SAFETY | ||||||||
| SAFETY | 30 |
|
22 |
|
23 |
|
42 |
|
| SENTIMENT | ||||||||
| SENTIMENT | 91 |
|
100 |
|
99 |
|
new |
|
| 360° VIEW | ||||||||
| 360° VIEW | 85 |
|
74 |
|
83 |
|
new |
|
Combined financial peformance in Detail
ANALYSIS: With an Obermatt Combined Rank of 57 (better than 57% compared with investment alternatives), Jasa Marga (Highways & Railtracks, Indonesia) shares have above-average financial characteristics compared with similar stocks. Shares of Jasa Marga are a good value (attractively priced) with a consolidated Value Rank of 83 (better than 83% of alternatives) but show below-average growth (Growth Rank of 29), and are riskily financed (Safety Rank of 42), which means above-average debt burdens. ...read more
RECOMMENDATION: A Combined Rank of 57, is a buy recommendation based on Jasa Marga's financial characteristics. As the company Jasa Marga's key financial metrics exhibit good value (Obermatt Value Rank of 83) but low growth (Obermatt Growth Rank of 29) and risky financing practices (Obermatt Safety Rank of 42), it may be a risky investment, because debt in times of crises can make things worse. The good value, better than 83% of comparable companies, may indicate the company's future is challenging. If you believe that low growth is temporary or just due to a specific current event, you may conclude that the good value of the stock provides an attractive investment opportunity. Obermatt Premium subscribers can further check the stock’s Sentiment Ranks, which also flow into the Obermatt 360° View for investors. ...read more
| RESEARCH HISTORY | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| VALUE | ||||||||
| VALUE | 73 |
|
49 |
|
83 |
|
83 |
|
| GROWTH | ||||||||
| GROWTH | 85 |
|
75 |
|
55 |
|
29 |
|
| SAFETY | ||||||||
| SAFETY | 30 |
|
22 |
|
23 |
|
42 |
|
| COMBINED | ||||||||
| COMBINED | 78 |
|
47 |
|
64 |
|
57 |
|
Value Metrics in Detail
ANALYSIS: With an Obermatt Value Rank of 83 (better than 83% compared with alternatives) for 2025, Jasa Marga shares are significantly less expensive than comparable stocks. The Value Rank is based on consolidating four value indicators, with three out of four indicators above average for Jasa Marga. Price-to-Sales (P/S) is 60, which means that the stock price compared with what market professionals expect for future sales is lower than for 60% of comparable companies, indicating a good value regarding Jasa Marga's revenue size. The same is valid for expected Price to Profits (or Price / Earnings, P/E), more favorable than for 95% of alternatives, and it's also true for the Price-to-Book Capital ratio (also referred to as market-to-book ratio) with a Price-to-Capital Rank of 93. But, compared with other companies in the same industry, dividend yields are expected to be lower than average; only 42% of all competitors have even lower dividend yields than Jasa Marga (a Dividend Yield Rank of 42). 58% alternative investments in the same business provide a higher dividend yield. ...read more
RECOMMENDATION: The overall picture with a consolidated Value Rank of 83, is a buy recommendation based on Jasa Marga's stock price compared with the company's operational size and dividend yields. The below-average dividend yield may be a good sign, as it could mean the company has more attractive investment opportunities for the generated cash than to pay it out as dividends. A low dividend yield can also indicate a growth phase. We recommend further analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks, including the 360° View, before making an investment decision. ...read more
| VALUE METRICS | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| PRICE VS. REVENUES (P/S) | ||||||||
| PRICE VS. REVENUES (P/S) | 57 |
|
37 |
|
64 |
|
60 |
|
| PRICE VS. PROFITS (P/E) | ||||||||
| PRICE VS. PROFITS (P/E) | 68 |
|
59 |
|
87 |
|
95 |
|
| PRICE VS. CAPITAL (Market-to-Book) | ||||||||
| PRICE VS. CAPITAL (Market-to-Book) | 74 |
|
61 |
|
91 |
|
93 |
|
| DIVIDEND YIELD | ||||||||
| DIVIDEND YIELD | 29 |
|
32 |
|
41 |
|
42 |
|
| CONSOLIDATED RANK: VALUE | ||||||||
| CONSOLIDATED RANK: VALUE | 73 |
|
49 |
|
83 |
|
83 |
|
Growth Metrics in Detail
ANALYSIS: With an Obermatt Growth Rank of 29 (better than 29% compared with alternatives), Jasa Marga shows a below-average growth dynamic in its industry. There is limited momentum in this company. The Growth Rank is based on consolidating four value indicators, with half of the indicators below and half above average for Jasa Marga. Sales Growth has a rank of 55 which means that currently, professionals expect the company to grow more than 55% of its competitors. Capital Growth is also above 19% of competitors with a rank of 80. But Profit Growth only has a rank of 19, which means that currently professionals expect the company to grow its profits less than 81% of its competitors. And Stock Returns have also been below average with a rank of only 15. ...read more
