2016 2017

Sales 1,500,000,000.00 1,650,000,000.00

COGS 900,000,000.00 999,000,000.00
Gross Profit 600,000,000.00 651,000,000.00
Over Head dr GP 40% 240,000,000.00 260,400,000.00
Depr 200,000,000.00 200,000,000.00
EBIT 160,000,000.00 190,600,000.00
Interest Exp - -
EBT 160,000,000.00 190,600,000.00
Tax - 28,590,000.00
NAT 160,000,000.00 162,010,000.00
PV of NAT 774,079,040.28 160,000,000.00 144,651,785.71
Retention for Growth 5% - 8,100,500.00

FCF (Rp) (1,000,000,000.00) 360,000,000.00 353,909,500.00

Payback Periode (640,000,000.00) (286,090,500.00)
Discount Factor 12% 1.00 0.89
1,550,844,958 360,000,000 315,990,625
NPV 550,844,957.59
IRR 26%
ROE 77.4%
Rate Yen 80 88.00 95.00
Rate USD 8500 9,800.00 10,388.00

FCF - Yen -12500000 4,090,909.09 3,725,363.16

FCF - USD -117647.058823529 36,734.69 34,069.07

 2018 2019 2020
1,815,000,000.00 1,996,500,000.00 2,196,150,000.00
1,108,890,000.00 1,230,867,900.00 1,366,263,369.00
706,110,000.00 765,632,100.00 829,886,631.00
282,444,000.00 306,252,840.00 331,954,652.40
200,000,000.00 200,000,000.00 200,000,000.00
223,666,000.00 259,379,260.00 297,931,978.60
- - -
223,666,000.00 259,379,260.00 297,931,978.60
33,549,900.00 38,906,889.00 44,689,796.79
190,116,100.00 220,472,371.00 253,242,181.81
151,559,390.94 156,927,878.87 160,939,984.75
9,505,805.00 11,023,618.55 12,662,109.09

380,610,295.00 409,448,752.45 440,580,072.72

94,519,795.00 503,968,547.45 944,548,620.17
0.80 0.71 0.64
303,420,197 291,437,534 279,996,601
 103.00 111.00 120.00
11,011.00 11,672.00 12,372.00

3,695,245.58 3,688,727.50 3,671,500.61

34,566.37 35,079.57 35,611.06