Lampiran i

Daftar Perusahaan Sampel Manufaktur

Sampel
No. Kode Nama Perusahaan
1 ADES PT Ades Waters Indonesia Tbk
2 AQUA PT Aqua Golden Mississipi Tbk 1
3 CEKA PT Cahaya Kalbar Tbk
4 DAVO PT DavomasAbadi Tbk
5 DLTA PT Delta Djakarta Tbk
6 FAST PT Fast Food Indonesia Tbk 2
7 INDF PT Indofood Sukses Makmur Tbk
8 MYOR PT Mayora Indah Tbk 3
9 MLBI PT Multi Bintang Indonesia Tbk
10 PTSP PT Pioneerindo Gourment International Tbk
11 PSDN PT Prasidha Aneka Niaga Tbk
12 SKBM PT Sekar Bumi Tbk
13 SKLT PT Sekar Laut Tbk
14 STTP PT Siantar Top Tbk
15 SIPD PT Sierad Produce Tbk
16 AISA PT Tiga Pilar Sejahtera FoodTbk
17 TBLA PT Tunas Baru Lampung Tbk
18 ULTJ PT Ultra Jaya Milk Tbk
19 BATI PT BAT Indonesia Tbk
20 RMBA PT Bentoel International Investama Tbk 4
21 GGRM PT Gudang Garam Tbk 5
22 HMSP PT HM Sampoerna Tbk 6
23 ARGO PT Argo Pantes Tbk
24 ERTX PT Eratex Djaja Tbk
25 CNTX PT Century Textile Industry (Centex) Tbk
26 PAFI PT Panasia Filament Inti Tbk 9
27 RDTX PT Roda Vivatex Tbk
28 SSTM PT Sunson textile Manufacture Tbk
29 TEJA PT Textile Manufacturing Company Jaya Tbk
30 TFCO PT TIFICO Tbk
31 UNTX PT Unitex Tbk
32 SMRT PT SMART Tbk
33 HDTX PT Panasia Indosyntec Tbk
34 MYTX PT APAC Citra Centertex Tbk
35 DOIT PT Delta Dunia Petroindo Tbk
36 ESTI PT Ever Shine Textile Tbk
37 FMII PT Fortune Mate Indonesia Tbk
38 MYRX PT Hanson International Tbk 7

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39 SRSN PT Indo Acidatama Tbk
40 INDR PT Indorama Syntetics Tbk 10
41 KARW PT Karwell Indonesia Tbk
42 PBRX PT Pan Brothers Tex Tbk 8
43 BIMA PT Primarindo Asia Infrastructure Tbk 11
44 RICY PT Ricky Putra Globalindo Tbk
45 BATA PT Sepatu Bata Tbk 12
46 SIMM PT Surya Intrindo Makmur Tbk
47 BRPT PT Barito Pacific Timber Tbk 13
48 BSUC PT Daya Sakti Ungul Corporation Tbk 14
49 SULI PT Sumalindo Lestari Jaya Tbk
50 TIRT PT Tirta Mahakam Resources Tbk
51 FASW PT Fajar Surya Wisesa Tbk
52 INKP PT Indah Kiat Pulp & Paper Tbk 15
53 TKIM PT Pabrik Kertas Tjiwi Kimia Tbk
54 SPMA PT Suparma Tbk
55 SAIP PT Surabaya Agung Industry Pulp Tbk
56 INRU PT Toba Pulp Lestari
57 AKRA PT AKR Corporindo Tbk
58 BUDI PT Budi Acid Jaya Tbk 16
59 CLPI PT Colorpak Indonesia Tbk 17
60 ETWA PT Eterindo Wahanatama Tbk
61 LTLS PT Lautan Luas Tbk
62 POLY PT Polysindo Eka Perkasa Tbk
63 SOBI PT Sorini Agro Asia Tbk
64 TPIA PT Tri Polyta Indonesia Tbk
65 UNIC PT Unggul Indah Cahaya Tbk
66 DPNS PT Duta Pertiwi Nusantara Tbk
67 EKAD PT Ekadharma International Tbk 25
68 INCI PT Intanwijaya Internasional Tbk 24
69 KKGI PT Resource Alam Indonesia Tbk
70 AKKU PT Aneka Kemasindo Utama Tbk 18
71 AKTI PT Argha Karya Prima Industry Tbk
72 AMFG PT Asahimas Flat Glass Tbk
73 APLI PT Asiaplast Industries Tbk 19
74 BRNA PT Berlina Tbk
75 DYNA PT Dynaplast Tbk
76 IGAR PT Kageo Igar Jaya Tbk
77 LMPI PT Langgeng Makmur Plastik Industry Tbk
78 LAPD PT Leyland International Tbk
79 SIMA PT Siwani Makmur Tbk
80 FPNI PT Titan Kimia Nusantara Tbk
81 TRST PT Trias Sentosa Tbk

