BAB V HASIL PENELITIAN DAN PEMBAHASAN
5.2 Pembahasan
5.2.3 Sintesis Penelitian
Penelitian ini dilakukan untuk mengetahui dan menganalisis pengaruh struktur modal, profitabilitas terhadap nilai intrinsik perusahaan dengan kebijakan dividen sebagai variabel intervening pada perusahaan sektor properti di Bursa
Efek Indonesia. Proses mengestimasi nilai intrinsik atau nilai sebenarnya dari suatu perusahaan disebut juga dengan penilaian bisnis.
Penelitian ini menemukan adanya pengaruh struktur modal perusahaan terhadap kebijakan dividen sesuai dengan teori agency yang menyatakan bahwa dalam perusahaan manajer perusahaan akan cenderung mementingkan kepentingan pribadi yang mana dapat merugikan pemegang saham sehingga untuk meminimalkan konflik antara pemilik dengan manajer perusahaan maka dilakukan pengawasan melalui keputusan penggunaan utang pada struktur modalnya. Profitabilitas yang tidak berpengaruh signifikan terhadap kebijakan dividen menunjukkan bahwa perusahaan yang memperoleh laba yang besar tidak selalu meningkatkan pembagian dividen yang besar pula. Penelitian Aditya (2015) menemukan bahwa perusahaan akan memilih mengalokasikan labanya untuk ekspansi atau investasi perusahaan terlebih dahulu baru menetapkan pembagian dividen.
Terhadap nilai intrinsik perusahaan, struktur modal dan profitabilitas mampu secara langsung mempengaruhi nilai intrinsik perusahaan tanpa harus terlebih dahulu melalui kebijakan dividen. Adanya pengaruh struktur modal terhadap nilai intrinsik perusahaan menunjukkan bahwa perusahaan memiliki struktur modal yang optimal, sedangkan adanya pengaruh profitabilitas terhadap nilai intrinsik perusahaan menunjukkan kinerja perusahaan dalam mengelola asetnya sudah efektif melalui perolehan laba yang positif, sementara kebijakan dividen tidak berpengaruh terhadap nilai intrinsik perusahaan mengindikasikan bahwa tidak adanya pembagian dividen atau pembagian dividen dalam jumlah
kecil tidak langsung menurunkan nilai perusahaan oleh karena laba yang ditahan diinvestasikan kembali guna meningkatkan pertumbuhan dan nilai perusahaan.
Dengan demikian dapat disimpulkan bahwa pengaruh langsung struktur modal dan profitabilitas terhadap nilai intrinisk lebih besar daripada pengaruh tidak langsung melalui kebijakan dividen. Hal ini juga mengindikasikan bahwa perusahaan sektor properti di Indonesia lebih memberi perhatian pada sumber pendanaan dan kondisi laba perusahaan dibandingkan pembagian keuntungan kepada para pemegang sahamnya dalam hal meningkatkan nilai intrinsik perusahaan.
BAB VI
KESIMPULAN DAN SARAN
6.1 Kesimpulan
Berdasarkan hasil penelitian yang telah diuraikan maka dapat dikemukakan kesimpulan sebagai berikut :
1. Struktur modal berpengaruh positif dan signifikan terhadap kebijakan dividen.
2. Profitabilitas berpengaruh positif dan tidak signifikan terhadap kebijakan dividen.
3. Struktur modal berpengaruh positif dan signifikan terhadap nilai intrinsik perusahaan.
4. Profitabilitas berpengaruh positif dan signifikan terhadap nilai intrinsik perusahaan.
5. Kebijakan dividen berpengaruh positif dan tidak signifikan terhadap nilai intrinsik perusahaan.
6. Pengaruh tidak langsung struktur modal terhadap nilai intrinsik perusahaan melalui kebijakan dividen tidak signifikan.
7. Pengaruh tidak langsung profitabilitas terhadap nilai intrinsik perusahaan melalui kebijakan dividen tidak signifikan.
6.2 Saran
Adapun saran-saran yang dapat diberikan berdasarkan hasil penelitian ini adalah sebagai berikut :
1. Bagi Penilai
Para penilai bisnis disarankan dapat mendalami kemampuannya dalam menilai perusahaan dengan menggunakan pendekatan pendapatan dan metode discounted cash flow (DCF) dalam memberikan opini nilai karena secara teoritis pendekatan dan metode ini dianggap memiliki kelebihan dalam menghasilkan nilai yang lebih akurat dimana telah memperhitungkan nilai waktu dan uang (time value of money) pada proses penilaiannya.
