Analisis Fundamental dan Valuasi Nilai Saham PT Waskita Karya Tbk

Fivaldi, Andika (2022) Analisis Fundamental dan Valuasi Nilai Saham PT Waskita Karya Tbk. KTTA thesis, Politeknik Keuangan Negara STAN.

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Abstract

Penelitian ini dilakukan untuk mengetahui kinerja keuangan dari sisi analisis fundamental serta mengetahui harga wajar saham pada perusahaan konstruksi yaitu PT Waskita Karya Tbk. periode 2019-2021. Penelitian ini menggunakan metode kepustakaan dan metode analisis data kuantitatif dengan pengambilan data yang bersumber dari laporan keuangan perusahaan, materi presentasi perusahaan, dan public expose. Pembahasan mengenai kinerja keuangan dari sisi analisis fundamental menggunakan pendekatan rasio keuangan dari aspek likuiditas, solvabilitas, profitabilitas, dan aktivitas; sedangkan pembahasan mengenai harga wajar saham menggunakan pendekatan discounted cash flow, discounted abnormal earnings, dan penilaian harga wajar yang dikhususkan untuk perusahaan konstruksi batubara. Hasil penelitian kinerja keuangan dari sisi perbandingan antartahun menunjukkan adanya kecenderungan tren menurun, sedangkan hasil penelitian dari sisi perbandingan antarperusahaan menunjukkan bahwa PT Wijaya Karya Tbk. memiliki kinerja keuangan yang paling baik. Adapun hasil penilaian harga wajar saham menunjukkan kondisi harga wajar saham yang berbeda-beda, tergantung pada metode yang digunakan. / The purpose of this research is to determine the financial performance in terms of fundamental analysis and to find out the reasonableness stock price of construction companies, namely PT Waskita Karya Tbk., PT Wijaya Karya Tbk., and PT Adhi Karya Tbk for the 2019-2021 period. This research uses descriptive research with a quantitative approach that takes data from company financial statements, company presentation, and public expose. Discussion on financial performance in terms of fundamental analysis using a financial ratio approach from the aspects of liquidity, solvency, profitability, and activity; while the discussion on the reasonableness stock price valuation uses the discounted cash flow, discounted abnormal earnings, and valuation approaches that are specifically used for construction companies. The results of research on financial performance in terms of inter-annual comparisons show a downtrend, while the results of the year-to-year comparison show that PT Wijaya Karya Tbk. has the best financial performance. The results of the reasonableness stock price valuation show different conditions (undervalued, overvalued, or fair valued), depending on the valuation method used.

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