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Objective
Kjcaswcoiuhawvi alijcias
II.
Analysis
Ckaswhcoiashco iajhcv
Trend Analysis
lkvcijweiufoasifpoacinoasi
Krakata
u Steel
Gunawa
n
Dianjay
a Steel
Jaya
Pari
Steel
7%
-3%
-9%
1%
-5%
-18%
79%
91%
0%
-1%
1%
2%
13%
6%
32%
-98%
-97%
-24%
-99%
No Data
5%
Return on Assets
42%
101%
-25%
Return on Equity
16%
No Data
-28%
Debt to Equity
-33%
No Data
-15%
Debt to Capital
-18%
No Data
-11%
Aspect
Gross Profit
margin
Operating Profit
Margin
Reven
ue
Marke
t
Retur
n
Debt
Informat
ion
Higer is
better
Higer is
better
Higer is
better
Lower is
better
Lower is
better
Higer is
better
Higer is
better
Lower is
better
Lower is
better
Ckuwhivchsoijvpowskv
Uhviuewyhviuww vi8weu
BUMN Financial Scoring Framework
kchwkhfilwqjfiwajmfi
Financial
Indicators
Return on
Equity (ROE)
Krakatau Steel
Ratio
11,43%
Score
16,0
Gunawan
Dianjaya Steel
Ratio
Score
26,55%
20,0
Score
14,0
Return on
Investment
(ROI)
Cash Ratio
Current
Ratio
Collection
Period
Inventory
Turnover
Total Asset
Turnover
Total
Equity/Total
Asset
Total Score
Rating
Classificatio
n
11,83%
9,0
19,98%
15,0
8,35%
6,0
60,51%
177,29
%
30,91
5,0
5,0
0,0
5,0
5,0
12,17%
276,83
%
79,87
2,0
5,0
5,0
0,89%
169,03
%
19,19
160,92
3,0
118,86
4,0
99,58
4,0
84,49%
3,5
5,0
8,5
104,01
%
72,98%
4,0
52,85%
159,15
%
60,09%
55,0
A
Healthy
8,0
62,0
AA
Healthy
Profit
Margin
Ratio
Total Asset
Turnover
Equity
Multiplier
Net
Profit
Revenu
e
Revenu
e
Asset
Asset
Equity
ROE
III.
Krakatau
Steel
Gunawan
Dianjaya
Steel
Jaya Pari
Steel
1.062.683
171.428
28.446
1.710.132
427.793
1.710.132
427.793
1.074.570
411.282
1.074.570
411.282
645.713
26,55%
300.134
9,48%
14.856.15
6
14.856.15
6
17.584.05
9
17.584.05
9
9.293.915
11,43%
7,5
47,0
A
Healthy
DuPlont Formula
vkawejhvcoasjcosaj
Component
4,5
Exibit 1
Trend Analysis (CAGR) Krakatau Steel, 2008-2010
Aspects
Reven
ue
2008
Gross Profit
margin
Operating
Profit Margin
Net Profit
Margin
COGS to
Revenue
Operating
Expenses to
Revenue
Market
Earnings per
share
Book value
per share
Gross Profit
Rp
2.716.064.000.0
00
Operating Profit
Rp
1.360.388.000.0
00
Net Income
Rp
459.571.000.00
0
COGS
Rp
17.915.367.000.
000
Operating
Expenses
Rp
1.355.676.000.0
00
Net Income
Rp
459.571.000.00
0
Equity
Rp
5.439.761.000.0
00
2010
Revenue
Rp
20.631.431.000.
000
Revenue
Rp
20.631.431.000.
000
Revenue
Rp
20.631.431.000.
000
Revenue
Rp
20.631.431.000.
000
Revenue
13,16%
6,59%
2,23%
86,84%
6,57%
Rp
20.631.431.000.
000
Share
Outstanding
2000000
Rp
229.78
6
Share
Outstanding
2000000
Rp
2.719.8
81
Rate
Gross Profit
Rp
2.234.780.000.0
00
Operating Profit
Rp
992.929.000.00
0
Net Income
Rp
1.062.683.000.0
00
COGS
Rp
12.621.376.000.
000
Operating
Expenses
Rp
1.241.851.000.0
00
Net Income
Revenue
Rp
14.856.156.000.00
0
Revenue
Rp
14.856.156.000.00
0
Revenue
Rp
14.856.156.000.00
0
Revenue
Rp
14.856.156.000.00
0
Revenue
Rp
1.062.683.000.0
00
Equity
Rp
15.775.000.000
Rp
9.293.915.000.0
00
Rp
15.775.000.000
Rp
14.856.156.000.00
0
Revenue
Share Outstanding
15,04
%
6,90
%
6,68%
0,68
%
7,15%
79,20
%
84,96
%
1,09
%
8,36%
12,79
%
Rp
67
98,29
%
Rp
589
98,53
%
Return
Return on
Assets
Return on
Equity
Debt
Debt to
Equity
Debt to
Capital
Net Income
Asset
Rp
459.571.000.00
0
Net Income
Rp
15.374.427.000.
000
Equity
Rp
459.571.000.00
0
Debt
Rp
8.276.527.000.0
00
Debt
Rp
8.276.527.000.0
00
Rp
5.439.761.000.0
00
Equity
Rp
5.439.761.000.0
00
Capital
Rp
13.716.288.000.
