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Erill Nassyar
Politeknik Negeri Sriwijaya
Decision Sciences, Operations Research & Management

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Penilaian Harga Wajar Saham dengan Metode Price Earning Ratio (PER) dan Price to Book Value (PBV) pada PT Bumi Resources Tbk Periode 2021-2025 Erill Nassyar; Dewi Fadila; Heni Yuvita
JURNAL RISET MANAJEMEN (JURMA) Vol 4 No 3 (2026): September: JURNAL RISET MANAJEMEN (JURMA)
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jurma.v4i3.4844

Abstract

This study aims to assess the fair value of PT Bumi Resources Tbk's stock during the period 2021–2025 using the Price Earning Ratio (PER) and Price to Book Value (PBV) methods and to determine appropriate investment decisions based on the valuation results. This study is motivated by the high volatility of PT Bumi Resources Tbk's stock price, which does not always reflect the company's fundamental condition. The research uses a quantitative descriptive method with a fundamental analysis approach. The data used are secondary data obtained from annual reports, financial statements, and stock price data of PT Bumi Resources Tbk during 2021–2025. The analysis involves calculating Earnings Per Share (EPS), Book Value Per Share (BVPS), PER, PBV, and estimating stock fair value through both valuation methods. The results show that the PER and PBV methods can be applied to estimate the fair value of PT Bumi Resources Tbk's stock. The comparison between market price and estimated fair value indicates that the stock experienced undervalued and overvalued conditions in different periods. Therefore, PER and PBV methods can support investors in making rational investment decisions based on fundamental performance.
Co-Authors Dewi Fadila Heni Yuvita