Company Valuation: PT Jasa Armada Indonesia Tbk

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 1,878,531 1,551,371 1,445,835 1,477,496 1,403,621 1,889,084
Change - -17.42% -6.8% 2.19% -5% 34.59%
Enterprise Value (EV) 1 1,356,400 928,583 881,137 1,108,011 1,022,200 1,407,973
Change - -31.54% -5.11% 25.75% -7.74% 37.74%
P/E 23.4x 11.4x 9.6x 9.37x 8.41x 9.62x
PBR 1.72x 1.34x 1.21x 1.19x 1.09x 1.39x
PEG - 0.2x 0.9x 2.01x 1.44x 0.5x
Capitalization / Revenue 2.7x 1.89x 1.48x 1.3x 1.04x 1.28x
EV / Revenue 1.95x 1.13x 0.9x 0.97x 0.76x 0.95x
EV / EBITDA 11.2x 4.62x 4.12x 4.91x 4.05x 4.75x
EV / EBIT 14.8x 5.79x 5.04x 6.01x 4.89x 5.7x
EV / FCF 5.76x 9.24x 10.4x 1,006x 3.46x 4.72x
FCF Yield 17.4% 10.8% 9.63% 0.1% 28.9% 21.2%
Dividend per Share 2 12.17 20.71 21.42 22.41 - -
Rate of return 3.42% 7.04% 7.82% 8% - -
EPS 2 15.19 25.86 28.55 29.88 31.62 37.22
Distribution rate 80.1% 80.1% 75% 75% - -
Net sales 1 696,561 820,161 980,168 1,138,537 1,345,030 1,474,808
EBITDA 1 121,413 201,093 213,644 225,703 252,476 296,710
EBIT 1 91,345 160,284 174,995 184,488 209,168 247,221
Net income 1 80,234 136,583 150,655 157,662 166,843 196,438
Net Debt 1 -522,131 -622,788 -564,698 -369,485 -381,421 -481,111
Reference price 2 356.00 294.00 274.00 280.00 266.00 358.00
Nbr of stocks (in thousands) 5,276,771 5,276,771 5,276,771 5,276,771 5,276,771 5,276,771
Announcement Date 4/8/21 3/29/22 4/13/23 3/28/24 3/25/25 3/17/26
1IDR in Million2IDR
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 77.7M
6.99x0.68x3.23x5.35% 48.57B
6.17x0.56x2.34x8.53% 35.66B
27.15x1.29x6.83x1.93% 25.74B
8.02x3.56x6.63x4.91% 19.68B
10.76x1.44x10.51x4.23% 18.65B
6.01x1.17x3.33x7.8% 17.26B
11.81x4.05x9.92x6.96% 16.28B
10.34x0.92x3.8x3.12% 16.1B
8.1x2.1x13.61x2.79% 16.12B
Average 10.60x 1.75x 6.69x 5.07% 21.41B
Weighted average by Cap. 10.32x 1.48x 5.80x 5.29%

Y-o-Y evolution of P/E

Valuation ratios - P/E - PT Jasa Armada Indonesia Tbk

Historical PBR trend

Valuation ratios - PBR - PT Jasa Armada Indonesia Tbk

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - PT Jasa Armada Indonesia Tbk

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - PT Jasa Armada Indonesia Tbk

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