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 Lampiran i (lanjutan)
82 TALFA PT Tunas Alfin Tbk
83 YPAS PT Yanaprima Hastapersada Tbk
84 SNCB PT Holcim Indonesia Tbk 21
85 INTP PT Indocement Tunggal Perkasa Tbk
86 SMGR PT Semen Gresik (Persero) Tbk 20
87 ALMI PT Alumindo Light Metal Industry Tbk 22
88 BTON PT Beton jaya Manunggal Tbk
89 CTBN PT Citra Tubindo Tbk 23
90 INAI PT Indal Aluminium Industry Tbk
91 ITMA PT Itamaraya Gold Industry Tbk
92 JKSW PT Jakarta Kyoei Steel Works tbk
93 JPRS PT Jaya Pari Steel Tbk
94 LMSH PT Lion Mesh Prima Tbk
95 LION PT Lion Metal Works Tbk
96 PICO PT Pelangi Indah Canindo Tbk
97 TBMS PT Tembaga Mulia Semanan Tbk
98 TIRA PT Tira Austenite Tbk
99 KICI PT Kedaung Indah Can Tbk 26
100 KDSI PT Kedawung Setia Industrial Tbk
101 ARNA PT Arwana Citra Mulia Tbk 27
102 IKAI PT Intikeramik Alamasri Industry Tbk
103 KIAS PT Keramika Indonesia Assosiasi Tbk 28
104 MLIA PT Mulia Industrindo Tbk
105 TOTO PT Surya Toto Indonesia Tbk
106 KBLI PT GT Kabel Indonesia tbk
107 JECC PT Jembo Cable Company Tbk
108 KBLM PT Kabelindo Murni Tbk
109 IKBI PT Sumi Indo Kabel Tbk 29
110 SCCO PT Supreme Cable Manufacturing & Commerce
Tbk
111 VOKS PT Voksel Electric Tbk 30
112 ASGR PT Astra Graphia Tbk 31
113 MTDL PT Metrodata Electronics Tbk 33
114 MLPL PT Multipolar Corporation Tbk 32
115 MYOH PT Myoh Technologi Tbk
116 PTSN PT Sat Nusapersada 41
117 SQMI PT Allbond Makmur Usaha Tbk
118 ASII PT Astra International Tbk
119 AUTO PT Astra Otoparts Tbk 34
120 GJTL PT Gajah Tunggal Tbk
121 GDYR PT Goodyear Indonesia Tbk 35

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 Lampiran i (lanjutan)

122 HEXA PT Hexindo Adiperkasa Tbk

123 BRAM PT Indo Kordsa Tbk
124 IMAS PT Indomobil Sukses Internasional Tbk
125 INDS PT Indospring Tbk 36
126 INTA PT Intraco Penta Tbk
127 LPIN PT Multi Prima Sejahtera Tbk
128 MASA PT Multistrada Arah Sarana Tbk
129 NIPS PT Nipress Tbk
130 INTD PT Inter Delta Tbk
131 MDRN PT Modern International Tbk
132 KONI PT Perdana Bangun Pusaka Tbk
133 SQBI PT Bristol-Myers Sauibb Indonesia Tbk
134 DVLA PT Darya-Varia Laboratoria Tbk
135 INAF PT Indofarma (Persero) Tbk
136 KLBF PT Kalbe Farma Tbk 37
137 KAEF PT Kimia Farma (Persero) Tbk 38
138 MERK PT Merck Tbk
139 PYFA PT Pyridam Farma Tbk
140 SCPI PT Schering Plough Indonesia Tbk
141 TSPC PT Tempo Scan Pacific Tbk
142 TCID PT Mandom Indonesia Tbk
143 MRAT PT Mustika Ratu Tbk 39
144 PROD PT Sara Lee Body Care Indonesia Tbk
145 UNVR PT Unilever Indonesia Tbk 40
146 SMSM PT Selamat Sempurna Tbk
147 TURI PT Tunas Ridean Tbk
148 UNTR PT United Tractors Tbk
149 SUBA PT Suba Indah Tbk
150 SDYI PT Surya Dumai Industri Tbk
151 FPNI PT Fatrapolindo Nusa Industri
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

