Pharmaceutical Sub-sector Research Articles

The Influence Tax Avoidance, Cash Flow Volatility and Capital Expenditure Toward Cash Holding In Pharmaceutical Sub-Sector Consumer Goods Industry Listed at Indonesia Stock Exchange

This study aims to determine the influence of Tax Avoidance, Cash Flow Volatility and Capital Expenditure toward Cash Holding in pharmaceutical sub-sector consumer goods industry listed at Indonesia Stock Exchange. This research is based on quantitative data type and the data source is from secondary data. The unit analysis and observation in this study pharmaceutical sub-sector consumer goods industry listed at Indonesia Stock Exchange, with a total population of 10 companies. From this population, 5 companies are chosen by purposive sampling technique throughout 8 periods of time, specifically from 2014 – 2021 which sum up to 40 samples. The method of analysis used in this study is multiple linear regression analysis. This analysis includes descriptive statistics, classical assumption test, multiple regression analysis, hypothesis testing through t and F test, and coefficient of determination test. The result of the t-test indicate that the Tax Avoidance has a significant effect on Cash Holding, Cash Flow Volatility has no effect and not significant on Cash Holding, and Capital Expenditure has no effect and not significant on Cash Holding. The result of the F test indicate that Tax Avoidance, Cash Flow Volatility and Capital Expenditure have a significant effect on Cash Holding.

Analisis Profitabilitas pada Perusahaan Farmasi di Bursa Efek Indonesia Tahun 2016-2020

Analysis of the profitability of a company is a very important activity because the results will be related to the development and implementation of future operational evaluations of the company. In addition, it is also one of the factors that support the description of a company's performance. In this study, the researcher wants to analyze the correlation or influence of factors in the form of activity, liquidity, leverage, and company size on increasing company profitability, especially the pharmaceutical sub-sector on the Indonesia Stock Exchange 2016-2020. The methodology used is quantitative using multiple linear regression analysis model. The results showed that the activity proxied by TATO (Total Assets Turn Over) did not contribute and had a negative direction on profitability. Then, Liquidity which is proxied by CR (Current Ratio) contributes and has a positive direction. Meanwhile, Leverage which is proxied by DAR (Debt to Assets Ratio) contributes and has a negative direction. Last but not least, Company Size as a proxy for SIZE (Ln Total Assets) does not contribute and has a positive direction on the profitability of pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange for the 2016-2020 period.
 Keywords: Profitability, Activity, Liquidity, Laverage, Firm Size

THE EFFECT OF SALES, PRODUCTION COSTS, TOTAL DEBT AND WORKING CAPITAL ON NET PROFIT OF MANUFACTURING COMPANIES PHARMACEUTICAL SUB SECTOR

This study examined the effect of sales, production costs, total debt, and working capital on the net profit of pharmaceutical sub-sector manufacturing companies listed on the Indonesia Stock Exchange in 2017-2020. The sample selection technique used was purposive sampling and obtained 10 pharmaceutical sub-sector manufacturing companies listed on the Stock Exchange. This study used balanced panel data with 40 observations and estimates (fixed-effect model). The results indicated that sales and working capital did not influence net income. Meanwhile, production costs positively and significantly influenced net income. The total debt negatively and significantly influenced net income in the pharmaceutical sub-sector manufacturing companies listed on the IDX in 2017-2020.

PENGARUH RETURN ON INVESTMENT (ROI), RETURN ON EQUITY (ROE) DAN LEVERAGE TERHADAP RETURN SAHAM” (Studi Normatif Perusahaan Manufaktur Sub Sektor Farmasi Bursa Efek Indonesia Tahun 2015-2019)

The share price is the price of a share that occurs on the stock market at a certain time by market participants. (Kurnia, 2019). Shares are part of the owner in the company, where each share gives voting rights to the owner of the share. Return has its own advantages so that investors can enjoy the investment that can be made. Investment will provide benefits with various levels, of course, investors (investors) will not invest. So that the investment, whether it is in a short time or continuously with the main aim of obtaining profits, is referred to as reciprocity, either directly or indirectly. Descriptive statistics convey an explanation of a data that can be observed from the number of average values (mean), the size of the digression, maximum, minimum, describing the standard to prove whether the allocation variable is normal or there are constraints. The description of descriptive statistics was carried out on the population used in this study, namely the pharmaceutical sub-sector manufacturing companies listed on the Indonesian stock exchange from 2015 to 2019. This study uses stock returns as the dependent variable, while the independent variable is return on investment (ROI). ), return on equity (ROE) and leverage.

