Formed from the merger of Gojek and Tokopedia, the company provides a comprehensive suite of services including GoPay for digital payments, GoFood for food delivery, and Tokopedia's online marketplace, leveraging synergies between mobility and e-commerce to enhance user engagement and expand market reach. Digital adoption, urbanization, and growing middle class are expanding the user base, while tech investments and platform integration are boosting efficiency and unlocking fintech revenue streams.
Cyborg Score Rationale
Intensifying competition and regulatory uncertainty may hinder GoTo's ability to convert digital economy tailwinds into sustained revenue and earnings growth, while cost discipline challenges and credit risks could limit margin improvements. The company is navigating significant structural headwinds despite a large addressable market.
Top Insights
Revenue grew 7.5% to 15.89 trillion IDR in 2024 from 14.79 trillion IDR in 2023, with net losses significantly improved to -5,154.92 billion in 2024
Market cap of 63.5 trillion IDR as of February 9, 2026, having decreased 14.4% over the past year
Stock trading at 33.3% below fair value estimate, suggesting potential value opportunity despite headwinds
Integrated ecosystem across ride-hailing, food delivery, e-commerce, and fintech creates network effects and cross-selling opportunities
Named Competitors
Shopee — E-commerce marketplace platform
Grab — Ride-hailing and delivery services
OVO — Digital payment and fintech services
Recent Developments
(Feb 2026) Market capitalization at approximately 63.5 trillion IDR with ongoing stock price volatility
(Feb 2026) Company trading at significant discount to analyst fair value estimates
(2024) Revenue growth acceleration to 7.5% year-over-year with improving loss profile
Open the full interactive PT GoTo Gojek Tokopedia Tbk report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.