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    Analisis Fundamental Wika

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    Anonymous XoUqrqyu
    The document provides financial ratios for Wika Beton for Q1 and Q2 of 2014. Key highlights include: 1. Liquidity ratios such as current ratio and quick ratio improved from Q1 to Q2, while debt ratio decreased, indicating stronger liquidity position. 2. Profitability ratios like operating profit margin and net profit margin increased slightly from Q1 to Q2, while return on asset and return on equity decreased. 3. Activity ratios like average collection period and inventory turnover were relatively stable, while total asset turnover decreased. 4. An analysis of the company's intrinsic stock value over 5 and 20 years time horizons suggests the current stock price is overvalued for a

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    Analisis Fundamental Wika

    Uploaded by

    Anonymous XoUqrqyu
    125 views5 pages
    The document provides financial ratios for Wika Beton for Q1 and Q2 of 2014. Key highlights include: 1. Liquidity ratios such as current ratio and quick ratio improved from Q1 to Q2, while debt ratio decreased, indicating stronger liquidity position. 2. Profitability ratios like operating profit margin and net profit margin increased slightly from Q1 to Q2, while return on asset and return on equity decreased. 3. Activity ratios like average collection period and inventory turnover were relatively stable, while total asset turnover decreased. 4. An analysis of the company's intrinsic stock value over 5 and 20 years time horizons suggests the current stock price is overvalued for a

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    Analisis Fundamental Wika

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    The document provides financial ratios for Wika Beton for Q1 and Q2 of 2014. Key highlights include: 1. Liquidity ratios such as current ratio and quick ratio improved from Q1 to Q2, while debt ratio decreased, indicating stronger liquidity position. 2. Profitability ratios like operating profit margin and net profit margin increased slightly from Q1 to Q2, while return on asset and return on equity decreased. 3. Activity ratios like average collection period and inventory turnover were relatively stable, while total asset turnover decreased. 4. An analysis of the company's intrinsic stock value over 5 and 20 years time horizons suggests the current stock price is overvalued for a

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    125 views5 pages

    Analisis Fundamental Wika

    Uploaded by

    Anonymous XoUqrqyu
    The document provides financial ratios for Wika Beton for Q1 and Q2 of 2014. Key highlights include: 1. Liquidity ratios such as current ratio and quick ratio improved from Q1 to Q2, while debt ratio decreased, indicating stronger liquidity position. 2. Profitability ratios like operating profit margin and net profit margin increased slightly from Q1 to Q2, while return on asset and return on equity decreased. 3. Activity ratios like average collection period and inventory turnover were relatively stable, while total asset turnover decreased. 4. An analysis of the company's intrinsic stock value over 5 and 20 years time horizons suggests the current stock price is overvalued for a

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 5

    Base year

    Revenue growth rate


    Revenues
    EBIT (Operating) margin
    EBIT (Operating income)
    Tax rate
    EBIT(1-t)
    - Reinvestment
    FCFF

    Rp

    17%
    2,643,724,434.00
    12.72%

    Rp
    Rp
    Rp

    15%
    3,048,126,514.24
    13.17%
    401,548,482.16
    25%
    301,161,361.62
    383,086,078.85
    (81,924,717.23)

    Rp

    Rp

    336,202,965.00

    Rp

    Rp

    25%
    252,152,223.75

    Rp

    11.02%
    0.900753433
    (73,793,970.29)

    1.05564285
    2,504,373,930.00 Rp
    10.07%

    1.05564285
    2,887,460,008.85
    10.43%

    Cost of capital
    PV Factor
    PV(FCFF)

    Sales to capital ratio


    Invested capital
    ROIC

    Rp

    Estimation of Current Cost of Capital


    Equity
    Number of Shares outstanding =
    Current Market Price per share =

    Rp

    8,700,000,000.00
    1,100.00
    Equity

    Market Value
    Weight in Cost of Capital
    Cost of Component

    Debt

    Rp 9,570,000,000,000.00 Rp
    99.99%
    11.02%

    825,848,899.28
    0.01%
    14.84%

    Rp
    Rp

    2,187,382,982.00
    (3,620,139.00)
    5
    21.20%
    30.00%
    0.81
    7%
    4.96%

