PENENTUAN NILAI HARGA WAJAR SAHAM MENGGUNAKAN METODE DIVIDEN DISCOUNT (DDM) DAN PRICE EARNING RATIO (PER) PADA PT KALBE FARMA TBK
Abstract
Investing in stocks is inseparable from the characteristics of the relationship between return and risk. One of the risks that often occurs among investors is mispriced or wrong prices. To minimize this risk, investors must be able to assess the fair price of shares to find out what the true value of a stock is, so that it can provide optimal benefits in making investment decisions. This study aims to determine the fair price of PT Kalbe Farma Tbk's shares in 2020, and to determine the fair price of shares in the undervalued or overvalued category. The type of data used is secondary data in the form of financial statements for the 2015-2019 period. This study uses the Dividend Discount Model (DDM) with constant growth and Price Earning Ratio (PER). Based on the calculations and analysis that has been carried out at PT Kalbe Farma Tbk are Rp. 409,- per share in 2020. The investment decision that should be made is not to buy these shares and sell to investors who already own the shares. The decision taken is based on the stock market price in 2020 which is higher than the fair price of PT Kalbe Farma Tbk's shares or is over valued
Keywords : Stock Fair Value, Dividend Discount Model (DDM), Stock Fair Value, Price Earning Ratio (PER)
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www.kalbe.co.id diakses pada 28 Oktober 2021
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DOI: http://dx.doi.org/10.59112/ekowir.v18i01.204
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