EVALUASI KONDISI SAHAM MELALUI ANALISIS FUNDAMENTAL DENGAN METODE DIVIDEND DISCOUNT MODEL (DDM) TERHADAP KEPUTUSAN INVESTASI PADA PERUSAHAAN SUB SEKTOR PULP AND PAPER YANG TERDAFTAR DI BEI PERIODE 2011-2015

2018 ◽  
Vol 3 (2) ◽  
pp. 1-13
Author(s):  
Astria Semaradilla Syari
Keyword(s):  
Intrinsic Value ◽  
Investment Decisions ◽  
Pulp And Paper ◽  
Fundamental Analysis ◽  
Dividend Discount Model

The purpose of this study was to: (1) determine the condition of stocks through fundamental analysis by the DDM on the company's pulp and paper subsectors period 2011-2015; (2) determine the company's investment decisions pulp and paper subsectors period 2011-2015. The results of this study indicate that (1) the highest intrinsic value is at PT Fajar Surya Wisesa Tbk which is equal to 924.7226 and the lowest intrinsic value is at Paper Factory PT Tjiwi Kimia Tbk, which amounted -1,787,541; (2) The company PT kedawung Setia Industrial Tbk in the period 2011-2015 has a condition undervalued stocks. Meanwhile, other companies namely PT Alkindo Naratama Tbk, PT Fajar Surya Wisesa Tbk, PT Indah Kiat Pulp & Paper Tbk, PT Suparma Tbk, and PT Pabrik Kertas Tjiwi Kimia Tbk experienced overvalued.  

scholarly journals ANALISIS PENILAIAN HARGA WAJAR SAHAM DAN KEPUTUSAN INVESTASI SECARA FUNDAMENTAL DENGAN MENGGUNAKAN METODE PRICE EARNING RATIO (Studi Keuangan Pada Sektor Industri Barang Konsumsi Yang Terdaftar Di BEI)

2019 ◽  
Vol 20 (2) ◽  
pp. 1
Author(s):  
Aneu Lutfiana ◽  
R. Deni Muhammad Danial ◽  
Dicky Jhoansyah
Keyword(s):  
Pharmaceutical Industry ◽  
Intrinsic Value ◽  
Investment Decision ◽  
Investment Decisions ◽  
Sampling Technique ◽  
Fundamental Analysis ◽  
Fair Price ◽  
Stock Valuation ◽  
Ratio Approach ◽  
Quantitative Descriptive

This study aims to determine the fair price of shares and investment decisions fundamentallyby using the Price Earning Ratio approach seen from the development of the company’sfinancial condition. The fundamental variables used are ROE, EPS, DPS, PER, DPR. The typeof research used is quantitative descriptive. This study analyzed six companies as a sample,namely PT Delta Djakarta Tbk, PT Indofood Sukses Makmur Tbk, PT Kalbe Farma Tbk, PTMulti Bintang Indonesia Tbk, PT Jamu and Pharmaceutical Industry Sido Muncul Tbk and PTTempo Scan Pacific Tbk. The sample was obtained using purposive sampling technique. Theresults of this study indicate that PT. Delta Djakarta Tbk is in an overvalued position so thatthe investment decision that can be taken is by selling the shares. While PT Indofood SuksesMakmur Tbk, PT Kalbe Farma Tbk and PT Jamu and Pharmaceutical Industry Sido Muncul Tbkare in a correctly valued position so that the investment decision that can be taken is by holdingthe shares. While PT Multi Bintang Indonesia Tbk and PT. Tempo Scan Pacific Tbk is in anundervalued position so that the investment decision that can be taken is by buying the shares. Keywords: Stock Valuation, Fundamental Analysis, Price Earning Ratio, Intrinsic Value, Investment Decision

scholarly journals ANALISIS NILAI SAHAM DENGAN DIVIDEND DISCOUNT MODEL (DDM) (Studi kasus Perusahaan Tekstil Dan Garmen Yang Terdaftar Di Bursa Efek Indonesia Tahun 2018)

