ANALISIS EKUITAS: INDUSTRY ANALYSIS Pertemuan 10 -mupo-

Presentasi berjudul: "ANALISIS EKUITAS: INDUSTRY ANALYSIS Pertemuan 10 -mupo-"— Transcript presentasi:

1

2 ANALISIS EKUITAS: INDUSTRY ANALYSIS Pertemuan 10 -mupo-
Mata kuliah : F Pengantar Analisis Pendapatan Tetap Dan Ekuitas Tahun : 2010 ANALISIS EKUITAS: INDUSTRY ANALYSIS Pertemuan mupo-

3 ANALISIS EKUITAS: INDUSTRY ANALYSIS
Materi: Review : INDUSTRY ANALYSIS Kasus : mengenai Industry Analysis Bina Nusantara University

4 1. INDUSTRY ANALYSIS 1.1 Sensitivity to business cycles 1.2 Factors affecting sensitivity of earnings to business cycles: Sensitivity of sales of the firm’s product to the business cycles Operating leverage Financial leverage 1.3 Industry life cycles

5 Returns on Equity, 2005

6 Rate of Return, 2005

7 Industry Cyclicality

8 Operating Leverage of Firms A and B Throughout the Business Cycle

9 A stylized Depiction of the Business Cycle

10 1.3 Industry life cycles Stage Sales Growth Start-up Rapid & Increasing Consolidation Stable Maturity Slowing Relative Decline Minimal or Negative

11 The Industry Life Cycle

12 2. Kasus : Dibawah ini adalah data rasio keuangan sebuah perusahaan berbanding dengan rata-rata industrinya pada periode yang sama. Berikan analisa anda dari sisi: kemampuan membayar hutang jangka pendek analisa investasi analisa profitabilitas kesimpulan analisa solvabilitias Rasio Perusahaan Rata-rata industri Quick Ratio 0,7 times 1,5 times Inventory Turn over 4,3 times 4,0 times Days’ Sales in Receivable 25,1 days 28,6 days Operating Profit Margin 19,7 % 15% Net Profit Margin 6,7% 18,3% Debt Ratio 57.6% 32,8% Times Interest Earned 19,2 times 31,8 times Return on Equity 2,4% 5.1% Dividend Payout Ratio 35% 25% Price Earning Ratio 4,3 x 5,6 x