ANALISIS LAPORAN KEUANGAN DENGAN MENGGUNAKAN EVA(Economic Value Added) PT KIMIA FARMA (Persero) Tbk. TAHUN 2007 – 2012

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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