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 Lampiran ii

Perhitungan ROA tahun 2006-2008

NO NAMA PERUSAHAAN RETURN ON ASSET

(ROA)
2006 2007 2008
1 Aqua Golden Mississipi Tbk 0.061 0.074 0.082
2 Indofood Sukses Makmur Tbk 0.041 0.033 0.026
3 Mayora Indah Tbk 0.060 0.075 0.067
4 Bentoel International Investama Tbk 0.062 0.065 0.054
5 Gudang Garam Tbk 0.046 0.060 0.078
6 HM Sampoerna Tbk 0.279 0.231 0.241
7 Hanson International Tbk -0.138 -0.261 -0.112
8 Pan Brothers Tbk 0.018 0.030 0.004
9 Panasia Filament Inti Tbk -0.064 -0.093 0.251
10 Indorama Synthetics Tbk 0.003 0.004 0.012
11 Karwell Indonesia Tbk -0.232 0.020 0.396
12 Sepatu Bata Tbk 0.074 0.104 0.392
13 Barito Pasific Tbk 0.004 0.003 -0.197
14 Daya Sakti Unggul Corporation Tbk 0.075 -0.229 -0.329
15 Indah Kiat Pulp and Paper Tbk -0.035 0.017 0.013
16 Budi Acid Jaya Tbk 0.022 0.031 0.020
17 Colorpak Indonesia Tbk 0.058 0.058 0.078
18 Aneka Kemasindo Utama Tbk 0.002 0.001 0.085
19 Asiaplast Industries Tbk 0.0002 -0.016 -0.011
20 Semen Gresik (Persero) Tbk 0.173 0.208 0.238
21 Holcim Indonesia Tbk 0.025 0.024 0.037
22 Alumindo Light Metal Industry Tbk 0.067 0.023 0.003
23 Citra Tubindo Tbk 0.134 0.137 0.100
24 Intan Wijaya Internasional Tbk -0.027 0.022 0.024
25 Ekadarma Internasional Tbk 0.077 0.050 0.033
26 Kedaung Indah Can Tbk -0.106 0.196 0.035
27 Arwana Citramulia Tbk 0.059 0.069 0.074
28 Keramika Indonesia Assosiasi Tbk 0.184 -0.106 0.026
29 Sumi Indo Kabel Tbk 0.075 0.131 0.153
30 Voksel Electric Tbk 0.075 0.067 0.004
31 Astra Graphia Tbk 0.095 0.115 0.074
32 Multipolar Tbk 0.006 0.006 -0.017
33 Metrodata Electronik Tbk 0.025 0.023 0.006
34 Astra Otoparts Tbk 0.093 0.132 0.142
35 Goodyear Indonesia Tbk 0.056 0.073 0.001

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 Lampiran ii (lanjutan)

36 Indospring Tbk 0.004 0.016 0.035

37 Kalbe Farma Tbk 0.146 0.137 0.124
38 Kimia Farma (Persero) Tbk 0.035 0.038 0.038
39 Mustika Ratu Tbk 0.031 0.035 0.063
40 Unilever Indonesia Tbk 0.372 0.036 0.370
41 Sat Nusapersada Tbk 0.033 0.028 -0.005
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

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 Lampiran iii

Ringkasan perhitungan Economic Value Added (EVA)

