Economic Value Added Method Research Articles

Analisis Perbandingan Kinerja Keuangan Metode Economic Value Added (EVA) dan Metode Rasio Rentabilitas pada PT BPR BKK Kab. Tegal (Perseroda)

Financial performance is a tool to analyze how a company runs well to be able to get maximum profit. The purpose of this study is to compare the financial performance of companies that apply the Rentability Ratio Method by considering Return on Asset (ROA), BOPO (Operating Cost of Operating Income), Net Interest Margin (NIM), and Economic Value Added (EVA). Quantitative descriptive research is used. In this research, the data collection method is a documentation study, namely the financial statements published by PT BPR BKK KAB TEGAL (Perseroda), and secondary data is used. The results showed that PT BPR BKK KAB TEGAL (Perseroda) has excellent financial performance. Judging from ROA, the company is in a very healthy category with an average of 2.2%, judging from BOPO, the company is in a very healthy category with an average of 83.66%, and judging from NIM, the company is in a very healthy category with an average of 9.18%. Because EVA is negative with an average of Rp. -3,000,901, the company does not experience economic added value. The results of the comparison between ROA, BOPO, NIM, and EVA show that the company should use the EVA method to take into account financial performance with elements of the cost of equity and provide a detailed explanation of the company's added value.

ANALISIS KINERJA PERUSAHAAN TAHUN 2021-2022 DENGAN METODE EVA PADA PT. ACE HARDWARE INDONESIA.TBK

Realizing good company financial performance is the dream of all companies stakeholders, especially company financial managers, company owners and investors. Financial performance as reported through Financial Reports can be analyzed using various methods including using the Economic Value Added (EVA) method. Recently, many companies have implemented the EVA method as a method for assessing company performance. Economic Value Added (EVA) is a very effective assessment system for assessing a company's financial performance over a certain period. This research aims to analyze the financial performance of the company PT. ACE Hardwared, Tbk uses the Economic Value Added (EVA) method. This research is quantitative descriptive research using secondary data in the form of Financial Reports for the 2021-2022 period obtained from the Indonesia Stock Exchange (BEI). The research results for 2021, 2022 show a positive EVA (>0) so that the company is deemed to have been able to create economic added value after the company paid all of the company's obligations to its investors.

Analisis Kinerja Keuangan pada Sub Sektor Farmasi yang Terdaftar di Bursa Efek Indonesia Menggunakan Metode Economic Value Added dan Market Value Added

The pharmaceutical industry experienced growth from 2019 to 2021, driven by increased demand for medicines. However, in 2022, the growth of the pharmaceutical industry slowed down due to the impact of the Covid-19 pandemic in Indonesia. This research aims to describe the financial performance conditions of pharmaceutical sub-sector companies, measured using the Economic Value Added (EVA) and Market Value Added (MVA) methods. The research method used is a quantitative method with a descriptive approach. The type of data used is secondary data obtained from the website www.idx.co.id. The sample selection was carried out using purposive sampling technique, resulting in a total of 10 pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange (BEI) during the period from 2019 to 2022. The results of the financial performance analysis of companies using the EVA method indicate that pharmaceutical sub-sector companies have a good performance as they were able to generate a positive Economic Value Added (EVA > 0), signifying that the companies generated profits greater than the cost of capital, thus indicating good financial performance. Meanwhile, the financial performance analysis using the MVA method shows that pharmaceutical sub-sector companies were able to produce a positive Market Value Added (MVA > 0), indicating that the performance of the pharmaceutical sub-sector is in a good condition as the market value of the companies experienced an increase that exceeds the total capital invested by shareholders.

Kinerja Keuangan dengan Metode Economic Value Added (EVA)

Performance of the company is mostly measured by financial ratio for a spesific period. This measurement must be in accordance with generally accepted accounting treatment in preparing financial statements. Financial ratios have weaknesses in measuring performance where performance looks good but does not increase or even decrease. Therefor, other measuring are needed that can show the success of the company with the aim of adding economic value. Economic Value Added (EVA) is one of the most relevant measurements in measuring a company's financial performance because it can show how much added value can be generated during a spesific period.This research using qualitative descriptive method with secondary data from financial statement of PT Kimia Farma, Tbk listed on Indonesia Stock Exchange for 2018-2022. This study aims to find out the financial performance of PT Kimia Farma, Tbk listed on the BEI using the Economic Value Added (EVA) method. Economic value added (EVA) is an added value for the company by incurring capital costs. The result of this research indicate that financial perform with EVA method are negative, means that it performs is not optimal.

