Analisis Penilaian Harga Wajar Saham Dengan Metode Discounted Cash Flow (Studi Kasus Pada PT Kalbe Farma Tahun 2022)

Abstract

Valuation of the fair price of shares is carried out to calculate and estimate the fair value of a company. The valuation results can be compared with the market value of a company that produces investment recommendations to investors. Valuation can be done by fundamental analysis and technical analysis. This study will discuss fundamental analysis using a top-down approach, in which this fundamental analysis pays attention to macroeconomic analysis, industry analysis, company analysis, and company value valuation. The valuation method used is the Discounted Cash Flow method with the free cash flow to the firm and free cash flow to the equity methods. The data used in this study are macroeconomic data, industry data, and historical data on company financial reports which are needed to provide assumptions related to the company's growth projections in the future. By conducting this analysis, this study is expected to provide insight into the macroeconomic prospects, the industry, and the fair value of PT. Kalbe Farma Tbk.