1. Net Operating After Tax (NOPAT)

Perhitungan NOPAT tahun 2006-2008

(dalam Rp)
NO NAMA NOPAT
PERUSAHAAN 2006 2007 2008
1 Aqua Golden 55.139.747.263 56.317.508.789 129.822.968.143
Mississipi Tbk
2 Indofood Sukses 2.443.790.000.000 3.573.282.000.000 5.143.029.000.000
Makmur Tbk
3 Mayora Indah Tbk 127.069.926.971 175.503.117.368 272.939.423.253
4 Bentoel 167.542.830.702 381.486.439.761 415.179.239.881
International
Investama Tbk
5 Gudang Garam Tbk 2.784.267.000.000 3.287.569.000.000 3.941.487.000.000
6 HM Sampoerna 5.173.495.000.000 3.865.047.000.000 4.325.064.000.000
Tbk
7 Hanson -76.129.066.792 -68.470.691.895 -2.580.617.542
International Tbk
8 Pan Brothers Tbk 29.143.546.519 54.360.456.196 59.375.954.737
9 Panasia Filament -81.825.749.705 -83.772.005.622 -83.925.454.763
Inti Tbk
10 Indorama 5.743.709 11.852.029 817.814
Synthetics Tbk
11 Primarindo Asia 6.670.536.858 6.371.338.159 702.699.530
Tbk
12 Sepatu Bata Tbk 24.053.289.000 42.332.892.000 -15.088.376.000
13 Barito Pasific Tbk -183.560.329.652 -38.366.000.000 -2.486.177.000
14 Daya Sakti Unggul -9.421.575.021 -18.631.346.060 -45.540.461.183
Corporation Tbk
15 Indah Kiat Pulp and 266.252.738 244.295.706 153.519.123
Paper Tbk
16 Budi Acid Jaya Tbk 97.785.000.000 172.552.000.000 146.541.000.000
17 Colorpak Indonesia 18.574.141.250 22.782.656.215 42.828.544.057
Tbk
18 Aneka Kemasindo 165.513.585 1.407.196.210 -11.890.717.094
Utama Tbk
19 Asiaplast Industries 4.405.874.173 8.596.746.433 26.085.683.597
Tbk

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20 Semen Gresik 1.233.036.216 1.630.173.223 2.341.617.252

(Persero) Tbk
21 Holcim Indonesia 71.301.000.000 537.555.000.000 1.007.451.000.000
Tbk
22 Alumindo Light 138.087.485.808 84.850.809.242 115.889.614.113
Metal Industry Tbk
23 Citra Tubindo Tbk 19.104.751 17.726.829 19.863.202
24 Intan Wijaya 3.307.669.632 196.407.816 3.307.669.632
Internasional Tbk
25 Ekadarma 1.828.802.004 7.605.391.058 12.414.798.825
Internasional Tbk
26 Kedaung Indah Can -18.182.377.113 -31.046.263.308 10.035.384.349
Tbk
27 Arwana Citramulia 48.481.049.394 76.845.593.222 90.724.805.722
Tbk
28 Keramika Indonesia 1.411.921.088 29976.507.154 35.245.591.125
Assosiasi Tbk
29 Sumi Indo Kabel 63.486.868.000 82.039.226.597 104.433.967.143
Tbk
30 Voksel Electric Tbk 57.299.274.871 118.550.911.989 145.861.568.979
31 Astra Graphia Tbk 26.111.603.805 118.254.921.064 127.343.158,.531
32 Multipolar Tbk 479.274.000.000 2.726.518.000.000 3.173.455.000.000
33 Metrodata 40.593.513.02 80.584.051.257 204.472.147.335
Electronik Tbk
34 Astra Otoparts Tbk 258.061.000.000 475.631.000.000 613.756.000.000
35 Goodyear Indonesia 46.727.136.000 77.370.455.000 49.197.546.000
Tbk
36 Indospring Tbk -6.359.545.018 70.677.161.135 191.054.368.418
37 Kalbe Farma Tbk 1.396.995.383.891 1.476.374.539.700 1.495.229.621.118
38 Kimia Farma 46.290.404.314 47.219.225.790 66.324.487.354
(Persero) Tbk
39 Mustika Ratu Tbk 13.578.704.515 22.259.299.739 34.849.661.063
40 Unilever Indonesia 3.179.124.000.000 3.636.654.000.000 4.467.741.000.000
Tbk
41 Sat Nusapersada 26.628.621.441 42.604.080.969 8.511.223.397
Tbk
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

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 Lampiran iv

2. Invested Capital

Perhitungan Invested Capital tahun 2006-2008

(dalam Rp)

