Jasa Marga Tbk

JK:JSMR Indonesia Infrastructure Operations
Market Cap
$1.37 Billion
Rp22.28 Trillion IDR
Market Cap Rank
#12882 Global
#86 in Indonesia
Share Price
Rp3070.00
Change (1 day)
-1.92%
52-Week Range
Rp3070.00 - Rp4480.00
All Time High
Rp6366.69
Categories
Companies in Indonesia Infrastructure Operations
About

PT Jasa Marga (Persero) Tbk develops, constructs, operates, manages, and maintains toll roads in Indonesia. The company offers road construction and maintenance services. It 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. The company was founded … Read more

Jasa Marga Tbk (JSMR) - Net Assets

Latest net assets as of December 2025: Rp62.36 Trillion IDR

Based on the latest financial reports, Jasa Marga Tbk (JSMR) has net assets worth Rp62.36 Trillion IDR as of December 2025.

Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rp160.00 Trillion) and total liabilities (Rp97.63 Trillion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.

Key Net Assets Metrics

Metric Value
Current Net Assets Rp62.36 Trillion
% of Total Assets 38.98%
Annual Growth Rate 17.72%
5-Year Change 144.55%
10-Year Change 281.68%
Growth Volatility 33.15

Jasa Marga Tbk - Net Assets Trend (2003–2025)

This chart illustrates how Jasa Marga Tbk's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.

Annual Net Assets for Jasa Marga Tbk (2003–2025)

The table below shows the annual net assets of Jasa Marga Tbk from 2003 to 2025.

Year Net Assets Change
2025-12-31 Rp62.36 Trillion +8.38%
2024-12-31 Rp57.54 Trillion +47.88%
2023-12-31 Rp38.91 Trillion +51.87%
2022-12-31 Rp25.62 Trillion +0.47%
2021-12-31 Rp25.50 Trillion +2.93%
2020-12-31 Rp24.78 Trillion +6.86%
2019-12-31 Rp23.19 Trillion +14.79%
2018-12-31 Rp20.20 Trillion +10.02%
2017-12-31 Rp18.36 Trillion +12.37%
2016-12-31 Rp16.34 Trillion +32.10%
2015-12-31 Rp12.37 Trillion +8.26%
2014-12-31 Rp11.42 Trillion +5.13%
2013-12-31 Rp10.87 Trillion +11.03%
2012-12-31 Rp9.79 Trillion +5.93%
2011-12-31 Rp9.24 Trillion +10.54%
2010-12-31 Rp8.36 Trillion +7.93%
2009-12-31 Rp7.75 Trillion +12.52%
2008-12-31 Rp6.88 Trillion +10.77%
2007-12-31 Rp6.21 Trillion +160.50%
2006-12-31 Rp2.39 Trillion +20.35%
2005-12-31 Rp1.98 Trillion +7.44%
2004-12-31 Rp1.85 Trillion +7.20%
2003-12-31 Rp1.72 Trillion --

Equity Component Analysis

This analysis shows how different components contribute to Jasa Marga Tbk's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

  • Retained earnings have grown by 3993.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component Amount Percentage
Retained Earnings Rp29.45 Trillion 81.01%
Common Stock Rp3.63 Trillion 9.98%
Other Comprehensive Income Rp-723.21 Billion -1.99%
Other Components Rp4.00 Trillion 10.99%
Total Equity Rp36.36 Trillion 100.00%

Jasa Marga Tbk Competitors by Market Cap

The table below lists competitors of Jasa Marga Tbk ranked by their market capitalization.

Company Market Cap
Syncmold Enterprise Corp
TW:1582
 		$298.69 Million
JPG
KLSE:5323
 		$298.69 Million
Molinos Agro SA
BA:MOLA
 		$298.71 Million
Hindustan Construction Company Limited
NSE:HCC
 		$298.73 Million
Zhejiang Orient Gene Biotech Co Ltd
SHG:688298
 		$298.55 Million
Whirlpool of India Limited
NSE:WHIRLPOOL
 		$298.54 Million
Delcath Systems Inc
NASDAQ:DCTH
 		$298.43 Million
AGF Management Limited
PINK:AGFMF
 		$298.43 Million

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Jasa Marga Tbk's equity between the two most recent reporting periods.

Equity Growth Insights

  • From 2024 to 2025, total equity changed from 34,043,034,000,000 to 36,355,614,000,000, a change of 2,312,580,000,000 (6.8%).
  • Net income of 3,659,535,000,000 contributed positively to equity growth.
  • Dividend payments of 1,133,891,000,000 reduced retained earnings.
  • Other comprehensive income decreased equity by 210,505,000,000.

