2143

Nama: Nurlaily Astika NIM: 197017009

Column1 Column2 Column3 Column4 Column5

PT Mayora Indah Tbk 2016 2017
Laba / Rugi (net) 1,845,683,269,238 2,186,884,603,474
Cash flow from operating 659,314,197,175 1,275,530,669,068
Cash flow from investment - 746,551,666,042 - 526,316,631,073
NCC (amortisasi/ depresiasi) 514,679,470,431 539,444,378,374
Beban Bunga - 356,714,077,463 - 386,922,167,017
Capital Expenditure 603,712,182,750 670,607,078,375
debt issued 4,450,000,000,000 5,825,000,000,000
debt repayment - 4,184,867,058,820 - 5,194,720,000,000
tax rate 0.25 0.25

Rumus untuk menghitung FCFE: FCFF = CFO + [Int x (1 –

FCFE = CFO – FC Inv + Net Borrowing CFO = Cash Flow from
CFO = Cash Flow from Operations (arus kas operasi) Int = Interest Expens
FC Inv = Fixed Capital Investment (Net Capital Expenditure) atau pengeluaran FC Inv= Fixed Capital In
investasi bersih investasi bersih
Net Capital Expenditure = Capital Expenditure – Depreciation Net Capital Expenditur
Net Borrowing = Jumlah Pinjaman Bersih diperoleh dari utang baru yang
diterbitkan dikurangi dengan pelunasan utang lama (Net Borrowing = Debt Issued –
Debt Repayment)

FCFF
3,000,000,000,000.00

2,500,000,000,000.00

2,000,000,000,000.00

1,500,000,000,000.00

1,000,000,000,000.00

500,000,000,000.00

-
2016 2017 2018 2019
-500,000,000,000.00
 Laba

Column6 Column7
2018 2019
1,760,434,280,304 2,039,404,206,764
459,273,241,788 3,303,864,262,122
- 1,196,001,406,035 - 1,845,317,472,514 CFO - CFO +
549,220,429,635 588,189,017,002
- 492,638,756,739 - 355,074,879,758
819,749,190,374 1,005,912,845,182
6,109,000,000,000 4,460,000,000,000
- 4,549,498,333,333 - 3,912,794,871,792
0.25 0.25 Rugi
2016
2017
FCFF = CFO + [Int x (1 – tax rate)] – FC Inv 2018
CFO = Cash Flow from Operations (arus kas dari operasi)
2019
Int = Interest Expense (beban bunga)
FC Inv= Fixed Capital Investment (Net Capital Expenditure) atau pengeluaran
investasi bersih
Net Capital Expenditure = Capital Expenditure – Depreciation 2016
2017
2018
2019

FCFE
4,000,000,000,000
3,500,000,000,000
3,000,000,000,000
2,500,000,000,000
2,000,000,000,000
1,500,000,000,000
1,000,000,000,000
500,000,000,000
-
2016 2017 2018 2019
CFO +

Kuadran 1 Profitable Buildout

Kuadran 1 Profitable Buildout
Kuadran 1 Profitable Buildout
Kuadran 1 Profitable Buildout

FCFF FCFE
302,745,926,758.75 2016 835,414,426,036
854,176,343,804.25 2017 1,774,647,969,067
- 180,734,586,505.25 2018 1,748,246,147,716
2,619,834,274,123.50 2019 3,433,345,562,150
2143

Column1 Column2 Column3 Column4 Column5 Column6 Column7 Column8

PT Ramayana Lestari Sentosa Tbk 2016 2017 2018 2019
Laba / Rugi (net) 408,479 406,580 587,105 647,898
Cash flow from operating 759,124 851,579 787,153 1,075,634
Cash flow from investment - 589,083 - 461,407 680,634 - 516,531
NCC (amortisasi/ depresiasi) 2,036,433 2,215,339 2,378,596 2,554,257
Beban Bunga 23,800 23,439 21,960 24,872
Capital Expenditure 135,346 140,144 107,706 133,276
debt issued - - - -
debt repayment - - - -
tax rate 0.25 0.25 0.25 0.25
*dalam jutaan rupiah

Rumus untuk menghitung FCFE: FCFF = CFO + [Int x (1 – tax rate)]

