ANALISIS FUNDAMENTAL DAN PENILAIAN HARGA SAHAM UNTUK KEPUTUSAN INVESTASI: STUDI KASUS PT INDOINTERNET TBK

Parelasari, Pipin Ruri (2022) ANALISIS FUNDAMENTAL DAN PENILAIAN HARGA SAHAM UNTUK KEPUTUSAN INVESTASI: STUDI KASUS PT INDOINTERNET TBK. KTTA thesis, Politeknik Keuangan Negara STAN.

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Abstract

ABSTRAK Kenaikan jumlah investor pasar modal di Indonesia pada tahun 2021 merupakan salah satu dampak tidak langsung dari adanya pandemi Covid-19. Pengetahuan investor mengenai kondisi suatu saham perusahaan merupakan hal yang cukup penting. Karya tulis ini bertujuan untuk melakukan analisis fundamental yang dimulai dari analisis strategi dan bisnis, analisis akuntansi, analisis keuangan, serta analisis prospektif pada salah satu perusahaan yang baru melakukan go public pada tahun 2021, yaitu PT Indointernet Tbk. Selanjutnya, analisis-analisis yang telah dilakukan tersebut digunakan untuk menentukan keputusan investasi menggunakan beberapa metode penilaian saham antara lain metode price multiple, discounted abnormal earnings, dan discounted cash flow. Dalam karya tulis ini, penulis menggunakan jenis penelitian kuantitatif dengan data sekunder dengan metode pengumpulan data menggunakan kepustakaan. Berdasarkan hasil penelitian, kondisi saham PT Indointernet Tbk dengan metode price multiple baik PBV, PER, dan PSR menunjukkan hasil undervalued. Namun, penggunaan metode discounted abnormal earnings dan discounted cash flow menunjukkan hasil kondisi saham yang overvalued. Kata kunci: analisis fundamental, penilaian saham, discounted abnormal earnings, discounted cash flow, price multiple Abstract The increase in the number of Indonesia’s capital market investors in 2021 is one of the indirect impacts by Covid-19 pandemic. Investor knowledge about the condition of a company’s stock is important. This paper aims to do fundamental analysis that consist by strategy and business analysis, accounting analysis, financial analysis, and prospective analysis on one of the go public company listed in 2021, namely PT Indointernet Tbk. Furthermore, based on the analyzes are used to determine investment decisions by using several methods of stock valuation, including the price multiple, discounted abnormal earnings, and discounted cash flow method. In this paper, the author uses quantitative research with secondary data collected using literature. Based on results of the research, the condition of the PT Indointernet Tbk’s shares using price multiple method both using PSB, PER, or PSR showed undervalued stock result. However, by using discounted abnormal earnings and discounted cash flow method showed overvalued stock conditions. Keywords: fundamental analysis, stock valuation, discounted abnormal earnings, discounted cash flow, price multiple

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