VALUASI PERUSAHAAN PENYEDIA JASA KESEHATAN: STUDI KASUS PADA PT PRODIA WIDYAHUSADA (PRODIA)

MAKARIM HIRDZI, Hermeindito, Dr., SE, MM

2023 | Tesis | MAGISTER MANAJEMEN (KAMPUS JAKARTA)

Penelitian ini bertujuan untuk mengestimasi nilai harga saham perusahaan penyedia jasa kesehatan studi kasus pada PT Prodia Widyahusada (Prodia) dengan menggunakan dua metode yaitu Discounted Cash Flow yaitu Free Cash Flow to Equity (FCFE), Free Cash Flow to Firm (FCFF) & Dividend Discount Model (DDM) dan Relative Valuation ( RV) yaitu Price Earning Ratio (PER) dan Price to Book Value (PBV). Selain itu di penelitian ini akan dihitung dalam dua periode yaitu periode masa Covid19 dan periode sebelum covid19 dengan masing-masing memiliki tiga kondisi best, base dan worst. Hasil penelitian ini menunjukan bahwa pada periode masa Covid19 metode yang nilai perhitungannya paling mendekati nilai pasar di kondisi best, base dan worst adalah metode DDM & RV PBV. Disisi lain, metode yang nilai perhitungannya paling mendekati nilai pasar di kondisi best, base dan worst pada saat periode sebelum Covid19 adalah metode FCFE & RV PBV

This study aims to estimate the stock price value of a case study health care provider company at PT Prodia Widyahusada (Prodia) using two methods, namely Discounted Cash Flow, namely Free Cash Flow to Equity (FCFE), Free Cash Flow to Firm (FCFF) & Dividend Discount. Model (DDM) and Relative Valuation (RV), namely Price Earning Ratio (PER) and Price to Book Value (PBV). In addition, in this study, it will be calculated in two periods, namely the period of the Covid19 period and the period before Covid-19, each of which has best, base and worst conditions. The results of this study indicate that during the Covid19 period, the method whose calculation value is closest to the market value in the best, base and worst conditions is the DDM & RV PBV method. On the other hand, the method whose calculation value is closest to the market value in the best, base and worst conditions during the period before Covid19 is the FCFE & RV PBV method.

Kata Kunci : Kata kunci: Free Cash Flow to Equity (FCFE), Free Cash Flow to Firm (FCFF), Dividend Discount Model (DDM), Relative Valuation ( RV)