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p-Index From 2021 - 2026
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All Journal Journal Online Manajemen ELPEI (JOMEL)
Elis Susanti
Institut Ilmu Hukum Dan Ekonomi Lamaddukelleng
Decision Sciences, Operations Research & Management

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Analisis Economic Value Added ( EVA ) Untuk Mengukur Kinerja Keuangan PT Kalbe Farma Tbk Andi Jamaluddin; Elis Susanti
Jurnal Online Manajemen ELPEI Vol 6 No 2 (2026)
Publisher : STIM-LPI Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58191/jomel.v6i2.551

Abstract

Economic Value Added (EVA) is a financial performance measurement method that assesses a company's ability to create economic value added for shareholders by taking into account the cost of capital. This study aims to analyze the financial performance of PT Kalbe Farma Tbk during the 2021–2025 period using the Economic Value Added (EVA) method. This study employed quantitative data. The research data were obtained through documentation and library research. The population consisted of the financial statements of PT Kalbe Farma Tbk, while the sample comprised the company's financial statements for the five-year period from 2021 to 2025. The data analysis technique used the Economic Value Added (EVA) method, which consists of four main components: Net Operating Profit After Tax (NOPAT), Invested Capital (IC), Weighted Average Cost of Capital (WACC), and Capital Charges (CC). The results showed that the financial performance of PT Kalbe Farma Tbk during the 2021–2025 period fluctuated. Nevertheless, based on the Economic Value Added (EVA) measurement criteria, the company's financial performance generated a positive EVA (EVA > 0). This indicates that the company was able to create economic value added because the return generated from its operating profit was greater than the cost of capital invested by the company.
Co-Authors Andi Jamaluddin