| Home

Overview


Original Research

STOCK VALUATION IN ELECTRIC VEHICLE COMPANIES LISTED ON THE INDONESIAN STOCK EXCHANGE

PALTI MARULITUA SITORUS 1, and ANGGARA RAMADHAN 2.

Vol 18, No 10 ( 2023 )   |  DOI: 10.5281/zenodo.10029132   |   Author Affiliation: Master of Management, Faculty Economic and Business, Telkom University, West Java, Indonesia 1,2.   |   Licensing: CC 4.0   |   Pg no: 433-447   |   Published on: 06-10-2023

Abstract

The aim of this study is to estimate the fair value of shares in electric vehicle companies listed on the Indonesian Stock Exchange (BEI), namely PT. NFC Indonesia (NFCX), PT. Wijaya Karya (WIKA), PT. TBS Energi Utama (TOBA), and PT. Indika Energy (INDY). This study uses the discounted cash flow method with the free cash flow to firm approach and relative valuation with the price earning ratio (PER) and price-book value (PBV) approaches. Both methods use three scenarios: pessimistic, moderate, and optimistic. The results of both of these methods will give advice to the parties involved. The results of the study showed that with the DCF-FCFF methods, NFCX, TOBA, and INDY shares were undervalued in all scenarios, while WIKA was overvalued used in all scenarios.


Keywords

Valuation, Intrinsic Value, Discounted Cash Flow, Relative Valuation.