    Debt
    Book Value of Straight Debt =
    Interest Expense on Debt =
    Average Maturity =
    Pre-tax Cost of Debt =
    Tax Rate =
    Unlevered beta =
    Riskfree Rate =
    Equity Risk Premium used in cost of equity =

    2
    Rp
    Rp
    Rp
    Rp
    Rp

    Rp

    Rp

    13%
    3,451,165,359.06
    13.90%
    479,855,884.69
    25%
    359,891,913.52
    381,794,699.46
    (21,902,785.95)

    11%
    3,835,913,016.05
    14.56%
    558,572,912.02
    25%
    418,929,684.02
    364,467,638.69
    54,462,045.33

    Rp
    Rp
    Rp
    Rp
    Rp

    Rp
    Rp
    Rp
    Rp
    Rp

    9%
    4,183,990,289.07
    14.91%
    623,930,588.36
    25%
    467,947,941.27
    329,730,147.73
    138,217,793.54

    11.02%
    0.900753433
    (19,729,009.63) Rp

    11.02%
    0.900753433
    49,056,874.30 Rp

    11.02%
    0.900753433
    124,500,152.03

    1.05564285
    3,269,254,708.32 Rp
    11.01%

    1.05564285
    3,633,722,347.01 Rp
    11.53%

    1.05564285
    3,963,452,494.74
    11.81%

    Preferred Stock

    Capital

    Rp
    Rp

    0.00%
    -

    9,570,825,848,899.28
    100.00%
    11.02%

    Sales To Capital Ratio


    Revenues
    Book value of equity
    Book value of debt
    Cash and cross holdings

    Rp
    Rp
    Rp
    Rp

    1.05564285
    2,643,724,434.00
    730,017,770.00
    2,187,382,982.00
    413,026,822.00

    Terminal Years

    Rp
    Rp
    Rp

    7%
    4,476,869,609.31 Rp
    15.00%
    671,530,441.40 Rp
    25%
    503,647,831.05 Rp
    277,441,674.63 Rp
    226,206,156.42 Rp

    Rp

    11.02%
    0.900753433
    203,755,971.95

    Rp
    Rp

    Rp

    7%
    4,790,250,481.96
    15.00%
    718,537,572.29 Rp
    25%
    538,903,179.22
    251,488,150.30 Rp
    287,415,028.92
    11.02%

    1.05564285 After 5 Years


    4,240,894,169.37
    11.88%

    15.00%

    Terminal Value

    Rp

    6,023,648,499.43

    PV (Terminal Value)

    Rp
    Rp
    Rp

    5,425,822,064.90
    5,709,612,083.25
    5,316,577,179.25
    8,700,000.00
    611.10
    1100
    180%

    Instrinsic Value
    Equity Value

    Number of shares
    Estimated value /share
    Price
    Price as % of value

    382,334,607.29

    1,988,008,389.67

    Laporan Posisi Keuangan


    ASET LANCAR

    Kas
    Piutang
    Persediaan
    ASET TIDAK LANCAR
    JUMLAH ASET
    LIABILITAS JANGKA PENDEK
    LIABILITAS JANGKA PANJANG
    JUMLAH LIABILITAS
    EKUITAS
    JUMLAH LIABILITAS DAN EKUITAS

    WIKA BETON Q1 2014


    WIKA BETON Q2 2014
    Rp 1,545,089,032,653.00 Rp
    2,460,928,122,171.00
    Rp
    255,013,034,959.00 Rp
    879,172,056,652.00

    26%
    86%
    -4%

    Rp
    720,957,676,099.00 Rp
    Rp 1,103,313,437,297.00 Rp
    Rp 2,648,402,469,950.00 Rp

    665,285,799,910.00
    1,195,792,504,032.00
    3,656,720,626,203.00

    Rp 1,452,133,675,896.00 Rp
    Rp
    392,704,387,858.00 Rp
    Rp 1,844,838,063,754.00 Rp

    1,200,461,643,391.00
    384,571,841,354.00
    1,585,033,484,744.00

    -9%

    Rp
    803,564,406,196.00 Rp
    Rp 2,648,402,469,950.00 Rp

    2,071,687,141,458.00
    3,656,720,626,202.00

    61%

    Rp
    Rp
    Rp
    Rp
    Rp

    864,378,451,329.00
    735,006,383,245.00
    129,372,068,084.00
    107,407,768,093.00
    116,043,736,569.00