2. Bagi Perusahaan
Bagi perusahaan di sektor properti diharapkan dapat memberi perhatian pada teori trade off tentang penggunaan struktur modal yang optimal agar dapat diterapkan di perusahaan sehingga menciptakan peningkatan nilai perusahaan dengan cara mencari biaya modal yang minimum.
3. Bagi Investor
Bagi investor dalam mengambil keputusan berinvestasi pada perusahaan go public disarankan tidak hanya memperhatikan dari sisi tingginya harga pasar saham suatu perusahaan di bursa tetapi juga memperhatikan nilai intrinsik dari perusahaan tersebut, hal ini karena harga pasar saham terbentuk oleh adanya faktor supply dan demand atas saham yang diperdagangkan sedangkan nilai intrinsik perusahaan lebih mencerminkan prospek kinerja perusahaan yang mana didasari pada ekspektasi aliran arus kas yang akan diterima di masa datang dengan mempertimbangkan unsur risiko yang tercermin pada biaya modalnya.
4. Bagi Akademisi
Pada penelitian selanjutnya disarankan dapat mencoba menilai ekuitas perusahaan menggunakan free cash flow to equity sehingga dapat diperoleh nilai intrinsik ekuitas perusahaan dan nilai intrinsik saham perusahaan yang dapat dibandingkan dengan harga pasar saham agar diketahui apakah harga saham perusahaan tergolong overvalued atau undervalued. Penelitian selanjutnya juga diharapkan dapat menambahkan variabel lain seperti set kesempatan investasi, ukuran perusahaan dan aset tidak berwujud perusahaan serta mencoba melakukan proyeksi nilai intrinsik perusahaan pada perusahaan-perusahan di sektor lain yang terdaftar di Bursa Efek Indonesia.
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APLN Agung Podomoro Land Tbk 1,688,264 1,427,564 1,275,609 1,260,160 141,705 176,107 131,153 94,369 1,829,968 1,603,672 1,406,762 1,354,529 1,372,476 1,202,754 1,055,071 ASRI Alam Sutera Realty Tbk 1,627,715 1,907,766 1,533,221 1,254,013 87,902 108,947 68,652 39,916 1,715,617 2,016,713 1,601,873 1,293,929 1,286,713 1,512,535 1,201,405
BAPA Bekasi Asri Pemula Tbk 7,400 17,389 9,632 4,806 167 759 1,980 1,174 7,566 18,148 11,612 5,980 5,675 13,611 8,709
BEST Bekasi Fajar Industrial Estate Tbk 365,083 432,999 882,944 526,974 963 1,395 501 142 366,046 434,394 883,445 527,116 274,534 325,795 662,584
BIPP Bhuwanatala Indah Permai Tbk 42,767 34,703 20,816 -58 0 0 65 0 42,767 34,703 20,882 -58 32,075 26,027 15,661
BKSL Sentul City Tbk -20,582 36,127 287,804 231,335 39,023 71,206 86,132 27,139 18,441 107,334 373,937 258,474 13,831 80,500 280,452
BSDE Bumi Serpong Damai Tbk 2,900,585 2,664,251 2,909,627 1,412,443 262,239 202,567 168,796 118,513 3,162,824 2,866,818 3,078,423 1,530,956 2,372,118 2,150,113 2,308,817
COWL Cowell Development Tbk 202,724 194,221 100,815 80,960 1,002 2,707 1,259 2,366 203,725 196,928 102,075 83,325 152,794 147,696 76,556
CTRA Ciputra Development Tbk 2,353,018 2,204,116 1,552,838 954,500 173,734 168,620 189,769 115,700 2,526,752 2,372,736 1,742,607 1,070,200 1,895,064 1,779,552 1,306,955
CTRP Ciputra Property Tbk 754,089 667,354 516,239 334,384 27,046 26,465 18,490 23,501 781,135 693,819 534,729 357,885 585,851 520,364 401,047
CTRS Ciputra Surya Tbk 645,466 574,332 402,301 321,372 61,046 41,759 50,433 29,400 706,511 616,090 452,734 350,771 529,884 462,068 339,551
