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All Journal Journal of Economic, Bussines and Accounting (COSTING) Journal of Economics and Business UBS
Oktofa Yudha Sudrajad
Institut Teknologi Bandung
Economics, Econometrics & Finance

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Healthcare Company Valuation (Case Study Of Hospital ABC) Novia Zayetri; Oktofa Yudha Sudrajad
Journal of Economics and Business UBS Vol. 12 No. 2 (2023): Regular Issue
Publisher : UniSadhuGuna Business School

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52644/joeb.v12i2.152

Abstract

The acquisition company of Ministry Stated-Owned Enterprise (SOE) are a very important issue in Indonesia. Similar to other SOE holdings, the hospital will be grouped and managed by PT Pertamedika IHC, and the acquisition will benefit Hospital ABC, IHC, and all company stakeholders. This study assessing Hospital ABC’s current business environment, determine forecast financial performance and determine Hospital ABC’s Equity valuation. This study analyses the environmental aspects of Hospital ABC, both external and internal, as well as the healthcare sector. Research methodology using both qualitative and qualitative and case study design. This study collects primary data through interview management and from secondary data, author makes projections based on financial statement reports. This study computes valuation using the discounted cash flow method. The results show that the value of Hospital ABC Equity about Rp.330.301 million, 679% higher than Equity in 2021. By calculating value of equity Hospital ABC, management could get additional data from preparation of acquisition process.
VALUATION AND BUSINESS PERFORMANCE ANALYSIS OF PT. IMC PELITA LOGISTIK .TBK (PSSI) Pandumulia Segalapuja Hasayangan; Isrochmani Murtaqi; Oktofa Yudha Sudrajad
Journal of Economic, Bussines and Accounting (COSTING) Vol. 8 No. 2 (2025): COSTING : Journal of Economic, Bussines and Accounting
Publisher : Institut Penelitian Matematika, Komputer, Keperawatan, Pendidikan dan Ekonomi (IPM2KPE)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31539/costing.v8i2.13788

Abstract

This study investigates the valuation and financial performance of PT. IMC Pelita Logistik Tbk. (PSSI), a player in Indonesia's shipping and logistics industry. Using an absolute valuation method with Free Cash Flow to the Firm (FCFF) and Weighted Average Cost of Capital (WACC), PSSI's intrinsic value per share was determined to be US$ -0.0391, significantly below its market price of US$ 0.0278, indicating that the stock is overvalued. For relative valuation, the metrics used were Price to Earnings Ratio (PER), Price to Book Value (PBV), and Enterprise Value to EBITDA (EV/EBITDA). PSSI's PER (3.56) is lower than its peers (6.43), but its PBV (0.86) and EV/EBITDA (3.18) are higher than the average of its peers (0.68 and 2.33), indicating overvaluation. The author prioritizes EV/EBITDA as it provides a more comprehensive assessment compared to PER. The financial performance analysis includes profitability, liquidity, activity, and solvency ratios. The final recommendation for investors is to sell, as PSSI is overvalued based on absolute valuation, PBV, and EV/EBITDA metrics.
Co-Authors Isrochmani Murtaqi Novia Zayetri Pandumulia Segalapuja Hasayangan