Working Capital Strategy on Profitability before and During the Covid-19 Pandemic in the Indonesia Stock Exchange

The purpose of this study was to determine the effect of working capital strategy on profitability before and during the Covid-19 pandemic on the Indonesia Stock Exchange. The population used in this study is the restaurant, hotel & tourism sub-sector companies; pharmaceutical sub-sector; as well as the telecommunications sub-sector listed on the Indonesia Stock Exchange which was conducted in the 2nd quarter of 2018 to the 3rd quarter of 2021 (14 periods). With a total sample of 22 companies. The sampling technique was carried out using purposive sampling method. This study uses secondary data in the form of financial statements obtained from the official website of the Indonesia Stock Exchangewww.idx.co.id. The data analysis technique in this study used multiple linear regression analysis with dummy variables. By calculating descriptive statistics, multiple linear regression test, multicollinearity test, autocorrelation test, heteroscedasticity test, model fit test, regression coefficient test, and different test. The results showed that CCC, WCIA, WCFA, and Dummy together had a significant effect on ROA. CCC has no and no significant effect on ROA, WCIA and WCFA partially have a significant effect on ROA, Dummy has a negative and significant effect on ROA. And WCIA has a parallel different influence on ROA before and during the Covid-19 pandemic, WCFA has an intersecting different influence on ROA before and during the Covid-19 pandemic.

ANALISIS PENGARUH EVA (ECONOMIC VALUE ADDED) DAN MVA (MARKET VALUE ADDED) TERHADAP RETURN SAHAM PERUSAHAAN MANUFAKTUR SUBSEKTOR FARMASI DI BURSA EFEK INDONESIA

Companies that are trying to enter the capital market aim to provide a general picture of the company, especially how the company is performing so that it can attract investors to invest their capital. Investors need measurement tools to inform the company's performance in order to get benefits or a profitable rate of return. This study aims to analyze the effect of Economic Value Added (EVA) and Market Value Added (MVA) on stock returns in pharmaceutical sub-sector companies. This research belongs to the type of quantitative research using a positivist paradigm. The population used is manufacturing companies in the pharmaceutical sub-sector with sampling using purposive sampling method to obtain samples that can represent the research criteria in order to obtain 8 companies that have met the specified criteria. The analytical method used is multiple linear regression analysis. From the results of the analysis, it is found that EVA (Economic Value Added) has no effect on stock returns, while MVA (Market Value Added) has an effect on stock returns of pharmaceutical manufacturing companies listed on the IDX for the 2015 – 2019 period.

The Effect of Debt to Equity Ratio and Current Ratio on Return on Assets

The purpose of this study is to see how the Debt To Equity Ratio and Current Ratio affect the Return On Assets in pharmaceutical sub-sector manufacturing companies listed on the IDX from 2015 to 2019. Purposive sampling was used to determine the sample size in this study. Verificative and descriptive approaches were used in this study. Quantitative data analysis was used in this study. Based on the results of the partial test, it shows that the Debt To Equity Ratio has a significant negative effect on Return On Assets, and the Current Ratio has a significant positive effect on Return On Assets in Pharmaceutical Sub-Sector Manufacturing Companies Listed on the IDX in 2015-2019. Simultaneously, the Debt To Equity Ratio and Current Ratio have a significant positive effect on Profitability (ROA) in Pharmaceutical Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange in 2015-2019. The percentage contribution of the influence of Debt To Equity Ratio and Current Ratio to Return On Assets is 25%, while the remaining 75% can be explained by other factors not examined in this study.