DART Duta Anggada Realty Tbk 292,512 561,161 324,726 276,518 1,246 1,900 1,785 2,967 293,758 563,061 326,512 279,485 220,319 422,296 244,884
DILD Intiland Development Tbk 570,572 595,401 400,355 303,664 47,989 31,542 31,521 15,699 618,561 626,942 431,877 319,362 463,921 470,207 323,907
DMAS Puradelta Lestari Tbk 1,298,774 1,003,323 922,572 370,236 3,112 3,147 2,744 2,837 1,301,886 1,006,470 925,316 373,073 976,415 754,852 693,987
DUTI Duta Pertiwi Tbk 677,070 577,711 619,363 601,508 119,755 109,294 102,870 89,729 796,825 687,005 722,233 691,237 597,619 515,254 541,675
ELTY Bakrieland Development Tbk 34,005 181,914 1,168,760 783,465 16,127 16,556 36,531 57,654 50,133 198,470 1,205,291 841,119 37,599 148,853 903,968
EMDE Megapolitan Developments Tbk 106,684 70,839 57,778 14,850 9,049 9,883 2,403 2,149 115,733 80,722 60,182 16,999 86,800 60,541 45,136
FMII Fortune Mate Indonesia Tbk 185,177 14,316 14,342 6,671 141 218 180 219 185,317 14,535 14,521 6,891 138,988 10,901 10,891
GAMA Gading Development Tbk 6,665 51,023 23,169 9,391 3,614 1,280 511 986 10,279 52,303 23,680 10,377 7,710 39,228 17,760
GMTD Gowa Makassar Tourism Development Tbk 115,271 114,349 96,423 66,227 9,365 17,659 18,232 31,833 124,636 132,008 114,655 98,060 93,477 99,006 85,991
GPRA Perdana Gapuraprima Tbk 89,284 107,737 164,316 100,379 8,338 5,750 8,096 5,460 97,622 113,487 172,412 105,839 73,217 85,115 129,309
JRPT Jaya Real Property Tbk 932,419 791,641 567,152 427,000 57 41 40,216 28,702 932,476 791,682 607,367 455,702 699,357 593,761 455,526
KIJA Kawasan Industri Jababeka Tbk 909,737 892,531 855,303 625,041 30,749 23,237 16,546 14,196 940,486 915,767 871,850 639,237 705,365 686,826 653,887
KPIG MNC Land Tbk 221,027 207,252 103,804 107,998 36,457 41,478 30,145 24,754 257,484 248,730 133,949 132,753 193,113 186,547 100,462
LAMI Lamicitra Nusantara Tbk 150,580 39,947 35,279 36,973 61 131 86 98 150,640 40,078 35,365 37,071 112,980 30,059 26,524
LCGP Eureka Prima Jakarta Tbk 3,978 26,500 -884 -251 0 0 0 0 3,978 26,500 -884 -251 2,984 19,875 -663
LPCK Lippo Cikarang Tbk 907,593 835,733 633,890 436,839 68,170 40,981 43,113 29,580 975,763 876,714 677,003 466,419 731,822 657,535 507,752
LPKR Lippo Karawaci Tbk 1,520,902 2,905,793 1,512,412 1,477,008 293,514 291,407 200,566 303,562 1,814,416 3,197,200 1,712,977 1,780,570 1,360,812 2,397,900 1,284,733
MDLN Modernland Realty Tbk 1,257,501 1,200,696 1,011,706 295,160 42,519 29,814 11,981 11,469 1,300,020 1,230,510 1,023,687 306,629 975,015 922,883 767,765
MKPI Metropolitan Kentjana Tbk 945,629 526,603 463,512 437,112 21,138 6,375 17,722 16,331 966,768 532,979 481,234 453,443 725,076 399,734 360,926
MTLA Metropolitan Land Tbk 418,833 432,719 287,965 231,420 47,330 39,190 37,646 25,120 466,163 471,909 325,611 256,540 349,622 353,932 244,208
NIRO Nirvana Development Tbk 15,272 5,297 81,959 30,457 6,148 7,410 3,326 906 21,420 12,707 85,285 31,363 16,065 9,530 63,964
PLIN Plaza Indonesia Realty Tbk 549,077 503,221 416,834 447,321 0 0 0 0 549,077 503,221 416,834 447,321 411,808 377,416 312,625
PPRO PP Properti Tbk 385,500 138,309 9,566 0 0 0 0 0 385,500 138,309 9,566 0 289,125 103,732 7,175
