Balance Sheet : Asset

Keterangan 2003 2002

Kas Rp 85,632 Rp 7,282
Piutang Rp 878,000 Rp 632,160
Inventaris Rp 1,716,480 Rp 1,287,360
Total Current Asset Rp 2,680,112 Rp 1,926,802
Gross Fixed Asset Rp 1,197,160 Rp 1,202,950
Penyusutan Rp 380,120 Rp 263,160
Net Fixed Asset Rp 817,040 Rp 939,790
Total Asset Rp 3,497,152 Rp 2,866,592

Balance Sheet : Utang dan Modal

Keterangan 2003 2002

Utang Rp 436,800 Rp 524,160
Wesel Bayar Rp 300,000 Rp 636,808
Akrual Rp 408,000 Rp 489,600
Total Current Liability Rp 1,144,800 Rp 1,650,568
Utang Jangka Panjang Rp 400,000 Rp 723,432
Nilai Saham Rp 1,721,176 Rp 460,000
Laba Ditahan Rp 231,176 Rp 32,592
Total Equity Rp 1,952,352 Rp 492,592
Total Liability and Equity Rp 3,497,152 Rp 2,866,592

Income Statement

Keterangan 2003 2002

Penjualan Rp 7,035,600 Rp 6,034,000
HPP Rp 5,875,992 Rp 5,528,000
Pengeluaran Lainnya Rp 550,000 Rp 519,988
EBITDA Rp 609,608 -Rp 13,988
Penyusutan dan Pengurangan Rp 116,960 Rp 116,960
EBIT Rp 492,648 -Rp 130,948
Pengeluaran Bunga Rp 70,008 Rp 136,012
EBT Rp 422,640 -Rp 266,960
Pajak Rp 169,056 -Rp 106,784
Laba Bersih Rp 253,584 -Rp 160,176

Other Data

Keterangan 2003 2002

No. Of Shares Rp 250,000 Rp 100,000
Laba persaham Rp 1.014 -Rp 1.602
Dividen persaham Rp 0.22 Rp 0.11
Harga Saham Rp 12.17 Rp 2.25
Jumlah yang harus dibayar Rp 40,000 Rp 40,000
 Laba Ditahan

Keterangan Jumlah
Laba Ditahan Rp 32,592
Laba Bersih Rp 253,584
Dividen dibayarkan Rp 55,000
Total Laba Ditahan Rp 231,176
 CASH FLOW

Keterangan 2003 2002

Inflow
Laba Bersih Rp 253,584 -Rp 160,176
Penyusutan Rp 116,960 Rp 116,960
Penurunan Investasi Asset Tetap Rp 1,197,160 Rp 1,202,950
Peningkatan Nilai Saham Rp 1,721,176 Rp 460,000
Total Inflow

Outflow
Aktivitas Operasi
Peningkatan Piutang Rp 878,000 Rp 632,160
Peningkatan Inventaris Rp 1,716,480 Rp 1,287,360
Total Aktivitas Operasi
Aktivitas Finansial
Penurunan Utang Rp 436,800 Rp 524,160
Penurunan Akrual Rp 408,000 Rp 489,600
Penurunan Wesel Bayar Rp 300,000 Rp 636,808
Penurunan Utang Jangka Panjang Rp 400,000 Rp 723,432
Pembayaran Dividen Rp 55,000
Total Aktivitas Finansial
Total Outflow
Total Kas
Kas Diawal Tahun
Kas Diakhir Tahun
 Cash Flow

Rp 253,584
Rp 116,960
Rp 5,790
Rp 1,261,176
Rp 1,637,510

Rp 245,840
Rp 429,120
Rp 674,960

Rp 87,360
Rp 81,600
Rp 336,808
Rp 323,432
Rp 55,000
Rp 884,200
Rp 1,559,160
Rp 78,350
Rp 7,282
Rp 85,632
 Current Ratio