The Effect of Price Earning Ratio, Firm Size, and Corporate Social Responsibility on Firm Value (Empirical Study on Pharmaceutical Sub-Sector Companies Listed on The Indonesia Stock Exchange 2016 – 2020 Period)

Investors can use the firm value to see the company's performance in the past and predict the company's performance in the future. There are many factors that can affect the firm value in the future, including the company's ability to generate profits, the scale of the company, and the company's responsibility to stakeholders. However, there is a difference between expectations and the phenomena that occur in the field regarding these factors. The purpose of this research was to determine the effect of Price Earning Ratio, Firm Size, and Corporate Social Responsibility either partially or simultaneously on the value of pharmaceutical companies listed on the Indonesia Stock Exchange for the 2016-2020 period. The type of data used in this research is quantitative data, namely the annual financial statements of pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange. The sample selection in this research was based on purposive sampling method, so that the sample used in this research amounted to 45 companies for 5 years. The data analysis technique used is multiple linear regression analysis. The results showed that partially Price Earning Ratio had a significant positive effect on firm value, while Firm Size and Corporate Social Responsibility had no significant effect on firm value. Simultaneously, Price Earning Ratio, Firm Size, and Corporate Social Responsibility have a significant effect on the value of pharmaceutical companies listed on the Indonesia Stock Exchange by 19.4%.

ANALISIS ALTMAN Z-SCORE UNTUK MENILAI TINGKAT KESEHATAN KEUANGAN PERUSAHAAN MANUFAKTUR SUB SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2017-2020

This study aims to analyze the Altman Z-Score to assess the level of financial soundness of manufacturing companies in the pharmaceutical sub-sector. This research uses descriptive quantitative method. The type of data applied is quantitative data. Quantitative data in the form of business entity financial data obtained from annual financial reports that have been audited and published in pharmaceutical sub-sector manufacturing companies listed on the Indonesia Stock Exchange for the period 2017 to 2020. Based on the results of the analysis, it can be seen that in 2017 and In 2018, there were five pharmaceutical companies that were in the healthy category and prone to bankruptcy. In the healthy category, namely PT Kalbe Farma Tbk, PT Industri Jamu and Pharmacy Sido Muncul Tbk, PT Tempo Scan Pacific Tbk, PT Darya-Varia Laboratoria Tbk, and PT Merck Tbk. Furthermore, there are four pharmaceutical companies that are in the category of prone to bankruptcy, namely, PT Kimia Farma Tbk, PT Indofarma Tbk, PT Phapros Tbk, and PT Pyridam Farma Tbk. Then for the category of bankrupt pharmaceutical companies in 2017 no one was in the bankruptcy zone. In 2019 there were two pharmaceutical companies that experienced a decline, namely, PT Kimia Farma Tbk which was previously in the bankruptcy prone category to be in the bankrupt category. And also happened to PT Merck Tbk, which was previously in the healthy category to be in the category of prone to bankruptcy. So that in 2019 there were pharmaceutical companies in the healthy category, four pharmaceutical companies in the bankrupt category, and one pharmaceutical company in the bankrupt category. In 2020 there were two pharmaceutical companies that experienced another decline, namely PT Darya-Varia Laboratoria Tbk which was previously in the healthy category into a bankruptcy-prone category, and PT Phapros Tbk which previously was in the bankruptcy-prone category into a bankrupt category. PT Kimia Farma Tbk remains in the bankrupt category. Meanwhile, PT Pyridam Farma Tbk experienced an increase from previously being in the category of prone to bankruptcy to being in the healthy category. So that in 2020 there are four pharmaceutical companies in the healthy category, three pharmaceutical companies in the bankruptcy prone category, two pharmaceutical companies in the bankrupt category.

PENGARUH RETURN ON EQUITY TERHADAP NILAI PERUSAHAAN DENGAN CORPORATE SOCIAL RESPONSIBILITY SEBAGAI VARIABEL MODERATING PADA PERUSAHAAN MANUFAKTUR SUBSEKTOR FARMASI PERIODE 2016-2020

The manufacturing industry is an industry that excels compared to other sectors, despite the pressure from the coronavirus outbreak. conventional medicine, pharmacy with a growth percentage of 5.59 percent. This study has the aim of understanding the partial relationship of X with Y and Z moderating X against Y in the Pharmacy sub-sector manufacturing industry listed on the Indonesia Stock Exchange (IDX) for the 2016-2020 period. The research method used is descriptive quantitative, and the population used is the entire manufacturing industry focused on the pharmaceutical sub-sector with a total of 10 companies and a sample of 7 companies, the observation period is 2016-2020. The results showed that the tcount of the Return On Equity (ROE) variable on Firm Value (X versus Y) using SPSS showed tcount > ttable (5.278 > 2.035) and showed sig results of (0.000 < 0.05). And Corporate Social Responsibility (CSR) which is used for the moderating variable, the results of the MRA test are obtained showing the results of sig 0.011