Analysis of Financial Performance Assessment Using the Economic Value Added (EVA) Method (Study at Bank Muamalat Indonesia 2019-2021)

Evaluation and measurement of financial performance can be assessed using financial ratios. However, management performance and achievements as measured by financial ratios are considered to be less representative of the actual state of the company. So another approach is needed, one of which is the Economic Value Added (EVA) approach. The EVA method can complement the lack of financial ratios and is more accurate in measuring performance and calculating the added value created by the company. This study aims to determine the financial performance of PT Bank Muamalat Indonesia Tbk during 2019-2021 and to analyze financial performance using theEconomic Value Added (EVAs). The type of data used is secondary data that is qualitative in nature taken from the annual report of PT Bank Muamalat Indonesia Tbk for the 2019-2021 period using the documentation data collection method. Based on analysis and calculation sEconomic Value Added (EVA) PT Bank Muamalat Indonesia Tbk in 2019-2021 shows a positive EVA value or (EVA > 0), which means that the financial performance of Bank Muamalat is in good health so that the bank is able to generate added value or profit generated sufficient to cover its operational costs so that the financial performance the company is in an advantageous position.

Financial Performance Information System Using Economic Value Added Method

In the current era of globalization, information is needed in a management organization. Most companies prefer computerized information systems because they simplify performance management. The rapid development of today's technology is also very useful and supports all aspects of life, especially in managing accounting and financial information systems, becoming a financial analysis of a company as a benchmark in assessing company performance. At the place where this research was carried out, there was no financial data to measure financial management performance. Become a reference in evaluating financial reports to assess financial performance in this study. Responding to these problems, it can be formulated to design a financial performance information system by applying the web-based EVA (Economic Value Added) method to assess whether a company's financial performance measurement influences growth or decline for decision makers related to financial management. and investors and provide results to company stakeholders as an evaluation value of financial management. The end result of this research is the EVA value for the company is Rp. 4,267,398,060. And this value can be used as an evaluation of management at the research site.

Application of the Economic Value Added (EVA) Concept as a Measuring Tool for Financial Performance

This study aims to determine the application of Economic Value Added (EVA) to financial performance at PT. XL Axiata, Tbk. The sample in this study is the financial performance of PT. XL Axiata, Tbk for three years. This research method uses the documentation method. The data used in this study is secondary data obtained from financial reports on the Indonesian Stock Exchange website. The data obtained is then processed by simple regression. Based on the analysis that has been done, it can be concluded that the financial performance of PT. XL Axiata, Tbk. This can be seen from the EVA value, which continuously decreases yearly until it reaches a negative EVA value so that PT. XL Axiata, Tbk could not generate returns per the expectations of shareholders. Also, evaluating financial performance using the EVA method strongly supports assessing financial performance based on financial ratios. This performance appraisal method gives the result that PT. XL Axiata has continuously experienced a decline in financial performance. However, with EVA, shareholders can see the size of the return generated by PT. XL Axiata Tbk for shareholders and whether the rate of return follows the shareholders' expectations, exceeding the cost of capital for the investment it makes

Analysis of Economic Value Added (EVA) and Market Value Added (MVA) in Assessing the Performance of Sharia Financial Institutions (Case Study at PT Bank Sumut Syariah Tbk)

Financial performance is the result or achievement achieved by the company in a certain period which describes the level of the soundness of the company to assist investors or potential investors in making decisions. Assessment of the company's financial performance using the EVA and MVA methods describes the optimal level of return on wealth for the company and investors. The purpose of this research is to measure the financial performance of PT. Bank Sumut Syariah uses the EVA and MVA methods, to determine the amount of economic added value creation and wealth creation that has been generated by the company for creditors and shareholders. This research was conducted at PT. Bank Sumut Syariah for the 2017-2021 period in period studied, Bank Sumut Syariah experienced an increase and decrease in its operational and finances seen from its annual financial reports. Based on the results of the analysis of the value of financial performance using the EVA method, PT. Bank Sumut Syariah has succeeded in creating a positive EVA value for the company every year. Rp. 623,456 (in millions of rupiah) in 2017, Rp. 496,207 (in millions of rupiah) in 2018 experienced a decrease in EVA value from the previous year, Rp. 537,199 (in millions of rupiah) in 2019 the EVA value again increased, in 2020 Bank Sumut Syariah experienced a decrease in the positive EVA value of Rp. 506,628, in 2021 Bank Sumut Syariah has again succeeded in increasing the positive EVA value of IDR 608,185. Management has succeeded in meeting the expectations of both creditors and shareholders.