2019 ◽  
Vol 5 (2) ◽  
Author(s):  
Yuliah Yuliah ◽  
Leni Triana ◽  
Ihwan Satria Lesmana
Keyword(s):  
Quantitative Research ◽  
Stock Exchange ◽  
Intrinsic Value ◽  
Investment Decisions ◽  
Market Value ◽  
Sampling Technique ◽  
Stock Valuation ◽  
Research Objects ◽  
Dividend Discount Model ◽  
Constant Growth

AbstrakPenilaian saham digunakan untuk membandingkan antara nilai intrinsik dan nilai pasar saham, yang mana akhirnya akan dijadikan sebagai dasar keputusan investasi apakah investor akan menjual atau membeli saham. penelitian ini bertujuan untuk mengetahui dan manganalisa hasil dari perhitungan penilaiain saham menggunakan Dividend Discount Model (DDM) dengan model pertumbuhan konstan. Metode  penelitian yang digunakan adalah deskriptif kuantitatif dengan objek penelitian pada perusahaan tekstil dan garmen yang terdaftar di Bursa efek Indonesia tahun 2018. Teknik pengambilan sampel menggunakan puposive sampling dan didapat 5 sampel penelitian. Hasil penelitian ini menunjukkan bahwa dari 5 perusahaan memiliki hasil yang berbeda, dimana saham BELL dan RICY berada dalam kondisi overvalued karena nilai intrinsik lebih rendah dibanding dengan nilai pasar, sedangkan pada saham PBRX, SRIL dan TRIS berada pada posisi undervalued karena nilai intrinsik lebih tinggi dibandingkan dengan nilai pasar.Kata Kunci: Nilai Saham, Dividend Discount Model.AbstractStock valuation uses to compare between intrinsic value and stock market value, which ultimately will be used as a basis for investment decisions whether investors will sell or buy shares. This study aimed to determine and analyze the results of stock valuation calculations using the Dividend Discount Model (DDM) with a constant growth model. The research method used is descriptive quantitative research objects in textile and garment companies listed on the Indonesia Stock Exchange in 2018. The sampling technique uses purposive sampling and obtained five research samples. The results of this study indicate that all of the five companies having different effects. Where BELL and RICY shares were in overvalued conditions because the intrinsic value was lower than the market value, while in PBRX, SRIL and TRIS stocks undervalued because the inherent value is higher than with market value.Keywords: Stock Valuation, Dividend Discount Model.

scholarly journals KESEHATAN KEUANGAN DAN VALUASI BJBR MENGGUNAKAN RISK BASED BANK RATING METHOD

2021 ◽  
Vol 3 (1) ◽  
pp. 197-208
Author(s):  
Agung Dinarjito ◽  
Dinar Arisandy
Keyword(s):  
Financial Services ◽  
Quantitative Research ◽  
Intrinsic Value ◽  
Financial Statements ◽  
Share Price ◽  
Value Analysis ◽  
Rating Method ◽  
Dividend Discount Model ◽  
The Government ◽  
The Impact

The COVID-19 pandemic has given an impact on the health of banks in Indonesia, one of which is the West Java and Banten Bank (BJBR). This study aims to assess the health of BJBR before and during the covid-19 pandemic and to find the intrinsic value of BJBR shares that can be used as an evaluation of the company's performance. This research is a descriptive quantitative research. BJBR health analysis was carried out using the Risk Based Rating or RGEC and the intrinsic value analysis was carried out using the Dividend Discount Model (DDM). The authors used data from the 2018-2020 of BJBR financial statements. The results showed that in general, the soundness of BJBR was very healthy and the intrinsic value of BJBR's shares was Rp. 1,659.33 or BJBR's share price is currently sold below its intrinsic value. This research is expected to provide information on the impact of the pandemic on banking, especially BJBR so that the Government and the Financial Services Authority can provide support to banks. In addition, this research can be used as a reference by investors who are interested in BJBR shares. Pandemi covid-19 telah memberikan dampak pada kesehatan perbankan di Indonesia, salah satunya Bank Jawa Barat dan Banten (BJBR). Penelitian ini bertujuan untuk untuk menilai kesehatan BJBR sebelum dan selama pandemi covid-19 serta untuk mencari nilai intrinsik saham BJBR yang dapat digunakan sebagai evaluasi kinerja perusahaan. Penelitian ini merupakan penelitian kuantitatif deskriptif. Analisis kesehatan BJBR dilakukan dengan menggunakan Risk Based Rating atau RGEC dan analisis nilai intrinsik dilakukan dengan Dividend Discount Model (DDM). Penulis menggunakan data laporan keuangan BJBR tahun 2018-2020. Hasil penelitian menunjukkan bahwa secara umum, tingkat kesehatan BJBR adalah sangat sehat dan nilai intrinsik saham BJBR adalah Rp1.659,33 atau harga saham BJBR saat ini dijual di bawah nilai intrinsiknya. Penelitian ini diharapkan dapat memberikan informasi dampak pandemic terhadap perbankan, khususnya BJBR agar Pemerintah dan Ototritas Jasa Keuangan dapat memberikan dukungan kepada bank. Selain itu, penelitian ini dapat digunakan sebagai acuan oleh investor yang tertarik saham BJBR.

