VALUASI SAHAM PT Wijaya Karya Tbk - WIKA EPS GROWTH/TAHUN ROE DER BI RATE HARGA SEKARANG YIELD SUN

(%) = = = = = 31% 21% 3.2 6.5% 2125

= = = = = = = = = = = = = = = = = = = = =

1% 1% 7.5% ROE 20.8% 13.3% 1 1 13.33 EARNING PREMIUM 13.3% 1.77 PER SUN 13.33 15.11 PER WAJAR 15.11 1148 1 1 -85.1%

EARNING PREMIUM (%)

PER SUN (X)

EARNING MULTIPLE PREMIUM

PER WAJAR (X)

HARGA WAJAR (Rp)

MARGIN Of SAFETY (%)

NB : Isi kolom warna Hijau

VALUASI SAHAM T Wijaya Karya Tbk - WIKA >15% >15% TOTAL YEARS <1,5X CAGR 31% 4 EPS AWAL EPS AKHIR 2008 2012 Rp26 Rp76

Dividend Payout Ratio

29%

+ +

BI RATE 6.5%

YIELD SUN 7.5%

: :

YIELD SUN 7.5%

x x

PER SUN 13.33

+ +

EARNING MULTIPLE PREMIUM 1.77

x x

EPS TAHUN TERAKHIR 76

HARGA SEKARANG 2125

: :

HARGA WAJAR 1148

VALUATION INPUT TUNING

WIJAYA KARYA (PERSERO) TBK (WIKA)

PT

Harga EPS (est) Dividend Payout Ratio BI Rate Risk Premium EPS Growth Projected PER Required Return

2,125 76 29.38 % 6.50 % 13 % 31 % 15.11 19.80%

Proyeksi EPS dan Dividend per Share Tahun EPS 1 99 2 130 3 170 4 222 5 290 Total 912 Projected Stock Price Total Stock Price 4,388 4,656

DPS 29 38 50 65 85 268

FAIR VALUE MARGIN OF SAFETY

1,887 -11.21%

EPS GROWTH/TAHUN ROE DER BI RATE HARGA SEKARANG YIELD SUN (%)

= = = = =

RUMUS VALUASI SAHAM Tiga Pilar Sejahtera Food Tbk - AI 43% 12% 1.1 6.5% 1320

= = = = = = = = = = = = = = = = = = = = =

1% 1% 7.5% ROE 12.2% 4.7% 1 1 13.33 EARNING PREMIUM 4.7% 0.63 PER SUN 13.33 13.96 PER WAJAR 13.96 1005 1 1 -31%

EARNING PREMIUM (%)

PER SUN (X)

EARNING MULTIPLE PREMIUM

PER WAJAR (X)

HARGA WAJAR (Rp)

MARGIN Of SAFETY (%)

NB : Isi kolom warna Hijau

RUMUS VALUASI SAHAM ilar Sejahtera Food Tbk - AISA >15% EPS AWAL EPS AKHIR >15% TOTAL YEARS <1,5X CAGR

2008 2012

Rp17 Rp72 4 43%

Dividend Payout Ratio

11%

+ +

BI RATE 6.5%

YIELD SUN 7.5%

: :

YIELD SUN 7.5%

x x

PER SUN 13.33

+ +

EARNING MULTIPLE PREMIUM 0.63

x x

EPS TAHUN TERAKHIR 72

HARGA SEKARANG 1320

: :

HARGA WAJAR 1005

VALUATION INPUT TUNING

Tiga Pilar Sejahtera Food Tbk - AISA

Harga EPS (est) Dividend Payout Ratio BI Rate Risk Premium EPS Growth Projected PER Required Return

1,320 72 11.08 % 6.50 % 5% 43 % 13.96 11.20%

Proyeksi EPS dan Dividend per Share Tahun EPS 1 103 2 148 3 213 4 305 5 437 Total 1,206 Projected Stock Price Total Stock Price 6,107 6,241

DPS 11 16 24 34 48 134

FAIR VALUE MARGIN OF SAFETY

3,670 178.05%

EPS GROWTH/TAHUN ROE DER BI RATE HARGA SEKARANG YIELD SUN (%)

