kinerja Keuangan dan Saham PT Kalbe farma Tbk

1 Fundamental Keuangan ( dalam Miliar Rp)

Keterangan 2006 2007 2008 2009
Sales 6071.6 7,004.9 7,877.4 9,087.3
Assets 4624.6 5,138.2 5,703.8 6,482.4
COGS 2972.9 3,453.3 4,073.7 4,575.4
Net Income 676.6 705.7 706.8 929.0
Persentase kenaikan ( penurunan )
keterangan 2007 2008 2009
Sales 15.37% 12.46% 15.36%
Assets 11.11% 11.01% 13.65%
COGS 16.16% 17.97% 12.32%
Net Income 4.30% 0.16% 31.44%

2 Kinerja Modal ;
Return On Invested Capital (ROIC)
( dalam miliar Rp )
2007 2008 2009
Net Operating 1,129.35 1,142.71 1,565.87
Income Tax 347.02 352.52 421.41
NOPAT 782.33 790.19 1,144.46
Interest Bearing Liability ;
Pinjaman jangka pendek 43.72 145.89 339.13
hutang jangka panjang yang jatuh
tempo dalam waktu satu tahun :
hutang sewa pembiayaan 2.44 0.57 0.50
hutang obligasi, bersih - 258.55 -
Kewajiban Tidak lancar ;
hutang sewa pembiayaan setelah
dikurangi bagian jatuh tempo dalam
waktu satu tahun 0.49 1.04
hutang obligasi, bersih 267.20 - -
Interest Bearing Liability ; 313.36 405.50 340.67
Ekuitas Bersih 3,386.86 3,622.40 4,310.44
IBL + Ekuitas Bersih 3,700.22 4,027.90 4,651.11
ROIC 21.14% 19.62% 24.61%

Cost Of Debt ( COD ) / Biaya Hutang

(dalam Miliar Rp )
2007 2008 2009
Pinjaman Bank dan Lain-lain 18.58 12.25 30.38
Hutang obligasi 35.67 36.96 17.55
Hutang sewa pembiayaan 0.37 0.12 0.14
Total Beban Bunga 54.62 49.33 48.07
Interest Bearing Liability ; 313.36 405.5 340.67
Biaya Hutang (COD) 17.43% 12.17% 14.11%
 Cost Of Equity ( COE ) / Biaya Ekuitas
2007 2008 2009
Rf (SBI) 8.00% 9.25% 6.50%
Rm 57.85% -27.08% 57.18%
(Rm - Rf ) 49.85% -36.33% 50.68%
β 0.06 0.94 1.42
COE 10.99% -24.90% 78.47%

Cost of Capital (COC)/ Biaya Modal

( dalam Miliar Rp)
2007 2008 2009
Jml Interest Bearing Liability 313.36 405.5 340.67
Jumlah Ekuitas 3386.86 3622.4 4310.44
IBL + Ekuitas 3700.22 4027.9 4651.11
% IBL 8.47% 10.07% 7.32%
% ekuitas 91.53% 89.93% 92.68%
Pajak 28% 28% 28%
COD 17.43% 12.17% 14.11%
COE 10.99% -24.90% 78.47%
WACC 11.12% -21.51% 73.46%

3 Rasio Keuangan Fundamental

(dalam Miliar Rp )
2007 2008 2009
ROE ;
Net Income 705.69 706.82 929
Ekuitas Bersih 3386.86 3622.4 4310.44
Return on Equity (ROE) 20.84% 19.51% 21.55%

DAR ;
Interest Bearing Liability 313.36 405.5 340.67
Total Assets 5,138.2 5,703.8 6,482.4
Debt to Assets Ratio (DAR) 6.10% 7.11% 5.26%