PT Jasa Armada Indonesia TbkISX:IPCM 94 Piotroski F-Score is 6 as of Jun. 30, 2026, which is 14% below its 10-year median of 7.00. GuruFocus rates ISX:IPCM with a GF Score™ of 94/100 and a GF Value™ of Rp349.85 (Fairly Valued). The stock has 4 warning signs investors should review. Among 973 Transportation companies, PT Jasa Armada Indonesia Tbk ranks better than 72.25% on this metric.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Jasa Armada Indonesia Tbk has an F-score of 6 indicating the company's financial situation is typical for a stable company.
The historical rank and industry rank for PT Jasa Armada Indonesia Tbk's Piotroski F-Score or its related term are showing as below:
ISX:IPCM'
s Piotroski F-Score Range Over the Past 10 Years
Min: 4 Med: 7 Max: 9
Current: 6
During the past 10 years, the highest Piotroski F-Score of PT Jasa Armada Indonesia Tbk was 9. The lowest was 4. And the median was 7.
PT Jasa Armada Indonesia Tbk (ISX:IPCM) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
PT Jasa Armada Indonesia Tbk Piotroski F-Score Related Terms
PT Jasa Armada Indonesia Tbk Piotroski F-Score Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
PT Jasa Armada Indonesia Tbk Piotroski F-Score Chart
PT Jasa Armada Indonesia Tbk Piotroski F-Score Competitor Comparison
For the Marine Shipping subindustry, PT Jasa Armada Indonesia Tbk's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
PT Jasa Armada Indonesia Tbk Piotroski F-Score vs Transportation Industry
For the Transportation industry and Industrials sector, PT Jasa Armada Indonesia Tbk's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where PT Jasa Armada Indonesia Tbk's Piotroski F-Score falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Mar26) TTM:
Last Year (Mar25) TTM:
Net Income was 45789.084 + 50647.342 + 55765.733 + 45573.881 = Rp197,776 Mil. Cash Flow from Operations was -30626.636 + 158730.82 + 152712.501 + 102094.067 = Rp382,911 Mil. Revenue was 358592.912 + 379365.919 + 381439.006 + 347222.264 = Rp1,466,620 Mil. Gross Profit was 64591.662 + 108791.135 + 160723.562 + 95102.545 = Rp429,209 Mil.
Average Total Assets from the begining of this year (Mar25)
to the end of this year (Mar26) was
(1702139.167 + 1737527.313 + 1711477.834 + 1714517.44 + 1789843.109) / 5 = Rp1731100.9726 Mil. Total Assets at the begining of this year (Mar25) was Rp1,702,139 Mil. Long-Term Debt & Capital Lease Obligation was Rp2,941 Mil. Total Current Assets was Rp1,094,259 Mil. Total Current Liabilities was Rp381,534 Mil.
Net Income was 39755.98 + 42831.249 + 45740.918 + 44235.733 = Rp172,564 Mil.
Revenue was 305382.066 + 347868.693 + 398409.549 + 355409.737 = Rp1,407,070 Mil. Gross Profit was 61694.711 + 87402.492 + 193499.761 + 95684.172 = Rp438,281 Mil.
Average Total Assets from the begining of last year (Mar24)
to the end of last year (Mar25) was
(1576747.574 + 1589586.151 + 1538454.254 + 1649981.015 + 1702139.167) / 5 = Rp1611381.6322 Mil. Total Assets at the begining of last year (Mar24) was Rp1,576,748 Mil. Long-Term Debt & Capital Lease Obligation was Rp6,736 Mil. Total Current Assets was Rp1,004,998 Mil. Total Current Liabilities was Rp362,058 Mil.
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
PT Jasa Armada Indonesia Tbk's current Net Income (TTM) was 197,776.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
PT Jasa Armada Indonesia Tbk's current Cash Flow from Operations (TTM) was 382,911.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
PT Jasa Armada Indonesia Tbk's return on assets of this year was 0.11619264. PT Jasa Armada Indonesia Tbk's return on assets of last year was 0.10944293.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
PT Jasa Armada Indonesia Tbk's gearing of this year was 0.00169875. PT Jasa Armada Indonesia Tbk's gearing of last year was 0.00418005.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
PT Jasa Armada Indonesia Tbk's current ratio of this year was 2.8680476. PT Jasa Armada Indonesia Tbk's current ratio of last year was 2.7757958.
==> This year's current ratio is higher. ==> Score 1.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
PT Jasa Armada Indonesia Tbk's number of shares in issue this year was 5284.811. PT Jasa Armada Indonesia Tbk's number of shares in issue last year was 5276.771.
==> There is larger number of shares in issue this year. ==> Score 0.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
PT Jasa Armada Indonesia Tbk's gross margin of this year was 0.29265173. PT Jasa Armada Indonesia Tbk's gross margin of last year was 0.31148495.
==> Last year's gross margin is higher ==> Score 0.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
PT Jasa Armada Indonesia Tbk's asset turnover of this year was 0.86163348. PT Jasa Armada Indonesia Tbk's asset turnover of last year was 0.89238764.