Pengaruh Faktor Fundamental Terhadap Harga Saham Perusahaan Sub Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia Periode 2015-2020

This research aims to analyze and test the effect of fundamental factors projected by Current Ratio (CR), Debt to Equity Ratio (DER), Return On Asset (ROA), and Earning Per Share (EPS) on the share price of pharmaceutical subsector companies listed on the Indonesia Stock Exchange for the period 2015-2020. This research used secondary data in the form of company financial statements with a total of 30 research samples. Sampling techniques use purposive sampling with criteria. The research data in the test used the Eviews 9.0 program with panel data regression analysis methods. The results showed that the variable Debt to Equity Ratio (X2) partially significant effect on the share price of pharmaceutical subsector companies listed on the Indonesia Stock Exchange for the period 2015-2020. While The Variabel Current Ratio (X1), Return On Asset (X3), , Earnings Per Share (X4) partially no effect on the share price of pharmaceutical subsector companies listed on the Indonesia Stock Exchange for the period 2015-2020.

Implications of national tax policy on local pharmaceutical production in a southwestern state nigeria \u2013 qualitative research for the intersection of national pharmaceutical policy on health systems development

BackgroundUniversal access to quality and affordable medicines is one of the targets of the Sustainable Development Goals (SDGs). Access to essential medicines is defined as the availability of medicine at an affordable price in public and private health institutions including retail pharmacies in the proximity of less than an hour from the home of the population. The dependence on importation to meet the drug needs of an expanding population has implications on the growth of the local pharmaceutical industry, availability, and affordability of essential medicines in the country. This study aims to understand the dynamics of tariffs and tax policy on local drug production in the pharmaceutical industry in Nigeria.MethodsThis was a qualitative study involving the use of Key Informant Interviews (KIIs). A total of 15 stakeholders were interviewed. Interviews conducted were analysed thematically. The data generated were analysed using Atlas.Ti version 8.2.ResultsAssessment of the pharmaceutical industry sub-sector underscores myriads of challenges facing the industry and explains why the pharmaceutical industries in Nigeria are performing sub-optimally. Key stakeholders in the sector expressed concern about the fact that substantial percentage of drugs consumed in Nigeria are imported. Local manufacturers are underperforming due to several factors. Some highlighted factors were unfriendly tax environment, high cost of production, infrastructural deficit, low patronage from the government, and lack of access to low-interest rate loans. However, tax incentives and tax cuts are proven strategies to encourage and facilitate the growth of entrepreneurs in the pharmaceutical industry.ConclusionsStakeholders’ perspective of implications of the tax environment on the pharmaceutical sector of Nigeria revealed the unfriendliness of the government policy to local manufacturers. Although the checklist for availability and prices of essential medicines in Osun state, Nigeria revealed that the pre-selected drugs were available in the facilities, the observed prices further affirmed the relative difficulty that is experienced by local manufacturers to compete with imported brands of the same drugs.

ANALISA RASIO LAPORAN KEUANGAN UNTUK MENILAI KINERJA PERUSAHAAN SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2019-2020

This study aims to determine the improvement of financial performance during the pandemic in the pharmaceutical sector listed on the Indonesia Stock Exchange (IDX). The approach method used is a quantitative descriptive approach. The type of data used is secondary data obtained from the Indonesia Stock Exchange, namely the financial statements of the Pharmaceutical Sub-Sector Companies from 2019 to 2020. The ratio analysis used in this study includes analysis of liquidity, solvency, activity and profitability ratios, as well as additional ratios from researchers. The previous ones are growth ratio and valuation ratio. The results of the study show that the liquidity ratio of the financial power of PT Merck Indonesia Tbk for the 2019-2020 period is intended for the current ratio to absorb a share in the size, which is quite helpful in balancing the addition of other pharmaceutical companies. The solvency ratio of PT Kalbe Farma Tbk's financial power for the 2019-2020 period intended that the debt to asset ratio absorb the helping measure, and the debt to equity ratio absorb the helping measure because it has a low excess profit. The profitability ratio of PT Kalbe Farma Tbk's financial power in the era of The 2019-2020 period represents the return on assets (ROA) as part of the supporting measure, and the return on equity (ROE) absorbs the part in the said-help measure, although the start of the 2020 period is likely to undergo a downturn. The ratio of progress to the financial power of PT Indo Farma Tbk in the 2019-2020 period was also followed by PT. Kalbe Farma Tbk designates sales progress through an increase in life, genuine benefit progress through a downturn, and an increase in sales progress through an increasing life, although listed companies have the opportunity to go through a downturn, they can still live a life of good progress.