NO NAMA INVESTED CAPITAL

PERUSAHAAN 2006 2007 2008
1 Aqua Golden 721.848.894.518 811.887.701.167 919.005.554.679
Mississipi Tbk
2 Indofood Sukses 9.950.587.000.000 16.818.218.000.000 23.332.103.000.000
Makmur Tbk
3 Mayora Indah Tbk 1.349.704.222.709 1.337.402.257.636 2.153.198.142.066
4 Bentoel 1.294.486.523.559
International 3.016.423.366.127 3,223,613,257,498
Investama Tbk
5 Gudang Garam Tbk 13.848.029.000.000 15.004.634.000.000 16.402.427.000.000

6 HM Sampoerna 2.001.711.000.000 9.467.857.000.000 8.491.612.000.000

Tbk
7 Hanson 244.418.451.614 102.734.226.235 (160.123.025.769)
International Tbk
8 Pan Brothers Tbk 150.608.908.858 247.943.844.929 252.260.715.837
9 Panasia Filament 466.245.903.875 423.827.711.476 358.426.934.853
Inti Tbk
10 Indorama 391.003.097 416.578.218 403.056.222
Synthetics Tbk
11 Primarindo Asia 4.140.649.516 13.533.996.686 (1.011.622.682)
Tbk
12 Sepatu Bata Tbk 207.609.618.000 222.413.003.000 291.471.812.000
13 Barito Pasific Tbk 1.239.943.890.401 14.532.933 14.918.723
14 Daya Sakti Unggul 85.034.531.514 39.843.560.247 (65.743.479.950)
Corporation Tbk
15 Indah Kiat Pulp and 4.848.365.161 5.020.817.089 5.016.323.982
Paper Tbk
16 Budi Acid Jaya Tbk 705.024.000.000 1.073.194.000.000 1.018.033.000.000
17 Colorpak Indonesia 68.499.921.212 77.768.209.292 95.862.948.361
Tbk
18 Aneka Kemasindo 36.260.762.697 (12.231.320.211) 27.066.830.254
Utama Tbk
19 Asiaplast Industries 180.623.471.313 180.762.727.442 156.996.429.774
Tbk
20 Semen Gresik 6.036.336.492 7.069.353.156 8.510.864.235
(Persero) Tbk

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21 Holcim Indonesia Tbk 6.210.028.000.000 6.109.867.000.000 6.531.524.000.000

22 Alumindo Light Metal 479.026.498.113 474.862.117.464 486.255.461.612
Industry Tbk
23 Citra Tubindo Tbk 90.478.146 101.056.621 104.958.726
24 Intan Wijaya 153.239.408.178 157.171.233.846 161.256.655.415
Internasional Tbk
25 Ekadarma 60.277.333.081 63.760.171.889 93.733.279.882
Internasional Tbk
26 Kedaung Indah Can 94.449.766.156 73.166.279.469 77.658.796.039
Tbk
27 Arwana Citramulia 319.549.462.131 442.249.018.367 472.813.734363
Tbk
28 Keramika Indonesia (1.503.307.93.992) (1.574.691.905.528) 579.85.597.789
Assosiasi Tbk
29 Sumi Indo Kabel Tbk 379.856.134.714 447.970.242.957 514.425.332.388
30 Voksel Electric Tbk 273.609.156.215 325.764.217.644 333.372.757.272
31 Astra Graphia Tbk 432.225.426.988 325.562.211.617 369.692.674.644
32 Multipolar Tbk 4.981.676.000.000 7.404.749.000.000 6.188.363.000.000
33 Metrodata Electronik 325.795.015.193 375.135.348.691 548.586.223.348
Tbk
34 Astra Otoparts Tbk 2.292.646 2.695.401 3.108.131
35 Goodyear Indonesia 310.971.813 336.589.826 722.899.914
Tbk
36 Indospring Tbk 248.680.026.865 266.784.510.108 282.863.243.181
37 Kalbe Farma Tbk 3.965.859.593.488 4.383.583.392.926 4.453.460.880.943
38 Kimia Farma 908.553.642.826 953.175.126.735 995.814.851.450
(Persero) Tbk
39 Mustika Ratu Tbk 268.540.212.234 285.291.657.803 311.282.360.234
40 Unilever Indonesia 2.568.549.000.000 2.905.278.000.000 3.413.625.000.000
Tbk
41 Sat Nusapersada Tbk 232.590.535.564 588.962.240.178 563.944.695.906
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

