Analisis Nilai Intrinsik Saham dengan Relative Valuation Techniques (Studi pada Perusahaan Sub Sektor Rokok yang Terdaftar di Bursa Efek Indonesia Periode 2013 – 2016)

Abstract

The purpose of this research is to know the value of the stock and the stock value position (overvalued, undervalued, or fairvalued) of the tobacco manufacturers that listing in Indonesia Stock Exchange period 2013 – 2016 using the method of assessment of the Price earning ratio (PER), Price book valued (PBV) ad Price sales ratio (PSR). The result of this research shows that 3 company's fairness stock price and investors decision. PT. Gudang Garam Tbk based on PER approach is in the undervalued, based on PBV and PSR is in the overvalued, investors decision is buy the undervalued share's. PT. HM Sampoerna Tbk is in the overvalued, Decision can be taken by prospective investors is to sell the share or hold the share, in the hope the stock price will continue to rise along with the development company that continues increased. PT Wismilak Inti Makmur Tbk based on PER approach is in the overvalued, based on PBV is in the overvalued, while based on PSR is undervalued. This condition show this company is in good performance, decsion can be taken by investors is sell or hold the shares in the hope the stock price will increased