scholarly journals A study on technical analysis of s&p cnx nifty index

2013 ◽  
Vol 1 (1) ◽  
pp. 171-181
Author(s):  
Ragupathi M ◽  
Arthi B
Keyword(s):  
Intrinsic Value ◽  
Technical Analysis ◽  
Fundamental Analysis ◽  
Past Performance ◽  
Price Movement ◽  
Factors Affecting ◽  
The Past ◽  
Future Performance ◽  
The Difference ◽  
Future Growth

Technical analysts do not attempt to measure a security's intrinsic value; instead they look at stock charts for patterns and indicators that will determine a stock's future performance. The use of past performance should come as no surprise. People using fundamental analysis have always looked at the past performance of companies by comparing fiscal data from previous quarters and years to determine future growth. The difference lies in the technical analyst's belief thatsecurities move according to very predictable trends and patterns. These trends continue until something happens to change the trend, and until this change occurs, price levels are predictable. There are many instances of investors successfully trading a security using only their knowledge of the security's chart, without even understanding what the company does. However, although technical analysis is a terrific tool, most agree it is much more effective when used in combination with fundamental analysis. The technical analysis reveals the peaks, bottoms, trends, patterns and other factors affecting a stock‘s price movement and then makes buy/sell decisions based on those factors. The tools namely RSI and EMA have been used to predict the index price movement of S&P CNX Nifty.

scholarly journals Analisis Fundamental Saham Terhadap Pertumbuhan Perusahaan STUDI KASUS PADA PT. HOLCIM INDONESIA, TBK.

2013 ◽  
Vol 1 (3) ◽  
pp. 205-212
Author(s):  
Annaria Magdalena Marpaung
Keyword(s):  
Capital Structure ◽  
Intrinsic Value ◽  
Market Price ◽  
Market Value ◽  
Financial Statements ◽  
Fundamental Analysis ◽  
Economic Data ◽  
Public Companies ◽  
The Impact ◽  
Positive Effect

Fundamental analysis is a method of analysis using the fundamental strength of a country. In general, the fundamental strength of a country is shown by the country’s economic data. Fundamental analysis states that every stock has an intrinsic value. This analysis attempts to calculate the intrinsic value of a stock by using the fundamental data of the “ Company’s Financial Statements “, such as earning devidends, sales, capital structure, risk etc. This analysis will compare the intrinsic value with the market value to determine whether the market price of shares has reflected its intrinsic value or has not. The purpose of this study is to find out the company’s fundamental analysis with the liquidity ratio, the company’s growth, and the impact of the analysis on the company’s growth. The result of the research indicates that the two public companies analyzed for six years in terms of cash and cash equivalents, inventories, current assets and current liabilities is that PT. Holcim Indonesia, Tbk was stable. Concerning profit growth, PT. Holcim Indonesia, Tbk yielded profit. The analysis of those factors shows that it has positive effect for PT. Holcim Indonesia, Tbk which causes many investors will invest their funds. Keywords : Fundamental analysis; liquidity ratio; company’s growth

scholarly journals Analisis Valuasi Saham Pt. Semen Indonesia (Persero) Tbk Dengan Metode Discounted Cash Flow (DCF)