PWON Pakuwon Jati Tbk 2,264,563 1,920,118 1,511,897 1,062,324 37,612 26,582 20,576 38,154 2,302,175 1,946,699 1,532,473 1,100,478 1,726,631 1,460,025 1,149,355
RDTX Roda Vivatex Tbk 290,711 258,489 232,174 142,026 0 0 0 0 290,711 258,489 232,174 142,026 218,033 193,866 174,130
RODA Pikko Land Development Tbk 520,608 184,862 193,576 33,425 2,806 5,282 6,917 1,314 523,414 190,145 200,493 34,739 392,561 142,609 150,370
SMDM Suryamas Dutamakmur Tbk 129,997 67,992 41,319 23,227 31,401 22,208 15,801 11,834 161,399 90,200 57,120 35,061 121,049 67,650 42,840
SMRA Summarecon Agung Tbk 1,767,630 2,077,272 1,341,560 984,155 201,641 176,113 130,587 96,506 1,969,270 2,253,385 1,472,147 1,080,661 1,476,953 1,690,039 1,104,110
Sub Sektor Konstruksi Bangunan
ACST Acset Indonusa Tbk 130,916 176,807 153,101 75,163 0 0 0 0 130,916 176,807 153,101 75,163 98,187 132,605 114,826
ADHI Adhi Karya (Persero) Tbk 579,151 642,027 918,751 792,396 0 0 0 0 579,151 642,027 918,751 792,396 434,363 481,520 689,063
DGIK Nusa Konstruksi Enjiniring Tbk 70,395 146,048 80,576 75,094 0 0 0 0 70,395 146,048 80,576 75,094 52,796 109,536 60,432
IDPR Indonesia Pondasi Raya Tbk 230,750 204,565 160,065 74,311 0 0 0 0 230,750 204,565 160,065 74,311 173,062 153,424 120,049
JKON Jaya Konstruksi Manggala Pratama Tbk 367,389 325,472 307,652 248,764 0 0 0 0 367,389 325,472 307,652 248,764 275,542 244,104 230,739
NRCA Nusa Raya Cipta Tbk 176,632 190,019 169,337 137,896 300 262 144 74 176,933 190,280 169,480 137,969 132,699 142,710 127,110
PTPP Pembangunan Perumahan (Persero) Tbk 1,597,164 1,268,432 1,073,385 710,825 0 0 0 0 1,597,164 1,268,432 1,073,385 710,825 1,197,873 951,324 805,039
SCBD Danayasa Arthatama Tbk 177,583 178,219 1,617,947 110,697 4,864 946 4,877 8,118 182,447 179,165 1,622,824 118,815 136,836 134,374 1,217,118
SSIA Surya Semesta Internusa Tbk 557,811 537,272 872,031 918,118 16,318 14,679 14,596 11,397 574,129 551,952 886,627 929,515 430,597 413,964 664,970
TOTL Total Bangun Persada Tbk 228,504 178,401 256,216 188,363 1,049 1,417 9,372 4,230 229,553 179,818 265,588 192,594 172,165 134,864 199,191
WIKA Wijaya Karya (Persero) Tbk 1,513,905 1,401,478 1,215,962 870,005 0 0 0 0 1,513,905 1,401,478 1,215,962 870,005 1,135,429 1,051,109 911,971
WSKT Waskita Karya (Persero) Tbk 1,414,993 885,811 672,187 540,115 1,220 1,058 1,098 858 1,416,214 886,869 673,285 540,973 1,062,160 665,151 504,964
Sub Sektor Properti dan Real Estate
APLN Agung Podomoro Land Tbk 3,616,464 3,169,106 2,756,005 1,853,092 141,705 176,107 131,153 589,063 589,208 1,034,066
ASRI Alam Sutera Realty Tbk 1,097,190 957,762 801,678 708,121 87,902 108,947 68,652 227,329 265,032 162,209
BAPA Bekasi Asri Pemula Tbk 299 622 1,044 694 167 759 1,980 -157 338 2,329
BEST Bekasi Fajar Industrial Estate Tbk 109,533 76,570 76,614 75,973 963 1,395 501 33,926 1,350 1,143
BIPP Bhuwanatala Indah Permai Tbk 181,471 155,529 165,065 4,744 0 0 65 25,942 -9,536 160,386
BKSL Sentul City Tbk 190,290 162,317 1,305,493 126,265 39,023 71,206 86,132 66,996 -1,071,969 1,265,360
BSDE Bumi Serpong Damai Tbk 803,253 607,141 437,868 415,371 262,239 202,567 168,796 458,351 371,840 191,294