Equity Change Factors (2024 to 2025)

Factor Impact Contribution
Net Income Rp3.66 Trillion +10.07%
Dividends Paid Rp1.13 Trillion -3.12%
Other Comprehensive Income Rp-210.50 Billion -0.58%
Other Changes Rp-2.56 Billion -0.01%
Total Change Rp- 6.79%

Book Value vs Market Value Analysis

This analysis compares Jasa Marga Tbk's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

  • Current price-to-book ratio: 0.61x
  • The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
  • The price-to-book ratio has decreased from 7.39x to 0.61x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date Book Value per Share Market Price P/B Ratio
2005-12-31 Rp415.43 Rp3070.00 x
2006-12-31 Rp499.99 Rp3070.00 x
2007-12-31 Rp1179.48 Rp3070.00 x
2008-12-31 Rp964.42 Rp3070.00 x
2009-12-31 Rp1057.67 Rp3070.00 x
2010-12-31 Rp1139.63 Rp3070.00 x
2011-12-31 Rp1226.32 Rp3070.00 x
2012-12-31 Rp1265.07 Rp3070.00 x
2013-12-31 Rp1365.25 Rp3070.00 x
2014-12-31 Rp1447.52 Rp3070.00 x
2015-12-31 Rp1532.13 Rp3070.00 x
2016-12-31 Rp2005.36 Rp3070.00 x
2017-12-31 Rp2080.18 Rp3070.00 x
2018-12-31 Rp2329.68 Rp3070.00 x
2019-12-31 Rp2574.13 Rp3070.00 x
2020-12-31 Rp2628.11 Rp3070.00 x
2021-12-31 Rp2839.10 Rp3070.00 x
2022-12-31 Rp3007.16 Rp3070.00 x
2023-12-31 Rp3842.92 Rp3070.00 x
2024-12-31 Rp4690.50 Rp3070.00 x
2025-12-31 Rp5009.13 Rp3070.00 x

Capital Efficiency Dashboard

This dashboard shows how efficiently Jasa Marga Tbk utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

  • Current Return on Equity (ROE): 10.07%
  • The company shows good efficiency in utilizing shareholder equity.
  • DuPont Analysis Breakdown:
  • • Net Profit Margin: 12.24%
  • • Asset Turnover: 0.19x
  • • Equity Multiplier: 4.40x
  • Recent ROE (10.07%) is below the historical average (13.02%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year Return on Equity Net Profit Margin Asset Turnover Equity Multiplier Economic Value Added
2005 15.52% 15.99% 0.20x 4.91x Rp109.39 Billion
2006 19.39% 20.15% 0.22x 4.30x Rp224.02 Billion
2007 4.68% 10.58% 0.19x 2.32x Rp-317.70 Billion
2008 10.98% 21.75% 0.23x 2.23x Rp64.70 Billion
2009 14.02% 27.74% 0.22x 2.25x Rp288.86 Billion
2010 15.30% 27.51% 0.23x 2.45x Rp410.49 Billion
2011 16.08% 27.66% 0.23x 2.57x Rp506.58 Billion
2012 18.60% 17.66% 0.37x 2.87x Rp740.98 Billion
2013 14.36% 12.98% 0.36x 3.05x Rp405.77 Billion
2014 14.22% 15.30% 0.29x 3.23x Rp416.81 Billion
2015 14.07% 14.89% 0.27x 3.52x Rp424.53 Billion
2016 13.81% 11.34% 0.31x 3.91x Rp521.40 Billion
2017 13.17% 5.67% 0.44x 5.25x Rp478.25 Billion
2018 13.03% 5.96% 0.45x 4.87x Rp511.75 Billion
2019 11.81% 8.38% 0.26x 5.34x Rp338.85 Billion
2020 -0.22% -0.30% 0.13x 5.46x Rp-1.95 Trillion
2021 4.23% 5.74% 0.15x 4.91x Rp-1.19 Trillion
2022 12.59% 16.56% 0.18x 4.18x Rp564.32 Billion
2023 24.36% 31.87% 0.16x 4.64x Rp4.00 Trillion
2024 13.32% 15.80% 0.20x 4.13x Rp1.13 Trillion
2025 10.07% 12.24% 0.19x 4.40x Rp23.97 Billion

Industry Comparison

This section compares Jasa Marga Tbk's net assets metrics with peer companies in the Infrastructure Operations industry.

Industry Context

  • Industry: Infrastructure Operations
  • Average net assets among peers: $3,089,186,416,922
  • Average return on equity (ROE) among peers: 11.60%

Peer Company Comparison

Company Net Assets Return on Equity Debt-to-Equity Market Cap
Jasa Marga Tbk (JSMR) Rp62.36 Trillion 15.52% 1.57x $298.66 Million
Benakat Petroleum Energy (BIPI) $405.58 Million 3.53% 1.35x $493.92 Million
Citra Marga Nusaphala Persada (CMNP) $11.77 Trillion 7.77% 0.56x $444.59 Million
Nusantara Infrastructure Tbk (META) $9.01 Billion 0.00% 8.45x $4.76 Million
Dana Brata Luhur PT (TEBE) $581.38 Billion 35.11% 0.55x $10.64 Million