Abstract
This study aims to determine the intrinsic value of PT. Bank Mandiri (Persero), Tbk shares with code shares BMRI , the shares condition, and decisions that can be taken under these conditions. Valuation method used in this study is Relative Valuation. The steps fundamental analysis are macroeconomic analysis, industry analysis and company analysis required to make investment decision on BMRI shares. From the results of study note even the BMRI shares price is overvalued than intrinsic value. Risk seeker investors who haven’t BMRI shares can buy it, and risk seeker investors who have PTPP shares can hold it in their portfolio. Risk averse investors who have the BMRI shares can sell it, and risk averse investors who haven’t BMRI shares can hold to buying.
Highlights
This study aims to determine the intrinsic value of PT
Analisis Investasi dan Manajemen Portofolio.Yogyakarta : BPFE
Summary
Penilaiaan Harga Wajar Saham BMRI Berdasarkan Relative Valuation Pada penelitian ini, Relative Valuation yang digunakan adalah Price Earning Ratio (PER), Price Book Value (PBV), Price to Cash Flow (P/C), Price to Sales (P/S), dan Economic Value Added (EVA). 1) Penilaiaan Harga Wajar Saham BMRI Berdasarkan Price Earning Ratio Berikut hasil perhitungan nilai PER saham BMRI dapat dilihat pada Tabel 3 sebagai berikut: Tabel 3. Sumber: Annual Report BMRI tahun 2016, data hasil olahan peneliti, September 2017. Total Ekuitas (dlm trilyun) Jumlah Saham Beredar (dlm trilyun) Harga Saham BV per Share PBV Sumber: Annual Report BMRI tahun 2016. Berdasarkan nilai PBV BMRI dapat dikatakan undervalue pada dua tahun terakhir. Hasil penilain harga ajar BMRI berdasarkan P/C ratio, dapat dilihat pada Tabel 5 berikut ini: Tabel 5.
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