NOPAT = EAT + Beban Bunga
NOPAT 2007 = Rp. 52.189.435.346 + Rp. 6.795.088.424 = Rp. 58.984.523.770
NOPAT 2008 = Rp. 55.393.774.869 + Rp. 16.873.686.055 = Rp. 72.267.460.924
NOPAT 2009 = Rp. 62.506.876.510 + Rp. 25.486.369.011 = Rp. 87.993.245.521
NOPAT 2010 = Rp. 138.716.458.866 + Rp. 14.336.646.263 = Rp. 153.053.105.129
NOPAT 2011 = Rp. 171.763.175.754 + Rp. 12.059.178.398 = Rp. 183.822.354.152
NOPAT 2012 = Rp. 205.763.997.378 + Rp. 6.872.403.387 = Rp. 212.636.400.765
IC = kas + modal kerja + aktiva tetap
IC 2007 :
= Rp. 224.513.805.980 + Rp. 555.400.000.000 + Rp. 493.292.331.069 = Rp. 1.273.206.137.049
IC 2008 :
= Rp. 221.955.781.752 + Rp. 555.400.000.000 + Rp. 495.051.915.969 = Rp. 1.272.407.697.721
IC 2009 :
= Rp. 163.821.008.601 + Rp. 555.400.000.000 + Rp. 544.946.800.214 = Rp. 1.264.167.808.815
IC 2010 :
= Rp. 265.445.594.112 + Rp. 555.400.000.000 + Rp. 517.742.984.557 = Rp. 1.338.588.578.669
IC 2011 :
= Rp. 199.385.754.109 + Rp. 555.400.000.000 + Rp 531.369.951.092 = Rp. 1.286.155.705.201
IC 2012 :
= Rp. 316.497.879.806 + Rp. 555.400.000.000 + Rp. 570.549.181.621 = Rp. 1.442.447.061.427
WACC = {D x rD (1-T)} + (E x rE)
WACC 2007 :
={ 0,3452066318905849 x 0,01419453616100401 (1 – 0,3671701040862914) + (0,6547933681094151 x 0,094 )
= 0,0646514734803673
WACC 2008 :
={ 0,3444114672405362 x 0,03388935108282294 (1 – 0,423617070876996) + (0,6555885327594638 x 0,0997)
= 0,072089649750356
WACC 2009 :
={ 0,3643535408100397 x 0,04467247472010863 (1 – 0,3732378525904197) + (0,6356464591899603x 0,1125)
= 0,081711767345319
WACC 2010 :
={ 0,3277983180068737 x 0,0 2639014998114776(1 – 0,2233609701948146) + (0,6721984146953047 x 0,2498)
= 0,174633593910008
WACC 2011 :
={ 0,301904167070564 x 0,02226021889169244 (1 – 0,2596640120292755) + (0,698095832929436 x 0,3093 )
= 0,2208964342204333
WACC 2012 :
={ 0,305735849331641 x 0,01082585539343802 (1 – 0,2605982984010443) + (0,694264150668359 x 0,3693 )
= 0,258839061111766
D = (total hutang / total hutang + ekuitas) x 100%
D 2007 = (Rp. 478.711.551.186 / Rp. 1.386.739.149.721) x 100% = 34,52066318905849 %
D 2008 = (Rp. 497.905.256.839 / Rp. 1.445.669.799.639) x 100% = 34,44114672405362 %
D 2009 = (Rp. 570.516.166.178 / Rp. 1.565.831.266.274) x 100% = 36,43535408100397 %
D 2010 = (Rp. 543.257.475.734 / Rp. 1.657.291.834.312) x 100% = 32,77983180068737 %
D 2011 = (Rp. 541.736.739.278 / Rp. 1.794.399.675.018) x 100% = 30,1904167070564 %
D 2012 = (Rp. 634.813.891.119 / Rp. 2.076.347.580.785) x 100% = 30,5735849331641 %
rD = (biaya bunga / total hutang) x 100%
rD 2007 = (Rp. 6.795.088.424 / Rp. 478.711.551.186) x 100% = 1,419453616100401 %
rD 2008 = (Rp. 16.873.686.055 / Rp. 497.905.256.839) x 100% = 3,388935108282294 %