COWL Cowell Development Tbk 398,436 373,064 355,153 341,870 1,002 2,707 1,259 26,373 20,618 14,543
CTRA Ciputra Development Tbk 2,961,999 2,351,741 1,779,149 1,240,096 173,734 168,620 189,769 783,992 741,212 728,822
CTRP Ciputra Property Tbk 1,880,604 1,401,512 1,139,385 645,981 27,046 26,465 18,490 506,137 288,592 511,895
CTRS Ciputra Surya Tbk 403,050 429,771 393,929 379,079 61,046 41,759 50,433 34,325 77,601 65,283
DART Duta Anggada Realty Tbk 27,450 23,553 13,158 15,636 1,246 1,900 1,785 5,144 12,295 -693
DILD Intiland Development Tbk 225,290 258,300 409,831 277,684 47,989 31,542 31,521 14,980 -119,990 163,668
DMAS Puradelta Lestari Tbk 183,362 133,651 52,410 34,807 3,112 3,147 2,744 52,824 84,388 20,346
DUTI Duta Pertiwi Tbk 309,347 265,105 164,009 135,681 119,755 109,294 102,870 163,997 210,390 131,198
ELTY Bakrieland Development Tbk 3,114,099 3,082,590 1,620,783 3,498,009 16,127 16,556 36,531 47,637 1,478,362 -1,840,695
EMDE Megapolitan Developments Tbk 31,474 32,824 32,898 32,033 9,049 9,883 2,403 7,699 9,809 3,269
FMII Fortune Mate Indonesia Tbk 75,172 76,582 77,832 37,320 141 218 180 -1,270 -1,031 40,691
GAMA Gading Development Tbk 52,122 52,021 47,307 39,817 3,614 1,280 511 3,716 5,994 8,000
GMTD Gowa Makassar Tourism Development Tbk 3,517 4,502 4,350 2,379 9,365 17,659 18,232 8,381 17,811 20,203
GPRA Perdana Gapuraprima Tbk 46,837 17,227 16,737 10,537 8,338 5,750 8,096 37,948 6,240 14,296
JRPT Jaya Real Property Tbk 87,986 42,367 35,551 32,382 57 41 40,216 45,676 6,857 43,385
KIJA Kawasan Industri Jababeka Tbk 2,192,451 2,228,186 2,168,401 2,138,350 30,749 23,237 16,546 -4,985 83,022 46,597
KPIG MNC Land Tbk 3,244,789 3,125,570 2,954,121 467,222 36,457 41,478 30,145 155,675 212,928 2,517,043
LAMI Lamicitra Nusantara Tbk 31,191 33,998 33,960 37,895 61 131 86 -2,746 168 -3,849
LCGP Eureka Prima Jakarta Tbk 593 610 288 1,296 0 0 0 -17 322 -1,008
LPCK Lippo Cikarang Tbk 80,994 54,301 52,565 48,305 68,170 40,981 43,113 94,863 42,718 47,373
LPKR Lippo Karawaci Tbk 2,731,533 3,208,763 2,810,892 2,222,377 293,514 291,407 200,566 -183,716 689,277 789,081
MDLN Modernland Realty Tbk 1,128,136 1,131,196 1,142,138 421,303 42,519 29,814 11,981 39,460 18,872 732,816
MKPI Metropolitan Kentjana Tbk 2,288,651 2,102,422 1,915,527 1,678,294 21,138 6,375 17,722 207,368 193,270 254,955
MTLA Metropolitan Land Tbk 363,938 315,779 226,562 173,474 47,330 39,190 37,646 95,489 128,408 90,735
NIRO Nirvana Development Tbk 173,845 178,031 5,423 3,017 6,148 7,410 3,326 1,962 180,017 5,732
PLIN Plaza Indonesia Realty Tbk 823,768 854,495 853,242 909,058 0 0 0 -30,727 1,253 -55,816
PPRO PP Properti Tbk 1,674,282 217,302 207,020 0 0 0 0 1,456,980 10,282 207,020
PWON Pakuwon Jati Tbk 1,457,275 964,375 673,096 844,548 37,612 26,582 20,576 530,511 317,861 -150,876
RDTX Roda Vivatex Tbk 1,318,805 1,299,035 1,311,694 929,490 0 0 0 19,770 -12,658 382,203
RODA Pikko Land Development Tbk 13,089 6,900 6,559 6,620 2,806 5,282 6,917 8,996 5,623 6,856
SMDM Suryamas Dutamakmur Tbk 329,664 337,391 260,745 211,369 31,401 22,208 15,801 23,674 98,854 65,177
SMRA Summarecon Agung Tbk 420,472 368,094 351,832 282,418 201,641 176,113 130,587 254,019 192,374 200,001