Analisis Kinerja Keuangan Bank Syariah dengan Metode Economic Value Added (EVA)

The purpose of this study is to use the Economic Value Added (EVA) method to detail PT Bank Muamalat Indonesia's financial performance from 2016 to 2021.Secondary data are used in this qualitative descriptive study. The Economic Value Added (EVA) method was used to detail the time series financial data for 2016 to 2021 that was distributed by PT Bank Muamalat Indonesia via its official website, www.bankmuamalat.co.id. According to the study's findings, PT Bank Muamalat Indonesia achieved an EVA value of pounds (EVA > 0) in the years 2016, 2018, 2019, 2020, and 2021. This indicates that the bank was capable of increasing revenue and reducing costs. PT Bank Muamalat Indonesia, on the other hand, was unable to support bank fees or generate economic value addition in 2017 (EVA < 0).In addition, it is possible to assert that the EVA method is more successful in calculating the bank's financial performance.because the bank's value capital is taken into account by the EVA strategy.

Financial Performance Analysis and Valuation Assessment of Pt Bumi Resources in Comparison with Pt. Adaro Energy Tbk. and Pt. Bukit Asam Tbk. For Period of 2017-3rd Quarter of 2022

Indonesia is the third largest country in the world producing coal products. PT. Bumi Resource Tbk. (BUMI) is a coal industry company with the highest market capital, but its financial performance is not good when viewed from its net income in the 2017-3rd quarter of 2022. Financial ratio analysis is used to evaluate the company’s financial performance. This analysis uses the provisions of the ministry No.KEP-100/MBU/2002 which is divided into 4 factors, namely profitability, liquidity, activity and solvency ratio. Economic Value Added (EVA) and FCFF valuation are the methods used in this research. For external analysis, researchers use PEST analysis. The researcher found that BUMI’s financial performance was categorized as an unhealthy company based on its financial ratio analysis with an average rating of B. Based on the EVA method, BUMI’s financial performance was considered not good considering that its value was always negative. From the FCFF valuation, the Intrinsic Value of BUMI is IDR 250.29 when the current price is IDR 147. So, the BUMI company is concluded to be undervalued.

ANALYSIS OF FINANCIAL PERFORMANCE USING ECONOMIC VALUE ADDED (EVA), MARKET VALUE ADDED (MVA), AND FINANCIAL VALUE ADDED (FVA) METHODS IN PT. MAYORA INDAH, TBK PERIOD 2019 – 2021

Financial performance reflects the company's ability to manage its financial soundness level during a certain period. The purpose of this study is to determine the measurement of the financial performance of PT Mayora Indah Tbk for the 2019 – 2021 period using the Economic Value Added (EVA), Market Value Added (MVA), and Financial Value Added (FVA) methods. Data collection techniques used, namely the study of literature and study of documentation. The type of data used is secondary data sourced from the Indonesia Stock Exchange website and the company's official website. The results of the study show that the financial performance of PT Mayora Indah Tbk for the 2019 – 2021 period using the EVA method has a positive value (EVA > 0), which means that the company's management has succeeded in creating economic added value for the company. Then the MVA method also has a positive value (MVA > 0), which means the company is able to increase the value of the capital invested by the funder. As well as the FVA method, it also has a positive value (MVA > 0), which means that the company has succeeded in providing financial added value. The creation of more financial value when the company's net profit is able to cover the equivalent depreciation (ED).

Performance evaluation based on economic value added in transportation companies

Financial performance can be measured by various measurement methods, one of which is Economic Value Added (EVA). EVA is a performance measurement that considers the benefits based on the added value that can be obtained. Measuring the performance of transportation companies is currently very necessary considering that technological developments have brought many changes to the transportation industry. This research was conducted at PT Blue Bird Tbk. Secondary data was obtained through annual financial reports for the 2019-2021 period on the IDX website and supporting websites using the documentation method. Data were analyzed in four stages of EVA Performance measurement which consisted of NOPAT (Net Operating After Taxes), Invested Capital, WACC (Weight Average Cost of Capital), and Capital Charge. The results of the study using the EVA method obtained an EVA value 0 (negative value), meaning that the company was not successful in producing economic added value. The decline in the value of EVA is suspected to be due to several factors such as the COVID-19 pandemic where restrictions on community activities and the availability of online transportation were imposed.

