| Summary: | Capital market in Indonesia continues to grow and is experiencing a
positive trend. This is certainly not independent of Indonesia�s macro economy is
getting better, positive growth performance of listed companies (characterized by
increased company that went to public), and the development of financial
markets.
Indonesian macro economic growth, is inseparable from the growth of
existing industries, including heavy equipment industries. In the past three years
(2009-2011) the heavy equipment industry has grown quite encouraging, it can be
seen from the growth of industrial sectors that use heavy equipment such as
mining, farming, forestry, and construction. Estimated demand or heavy
equipment or the next 5 years (2012-2016) will continue to increase.
One company that has a good performance in the heavy equipment
industry is PT Intraco Penta Tbk. In May 2011, PT Intraco Penta Tbk was chosen
to be one of the best companies from 18 sectors were rated by investor magazine.
Winner determination sector refers to 8 criteria for best public company in 2011.
All o the criteria are combination of fundamental and technical performance.
The purpose of this study is to help investors who want to invest in the
stock market in particular stocks, get information on Indonesian macro economic
conditions, the growth of heavy industry and the intrinsic value of the share of PT
Intraco Penta Tbk, so get the most optimal return. The data used in this study is a
secondary data obtained by the Indonesia Stock Exchange, Bank Indonesia,
Central Bureau Statistik, and other sources.
In calculating the intrinsic value of stock of PT Intraco Penta Tbk, this
study uses stock fundamental analysis approach begins by analyzing the macro
economic conditions in Indonesia, the heavy equipment industry, and the last is
company (in this case is PT Intraco Penta Tbk). Financial statement data used is
the 5 year (2006-2010) is projected or 6 years (2011-2016). In calculating the
intrinsic value of stock of PT Intraco Penta Tbk, this study uses Free Cash Flow
to The Equity (FCFE), Discounted Dividend Model (DDM) and Pricing Earning
Ration (PER). Base on calculation for the methods, the result for the intrinsic
value of the stock of PT Intraco Penta Tbk was undervalued against its market
price on september 30, 2011.
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