Financial Performance Analysis With Economic Value Added On Telecommunication Companies Listed In BEI

Abstract

This research describes the financial performance based on the Economic Value Added (EVA) method, which aims to know the condition of Net Operating Profit After Tax (NOPAT), Cost of Capital (COC) condition, and financial performance condition based on Economic Value Added (EVA) in telecommunications company which is listed on BEI. The sample using PT. Telekomunikasi Indonesia, PT. XL Axiata and PT. Indosat. on 2012-2016. This research uses a descriptive with quantitative approach. The result of the analysis shows that the condition of NOPAT PT. Telekomunikasi Indonesia and PT. XL Axiata is good and positive, while NOPAT PT. Indosat in 2013 is negative. The condition of COC for all companies is positive and fluctuating. EVA Condition for PT. Telekomunikasi Indonesia on 2012-2016 positive, which means EVA> 0. It shows that the company can add value for the company. EVA condition for PT. XL Axiata in 2012 and 2013 was positive or EVA> 0, on 2014 and 2015 EVA was negative or EVA < 0 and in 2016 EVA had a positive result. PT. Indosat is only able to make value for the company just on 2012 and 2016 with EVA positive or EVA> 0, then on 2013 to 2015 the result of EVA is negative or EVA < 0 which means the company cannot make a value-added for the company.