| Summary: | The aim of this research to understand how much value of firm of
Pegadaian is. This research uses Discounted Cash Flow method and free cash
flow to firm approach, based on cash flow estimation for next 5 years periods.
This cash flow estimation describe cash flow that could be produced for Capital
Provider.
Pegadaian is a BUMN that has goal to increase society welfare and
increase advantages by giving loan to small and medium enterprise, also doing
another activities that based on constitution.
The result of analyzes shows that: 1) For Indonesia Stable Growth
Scenario with 5,2% poin found value of firm of Pegadaian is Rp
6.060.425.000.000, 2) For Indonesia Stable Growth Scenario with 6% poin found
value of firm of Pegadaian is Rp 6.466.946.000.00 and 3) For Indonesia Stable
Growth Scenario with 4% poin found value of firm of Pegadaian is Rp
5.502.964.000.000. From the scenarios above could be found that the higher
growth in stable potision so that value of firm would be higher. The reason using
predicted value of firm of Pegadaian is to fingd out the sencitivities of economic
growth in Indonesia, included economic trend. Beside, using three scenarios
investor could estimate value of company using economic trend.
The conclution of this research that projection of annual report for next
five years could be used by management to make simulation for some assumption
so that management could be identify business risk or financial risk that give
impact to value of firm Pegadaian
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