PENILAIAN HARGA WAJAR SAHAM PT EAGLE HIGH PLANTATION TBK

MASRACHMAN BAGUS WIB, I Wayan Nukalantara, M.Si; Ph.D

2016 | Tesis | S2 Manajemen

Penelitian ini bertujuan untuk menganalisis dan menghitung harga wajar saham PT Eagle High Plantation Tbk (EHP). Alat analisis yang digunakan adalah analisis PESTLE (Politics, Economics, Social, Technology, Laws, dan Environment), DCFF (Discounted Cash Flow to the Firm), dan Relative Valuation dengan metode PER (Price Earning Ratio). Data-data yang dipergunakan adalah data historis sampai dengan September 2015 diantaranya adalah Laporan Keuangan, Laporan Tahunan, data-data makro ekonomi, dan data-data perkembangan industri. Hasil perhitungan dengan menggunakan metode DCFF adalah sebesar Rp 516 per lembar saham, dan berdasarkan perhitungan Relative Valuation adalah sebesar Rp 121 per lembar saham.

This research objective is to analyze and to calculate the reasonable price for stocks that issued by PT. Eagle High Plantation Tbk (EHP). This study employs analysis instruments i.e. PESTLE (Politics, Economics, Social, Technology, Laws, and Environment) analysis, DCFF (Discounted Cash Flow to the Firm) and Relative Valuation that obtained from PER (Price Earnings Ratio) methodology. Data were obtained from historical data up until September 2015 i.e. Financial Statement, Annual Report, macroeconomic data, and industry growth data. Price yielded from measurement utilizing DCFF method is Rp 516 per share, while those of which based on Relative Valuation calculation is Rp 121 per share.

Kata Kunci : Stock price, discounted cash flow, relative valuation