ANALISIS PERBANDINGAN KINERJA KEUANGAN DENGAN METODE ECONOMIC VALUE ADDED DAN MARKET VALUE ADDED PADA PT INDOSAT .TBK DAN PT XL AXIATA TBK ( PERIODE TAHUN 2016-2021)

In the midst of intense competition between operators, every company is required to improve the quality of service and products they have. Companies are also required to focus on important aspects related to the performance of a company. This study aims to determine the comparison of financial performance between PT Indosat Tbk and PT XL Axiata in the 2016-2021 period using the Economic Value Added (EVA) and Market Value Added (MVA) methods. This research is quantitative research that originates from secondary data, namely the annual financial reports of PT Indosat Tbk and PT XL Axiata Tbk in the form of statements of financial position and statements of income for the companies for the 2016-2021 period. The results of the analysis as a whole show fluctuating values. The value generated by the EVA method shows that 1 (one) company produces a positive value or > 0, while 1 (one) company produces a negative value or < 0. The results of calculating the MVA value show that both companies are able to produce an MVA value > 0. This shows that the company succeeded in increasing the value of capital invested by shareholders.

Analisis Kinerja Keuangan Perusahaan Dengan Metode Economic Value Added (EVA) Dan Financial Value Added (FVA) Pada PT. Indosat Tbk

PT Indonesian Satellite Corporation Tbk is an international telecommunication service provider in Indonesia. PT Indosat as a company that has provided and serves a very strong and storied development. Together become the largest telecommunication andmultimedia company in Indonesia for cellular services (Satelindo, IM3, StarOne). Each company has a financial statement in each period, if you want to assess whether the company is healthy or can not be seen from the company's financial performance in each period. One of them can use the method of Economic Value Added (EVA) and Financial Value Added (FVA). The purpose of this study to determine the effect of the company's performance on Indosat, using EVA and FVA method, in order to determine whether or not the added value of the company PT. Indosat Tbk. The method used in this research is Descriptive with methods that can be analyzed financial data at PT Indosat company from 2012-2016. The results of this study indicate that the added value of PT. Indosat Tbk in 2012 and 2016 and there is no added value in 2013-2015 using EVA analysis method. Then the analysis using the FVA method of value added in 2012-2016 which means showing the value added financial for the company or net profit of the company and depreciation able to cover equivalent depreciation.
 
 Keyword : Financial Performance, EVA, FVA

ANALISIS PENILAIAN PERUSAHAAN DENGAN MENGGUNAKAN RASIO PROFITABILITAS DAN ECONOMIC VALUE ADDED (EVA)

This study aims to analyze the financial performance of PT Alam Sutera Realty Tbk for the period 2017-2021 by using the profitability ratio (ROI parameter) and the economic value added (EVA) method. The type of research used is descriptive research with a quantitative approach. The object of this research is a company listed on the IDX, PT Alam Sutera Realty Tbk for the period 2017-2021. The results indicate that the results of measuring financial performance using profitability ratios with ROI parameters as a whole can be said to be good because the average value is positive, which is 2.35%. While the measurement results using the EVA method show a positive average value, which is Rp. 12.074.826-, which means the company has succeeded in creating added value, although in certain years it has decreased.

Analisis Kinerja Keuangan PT Anabatic Technologies Tbk Sebelum Dan Selama Pandemi Covid-19 Menggunakan Metode Economic Value Added (EVA) Periode 2017-2021

Abstract: The purpose of this research is to find out PT Anabatic Technologies financial performance Tbk before and during covid-19 pandemic using Economic Value Added (EVA) method. EVA method shows success in creating added value for shareholders and investors. This is a quantitative research with documentary data type using secondary data from the annual financial statements of PT Anabatic Technologies Tbk for the period 2017-2021 obtained on the website of PT Anabatic Technologies Tbk with documentation analysis techniques and analytical methods using Economic Value Added (EVA) method. From the research, the company’s EVA value before the covid-19 pandemic was positive, that the company can provide an appropriate return on the investment made by investors. Meanwhile, during Covid-19 pandemic, company's EVA value is negative, it means the company cannot return the appropriate investment to investors.