FCFE = CFO – FC Inv + Net Borrowing CFO = Cash Flow from Operation
CFO = Cash Flow from Operations (arus kas operasi) Int = Interest Expense (beban b
FC Inv = Fixed Capital Investment (Net Capital Expenditure) atau pengeluaran FC Inv= Fixed Capital Investment (
investasi bersih pengeluaran investasi bersih
Net Capital Expenditure = Capital Expenditure – Depreciation Net Capital Expenditure = Capita
Net Borrowing = Jumlah Pinjaman Bersih diperoleh dari utang baru yang
diterbitkan dikurangi dengan pelunasan utang lama (Net Borrowing = Debt
Issued – Debt Repayment)

FCFF
4,000,000.00 4,000,000
3,500,000.00 3,500,000
3,000,000.00 3,000,000
2,500,000.00 2,500,000
2,000,000.00 2,000,000
1,500,000.00 1,500,000
1,000,000.00 1,000,000
500,000.00 500,000
- -
2016 2017 2018 2019 2016 20
 Laba

CFO - CFO +

Rugi
2016 Kuadran 1
CFO + [Int x (1 – tax rate)] – FC Inv 2017 Kuadran 1
Cash Flow from Operations (arus kas dari operasi) 2018 Kuadran 1
Interest Expense (beban bunga) 2019 Kuadran 1
Fixed Capital Investment (Net Capital Expenditure) atau
uaran investasi bersih
FCFF
pital Expenditure = Capital Expenditure – Depreciation
2016 2,678,061.00
2017 2,944,353.25
2018 3,074,513.00
2019 3,515,269.00

FCFE
,000,000
,500,000
,000,000
,500,000
,000,000
,500,000
,000,000
500,000
-
2016 2017 2018 2019
Profitable Buildout
Profitable Buildout
Super Cashflow
Profitable Buildout

FCFE
2016 2,660,211
2017 2,926,774
2018 3,058,043
2019 3,496,615
2143

Column1 Column2 Column3 Column4 Column5 Column6

PT Matahari Department Store Tbk 2016 2017
Laba / Rugi (net) 2,019,705 1,907,077
Cash flow from operating 2,531,383 2,213,567
Cash flow from investment - 506,621 - 914,097
NCC (amortisasi/ depresiasi) - 271,901 - 303,394
Beban Bunga 31,896 35,602
Capital Expenditure 444,900 421,000
debt issued - -
debt repayment - -
tax rate 0.25 0.25
*dalam jutaan rupiah

Rumus untuk menghitung FCFE:

FCFE = CFO – FC Inv + Net Borrowing
CFO = Cash Flow from Operations (arus kas operasi)
FC Inv = Fixed Capital Investment (Net Capital Expenditure) atau pengeluaran
investasi bersih
Net Capital Expenditure = Capital Expenditure – Depreciation
Net Borrowing = Jumlah Pinjaman Bersih diperoleh dari utang baru yang diterbitkan
dikurangi dengan pelunasan utang lama (Net Borrowing = Debt Issued – Debt
Repayment)

FCFF
3,000,000.00

2,500,000.00

2,000,000.00

1,500,000.00

1,000,000.00

500,000.00

-
2016 2017 2018 2019
 Column7 Column8 Laba
2018 2019
1,097,332 1,366,884
1,971,466 1,909,218
- 689,069 - 456,809
- 327,800 - 341,800
35,282 40,614
CFO - CFO +
416,000 416,000
- -
- -
0.25 0.25

Rugi
2016
FCFF = CFO + [Int x (1 – tax rate)] – FC Inv 2017
CFO = Cash Flow from Operations (arus kas dari operasi) 2018
Int = Interest Expense (beban bunga) 2019
FC Inv= Fixed Capital Investment (Net Capital Expenditure) atau
pengeluaran investasi bersih
Net Capital Expenditure = Capital Expenditure – Depreciation
2016
2017
2018
2019

FCFE
2,500,000

2,000,000

1,500,000

1,000,000

500,000

-
2016 2017 2018 2019
CFO +

Kuadran 1 Profitable Buildout

Kuadran 1 Profitable Buildout
Kuadran 1 Profitable Buildout
Kuadran 1 Profitable Buildout

FCFF FCFE
2,382,306.00 2016 2,358,384
2,122,662.50 2017 2,095,961
1,909,727.50 2018 1,883,266
1,865,478.50 2019 1,835,018