    3%

    4%
    18%

    -1%
    -7%

    18%

    Laporan Laba Rugi

    LABA (RUGI) DARI OPERASI SEBELUM PAJAK

    Rp
    Rp
    Rp
    Rp
    Rp

    LABA (RUGI) BERSIH

    Rp

    78,896,636,430.00 Rp

    90,382,368,659.00

    7%

    LABA (RUGI) BERSIH PER SAHAM DASAR

    Rp

    9.23 Rp

    19.82

    47%

    Laporan Arus Kas


    AKTIVITAS OPERASI
    AKTIVITAS INVESTASI
    AKTIVITAS PENDANAAN

    Rp
    Rp
    Rp

    (59,372,971,381.00) Rp
    (54,483,666,518.00) Rp
    (44,157,148,821.00) Rp

    (78,828,897,352.00)
    (135,473,591,530.00)
    1,093,474,545,533.00

    PENJUALAN BERSIH
    BEBAN POKOK PENJUALAN
    LABA KOTOR
    LABA (RUGI) USAHA

    814,035,691,013.00
    685,976,410,694.00
    128,059,280,319.00
    114,094,985,019.00
    105,294,910,682.00

    Mengidentifikasi Outstanding Company dengan rasio keuangan Big Five Number Phil Town
    Indikator
    Return On Equity (ROE)
    Equity Growth
    Sales Growth
    Earning Growth
    Operating Cash Flow Growth

    >15%

    Untuk Investasi 5 Tahun :


    Karena 759<1200 maka harga saham WTON overvalued
    Untuk Investasi 20 Tahun :
    Karena 1557>1200 maka harga saham WTON undervalued

    -33%
    61%
    3%
    7%
    15%

    4%
    1%
    -3%
    5%

    15%
    58%
    2576%

    3.4.1 Analisis Rasio Likuiditas

    WIKA BETON
    Q1
    Q2
    1.064012947
    0.56753133
    0.175612644
    0.035098652
    0.696585238

    2.0499848
    1.495793166
    0.732361639
    0.3446986
    0.433457638

    39%
    62%
    104%
    213%
    -21%

    2.295818542
    0.696585238
    0.488703065

    0.765093075
    0.433457638
    0.1856322

    -42%
    -21%
    -38%

    3.4.3 Rasio Aktivitas


    Average Collection Period
    Inventory Turn Over
    Total Fixed Asset Turn Over
    Total Assets Turn Over

    0.951479447
    0.743336603
    0.307368574

    1.104797943
    0.727169843
    0.236380774

    8%
    -1%
    -12%

    3.4.4 Rasio Profitabilitas


    Operating Profit Margin
    Net Profit Margin
    Return on Asset (ROA)
    Return on Equity (ROE)
    Gross Profit Margin
    Earning Power

    0.129349256
    0.096920365
    3%
    10%
    0.157314086
    0.039757896

    0.134251075
    0.104563422
    2%
    4%
    0.149670631
    0.031734373

    2%
    4%
    -9%
    -33%
    -2%
    -11%

    Nilai Fundamental Saham


    Rasio pertumbuhan EPS
    Rasio harga saham terhadap EPS (PER)
    PB/V Ratio
    Rata" PER

    9.23
    82.34019502 Rp
    8.242966668
    60.34265048

    19.82
    38.35
    3.197275536

    47%

    Estimasi EPS masa depan (5&20 tahun)


    Nilai Saham di Masa Mendatang

    27.7985753
    1677.439713

    76.69714605
    4628.109077
    1,519.31 Rp
    1,557.29

    Current Ratio
    Quick Ratio
    Cash Ratio
    Working Capital to total assets ratio
    Debt Ratio
    3.4.2 Analisis Rasio Solvabilitas (Leverage)
    Total Debt to Equity Ratio
    Total Debt to Total Capital Assets Ratio
    Long term debt to total equity ratio

    Sticker Price atau Minimum Acceptable Return

    Margin of Safety (MOS) Price


    Harga Saham Saat ini

    Rp
    Rp

    Rp
    759.65 Rp
    1,200.00

    -32%
    -38%

    3,114.58

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