Comparative Analysis of Financial Performance Using Financial Ratios and Economic Value Added

This study aims to determine 1) monitor the financial performance of PT. Indofood Sukses Makmur Tbk. based on Financial Ratios 2) financial performance of PT. Indofood Sukses Makmur Tbk. based on Economic Value Added (EVA) 3) calculated based on the financial performance of PT. Indofood Sukses Makmur Tbk. based on Financial Ratios and EVA. Results Based on the research shows that the liquidity ratio is measured using the Current Ratio (CR). the average CR was 159% or 1.59 times, indicating that the company cannot afford the short term or the debt is due soon. The solvency ratio is measured using the Debt to Equity Ratio (DER) the average DER is 92.72%, indicating that the company uses other parties' capital more than its own capital. Activity Ratio is measured using TATO. TATO obtained an average of 74% or 0.74 times indicating ineffective asset turnover or the company has not maximized assets in generating sales. Profitability ratios are measured using ROE. ROE of 11.48% was obtained, indicating that the company does not yet have equity in obtaining company profits or profits. Meanwhile, by using the EVAmethod, the average EVA is 1,288,895 which shows positive results or EVA > 0. From the results of this explanation it can be said that the measurement of financial performance is better using the EVA method.

PERBANDINGAN ANTARA ECONOMIC VALUE ADDED (EVA) DENGAN RETURN ON ASSETS (ROA) DALAM MENILAI KINERJA KEUANGAN PERUSAHAAN

This study aims to compare the Economic Value Added (EVA) method with Return On Assets (ROA) in assessing the company's financial performance on IDX BUMN20 shares on the Indonesia Stock Exchange. Based on the results of the comparison discussion between EVA and ROA methods, it can be seen that there are differences in the two financial measuring instruments. This difference is caused because the ROA calculation does not pay attention to the cost of capital, while in the EVA method, the cost of capital is included in the calculation so that the EVA method is more profitable than ROA. However, the ROA method can be used as a supporter of EVA in assessing the company's financial performance.

Financial Performance Analysis Using the Economic Value Added Method in the Food and Beverage Sub-Sector Listed on the Indonesia Stock Exchange

This study aims to determine the financial performance using the Economic Value Added (EVA) method in food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the last five years (2016-2020 period). The research method used is a quantitative method with a descriptive approach. The data used is secondary data in the form of Company Financial Statements obtained from the official website of the Indonesia Stock Exchange. The results of the study were based on an analysis using the EVA method from five food and beverage companies that had good financial performance (positive EVA) during the 2016-2020 period, namely MLBI, MYOR, and ULTJ. Analysis of the company's performance with the method shows the EVA fluctuating results. This is because the value of NOPAT and capital charges is very influential on EVA results. Where if the NOPAT value is greater than the value of capital charges, the resulting EVA will increase and vice versa. The results of the EVA analysis show that positive accounting earnings do not always show the results that the EVA value is also positive. This is due to an increase in the cost of equity capital which greatly affects the value of WACC which results in an increase in the value of capital charges borne by the company, where the value of capital charges reduces the value of EVA.

Jakarta Islamic Index (JII) Financial Performance Analysis Using EVA and MVA Methods

Purpose – The study aims to examine the financial performance of firms listed on the Jakarta Islamic Index between 2018 and 2020 using the Economic Value Added (EVA) and Market Value Added (MVA) methods.
 Methodology/approach – The study is a descriptive quantitative study with the population is all companies listed on the Jakarta Islamic Index in 2028-2020. The purposive sampling method employed and determined the sample of seven companies. The data gained from the company's financial statements, accessed at www.IDX.co.id.
 Findings – According to the findings of this study, the company's financial performance using the EVA method is positive (EVA>0), indicating that the company can generate economic value added. With a positive number (MVA>0), the financial performance of the MVA is similarly good. It signifies that the company can generate market value-added and has managed to expand investor wealth.
 Novelty/value – The concept of measuring financial performance based on Value-added (economic value added - EVA and Market Value added - MVA) to overcome the limitations of financial ratio analysis. These concepts are crucial indicators of an investment's ability to create wealth. By using EVA and MVA, this study examined the financial performance of companies listed on the Jakarta Islamic Index.