Analisis Fundamental sebagai Bahan Pengambilan Keputusan Investasi pada PT Semen Indonesia Tbk

Aziz, Izzam Abdul (2022) Analisis Fundamental sebagai Bahan Pengambilan Keputusan Investasi pada PT Semen Indonesia Tbk. KTTA thesis, Politeknik Keuangan Negara STAN.

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Abstract

ABSTRAK Saham adalah bukti kepemilikan nilai perusahaan atau bukti penyertaan modal yang sering diperdagangkan. Diperlukan pengetahuan mengenai kualitas dari saham dan kondisi perusahaan sebelum pengambilan keputusan investasi. Karya tulis ini bertujuan untuk mengetahui karakteristik perusahaan menggunakan analisis fundamental dari sisi lingkungan bisnis dan strategi, akuntansi, keuangan, prospektif, biaya modal, serta mengukur nilai intrinsik dari saham menggunakan metode penilaian Dividend Discount Model, Discounted Cash Flow, dan Price Multiple. Karya tulis ini juga bertujuan untuk menilai apakah saham yang dijual di bursa lebih rendah, wajar, atau lebih tinggi dari nilai intrinsiknya. Metode yang digunakan adalah studi kepustakaan. Analisis data dilakukan dengan mengolah data-data laporan keuangan ke dalam suatu perhitungan dan rasio. Selain itu, penulis juga menggunakan data sekunder berupa laporan keuangan PT Semen Indonesia Tbk tahun 2019 hingga 2021. Hasil penelitian menunjukkan bahwa harga intrinsik saham PT Semen Indonesia Tbk berdasarkan metode Dividend Discount Model, Discounted Cash Flow, dan Price Multiple mengalami overvalue. Adapun keputusan yang diambil adalah menjual atau tidak membeli saham tersebut. / Shares are proof of ownership of the company's value or proof of equity participation that is often traded. Knowledge of the quality of the stock and the condition of the company is required before making investment decisions. This paper aims to determine the characteristics of the company using fundamental analysis in terms of the business environment and strategy, accounting, finance, prospective, cost of capital, as well as measuring the intrinsic value of shares using the Dividend Discount Model, Discounted Cash Flow, and Price Multiple valuation methods. This paper also aims to assess whether the shares sold on the exchange are lower, fair, or higher than their intrinsic value. The method used is literature studcby. Data analysis is done by processing financial statement data into a calculation and ratio. In addition, the authors also use secondary data in the form of the financial statements of PT Semen Indonesia Tbk from 2019 to 2021. The results show that the intrinsic price of PT Semen Indonesia Tbk's shares based on the Dividend Discount Model, Discounted Cash Flow, and Price Multiple methods is overvalued. The decision taken is to sell or not to buy the shares.

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