YEAR

Description 2010 2009 2008

Revenue 10,226,790 9,087,348 7,877,367
Operating Income 1,790,904 1,565,875 1,142,713
Net Earnings 1,286,331 929,004 706,823
Debt 1,260,362 1,691,513 1,358,989
Equity 5,373,784 4,310,438 3,622,399
Cash Flow From Operation 1,253,908 1,363,583 807,701
Capital Expenditure 474,495 834,163 441,068
Diluted EPS 137 97 72
Deviden per Share 24.92 14.94 12.15
Price 3,250 1,300 400
41% 35% 3%

DER 23.45% 39.24% 37.52%

P/E 23.72 13.40 5.56
Free Cash Flows 779,413 529,420 366,633
DPOR 18.19% 15.40% 16.88%
ROE 29.84% 25.65% 20.87%
NPM 12.58% 10.22% 8.97%

KLBF
Harga 3400
EPS (est.) 157.55
P/E (est.) 21.58
Avarage P/E 15.69
Dividend (est.) 21.80
DPOR 13.84%
Long Term EPS Growth 21.00%
Deposito 6.75%
Risk Premium 7.88%
Required Retrun 14.63%
EPS Growth (proj.) 15.00%
P/E (proj.) 17

step 1

Proyeksi 15 %
Akhir Tahun 2012 181.18
Akhir Tahun 2013 208.36
Akhir Tahun 2014 239.61
Akhir Tahun 2015 275.56
Akhir Tahun 2016 316.89

step 2
Projected Stock price 5387
Total Eps (5 tahun) 1222

step 3

Total Deviden ( 5tahun ) 169

step 4

Total Stock Price 5556

step 5
Price Calculation
10.3%
Akhir Tahun 2015 4847 5037.32612368513
Akhir Tahun 2014 4228 4566.93211576168
Akhir Tahun 2013 3689 4140.46429352827
Akhir Tahun 2012 3218 3753.82075569199
Akhir Tahun 2011 2807 3403.28264341976

Harga Tertinggi yang

Annual Retrun yang Diinginkan Pantas untuk
(thn 2011)
Dibayarkan( thn 2011)
14.63% 2807
10.30% 3400
R
2007 2006
7,004,910 6,071,551
1,129,355 1,071,272
705,695 676,581
1,121,189 1,080,171
3,386,861 2,994,817
362,899 705,673
1,021,113 829,808
70 67
12.45 0.63
1,260 1,190
4% 21%

33.10% 36.07%
18.00 17.76
(658,214) (124,135)
17.79% 0.94%
23.56%
10.07% 11.14%

27841.4634146341
22635.3361094587
18402.7122841127
14961.5547025307
12163.8656118136