000
2,99%
8,45%
152,15
%
60,34%
Net Income
Asset
6,04%
42,19
%
11,43
%
16,34
%
Equity
Rp
9.293.915.000.000
69,31
%
32,51
%
Capital
Rp
15.735.390.000.00
0
40,94
%
17,63
Rp
1.062.683.000.0
00
Net Income
Rp
17.584.059.000.00
0
Equity
Rp
1.062.683.000.0
00
Debt
Rp
6.441.475.000.0
00
Debt
Rp
6.441.475.000.0
00
Rp
9.293.915.000.000
2008
Gross Profit
margin
Gross Profit
Rp
560.000.000.000
Operating
Profit
Margin
Operating Profit
Rp
417.000.000.000
Net Profit
Margin
Net Income
Rp
83.000.000.000
2010
Revenue
Rp
3.021.000.000.0
00
Revenue
Rp
3.021.000.000.0
00
Revenue
Rp
3.021.000.000.0
Rate
18,54
%
Gross Profit
Rp
296.880.791.118
Revenue
Rp
1.710.131.747.278
17,36
%
3,23%
13,80
%
Operating Profit
Rp
214.649.422.699
Revenue
Rp
1.710.131.747.278
12,55
%
4,64%
2,75%
Net Income
Rp
171.427.614.845
Revenue
Rp
1.710.131.747.278
10,02
%
91,01
%
00
COGS to
Revenue
Operating
Expenses to
Revenue
Market
Earnings
per share
Book value
per share
COGS
Rp
2.461.000.000.0
00
Operating
Expenses
Rp
143.000.000.000
Net Income
Rp
83.000.000.000
Equity
No Data
Return
Debt
Return on
Assets
Net Income
Rp
83.000.000.000
Return on
Equity
Net Income
Rp
83.000.000.000
Debt
No Data
Debt to
Equity
Debt to
Capital
Debt
No Data
Revenue
Rp
3.021.000.000.0
00
Revenue
Rp
3.021.000.000.0
00
Share
Outstanding
3376000
81,46
%
4,73%
Rp
24.585
Share
Outstanding
3376000
No
Data
Asset
Rp
2.092.800.000.0
00
Equity
No Data
3,97%
No
Data
Equity
No Data
No
Data
Capital
No Data
No
Data
COGS
Rp
1.413.250.956.1
60
Operating
Expenses
Rp
90.756.876.018
Net Income
Revenue
Rp
1.710.131.747.278
Revenue
82,64
%
0,72%
5,31%
5,88%
Rp
21
97,08
%
Rp
79
No
Data
15,95
%
No
Data
26,55
%
No
Data
61,77
%
No
Data
38,19
%
No
Data
Rp
1.710.131.747.278
Revenue
Rp
171.427.614.845
Equity
Rp
8.200.000.000
Share Outstanding
Rp
645.713.287.080
Net Income
Rp
171.427.614.845
Rp
8.200.000.000
Asset
Rp
1.074.569.612.752
Net Income
Rp
171.427.614.845
Debt
Rp
398.879.525.740
Debt
Rp
398.879.525.740
Equity
Rp
645.713.287.080
Equity
Rp
645.713.287.080
Capital
Rp
1.044.592.812.820
Net Profit
Margin
COGS to
Revenue
Operating
Expenses
to Revenue
Earnings
per share
Market
Book value
per share
Return on
Assets
Return
Return on
Equity
Debt
Debt to
2008
Gross Profit
Rp
115.384.235.396
Operating Profit
Rp
98.351.215.200
Net Income
Rp
49.157.545.353
COGS
Rp
617.319.084.761
Operating
Expenses
Rp
17.033.020.196
Net Income
Rp
49.157.545.353
Equity
Rp
269.771.302.444
Net Income
Rp
49.157.545.353
Net Income
Rp
49.157.545.353
Debt
Revenue
Rp
732.703.320.157
Revenue
Rp
732.703.320.157
Revenue
Rp
732.703.320.157
Revenue
Rp
732.703.320.157
2010
15,75%
13,42%
6,71%
84,25%
Revenue
Rp
732.703.320.157
Share
Outstanding
750000000
Share Outstanding
750000000
Asset
Rp
399.343.736.262
Equity
Rp
269.771.302.444
Equity
2,32%
Rp
66
Rp
360
12,31%
18,22%
42,49%
Gross Profit
Rp
55.733.384.365
Operating Profit
Rp
38.419.485.450
Net Income
Rp
28.445.580.508
COGS
Rp
372.059.150.959
Operating
Expenses
Rp
17.313.898.915
Net Income
Rp
28.445.580.508
Equity
Rp
300.134.260.861
Net Income
Rp
28.445.580.508
Net Income
Rp
28.445.580.508
Debt
Revenue
Rp
427.792.535.324
Revenue
Rp
427.792.535.324
Revenue
Rp
427.792.535.324
Revenue
Rp
427.792.535.324
Rate
13,03
%
9,04%
8,98%
18,20
%
6,65%
0,45%
86,97
%
1,60%
4,05%
31,95
%
Rp
38
23,93
%
Rp
400
5,48%
Revenue
Rp
427.792.535.324
Revenue
Rp
750.000.000
Share Outstanding
Rp
750.000.000
Asset
Rp
411.281.598.196
Equity
Rp
300.134.260.861
Equity
6,92%
9,48%
30,89
25,04
%
27,88
%
-
Equity
Debt to
Capital
Exibit 2
Exibit 3
Rp
114.622.438.973
Debt
Rp
114.622.438.973
Rp
269.771.302.444
Capital
Rp
384.393.741.417
29,82%
Rp
92.718.624.802
Debt
Rp
92.718.624.802
Rp
300.134.260.861
Capital
Rp
392.852.885.663
%
23,60
%
14,73
%
11,03
%