Keterangan 2002 2003

Current Asset Rp 1,926,802 Rp 2,680,112
Current Liabilities Rp 1,650,568 Rp 1,144,800
Current Ratio 1.17 2.34

Inventory Turnover

Keterangan 2002 2003

Sales Rp 6,034,000 Rp 7,035,600
Inventories Rp 1,287,360 Rp 1,716,480
Inventories Turnover 4.69 4.10

DSO

Keterangan 2002 2003

Piutang Rp 632,160 Rp 632,160
Sales per Day Rp 16,532 Rp 19,276
DSO 38.24 32.80

Fix Asset Turnover

Keterangan 2002 2003

Penjualan Rp 6,034,000 Rp 7,035,600
Total Asset Tetap Rp 939,790 Rp 817,040
FAT 6.42 8.61

Total Asset Turnover

Keterangan 2002 2003

Penjualan Rp 6,034,000 Rp 7,035,600
Total Asset Rp 2,866,592 Rp 3,497,152
TAT 2.10 2.01

Debt Ratio

Keterangan 2002 2003

Total Debt Rp 2,374,000 Rp 1,544,800
Total Asset Rp 2,866,592 Rp 3,497,152
DR 82.82% 44.17%
 TIE

Keterangan 2002 2003

EBIT -Rp 130,948 Rp 492,648
Interest Expense Rp 136,012 Rp 70,008
TIE -0.96 7.04

EBITDA Coverage

Keterangan 2002 2003

EBITDA -Rp 13,988.00 Rp 609,608.00
Lease Payment Rp 40,000 Rp 40,000
Interest Expense Rp 136,012 Rp 70,008
Principal Payment Rp -
EBITDA Coverage 0.15 5.90

Profit Margin

Keterangan 2002 2003

Laba Bersih -Rp 160,176 Rp 253,584
Penjualan Rp 6,034,000 Rp 7,035,600
Profit Margin -2.65% 3.60%

BEP

Keterangan 2002 2003

EBIT -Rp 130,948 Rp 492,648
Total Asset Rp 2,866,592 Rp 3,497,152
BEP -4.57% 14.09%

ROA

Keterangan 2002 2003

Laba Bersih -Rp 160,176 Rp 253,584
Total Asset Rp 2,866,592 Rp 3,497,152
ROA -5.59% 7.25%

ROE

Keterangan 2002 2003

Laba Bersih -Rp 160,176 Rp 253,584
Total Common Equity Rp 492,592 Rp 1,952,352
ROE -32.52% 12.99%
 Price per Earning

Keterangan 2002 2003

Price Rp 2.25 Rp 12.17
Earning per Share -Rp 1.60 Rp 1.01
P/E -1.40 12.00

Price per Cash Flow

Keterangan 2002 2003

Price Rp 2.25 Rp 12.17
Cash flow per share -Rp 0.43 Rp 1.48
P/CF -5.21 8.21

Market per Book Ratio

Keterangan 2002 2003

Market Price per Share Rp 2.25 Rp 12.17
Book Value per Share Rp 4.93 Rp 7.81
M/B 0.46 1.56

ROE Dupont System

Keterangan 2002 2003

Profit Margin -2.65% 3.60%
Total Asset Turnover 2.10 2.01
Equity Multiplier 5.82 1.79
ROE -32.52% 12.99%
 Perbandingan Ratio 2002 dan 2003

Keterangan 2002 2003

Current Ratio 1.17 2.34
Inventory Turnover 4.69 4.10
DSO 38.24 45.60
Fix Asset Turnover 6.42 8.61
Total Asset Turnover 2.10 2.01
Debt Ratio 82.82% 44.20%
TIE -0.96 7.00
EBITDA Coverage 0.15 5.90
Profit Margin -2.65% 3.60%
BEP -4.57% 14.10%
ROA -5.59% 7.30%
ROE -32.52% 13.00%
Price per Earning -1.40 12.00
Price per Cash Flow -5.21 8.21
Market per Book Ratio 0.46 1.56
ROE Dupont System -32.52% 13.00%