ANALISIS VALUASI NILAI WAJAR SAHAM MENGGUNAKAN PENDEKATAN FREE CASH FLOW TO EQUITY DAN RELATIVE VALUATION (Studi pada Saham Sektor Telekomunikasi Periode 2014-2018)

RACHMANTYO, MAMAS ARIEF (2020) ANALISIS VALUASI NILAI WAJAR SAHAM MENGGUNAKAN PENDEKATAN FREE CASH FLOW TO EQUITY DAN RELATIVE VALUATION (Studi pada Saham Sektor Telekomunikasi Periode 2014-2018). S1 thesis, Universitas Mercu Buana.

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Abstract

This study aims to determine and analyze the fair value of shares using the Free Cash Flow to Equity and Relative Valuation method, as well as the right investment decision after knowing the fair value of shares of telecommunications sector companies listed on the Indonesia Stock Exchange (BEI) for the 2014- 2018. The sample used by 4 companies, selected by purposive sampling method. The data collection method uses the documentary method and library study (library research and online research). The data analysis method uses the stock valuation method including: Free Cash Flow to Equity (FCFE) and Relative Valuation. The steps in valuation begin with understanding literacy, analyzing financial statements, projecting growth and calculating the value of company shares. Based on the results of valuations using Free Cash Flow to Equity and Relative Valuation show that the stock prices of the four companies tend to be overvalued or the market value is higher than the fair value of the company's shares. The market prices of the four companies which tend to be greater than the fair value indicate that there are high expectations of the market for the company's shares, besides the small fair value indicates that there is a change in the company's strategic development plan. Investors should buy company shares to be used as a long-term investment with the company's fundamental considerations increasing. Keywords: Valuation, Fair Value, FCFE, Relative Valuation. Penelitian ini bertujuan untuk mengetahui dan menganalisis nilai wajar saham menggunakan metode Free Cash Flow to Equity dan Relative Valuation, serta keputusan investasi yang tepat dilakukan setelah mengetahui nilai wajar saham perusahaan sektor telekomunikasi yang terdaftar di Bursa Efek Indonesia (BEI) periode 2014-2018. Sampel yang dipergunakan sebanyak 4 perusahaan, dipilih dengan metode purposive sampling. Metode pengumpulan data menggunakan metode documenter dan studi kepustakaan (library research dan online research). Metode analisis data menggunakan metode metode valuasi saham antara lain : Free Cash Flow to Equity (FCFE) dan Relative Valuation. Langkah-langkah dalam valuasi dimulai dengan pemahaman literasi, analisis terhadap laporan keuangan, proyeksi pertumbuhan dan perhitungan nilai saham perusahaan. Berdasarkan hasil valuasi menggunakan Free Cash Flow to Equity dan Relative Valuation menunjukan bahwa harga saham dari keempat perusahaan cenderung overvalued atau nilai pasar saham lebih tinggi dari nilai wajar saham perseroan. Harga pasar saham dari keempat perusahaan yang cenderung lebih besar dari nilai wajar menunjukan bahwa adanya ekspektasi tinggi dari pasar terhadap saham perseroan, selain itu nilai wajar yang kecil menunjukan bahwa adanya perubahan rencana strategis pengembangan perusahaan. Investor sebaiknya melakukan pembelian saham perusahaan untuk dijadikan investasi jangka panjang dengan pertimbangan fundamental perusahaan yang terus meningkat. Kata Kunci: Valuasi, Nilai Wajar, FCFE, Relative Valuation.

Item Type: Thesis (S1)
Call Number CD: FE/MJ. 20 190
NIM/NIDN Creators: 43117110130
Uncontrolled Keywords: Valuasi, Nilai Wajar, FCFE, Relative Valuation.
Subjects: 600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi > 657.3 Financial Reporting (Financial Statements)/Laporan Keuangan > 657.32 Preparing Financial Statements/Menyiapkan Laporan Keuangan
600 Technology/Teknologi > 650 Management, Public Relations, Business and Auxiliary Service/Manajemen, Hubungan Masyarakat, Bisnis dan Ilmu yang Berkaitan > 657 Accounting/Akuntansi > 657.4 Specific Fields of Accounting/Bidang Akuntansi Tertentu > 657.48 Analytical (Financial) Accounting/Analisis (Keuangan) Akuntansi
Divisions: Fakultas Ekonomi dan Bisnis > Manajemen
Depositing User: Dede Muksin Lubis
Date Deposited: 14 Mar 2022 03:28
Last Modified: 13 Apr 2022 03:09
URI: http://repository.mercubuana.ac.id/id/eprint/57889

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