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3. Capital Charges
Perhitungan Capital Charges tahun 2006-2008
(dalam Rp)
NO NAMA CAPITAL CHARGES
PERUSAHAAN 2006 2007 2008
1 Aqua Golden 44.028.287.262 59.723.259.479 75.063.611.306
Mississipi Tbk
2 Indofood Sukses (94.586.000.000) 152.575.000.000 (93.772.000.000)
Makmur Tbk
3 Mayora Indah Tbk 105.707.540.539 121.403.696.255 198.578.692.436
4 Bentoel International 55.975.684.153 113.630.683.854 42.484.054.820
Investama Tbk
5 Gudang Garam Tbk 116.319.000.000 626.560.000.000 794.388.000.000
6 HM Sampoerna Tbk 943.354.000.000 2.214.274.000.000 2.063.419.000.000
7 Hanson International (47.342.185.434) (34.363.050.179) 18.318.504.219
Tbk
8 Pan Brothers Tbk 1.386.165.516 (1.708.099.032) 2.538.144.466
9 Panasia Filament Inti (33.342.071.795) (50.695.600.985) 83.808.477
Tbk
10 Indorama Synthetics 11.906.015 14.524.291 49.648.696
Tbk
11 Karwell Indonesia Tbk (2.966.223) 836.360 (566.337)
12 Sepatu Bata Tbk 12.744.754.000 22.688.623.000 113.663.411.000
13 Barito Pasific Tbk 5.127.403.853 38.269 (2.941.357)
14 Daya Sakti Unggul 244.833.505 (11.375.487) 27.099.263
Corporation Tbk
15 Indah Kiat Pulp and 36.325.128 61.203.524 (16.806.468)
Paper Tbk
16 Budi Acid Jaya Tbk 15.649 33.357 19.765
17 Colorpak Indonesia 2.531.651.019 2.482.005.613 4.602.109.126
Tbk
18 Aneka Kemasindo 232.571.090 5.988.161 766.256.240
Utama Tbk
19 Asiaplast Industries 44.577.611 (2.807.178.928) (1.965.430.755)
Tbk
20 Semen Gresik 997.445.751 1.467.184.868 2.010.716.746
(Persero) Tbk
21 Holcim Indonesia Tbk 18.001.000.000 34.682.000.000 427,620.000.000
22 Alumindo Light Metal 15.875.547.145 (4.279.945703) (19.714.391.379)
Industry Tbk
23 Citra Tubindo Tbk 109.050 130.065 (509.032)
24 Intan Wijaya (4.198.904.866) 3.055.089.863 3.200.098.862
Internasional Tbk

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25 Ekadarma 4.654.359.608 3.116.851.184 1.487.247.625

Internasional Tbk
26 Kedaung Indah Can (12.531.215.630) 14.350.503.256 2.753.758.664
Tbk
27 Arwana Citramulia 18.848.972.520 18.749.383.624 23.041.094.593
Tbk
28 Keramika Indonesia (184.830604.202) 556.060.304 7.365.113.208
Assosiasi Tbk
29 Sumi Indo Kabel 28.836.398.931 59.747.749.961 1.060.422.919924
Tbk
30 Voksel Electric Tbk 18.959.076.865 18.193.237.669 (5.755.680.774)
31 Astra Graphia Tbk 25.679.350.630 27.311.254.786 17.527.889.323
32 Multipolar Tbk 30.078.000.000 (225.170.000.000) (278.783.000.000)
33 Metrodata 10.705.933.330 10.367.930.604 20.099.157.545
Electronik Tbk
34 Astra Otoparts Tbk (35.793.000.000) 325.793.000.000 420.106.000.000
35 Goodyear Indonesia 17.019.053 24.397.416 (2.379.685)
Tbk
36 Indospring Tbk 1.465.203.693 (7.475.239.220) 3.120540.239
37 Kalbe Farma Tbk 499.484.619.497 539.574.166.316 499.078.723.145
38 Kimia Farma 26.537.667.693 631.542.829 31.457351.208
(Persero) Tbk
39 Mustika Ratu Tbk 7.599.351.369 9.303.638.399 18.349.772.091
40 Unilever Indonesia 955.902.000.000 1.070.209.000.000 1.263.292.000.000
Tbk
41 Sat Nusapersada 1.977.978.625 3.188.220.327 (2.829.222.371)
Tbk
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

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4. WACC
Perhitungan WACC tahun 2006-2008
(dalam %)