The Influence of the Microenvironment on Company Value with the Macro Environment as a Moderator Variable of the Pharmaceutical Sub-Sector Listed on IDX

This study purposed to determine the impact of the microenvironment on firm value with the macro environment as the moderator variable. This research population is the pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange in terms 2015-2020. Samples that suit the criteria are eight companies. The data were analyzed using panel data regression with a multiplication interaction structure so that there were 48 observations. The results showed that the Fixed Effect is the best model. The study results simultaneously show that the microenvironment is measured using investment decision variables, market penetration, and inventory turnover. The macro-environment, as measured using the GDP variable, has a significant and positive effect on firm value. Partly, investment decisions and inventory turnover have a positive and significant effect on firm value, while market penetration has no impact on firm value. Meanwhile, GDP can only moderate investment decisions and inventory turnover and not moderate market penetration.

Pengaruh Return On Equity, Debt To Asset Ratio, Earning Per Share, Total Asset Turnover dan Firm Size Terhadap Harga Saham Pada Peruahaan Manufaktur Sub Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia Periode 2015-2019

This reaserch aims to determine the effect of Return On Equity, Debt to Asset Ratio, Earning Per Share, Total Asset Turnover and Firm Size to Stock Price inPharmaceutical Sub-Sector Manufacturing companies listed on the Indonesia Stock Exchange (BEI)2015-2019 period. This research was conducted in a descriptive quantitative manner using secondary data obtained on the Indonesia Stock Exchange. The population used in this study amounted to 10 Pharmaceutical Sub-Sector Manufacturing companies listed on the Indonesia Stock Exchange for the period2015-2019. The sampling technique used purposive sampling method and obtained 9 Pharmaceutical Sub-Sector Manufacturing companies that were used as samples. The data analysistechnique used is multiple linear regression. The results of data analysis, partially ROE has a significant positive effect on Stock Price, DAR partially has a significant effect on Stock Price, EPS partially has no significant negative effect on Stock Price, TATO has no significant positif effect on Stock Price, Partially Firm Size has no significant negative effect on Stock Price. Meanwhile, the results of the F test show that Return On Equity, Debt to Asset Ratio, Earning Per Share, Total Asset Turnover and Firm Size simultaneously have a significant effect on Stock Price.

Prediksi Harga Saham Subsektor Farmasi Menggunakan Geometric Brownian Motion

Investing in stocks is a popular type of investment today. During the current COVID-19 pandemic, the shares of companies in the pharmaceutical sub-sector are becoming more attractive. Stock price movements determine whether investors will increase their investment in a company or withdraw their money. To minimize the risk of investor loss, forecasting is carried out on the daily closing of stock prices. Forecasting is the best method to predict future stock prices Geometric Brownian motion is a method used to predict time series data, where random variables follow Brownian motion. In this study, simulation and analysis of stock returns and fluctuations (volatility) of 5 companies from the basic industry and chemical sector (Basic Industry & Chemicals), pharmaceutical sub-sector on the IDX will be carried out. The five companies are PT Darya-Varia Laboratoria Tbk (DVLA), PT Indofarma (Persero) Tbk (INAF), PT Kimia Farma (Persero) Tbk (KAEF), PT Kalbe Farma Tbk (KLBF), and PT Industri Jamu and Pharmaceutical Sido. Muncul Tbk (SIDO). After the Kolmogorov-Smirnov normalization test, the stocks that meet the normal distribution are KLBF and SIDO. Then the predicted MAPE value of the two stocks is calculated. The MAPE values for KLBF at 100 iterations, 1000 iterations and 10000 iterations were 2.1073%, 1.4382% and 1.2847%.. MAPE values for SIDO at 100 iterations, 1000 iterations and 10000 iterations are 2.0136%, 2.2568%, and 2.0677%.