Sub Sektor Konstruksi Bangunan
ACST Acset Indonusa Tbk 310,061 242,007 220,840 134,582 0 0 0 68,054 21,167 86,258
ADHI Adhi Karya (Persero) Tbk 1,099,427 496,096 271,257 187,437 0 0 0 603,331 224,839 83,820
DGIK Nusa Konstruksi Enjiniring Tbk 165,187 112,744 118,986 96,563 0 0 0 52,443 -6,242 22,422
IDPR Indonesia Pondasi Raya Tbk 467,445 349,780 316,264 139,510 0 0 0 117,665 33,516 176,754
JKON Jaya Konstruksi Manggala Pratama Tbk 673,015 630,022 399,848 349,838 0 0 0 42,992 230,174 50,010
NRCA Nusa Raya Cipta Tbk 118,992 138,862 118,620 74,285 300 262 144 -19,570 20,503 44,479
Sub Sektor Properti dan Real Estate
APLN Agung Podomoro Land Tbk 11,796,869 9,161,558 5,569,908 4,501,959 8,173,374 5,524,642 4,385,352 3,434,574 3,623,496 3,636,916 1,184,556 1,067,385 -13,420 2,452,359 117,171 ASRI Alam Sutera Realty Tbk 2,060,529 2,307,337 1,909,939 2,264,431 3,675,228 2,803,110 3,718,655 2,931,536 -1,614,698 -495,773 -1,808,716 -667,105 -1,118,925 1,312,943 -1,141,610
BAPA Bekasi Asri Pemula Tbk 126,712 125,769 134,104 124,589 34,786 38,161 51,458 50,659 91,926 87,608 82,647 73,930 4,318 4,962 8,716
BEST Bekasi Fajar Industrial Estate Tbk 1,130,398 930,413 654,594 353,509 148,301 319,506 323,008 270,785 982,097 610,907 331,586 82,725 371,190 279,321 248,861
BIPP Bhuwanatala Indah Permai Tbk 57,961 35,983 9,344 93,857 53,561 45,453 35,895 16,603 4,400 -9,470 -26,550 77,254 13,871 17,080 -103,805
BKSL Sentul City Tbk 3,623,260 3,482,510 6,169,191 2,006,589 1,989,061 1,538,843 853,760 299,402 1,634,199 1,943,667 5,315,431 1,707,187 -309,468 -3,371,764 3,608,245 BSDE Bumi Serpong Damai Tbk 10,680,320 8,347,590 7,500,041 4,479,296 4,090,945 3,910,111 3,106,117 2,817,560 6,589,375 4,437,480 4,393,924 1,661,736 2,151,895 43,556 2,732,188
COWL Cowell Development Tbk 534,033 214,875 184,874 114,865 348,920 438,243 251,225 213,804 185,114 -223,368 -66,351 -98,939 408,482 -157,017 32,588
CTRA Ciputra Development Tbk 9,510,358 8,205,935 6,189,297 4,316,365 6,638,367 6,971,965 6,499,742 4,369,562 2,871,991 1,233,970 -310,445 -53,197 1,638,021 1,544,415 -257,248
CTRP Ciputra Property Tbk 1,424,872 1,665,651 837,488 864,546 1,296,293 1,245,070 915,050 925,272 128,578 420,582 -77,562 -60,726 -292,004 498,144 -16,836
CTRS Ciputra Surya Tbk 2,733,677 2,263,737 2,058,364 1,335,550 2,580,729 2,666,270 2,826,340 1,724,959 152,948 -402,534 -767,976 -389,409 555,482 365,442 -378,566
DART Duta Anggada Realty Tbk 428,056 807,369 948,974 752,599 272,105 350,143 342,749 319,167 155,951 457,226 606,225 433,432 -301,276 -148,999 172,793
DILD Intiland Development Tbk 2,521,031 1,916,355 809,221 438,350 1,570,835 1,294,299 1,387,698 670,537 950,196 622,056 -578,476 -232,186 328,140 1,200,532 -346,290 DMAS Puradelta Lestari Tbk 3,320,569 2,285,773 1,891,644 1,948,743 829,395 602,123 932,416 1,155,197 2,491,173 1,683,650 959,228 793,546 807,523 724,422 165,682
DUTI Duta Pertiwi Tbk 2,577,034 2,224,889 2,200,667 1,605,689 905,203 832,141 917,231 864,400 1,671,831 1,392,748 1,283,436 741,288 279,083 109,312 542,148
ELTY Bakrieland Development Tbk 4,864,512 4,777,242 2,636,080 3,558,269 2,332,424 1,906,382 1,336,255 1,917,012 2,532,089 2,870,860 1,299,824 1,641,257 -338,771 1,571,035 -341,432