NO NAMA PERUSAHAAN WACC (%)

2006 2007 2008
1 Aqua Golden Mississipi Tbk 6.10 7.36 8.17
2 Indofood Sukses Makmur Tbk (0.95) 0.91 (0.40)
3 Mayora Indah Tbk 7.83 9.08 9.22
4 Bentoel International Investama Tbk 4.32 3.77 1.32
5 Gudang Garam Tbk 0.84 4.18 4.84
6 HM Sampoerna Tbk 47.13 23.39 24.30
7 Hanson International Tbk (19.37) (33.45) (11.44)
8 Pan Brothers Tbk 0.92 (0.69) 1.01
9 Panasia Filament Inti Tbk (7.15) (11.96) 0.02
10 Indorama Synthetics Tbk 3.04 3.49 12.32
11 Primarindo Asia Infrastruktur Tbk (0.07) 0.01 0.06
12 Sepatu Bata Tbk 6.14 10.20 39.00
13 Barito Pasific Tbk 0.41 0.26 (19.72)
14 Daya Sakti Unggul Corporation Tbk 0.29 (0.03) (0.04)
15 Indah Kiat Pulp and Paper Tbk 0.75 1.22 (0.34)
16 Budi Acid Jaya Tbk 2.22 3.11
1.94
17 Colorpak Indonesia Tbk 3.70 3.19 4.80
18 Aneka Kemasindo Utama Tbk 0.64 (0.05) 2.83
19 Asiaplast Industries Tbk 0.02 (1.55) (1.25)
20 Semen Gresik (Persero) Tbk 16.52 20.75 23.63
21 Holcim Indonesia Tbk 0.29 0.57 6.55
22 Alumindo Light Metal Industry Tbk 3.31 (0.90) (4.05)
23 Citra Tubindo Tbk 0.12 0.13 (0.48)
24 Intan Wijaya Internasional Tbk (2.74) 1.94 2.42
25 Ekadarma Internasional Tbk 7.72 4.89 1.59
26 Kedaung Indah Can Tbk (13.27) 19.61 3.55
27 Arwana Citramulia Tbk 5.90 4.24 4.87
28 Keramika Indonesia Assosiasi Tbk 12.29 (0.04) 1.27
29 Sumi Indo Kabel Tbk 7.59 13.34 20.61
30 Voksel Electric Tbk 6.93 5.58 (1.73)
31 Astra Graphia Tbk 5.94 8.39 4.74
32 Multipolar Tbk 0.60 (3.04) (4.50)
33 Metrodata Electronik Tbk 3.29 2.76 3.66
34 Astra Otoparts Tbk (1.56) 12.09 13.52
35 Goodyear Indonesia Tbk 5.47 7.25 (0.33)

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 Lampiran vi (lanjutan)

36 Indospring Tbk 0.59 (2.80) 1.10

37 Kalbe Farma Tbk 12.59 12.31 11.21
38 Kimia Farma (Persero) Tbk 2.92 0.07 3.16
39 Mustika Ratu Tbk 2.83 3.26
5.89
40 Unilever Indonesia Tbk 37.22 36.84 37.01
41 Sat Nusapersada Tbk 0.85 0.54 (0.50)
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

