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Abstract
This study aims to determine how the financial performance of PT. Kimia Farma Tbk using the Economic Value Added (EVA) analysis method. This research approach is descriptive quantitative by using EVA analysis. The sample of this research is PT. Kimia Farma Tbk during the period 2014-2019. The results showed that the NOPAT value in 2014-2018 increased, but in 2019 the NOPAT value decreased. This factor is caused by the operating profit before tax is smaller than the tax burden. WACC in 2014-2017 experienced an increase due to an increase in the cost of debt and capital. In 2018 and 2019 there was a decrease due to a decrease in the cost of debt and the cost of capital. Capital invested in 2014-2017 increased, while in 2018 and 2019 it decreased due to long-term liabilities that continued to decline. EVA in 2014-2018 has a positive value, meaning that the company is able to provide economic added value for investors. While in 2019 the EVA value was negative, this showed that there was no economic added value to the company.
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References
- Brigham, F. E., & Houston, F. J. (2010). Manajemen Keuangan . Jakarta: Selemba Empat.
- Fahmi, I. (2011). Analisis Kinerja Keuangan. Bandung: Alfabeta.
- Halim, A., Supomo, B., & Kusufi, M. s. (2017). Akuntansi Manajemen (Akutansi manajerial) Edisi 2 . Yogyakarta: BPFE.
- Harahap, S. S. (2010). Analisis Kritis Atas Laporan Keuangan. Jakarta: Rajawali Pers.
- Harmono. (2017 ). Manajemen Keuangan Berbasis Balanced Scorecard Ed 1 Cet 6. Jakarta: PT Bumi Aksara.
- Jumingan. (2011). Analisis Laporan Keuangan Cetakan Keempat. Jakarta: PT. Bumi Aksara.
- Kimia Farma. (2020). profil. Dipetik November 2, 2021, dari PT. Kimia farma Tbk: http://www.kimiafarma.co.id
- Kontan. (2020, Maret 27). Dipetik February 7, 2021, dari Kimia Farma (KAEF) tahun lalu rugi akibat lonjakan beban keuangan hingga 119%: http://kontan.co.id
- Prawinegoro, & Ari, P. (2008). Akuntansi Manajeme. Edisi 2. Jakarta: Penerbit Mitra Wicana Media
- Sawir, A. (2018). Analisis Kinerja Keuangan dan Perencanaan Keuangan Perusahaan. Jakarta: PT Gramedia Pustaka Utama.
- Sugiyono. (2013). Metode Penelitian Bisnis. Bandung: Alfabeta.
- Sugiyono. (2018). Metode Penelitian Kuantitatif, Kualitatif, dan Kombinasi (Mix Methods), Cetakan Ke-10. Bandung: Alfabeta.
- Suripto. (2015). Manajemen Keuangan; Strategi Penciptaan Nilai Perusahaan Melalui Pendekatan Economic Value Added. Yogyakarta: Graha Ilmu.
- www.idx.co.id
References
Brigham, F. E., & Houston, F. J. (2010). Manajemen Keuangan . Jakarta: Selemba Empat.
Fahmi, I. (2011). Analisis Kinerja Keuangan. Bandung: Alfabeta.
Halim, A., Supomo, B., & Kusufi, M. s. (2017). Akuntansi Manajemen (Akutansi manajerial) Edisi 2 . Yogyakarta: BPFE.
Harahap, S. S. (2010). Analisis Kritis Atas Laporan Keuangan. Jakarta: Rajawali Pers.
Harmono. (2017 ). Manajemen Keuangan Berbasis Balanced Scorecard Ed 1 Cet 6. Jakarta: PT Bumi Aksara.
Jumingan. (2011). Analisis Laporan Keuangan Cetakan Keempat. Jakarta: PT. Bumi Aksara.
Kimia Farma. (2020). profil. Dipetik November 2, 2021, dari PT. Kimia farma Tbk: http://www.kimiafarma.co.id
Kontan. (2020, Maret 27). Dipetik February 7, 2021, dari Kimia Farma (KAEF) tahun lalu rugi akibat lonjakan beban keuangan hingga 119%: http://kontan.co.id
Prawinegoro, & Ari, P. (2008). Akuntansi Manajeme. Edisi 2. Jakarta: Penerbit Mitra Wicana Media
Sawir, A. (2018). Analisis Kinerja Keuangan dan Perencanaan Keuangan Perusahaan. Jakarta: PT Gramedia Pustaka Utama.
Sugiyono. (2013). Metode Penelitian Bisnis. Bandung: Alfabeta.
Sugiyono. (2018). Metode Penelitian Kuantitatif, Kualitatif, dan Kombinasi (Mix Methods), Cetakan Ke-10. Bandung: Alfabeta.
Suripto. (2015). Manajemen Keuangan; Strategi Penciptaan Nilai Perusahaan Melalui Pendekatan Economic Value Added. Yogyakarta: Graha Ilmu.
www.idx.co.id