EMDE Megapolitan Developments Tbk 431,275 486,626 453,457 376,806 279,267 309,182 228,471 136,945 152,008 177,444 224,986 239,861 -25,436 -47,542 -14,875
FMII Fortune Mate Indonesia Tbk 319,041 164,805 88,891 83,567 43,345 53,640 40,164 88,602 275,696 111,166 48,727 -5,035 164,530 62,439 53,762
GAMA Gading Development Tbk 415,777 454,569 403,789 214,301 51,768 102,779 81,723 34,002 364,009 351,790 322,066 180,300 12,219 29,724 141,766
GMTD Gowa Makassar Tourism Development Tbk 528,076 1,043,290 455,737 303,884 512,933 510,945 489,211 456,584 15,142 532,345 -33,474 -152,700 -517,203 565,819 119,226
GPRA Perdana Gapuraprima Tbk 1,287,097 1,045,339 1,066,098 1,045,796 258,142 326,040 228,613 336,952 1,028,955 719,299 837,485 708,844 309,656 -118,186 128,641 JRPT Jaya Real Property Tbk 2,699,128 2,099,867 1,566,911 1,198,622 2,974,359 3,047,241 3,063,899 2,367,282 -275,231 -947,374 -1,496,988 -1,168,660 672,143 549,614 -328,329 KIJA Kawasan Industri Jababeka Tbk 5,818,757 4,557,410 4,430,046 4,171,502 955,514 913,674 1,328,511 961,669 4,863,243 3,643,736 3,101,535 3,209,834 1,219,507 542,201 -108,299
KPIG MNC Land Tbk 1,932,925 1,231,321 787,432 213,369 365,916 339,757 305,273 109,167 1,567,009 891,564 482,159 104,202 675,445 409,406 377,956
LAMI Lamicitra Nusantara Tbk 144,721 168,463 193,833 213,223 63,985 212,146 211,469 240,487 80,736 -43,684 -17,636 -27,264 124,420 -26,048 9,629
LCGP Eureka Prima Jakarta Tbk 1,632,633 1,628,700 1,605,627 136,897 91,545 115,226 26,912 16,459 1,541,087 1,513,475 1,578,716 120,438 27,613 -65,241 1,458,277 LPCK Lippo Cikarang Tbk 3,776,902 3,442,853 2,850,179 2,061,085 1,140,996 1,610,709 1,953,763 1,507,602 2,635,907 1,832,143 896,416 553,482 803,763 935,727 342,934 LPKR Lippo Karawaci Tbk 31,737,571 26,459,333 22,158,076 16,142,093 3,846,449 5,622,909 4,824,844 3,463,136 27,891,122 20,836,424 17,333,232 12,678,958 7,054,698 3,503,193 4,654,274 MDLN Modernland Realty Tbk 2,626,960 1,478,908 1,524,984 874,419 2,151,419 1,393,009 1,384,954 1,139,343 475,541 85,900 140,030 -264,923 389,641 -54,130 404,953 MKPI Metropolitan Kentjana Tbk 257,333 206,443 104,880 78,985 2,231,494 1,643,778 484,790 422,775 -1,974,162 -1,437,334 -379,910 -343,790 -536,827 -1,057,424 -36,120
MTLA Metropolitan Land Tbk 1,795,733 1,545,515 1,085,262 932,021 357,365 316,380 369,966 217,173 1,438,368 1,229,135 715,296 714,847 209,233 513,839 449
NIRO Nirvana Development Tbk 762,067 723,590 772,072 837,922 200,944 538,972 294,219 188,224 561,124 184,618 477,853 649,697 376,506 -293,235 -171,844
PLIN Plaza Indonesia Realty Tbk 445,059 428,986 396,714 391,762 543,712 497,985 421,474 372,631 -98,653 -68,999 -24,760 19,131 -29,654 -44,239 -43,891
PPRO PP Properti Tbk 2,829,264 1,965,962 1,088,288 0 1,472,014 948,641 139,867 0 1,357,250 1,017,320 948,421 0 339,930 68,899 948,421
PWON Pakuwon Jati Tbk 3,337,398 2,697,957 1,584,110 2,395,170 3,887,254 3,398,956 2,475,908 1,755,117 -549,856 -700,999 -891,798 640,052 151,143 190,799 -1,531,850
RDTX Roda Vivatex Tbk 94,104 98,990 73,631 109,299 190,681 203,601 170,367 158,629 -96,577 -104,611 -96,736 -49,330 8,034 -7,875 -47,406