Universitas Sumatera Utara

 Lampiran vii

Perhitungan EVA tahun 2006-2008

(dalam Rp)
NO NAMA EVA
PERUSAHAAN 2006 2007 2008
1 Aqua Golden 11.111.460.001 (3.405.750.690) 54.759.356.837
Mississipi Tbk
2 Indofood Sukses 2.538.376.000.000 3.420.707.000.000 5.236.80.000.000
Makmur Tbk
3 Mayora Indah Tbk 21.362.386.432 54.099.421.113 74.360.730.817
4 Bentoel International 111.567.146.549 267.855.755.907 372.695.185.061
Investama Tbk
5 Gudang Garam Tbk 2.667.948.000.000 2.661.009.000.000 3.147.099.000.000
6 HM Sampoerna Tbk 4.230.141.000.000 1.650.773.000.000 2.261.645.000.000
7 Hanson International -28.786.881.358 (34.107.641.716) (20.899.121.761)
Tbk
8 Pan Brothers Tbk 27.757.378.003 56.068.555.228 56.837.810.271
9 Panasia Filament Inti -48.483.677.910 (33.076.404.637) (84.009.263.240)
Tbk
10 Indorama Synthetics -6.162.306 (2.672.262) (48.830.882)
Tbk
11 Primarindo 6.673.503.081 6.370.501.799 703.265.867
Infrastruktur Tbk
12 Sepatu Bata Tbk 11.308.535.000 19.644.269.000 (128.751.787.000)
13 Barito Pasific Tbk -188.687.733.505 (76.635.000.000) 455.180.000.000
14 Daya Sakti Unggul -9.666.408.526 (18.619.970.573) (45.567.560.446)
Corporation Tbk
15 Indah Kiat Pulp and 229.927.610 183.092.182 170.325.591
Paper Tbk
16 Budi Acid Jaya Tbk 82.136.000.000 139.195.000.000 126.776.000.000
17 Colorpak Indonesia 16.042.490.231 20.300.650.602 38.226.434.931
Tbk
18 Aneka Kemasindo -67.057.505 1.401.208.049 (12.656.973.334)
Utama Tbk
19 Asiaplast Industries 4.361.296.562 11.403.925.361 28.051.114.352
Tbk
20 Semen Gresik 235.590.465 162.988.355 330.900.506
(Persero) Tbk
21 Holcim Indonesia 53.300.000.000 502.873.000.000 579.831.000.000
Tbk
22 Alumindo Light 122.211.938.663 89.130.754.945 135.604.005.492
Metal Industry Tbk
23 Citra Tubindo Tbk 18.995.701 17.596.764 20.372.234

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 Lampiran vii (lanjutan)

27 Arwana Citramulia 29.632.076.874 58.096.209.598 67.683.711.129

Tbk
28 Keramika Indonesia 186.242.525.290 29.420.446.850 27.880.477.917
Assosiasi Tbk
29 Sumi Indo Kabel Tbk 34.650.469.069 22.291.476.636 (955988.952.781)
30 Voksel Electric Tbk 38.340.198.006 100.357.674.320 151.617.249.753
31 Astra Graphia Tbk 432.253.175 90.943.666.278 109.815.269.208
32 Multipolar Tbk 449.196.000.000 2.951.688.000.000 3.452.238.000.000
33 Metrodata Electronik 29.887.579.712 70.216.120.653 184.372.989.790
Tbk
34 Astra Otoparts Tbk 293.854 149.838 193.650
35 Goodyear Indonesia 29.708.083 52.973.039 51.577.231
Tbk
36 Indospring Tbk -7.824.748.711 78.152.400.355 187.933.828.179
37 Kalbe Farma Tbk 897.510.764.394 936.800.373.384 996.150.897.973
38 Kimia Farma 19.752.736.621 46.587.682.961 34.867.136.146
(Persero) Tbk
39 Mustika Ratu Tbk 5.979.353.146 12.955.661.340 16.499.888.972
40 Unilever Indonesia 2.223.222.000.000 2.566.445.000.000 3.204.449.000.000
Tbk
41 Sat Nusapersada Tbk 24.650.642.816 39.415.860.642 11.340.445.768
Sumber : Indonesian Capital Market Directory dan www.idx.co.id

Universitas Sumatera Utara

 Lampiran viii

Output SPSS

Tahun 2006

Correlations

Return On Economic Value

Asset Added
Return On Asset Pearson Correlation 1 .055

.732
Sig. (2-tailed)

41 41
N
Economic Value Pearson Correlation .055 1
Added
.732
Sig. (2-tailed)

41 41
N
**. Correlation is significant at the 0.01 level (2-tailed).

Tahun 2007

Correlations

Return On Economic Value

Asset Added

Universitas Sumatera Utara

 Return On Asset Pearson Correlation 1 -.036

.823
Sig. (2-tailed)

41 41
N
Economic Value Pearson Correlation -.036 1
Added
.823
Sig. (2-tailed)

41 41
N

Lampiran viii (lanjutan)

Tahun 2008

Correlations

Return On Economic Value

Asset Added
Return On Asset Pearson Correlation 1 .413**

.587
Sig. (2-tailed)

41 41
N
Economic Value Pearson Correlation .413** 1
Added
.587
Sig. (2-tailed)

4 4
N
**. Correlation is significant at the 0.01 level (2-tailed).

Universitas Sumatera Utara