Compare Gunawan Dianjaya Steel

Jaya Pari Steel

Krakatau Steel

Note Use year 2007 – 2010 for the three steel companies (PT Krakatau Steel, PT Gunawan Dianjaya Steel and
For several ratios the CAGR will use years 2008-2010 due to the CAGR inability to generate valid data

Trend analysistn-t0 = Number of years

V(tn) = Ending Value
V(t0) = Beginning Value
Classified aspects:
aspects are revenue, return, market and debt performance.

Data
CAGR is the year-over-year growth rate of an investment over a specified period of time
In analyzing the performance trend of a company, Bambang will use several ratios which can be classified into four

Krakatau
Revenue
Net Income
Equity

Operating Profit/Laba usaha

jumlah hutang
jumlah modal
COGS/beban pokok pendapatan
O expense/ Beban Usaha
Compare 3 company: Jumlah Aset

PT Krakatau Steel
Aspects
2007 2008 2009
Revenue
Gross Profit Margin 11.95% 13.16% 7.01%
Operating Profit Margin 5.34% 6.59% 0.15%
Net Profit Margin 2.11% 2.23% 2.92%
COGS to Revenue 88.05% 86.84% 92.99%
Operating Expenses to Revenue 6.60% 6.57% 6.86%
Market
Earnings per share Rp31 Rp46 Rp39
Book value per share Rp2,537,166 Rp2,719,881 Rp2,902,919
Return
Return on Assets 2.82% 2.99% 3.87%
Return on Equity 6.18% 8.45% 8.52%
Debt
Debt to Equity 34.4% 142.5% 92.5%
Debt to Capital 52.9% 234.6% 162.5%
T Gunawan Dianjaya Steel and PT Jayapari Steel)
nability to generate valid data when one value (either ending value or beginning value) has a negative amount.

hich can be classified into four main aspects. Those aspects are revenue, return, market and debt performance.

2007 2008 2009 2010 Jayapari 2007

14,836,019 20,631,431 16,913,535 14,856,156 ###
313,441 459,571 494,672 1,062,683 41,556,177,061
5,074,332 5,439,761 5,805,838 9,293,915 ###

ting Profit/Laba usaha

1747731 7750931 5368783 6207932
3303465 3303465 3303465 8903014
/beban pokok pendapatan
ense/ Beban Usaha

katau Steel PT Gunawan Dianjaya Steel

2010 CAGR 2007 2008 2009 2010

15.04% 7.98% 21.01% 18.54% 11.44% 17.36%

6.68% 7.75% 14.86% 13.80% -16.63% 20.99%
7.15% 50.16% 7.76% 2.75% 9.14% 10.02%
84.96% -1.19% 78.99% 81.46% 111.39% 82.64%
8.36% 8.17% 6.15% 4.73% 5.18% 5.31%

Rp81 37.73% N/A N/A Rp82.00 Rp79.00

Rp589.15 -93.85% N/A N/A Rp57.84 Rp78.75

6.04% 28.94% 18.2% 4.0% 15.46% 15.95%

11.43% 22.78%  N/A N/A  31.65% 26.55%
66.8% 24.71% N/A N/A 99.73% 55.60%
69.7% 9.64% N/A N/A 57.65% 48.64%
tive amount.

erformance.

2008 2009 2010 PT Gunawan Dianj 2007 2008

### ### ### 1985 3021
49,157,545,353 1,917,377,909 28,445,580,508 154 83
### ### ###  N/A N/A 

295 417

1,568 2,461
122 143
847 2,093

PT Jaya Pari Steel

CAGR 2007 2008 2009 2010 CAGR

-6.16% 16.17% 15.75% 11.69% 13.03% -6.96%

12.20% 12.82% 13.42% 6.70% 8.98% -11.19%
8.92% 9.60% 6.71% 0.63% 6.65% -11.53%
1.52% 83.83% 84.25% 88.31% 86.97% 1.24%
-4.78% 3.35% 2.32% 4.99% 4.05% 6.49%

-3.65% Rp55.42 Rp65.54 Rp2.56 Rp37.93 -11.87%

36.14% Rp294.15 Rp359.70 Rp362.22 Rp400.18 10.81%

-4.28% 15.46% 12.31% 0.54% 6.92% -23.52%

-16.11% 18.84% 18.22% 0.71% 9.48% -20.46%
-44.25% 18.97% 42.49% 27.08% 30.99% 17.78%
-15.62% 55.53% 152.12% 97.64% 123.44% 30.51%
 2009 2,010
1642 1,710,131,747,278
150 171,427,614,845
474 645,713,287,080

- 273 359,000,000,000
473 398,879,525,740
820 820,000,000,000
1,829 1,413,250,956,160
85 90,756,876,018
970 1,074,569,612,752
 Krakatau Steel Gunawan Dianjaya Jayapari Steel
Financial Indicators Weight
Ratio Score Ratio Score Ratio
Return on Equity (ROE) 20 11.43% 16 26.55% 20 9.48%
Return on Investment (ROI) 15 13.77% 12 29.34% 15 10.65%
Cash Ratio 5 60.51% 5 0.89% - 12.17%
Current Ratio 5 177.29% 5 169.03% 5 276.83%
Collection Period 5 31.11 5 20.08 5 79.87
Inventory Turnover 5 160.92 3 118.86 4 99.58
Total Asset Turnover 5 84% 4 159.15% 5 104.01%
Total Equity/Total Asset 10 52.85% 9 60.09% 8 72.98%
Total Score 70 58 62
Rating AA (Healthy) AA (Healthy) A (Healthy)

Note: For the EBITDA, it is gotten from EBIT + Depreciation

Here, the EBIT can be derived from (Income before tax + Interest Expense – Interest Income)
Jayapari Steel
Score
14
9
2
5
5
4
4
8
50
A (Healthy)
 DuPont Component Krakatau Steel Gunawan Dianjaya Jaya Pari
Profit Margin Ratio 7.15% 10.02% 6.65%
Total Asset Turnover 0.84 1.59 1.04
Equity Multiplier 1.89 1.66 1.37

ROE 11.43% 26.55% 9.48%