Stock Prices Affected by Debt to Equity Ratio and Net Profit Margin in Pharmaceutical Sub-Sector Companies Listed on The Indonesia Stock Exchange (IDX) For the 2019-2020 Period

The purpose of this research is to determine the effect of debt to equity ratio and net profit margin on the stock price of Pharmaceutical companies on the Indonesia Stock Exchange. The type of approach in this research is quantitative—the type of analysis using associative analysis with the classical assumption method, model testing, and hypothesis testing. Simultaneous research results affect stock prices. Partially debt to equity ratio and net profit margin affect stock prices. The coefficient of standardization of the most significant beta is the variable net profit margin, so it can be concluded that the most influential variable is the variable net profit margin.

Pengaruh Intellectual Capital Terhadap Kinerja Keuangan (Studi Empiris Perusahaan Manufaktur Sub Sektor Farmasi Yang Terdaftar Di Bursa Efek Indonesia Periode Tahun 2017-2020

This study aims to examine Customer Capital, Human Capital and Structural Capital as components of Intellectual Capital on Financial Performance. Data obtained from secondary data from the annual reports of pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange during the 2017-2020 period with a total of 10 companies. Data analysis was performed using multiple linear regression with SPSS version 16 for windows program.The results of this study indicate that thevariable Customer Capital has no significant effect on Financial Performance in Pharmaceutical Sub-Sector Companies for the 2017-2020 period. While thevariables Human Capital and Structural Capital have a significant effect on Financial Performance in Pharmaceutical Sub-Sector Companies for the 2017-2020 period. The F test shows that Customer Capital, Human Capital and Structural Capital Simultaneously Affect Financial Performance in Manufacturing Companies in the Pharmaceutical Sub-Sector Listed on the Indonesia Stock Exchange for the 2017-2020 Period.

Impact of the Covid 19 Pandemic on the Financial Performance of Consumer Goods Industry in 2019-2020 on the Indonesia Stock Exchange

Covid -19 pandemic that announced by the Indonesian government on March 2, 2020, may have an impact on the company's financial performance, marked by layoffs, decreased productivity, and decreased purchasing power of the people. This study aims to determine the financial performance of companies in the consumer goods industry sector in 2019 - 2020 (food and beverage sub-sector with pharmaceutical sub-sector) listed on the Indonesia Stock Exchange. The financial performance referred to in this study is measured by Current Ratio/CR, Debt Ratio/DR, Total Asset Turnover/TATO, Return On Equity/ROE, and Price Earning/PE. This study found that the financial performance of companies in the consumer goods industry and the financial performance of companies in the food and beverage sub-sector as measured by CR, DR, TATO, and PE increased, but ROE decreased during the pandemic Covid-19. On the other hand, the financial performance of the pharmaceutical sub-sector companies as measured by DR, TATO, ROE, and PE increased, and CR decreased during the Covid-19 pandemic.

Stock Valuation in Pharmaceutical Sub-Sector Companies using the Discounted Cash Flow and Relative Valuation Methods in the 2013-2020 Period

This research aims at calculating the fair value of shares of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX). The data used in this research is historical data from the 2013-2020 financial statements, which are used as the basis for projections in 2021-2025. The method used in this research is Discounted Cash Flow (DCF) method with Free Cash Flow to the Firm (FCFF) approach and Relative Valuation method with Price to Earning Ratio (PER) and Price to Book Value (PBV) approaches in three scenarios. The three scenarios used are the optimistic scenario (condition above industry growth), the moderate scenario (the most likely condition for the company), and the pessimistic scenario (the average condition of the industry). The results of the research showed that by using the DCF-FCFF method, KAEF and PYFA stocks experienced overvalued conditions in all scenarios. Meanwhile, KLBF and DVLA stocks were undervalued in all scenarios. Then, from the calculation of the Relative Valuation method, each company was still within the industry range in all scenarios. Overall, KAEF stocks were overvalued by 57.817%, KLBF stocks were undervalued by 7.879%, DVLA stocks were undervalued by 370.865%, and PYFA stocks were overvalued by 16.662% both in DCF method and in Relative Valuation method.