rD 2009 = (Rp. 25.486.369.011 / Rp. 570.516.166.178) x 100% = 4,467247472010863 %
rD 2010 = (Rp. 14.336.646.263 / Rp. 543.257.475.734) x 100% = 2,639014998114776 %
rD 2011 = (Rp. 12.059.178.398 / Rp. 541.736.739.278) x 100% = 2,226021889169244 %
rD 2012 = (Rp. 6.872.403.387 / Rp. 634.813.891.119) x 100% = 1,082585539343802 %
T = (Beban pajak / EBT) x 100%
T 2007 = (Rp. 30.280.491.696 / Rp. 82.469.927.042) x 100% = 36,71701040862914 %
T 2008 =(Rp. 40.712.081.273 / Rp. 96.105.856.142) x 100% = 42,3617070876996 %
T 2009 = (Rp. 37.222.944.074 / Rp. 99.729.820.584) x 100% = 37,32378525904197 %
T 2010 = (Rp. 39.894.779.486 / Rp. 178.611.238.352) x 100% = 22,33609701948146 %
T 2011 = (Rp. 60.243.883.939 / Rp. 232.007.059.693) x 100% = 25,96640120292755 %
T 2012 = (Rp. 72.520.454.677 / Rp. 278.284.452055) x 100% = 26,05982984010443 %
E = (total ekuitas / total hutang + ekuitas) x 100%
E 2007 = (Rp. 908.027.598.535 / Rp. 1.386.739.149.721) x 100% = 65,47933681094151 %
E 2008 = (Rp. 947.764.542.800 / Rp. 1.445.669.799.639) x 100% = 65,55885327594638 %
E 2009 = (Rp. 995.315.100.096 / Rp. 1.565.831.266.274) x 100% = 63,56464591899603 %
E 2010 = (Rp. 1.114.028.943.712 / Rp. 1.657.291.834.312) x 100% = 67,21984146953047 %
E 2011 = (Rp. 1.252.662.935.740 / Rp. 1.794.399.675.018) x 100% = 69,8095832929436 %
E 2012 = (Rp. 1.441.533.689.666 / Rp. 2.076.347.580.785) x 100% = 69,4264150668359 %
rE = 1 / PER
rE 2007 = 1 /(Rp. 100/ 9,40) = 0,094
rE 2008 = 1 /(Rp. 100/ 9,97) = 0,0997
rE 2009 = 1 /(Rp. 100/11,25) = 0,1125
rE 20010 = 1 /(Rp. 100/24,98) = 0,2498
rE 20011 = 1 /(Rp. 100/30,93) = 0,3093
rE 20012 = 1 /(Rp. 100/36,93) = 0,3693
EVA = NOPAT – CC (Capital Charges)
EVA 2007 = Rp. 58.984.523.770 – Rp. 82.314.652.804,46432 = – Rp. 23.330.129.034,46432
EVA 2008 = Rp. 72.267.460.924 – Rp. 91.727.425.268,36374 = – Rp. 19.459.964.344,36374
EVA 2009 = Rp. 87.993.245.521 – Rp. 103.297.385.879,333 = – Rp. 15.304.140.358,333
EVA 2010 = Rp. 153.053.105.129 – Rp. 233.762.534.259,8569 = – Rp. 80.709.429.130,8569
EVA 2011 = Rp. 183.822.354.152 – Rp. 284.107.209.131,1677 = – Rp. 100.284.854.979,1677
EVA 2012 = Rp. 212.636.400.765 – Rp. 373.361.643.083,1905 = – Rp. 160.725.242.318,1905
CC = WACC x IC
CC 2007 = 0,0646514734803673 x Rp. 1.273.206.137.049 = Rp. 82.314.652.804,46432
CC 2008 = 0,072089649750356 x Rp. 1.272.407.697.721 = Rp. 91.727.425.268,36374
CC 2009 = 0,081711767345319 x Rp. 1.264.167.808.815 = Rp. 103.297.385.879,333
CC 2010 = 0,174633593910008 x Rp. 1.338.588.578.669 = Rp. 233.762.534.259,8569
CC 2011 = 0,2208964342204333 x Rp. 1.286.155.705.201 = Rp. 284.107.209.131,1677
CC 2012 = 0,258839061111766 x Rp. 1.442.447.061.427 = Rp. 373.361.643.083,1905
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