Pasar Modal & Sekuritas, Tugas akhir semester 2010
-
Upload
abdul-rohman-santoso -
Category
Documents
-
view
122 -
download
4
description
Transcript of Pasar Modal & Sekuritas, Tugas akhir semester 2010
kinerja Keuangan dan Saham PT Kalbe farma Tbk 1 Fundamental Keuangan ( dalam Miliar Rp)
Keterangan 2006 2007 2008 2009Sales 6071.6 7,004.9 7,877.4 9,087.3 Assets 4624.6 5,138.2 5,703.8 6,482.4 COGS 2972.9 3,453.3 4,073.7 4,575.4 Net Income 676.6 705.7 706.8 929.0 Persentase kenaikan ( penurunan )keterangan 2007 2008 2009Sales 15.37% 12.46% 15.36%Assets 11.11% 11.01% 13.65%COGS 16.16% 17.97% 12.32%Net Income 4.30% 0.16% 31.44%
2 Kinerja Modal ; Return On Invested Capital (ROIC)
( dalam miliar Rp ) 2007 2008 2009
Net Operating 1,129.35 1,142.71 1,565.87 Income Tax 347.02 352.52 421.41 NOPAT 782.33 790.19 1,144.46 Interest Bearing Liability ;
Pinjaman jangka pendek 43.72 145.89 339.13 hutang jangka panjang yang jatuh
tempo dalam waktu satu tahun : hutang sewa pembiayaan 2.44 0.57 0.50 hutang obligasi, bersih - 258.55 -
Kewajiban Tidak lancar ;hutang sewa pembiayaan setelah
dikurangi bagian jatuh tempo dalam waktu satu tahun 0.49 1.04
hutang obligasi, bersih 267.20 - - Interest Bearing Liability ; 313.36 405.50 340.67 Ekuitas Bersih 3,386.86 3,622.40 4,310.44 IBL + Ekuitas Bersih 3,700.22 4,027.90 4,651.11 ROIC 21.14% 19.62% 24.61%
Cost Of Debt ( COD ) / Biaya Hutang(dalam Miliar Rp )
2007 2008 2009Pinjaman Bank dan Lain-lain 18.58 12.25 30.38Hutang obligasi 35.67 36.96 17.55Hutang sewa pembiayaan 0.37 0.12 0.14Total Beban Bunga 54.62 49.33 48.07Interest Bearing Liability ; 313.36 405.5 340.67Biaya Hutang (COD) 17.43% 12.17% 14.11%
Cost Of Equity ( COE ) / Biaya Ekuitas 2007 2008 2009
Rf (SBI) 8.00% 9.25% 6.50%Rm 57.85% -27.08% 57.18%(Rm - Rf ) 49.85% -36.33% 50.68%β 0.06 0.94 1.42 COE 10.99% -24.90% 78.47%
Cost of Capital (COC)/ Biaya Modal ( dalam Miliar Rp)
2007 2008 2009Jml Interest Bearing Liability 313.36 405.5 340.67Jumlah Ekuitas 3386.86 3622.4 4310.44IBL + Ekuitas 3700.22 4027.9 4651.11% IBL 8.47% 10.07% 7.32%% ekuitas 91.53% 89.93% 92.68%Pajak 28% 28% 28%COD 17.43% 12.17% 14.11%COE 10.99% -24.90% 78.47%WACC 11.12% -21.51% 73.46%
3 Rasio Keuangan Fundamental (dalam Miliar Rp )
2007 2008 2009ROE ;
Net Income 705.69 706.82 929Ekuitas Bersih 3386.86 3622.4 4310.44Return on Equity (ROE) 20.84% 19.51% 21.55%
DAR ; Interest Bearing Liability 313.36 405.5 340.67Total Assets 5,138.2 5,703.8 6,482.4 Debt to Assets Ratio (DAR) 6.10% 7.11% 5.26%