Para suhu, saya baru belajar valuasi DCF, Saya pakai "2-stage FCFE model" dari Prof. Damodoran.
Saya mau sharing upload fail mulu, jadi saya sarikan saja model saya di bawah. Asumsi2 dasar : Forward looking Risk-free : 8%. Forward lloking Equity market premium : 10%. Beta, masing2 saham dari reuters. Financial report data based on Q3-2007. Debt to Equity constant. HASIL "2-stage FCFE" model saya : 1. ANTM 3-y G Assmpt. 20% 25% 30% 35% Price 4,769 5,323 5,921 6,562 2. BUMI 3-y G Assmpt. 25% 30% 35% Price 4,638 5,234 5,940 3. BLTA 3-y G Assmpt. 20% 25% 30% Price 2,287 2,582 2,901 4. UNSP 3-y G Assmpt. 25% 30% 35% Price 1,632 1,968 2,356 NB: assumsi 3 years EPS growth berdasarkan optimisme masing2 ... di annualized. Disclamer Mode On ... Setelah Q4-07 keluar ... model harus di update lagi. Kalo ngaco minta petunjuknya ... Peace, Wawan
