Husnayain Business Review
Vol. 6 No. 2 (2026)

Financial Performance Analysis of PT Bukalapak Tbk After the Initial Public Offering (IPO)

Muhammad Aditya (Politeknik Negeri Sriwijaya)
M. Yusuf (Politeknik Negeri Sriwijaya)
Claudya Nurcahaya (Politeknik Negeri Sriwijaya)



Article Info

Publish Date
25 Sep 2026

Abstract

This research is motivated by the phenomenon of the decline in PT Bukalapak Tbk's stock price after conducting an Initial Public Offering (IPO) in 2021. This study aims to analyze the financial performance of PT Bukalapak Tbk after the Initial Public Offering (IPO) using the Economic Value Added (EVA) and Market Value Added (MVA) methods. The population in this study is the financial statements of PT Bukalapak Tbk for the period 2021-2024, while the research sample consists of data from the financial statements of PT Bukalapak Tbk for the period 2021-2024 obtained from the website www.idx.co.id. The type of data in this study is quantitative data, namely data in the form of numbers with secondary data sources. Data collection techniques were carried out through literature and documentation studies. Data analysis techniques were carried out using quantitative descriptive analysis techniques using the Economic Value Added (EVA) and Market Value Added (MVA) calculation methods. The results of the study show that the EVA value of PT Bukalapak Tbk for the period 2021-2024 is still dominated by negative numbers, which indicates that the company is still struggling to create economic added value for stakeholders. PT Bukalapak Tbk's MVA (Monetary Value) from 2021 to 2024 showed a downward trend each year, reaching negative figures. Overall, PT Bukalapak Tbk's performance has been suboptimal, particularly in terms of creating added economic value and market value.

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Journal Info

Abbrev

hbr

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Husnayain Business Review (JHBR) is a peer-reviewed economic journal serving as a forum for Business Economics Scholars concerning to area of Accounting, Banking, Economics, Entrepreneurship, Finance, Human Resources Management, and Management. This open accessed Journal publishes original research ...