VALUATION OF A STATE-OWNED ENTERPRISE CASE STUDY OF PT PINDAD (PERSERO)

• Main Author: Kusuma Sadewa, Lazuardy
• Format: Theses
• Language: Indonesia
• Subjects: Manajemen umum
• Online Access: https://digilib.itb.ac.id/gdl/view/40024
• Institution: Institut Teknologi Bandung

In 2017, PT Pindad known by the broader community as a weapons manufacturer, told the media that it would take corporate action in the form of an initial public offering. The action aimed at developing non-military products. This research was made to analyze the business and valuation of the company, to provide information to the public and investors about the prospects and value of the company. The method used in this study is the analysis of Discounted Cash Flow. The Discounted Cash Flow Analysis is one of the most popular valuation processes and is usually used to assess a company that is large, stable, and has positive cash flow. From the results of the analysis and assessment process, this study found that the company has great opportunities, minimal threats, financial ratios that tend to rise. The model of absolute valuation used in this study is free cash flow for companies that shows the results of PT Pindad's intrinsic value of IDR 1,492. The research also tried to show the valuation results with assumptions, to try to describe information and references for the public and investors