2018 ◽  
Vol 1 (2) ◽  
Author(s):  
Dina Yeni Martia ◽  
Wiwik Setyawati ◽  
Yuli Hastuti
Keyword(s):  
Cash Flow ◽  
Stock Price ◽  
Investment Decisions ◽  
Fundamental Analysis ◽  
Discounted Cash Flow ◽  
The Future ◽  
The Right

As an investors should be able to consider and conduct an assessment of shares that can provide optimal returns in making investment decisions. Assessment can be done by analyzing the fairness of stock price of the company. This study aims to determine the stock price of PT. Semen Indonesia of the period 2014-2016. The method used in this research is fundamental analysis using Discounted Cash Flow (DCF) approach. The result of this study shows that PT. Semen Indonesia’s stock is in an undervalued condition. Therefore, the right decision for the investor is to buy the stock for investment or not to sell the stock in the hope that in the future the stock price will rise.

scholarly journals Comparing Aras and Copras Methods to Evaluate Firms By Using Fundamental Analysis

2020 ◽  
Vol 7 (2) ◽  
pp. 214-230
Author(s):  
Hasan Durmus ◽  
Mehmet Nuri İnel
Keyword(s):  
Decision Making ◽  
Investment Decision ◽  
Investment Decisions ◽  
Multicriteria Decision Making ◽  
Financial Ratios ◽  
Decision Making Process ◽  
Fundamental Analysis ◽  
Management Decisions ◽  
Multicriteria Decision

Decision making process is a though process not only for the management decisions but also for daily decisions. Multicriteria decision making methods were developed to make this process easier. There are many multicriteria decision making methods used in many areas at the present. In this study two of these methods were used, namely ARAS (Additive Ratio Assessment) and COPRAS (Complex Proportional Assessment), for fundamental analysis in investment decisions. Aim of this study is to implement and compare methods on fundamental analysis of firms to make an investment decision. In the study financial ratios of 20 firms from 5 different sectors and 4 different countries, sectoral data and country indicators were used. According to these data, ARAS and COPRAS methods were implemented and although exactly same results were not found, approximately similar results were obtained. The best and the worst companies were same for both methods, even though other rankings differed slightly. Also, same sector selected as best for both methods to invest in.

scholarly journals A Reseach on Fundamental Access of Selected Automobile Companies in India

2019 ◽  
Vol 8 (11S) ◽  
pp. 729-736
Keyword(s):  
Financial Market ◽  
Automobile Industry ◽  
Rural Areas ◽  
Intrinsic Value ◽  
Fundamental Analysis ◽  
Past Performance ◽  
True Value ◽  
Long Run ◽  
Gdp Growth Rate ◽  
A Share

Today, the most important strength of volatile financial market is information. Fixed income securities are for more risk-averse investors where as young people are more interested in equity shares as they like to take more risk in lieu of more return. Prices of these securities move according to the information available in the financial market. Investors are always confused regarding Where to invest, When to invest and How much to invest. Fundamental analysis is a method which helps an investor in knowing “What the price should be” or “What is the real value of a share”. It is based on the foundation that in the long run, the true value of a share will be equal to its intrinsic value i.e. present value of all the future cash inflows from the share in the form of dividends as valuation of equity shares are based on the assumption of going concern concept of business. Fundamental analysis involves analyzing the economy wide factors (e.g. GDP growth rate, employment etc), industry wide factors (e.g. competition, nature of product etc) and companywide factors (e.g. financial statements, corporate governance, management efficiency etc). It is also quoted by John Forman, “Fundamental analysis is very powerful in terms of determining long-term direction, but lacks short-term applicability”. The automobile industry is considered to be one of the key drivers of economic growth as it involves huge investment at the same time large profit to automobile companies. On the basis of past performance, it is analyzed that the demand outlook of automobile industry will continue to grow in 2018-19 due to healthy sales momentum in rural areas as well. This built confidence among the investors to invest in automobile industry which is highly rewarding at the same time it is highly risky in long run.

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