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Stock Evaluation of a Non-Publicly Traded Company Case Study of PT.A

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The objective of this study was to estimate stock value of PT. ABC in associated with Initial Public offering (IPO) using two approaches, income approach and relative approach. the data observed in this research consists of financial statements, the information contained in the annual report PT. ABC from 2008 to 2012, comparable companies financial statements in 2008 to 2012, stock price, risk free rate and other supporting data. the Analysis in Discounted Cash Flow (DCF) method, it started with forecasting financial statements based on estimation of net sales growth rate which followed by calculation free cash flow. the calculating discount rate based on risk free interest rate 6,50 percent, Market Risk Premium (MRP) 14 percent, the ?í‚⧠1,35, cost of debt 10,08 percent, and 32,11 percent debt ratio. the discount rate used to be a total free cash flow into present value. Analysis using relative valuation method begins by determining comparison companies on the industry, followed by choosing and determining multiplies which will be used to converse the book value of the relevant variables from the PT. ABC to be estimated by market value of equity. the multiplies used are PER (Price Earning Ratio), P/S (Sales Price) and PBV (Price to Book Value). the results of the research showed that its estimated intrinsic value of the equity of PT. ABC, using the income approach on 31 December 2012 was Rp83,956,347 per share, and the fair market value based on market data approach for Rp 91,969,997 Reconciliation based on average of two approaches produced the fair market value of the shares of PT. ABC of Rp87,963,172.

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Availability

B01657

(Rack Thesis)

Available

Detail Information

Series Title

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Call Number

1657

Publisher

: Swiss German University., 2014

Collation

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Language

English

ISBN/ISSN

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Classification

NONE

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Media Type

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Carrier Type

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Edition

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Subject(s)

IBA
Intrinsic value
Fair market value
Income approach
Discounted cash flow
Market data approach
Relative valuation

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