RECOMMENDATION: The overall picture with a consolidated Growth Rank of 29, is a hold recommendation for growth and momentum investors. Profits are sometimes low if the company invests in the future. The positive revenue and capital investment outlook confirms such an interpretation. Both revenues and capital are solid growth indicators, and lower profits in such a case would be encouraging. But the investors see it differently by punishing the share price. Sometimes, Mister Market is not very reliable, because it is not uncommon for it to be volatile. Investors should look out for signs of growth expenditure that could justify low profit growth, and they may also find reasons why recent stock price developments don't confirm the growth outlook of operations. While operating growth indicators are not perfect, they are more reliable indicators for future performance than stock prices that can repeatedly surprise investors. While momentum is a popular investment factor, the value aspect might be the more important one, in the longer term. We recommend analyzing the stock with Obermatt’s Value, Safety, and Sentiment Ranks to arrive at a 360° View of the stock purchase case, especially since the growth performance is mixed here. ...read more
| GROWTH METRICS | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| REVENUE GROWTH | ||||||||
| REVENUE GROWTH | 75 |
|
92 |
|
39 |
|
55 |
|
| PROFIT GROWTH | ||||||||
| PROFIT GROWTH | 78 |
|
54 |
|
69 |
|
19 |
|
| CAPITAL GROWTH | ||||||||
| CAPITAL GROWTH | 100 |
|
11 |
|
70 |
|
80 |
|
| STOCK RETURNS | ||||||||
| STOCK RETURNS | 23 |
|
91 |
|
33 |
|
15 |
|
| CONSOLIDATED RANK: GROWTH | ||||||||
| CONSOLIDATED RANK: GROWTH | 85 |
|
75 |
|
55 |
|
29 |
|
Safety Metrics in Detail
ANALYSIS: With an Obermatt Safety Rank of 42 (better than 42% compared with alternatives), the company Jasa Marga has financing practices on the riskier side, which means that their overall debt burden is above the industry average. This doesn't mean that the business of Jasa Marga is also risky, it only means that the company is on the riskier side in respect to bankruptcy in case things turn sour, assuming that public reporting is correct. The Safety Rank is based on consolidating three financing indicators, with two out of three indicators above average for Jasa Marga. Leverage is at a rank of 53, meaning the company has a below-average debt-to-equity ratio. It has less debt than 53% of its competitors. Liquidity is also good at a rank of 52, meaning the company generates more profit to service its debt than 52% of its competitors. This indicates that the company is on the safer side when it comes to debt service. But Refinancing is lower at a rank of 9, which means that the portion of the debt that is about to be refinanced is above-average. It has more debt in the refinancing stage than 91% of its competitors. ...read more
RECOMMENDATION: With a consolidated Safety Rank of 42 (worse than 58% compared with alternatives), Jasa Marga has a financing structure that is riskier than that of its competitors. The refinancing issues could be a short-term problem, especially if the company has reputation issues. Banks and investors don't like to refinance debt if there are clouds on the horizon. For this reason, investors should look at the refinancing environment for Jasa Marga. Does it look safe that debt that is coming due can be covered with new debt? If that is the case, then the financing situation of the company is on the safer side. If not, it may be better to wait until refinancing has been completed and the Refinancing rank is good again. Investors may have a short-term debt challenge with Jasa Marga and should also compare Obermatt’s Value, Growth, and Sentiment Ranks before making a decision. ...read more
| SAFETY METRICS | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| LEVERAGE | ||||||||
| LEVERAGE | 20 |
|
30 |
|
35 |
|
53 |
|
| REFINANCING | ||||||||
| REFINANCING | 39 |
|
17 |
|
14 |
|
9 |
|
| LIQUIDITY | ||||||||
| LIQUIDITY | 30 |
|
33 |
|
37 |
|
52 |
|
| CONSOLIDATED RANK: SAFETY | ||||||||
| CONSOLIDATED RANK: SAFETY | 30 |
|
22 |
|
23 |
|
42 |
|
Sentiment Metrics in Detail
| SENTIMENT | 2022 | 2023 | 2024 | 2025 | ||||
|---|---|---|---|---|---|---|---|---|
| ANALYST OPINIONS | ||||||||
| ANALYST OPINIONS | n/a |
|
93 |
|
89 |
|
new |
|
| OPINIONS CHANGE | ||||||||
| OPINIONS CHANGE | 50 |
|
94 |
|
50 |
|
new |
|
| PRO HOLDINGS | ||||||||
| PRO HOLDINGS | 61 |
|
61 |
|
87 |
|
new |
|
| MARKET PULSE | ||||||||
| MARKET PULSE | 75 |
|
94 |
|
89 |
|
new |
|
| CONSOLIDATED RANK: SENTIMENT | ||||||||
| CONSOLIDATED RANK: SENTIMENT | 91 |
|
100 |
|
99 |
|
new |
|
Free stock analysis by the purely fact based Obermatt Method for Jasa Marga from July 31, 2025.
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