<![CDATA[This study examines the financial performance of PT Astra International Tbk during the 2021–2025 period from a Value-Based Management (VBM) perspective by applying five value-added indicators: Economic Value Added (EVA), Financial Value Added (FVA), Market Value Added (MVA), Refined Economic Value Added (REVA), and Shareholder Value Added (SVA). The research employed a descriptive quantitative design using supporting data obtained from the company's annual financial reports over the five-year period. Data were collected through documentation and literature review, then analyzed using the calculation formulas for each method. The findings indicate that EVA, FVA, and SVA consistently remained positive with an upward trend, reaching their highest values in 2025, indicating the company's success in creating economic value, financial value, and shareholder value. In contrast, MVA remained negative throughout the observation period. Meanwhile, REVA recorded a positive value only in 2024. These patterns are associated with the company's substantial investment activities, the high market-based cost of capital, as well as the dynamics of the automotive industry and global economic conditions. Overall, PT Astra International Tbk. was considered capable of maintaining positive operational performance while continuing to create value.]]>
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