==> Last year's asset turnover is higher ==> Score 0.
Evaluation
Piotroski F-Score
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6
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
PT Jasa Armada Indonesia Tbk has an F-score of 6 indicating the company's financial situation is typical for a stable company.
PT Jasa Armada Indonesia Tbk (ISX:IPCM) has a Piotroski F-Score of 6 as of Jun. 30, 2026. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on PT Jasa Armada Indonesia Tbk and its competitors. This is 14% below median its historical median of 7.00. Over the past decade, PT Jasa Armada Indonesia Tbk's Piotroski F-Score has ranged from 4.00 to 9.00. According to the industry distribution chart, PT Jasa Armada Indonesia Tbk ranks #270 out of 973 companies in the Transportation industry, placing it in the top 27.7%.
Is PT Jasa Armada Indonesia Tbk's Piotroski F-Score too high?
PT Jasa Armada Indonesia Tbk's current Piotroski F-Score of 6 is 14% below median its 10-year median of 7.00. Over the past 10 years, this metric has ranged from a low of 4.00 to a high of 9.00. The Transportation industry median Piotroski F-Score is 6.00. PT Jasa Armada Indonesia Tbk's value of 6 is 0% at this industry median. Based on the distribution chart, PT Jasa Armada Indonesia Tbk ranks #270 out of 973 companies in the Transportation industry, which is above the industry midpoint. Overall, PT Jasa Armada Indonesia Tbk has a GF Score™ of 94/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does PT Jasa Armada Indonesia Tbk's Piotroski F-Score compare to competitors?
According to the Transportation industry distribution chart, PT Jasa Armada Indonesia Tbk ranks #270 out of 973 companies for Piotroski F-Score. This puts PT Jasa Armada Indonesia Tbk in the upper half of its industry. The industry median Piotroski F-Score is 6.00. PT Jasa Armada Indonesia Tbk's value of 6 is 0% at this benchmark. Historically, PT Jasa Armada Indonesia Tbk's own Piotroski F-Score has ranged from 4.00 to 9.00 over the past decade. While the company's 10-year median is 7.00 vs. the industry median of 6.00, PT Jasa Armada Indonesia Tbk has consistently been at the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Piotroski F-Score for a Transportation company?
The median Piotroski F-Score among Transportation companies is 6.00, based on 973 companies in the industry. Companies in the top quartile (top 25%) have a Piotroski F-Score significantly above this median, while those in the bottom quartile fall well below. However, Piotroski F-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. PT Jasa Armada Indonesia Tbk's current Piotroski F-Score of 6 is 0% at the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Piotroski F-Score mean?
A high Piotroski F-Score can signal that a stock is expensive relative to its fundamentals. The Piotroski F-score grades a company's business operating strength from 0-9. View historical data on PT Jasa Armada Indonesia Tbk and its competitors. For the Transportation industry, the median Piotroski F-Score is 6.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. PT Jasa Armada Indonesia Tbk's current Piotroski F-Score is 6, which is 14% below median its own 10-year median of 7.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is PT Jasa Armada Indonesia Tbk stock overvalued right now?
Based on GuruFocus' analysis, PT Jasa Armada Indonesia Tbk (ISX:IPCM) is currently considered Fairly Valued. The stock's GF Value™ is Rp349.85, compared to a current price of Rp328.00 — trading 6.2% below its estimated fair value. The current Piotroski F-Score is 6, which is 14% below median its 10-year median of 7.00 and 0% at the Transportation industry median of 6.00. PT Jasa Armada Indonesia Tbk's overall GF Score™ is 94/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Piotroski F-Score calculated?
Piotroski F-Score is calculated from a company's financial statements. For PT Jasa Armada Indonesia Tbk (ISX:IPCM), the current Piotroski F-Score is 6 as of Jun. 30, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is PT Jasa Armada Indonesia Tbk (ISX:IPCM) Overvalued in 2026?
Based on GuruFocus' analysis, PT Jasa Armada Indonesia Tbk stock appears to be undervalued.
The current stock price of Rp328.00 is trading 6.2% below its estimated GF Value™ of Rp349.85.
GuruFocus considers PT Jasa Armada Indonesia Tbk to be Fairly Valued.
Key valuation signals for ISX:IPCM:
Piotroski F-Score: 6 (14% below median its 10-year median of 7.00)
GF Value™: Rp349.85 vs. price of Rp328.00 (6.2% below fair value)
Industry Position: 0% at the Transportation median (#270 of 973)
No single metric tells the full story. See the ISX:IPCM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
PT Jasa Armada Indonesia Tbk is engaged in pilotage and towage services for container vessels, dry and liquid bulk, inland waterways, and offshore STS. The company also provides fleet maintenance services. The company's operating segments are Vessel Services, and Freight Services & Other Services. The company generates maximum revenue from the Vessel services segment.
94GF Score
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