= = = = =

RUMUS VALUASI SAHAM PT Arwana Citramulia Tbk - ARN 10% 26% 0.5 6.5% 850

= = = = = = = = = = = = = = = = = = = = =

1% 1% 7.5% ROE 26.3% 18.8% 1 1 13.33 EARNING PREMIUM 18.8% 2.51 PER SUN 13.33 15.84 PER WAJAR 15.84 1346 1 1 37%

EARNING PREMIUM (%)

PER SUN (X)

EARNING MULTIPLE PREMIUM

PER WAJAR (X)

HARGA WAJAR (Rp)

MARGIN Of SAFETY (%)

NB : Isi kolom warna Hijau

RUMUS VALUASI SAHAM Arwana Citramulia Tbk - ARNA >15% >15%

EPS AWAL EPS AKHIR TOTAL YEARS

2008 2012

Rp59 Rp85 4 10%

<1,5X CAGR

Dividend Payout Ratio

47%

+ +

BI RATE 6.5%

YIELD SUN 7.5%

: :

YIELD SUN 7.5%

x x

PER SUN 13.33

+ +

EARNING MULTIPLE PREMIUM 2.51

x x

EPS TAHUN TERAKHIR 85

HARGA SEKARANG 850

: :

HARGA WAJAR 1346

VALUATION INPUT TUNING

Arwana Citramulia Tbk - ARNA

PT

Harga EPS (est) Dividend Payout Ratio BI Rate Risk Premium EPS Growth Projected PER Required Return

850 85 47.06 % 6.50 % 19 % 10 % 15.84 25.30%

Proyeksi EPS dan Dividend per Share Tahun EPS 1 93 2 102 3 112 4 122 5 134 Total 564 Projected Stock Price Total Stock Price 2,125 2,390

DPS 44 48 53 58 63 265

FAIR VALUE MARGIN OF SAFETY

774 -8.95%

EPS GROWTH/TAHUN ROE DER BI RATE HARGA SEKARANG YIELD SUN (%)

= = = = =

RUMUS VALUASI SAHAM PT Arwana Citramulia Tbk - ARN 21% 15% 0.6 6.5% 43050

= = = = = = = = = = = = = = = = = = = = =

1% 1% 7.5% ROE 15.2% 7.7% 1 1 13.33 EARNING PREMIUM 7.7% 1.03 PER SUN 13.33 14.36 PER WAJAR 14.36 29941 1 1 -44%

EARNING PREMIUM (%)

PER SUN (X)

EARNING MULTIPLE PREMIUM

PER WAJAR (X)

HARGA WAJAR (Rp)

MARGIN Of SAFETY (%)

NB : Isi kolom warna Hijau

RUMUS VALUASI SAHAM Arwana Citramulia Tbk - ARNA >15% >15%

EPS AWAL EPS AKHIR TOTAL YEARS

2008 2012

Rp977 Rp2,085 4 21%

<1,5X CAGR

Dividend Payout Ratio

38%

+ +

BI RATE 6.5%

YIELD SUN 7.5%

: :

YIELD SUN 7.5%

x x

PER SUN 13.33

+ +

EARNING MULTIPLE PREMIUM 1.03

x x

EPS TAHUN TERAKHIR 2,085

HARGA SEKARANG 43050

: :

HARGA WAJAR 29941

VALUATION INPUT TUNING

Arwana Citramulia Tbk - ARNA

PT

Harga EPS (est) Dividend Payout Ratio BI Rate Risk Premium EPS Growth Projected PER Required Return

43,050 2,085 47.06 % 6.50 % 8% 21 % 14.36 14.20%

Proyeksi EPS dan Dividend per Share Tahun EPS 1 2,520 2 3,046 3 3,681 4 4,450 5 5,378 Total 19,075 Projected Stock Price Total Stock Price 77,228 86,205

DPS 1,186 1,433 1,732 2,094 2,531 8,977

FAIR VALUE MARGIN OF SAFETY

44,381 3.09%