RODA Pikko Land Development Tbk 1,228,147 889,153 416,999 374,372 386,842 768,720 544,453 211,247 841,305 120,434 -127,454 163,125 720,872 247,888 -290,579
SMDM Suryamas Dutamakmur Tbk 856,754 1,060,199 851,752 821,260 425,988 535,617 545,494 318,271 430,766 524,582 306,258 502,989 -93,816 218,324 -196,731
SMRA Summarecon Agung Tbk 5,786,135 4,084,236 3,911,115 3,417,929 3,426,252 3,188,228 4,966,932 4,753,700 2,359,883 896,008 -1,055,817 -1,335,771 1,463,875 1,951,824 279,955
Sub Sektor Konstruksi Bangunan
ACST Acset Indonusa Tbk 1,530,239 1,165,190 1,012,704 542,815 815,334 776,878 629,895 433,745 714,905 388,312 382,809 109,070 326,593 5,503 273,739
ADHI Adhi Karya (Persero) Tbk 10,373,805 8,354,483 7,159,507 6,334,252 8,298,963 6,382,619 6,329,857 5,651,654 2,074,842 1,971,864 829,650 682,597 102,978 1,142,214 147,052 DGIK Nusa Konstruksi Enjiniring Tbk 1,239,070 1,164,988 1,000,612 878,121 597,936 570,311 566,441 469,067 641,134 594,677 434,171 409,054 46,457 160,506 25,117
IDPR Indonesia Pondasi Raya Tbk 625,326 468,815 177,896 172,149 227,447 303,075 155,387 121,107 397,878 165,741 22,509 51,042 232,138 143,232 -28,533
JKON Jaya Konstruksi Manggala Pratama Tbk 2,217,408 2,442,379 2,014,530 1,606,786 1,125,362 1,267,630 1,134,149 1,068,907 1,092,046 1,174,748 880,381 537,879 -82,702 294,367 342,502
NRCA Nusa Raya Cipta Tbk 1,163,829 1,052,182 984,473 616,488 813,410 789,829 793,347 512,251 350,419 262,353 191,126 104,237 88,066 71,227 86,889
PTPP Pembangunan Perumahan (Persero) Tbk 12,405,141 11,069,206 9,504,784 6,885,821 9,335,030 8,268,978 7,409,247 4,766,765 3,070,111 2,800,227 2,095,537 2,119,057 269,884 704,690 -23,520
SCBD Danayasa Arthatama Tbk 433,223 670,687 830,494 345,243 514,893 386,326 438,115 294,633 -81,670 284,360 392,379 50,610 -366,030 -108,018 341,768
SSIA Surya Semesta Internusa Tbk 1,976,139 1,728,235 2,026,131 1,184,686 1,526,634 1,479,176 1,734,770 1,666,893 449,505 249,059 291,361 -482,207 200,446 -42,302 773,568 TOTL Total Bangun Persada Tbk 1,503,125 1,444,119 1,387,702 1,086,337 1,761,084 1,557,920 1,203,806 1,233,745 -257,959 -113,801 183,896 -147,408 -144,158 -297,697 331,304 WIKA Wijaya Karya (Persero) Tbk 10,000,165 7,180,317 6,607,582 5,718,482 8,779,704 6,768,013 6,977,011 6,373,967 1,220,460 412,304 -369,429 -655,485 808,156 781,734 286,056 WSKT Waskita Karya (Persero) Tbk 12,563,663 8,429,697 6,661,719 5,605,932 10,176,611 5,811,024 4,552,332 4,119,973 2,387,052 2,618,673 2,109,387 1,485,959 -231,621 509,285 623,428
APLN Agung Podomoro Land Tbk 42% 253% 109% 131% 41.9% 6% 5% 5% 5% 5.3% 2% 13% 6% 7% -1% 6.01% 5.11% 4.60% 4.37% 4.15%
FMII Fortune Mate Indonesia Tbk 117% 563% 867% 198% 75.3% 24% 2% 3% 11% 10.9% 28% 13% 22% 21% -15% 6.10% 5.18% 4.66% 4.43% 4.21%
GAMA Gading Development Tbk 207% 91% 843% 311% 75.3% 1% 3% 1% 2% 6.5% 1% 3% 12% 5% -1% 4.12% 3.71% 3.34% 3.17% 3.01%
LCGP Eureka Prima Jakarta Tbk 925% -327% -219841% 6397% 75.3% 0.2% 1% -0.04% 0.4% 6.5% 2% -4% 88% 29% -23% 5.69% 4.83% 4.35% 4.13% 3.93%
LPCK Lippo Cikarang Tbk 64% 83% 52% 67% 63.7% 13% 15% 13% 14% 13.8% 9% 12% 7% 9% -3% 6.25% 5.32% 4.79% 4.55% 4.32%
IDPR Indonesia Pondasi Raya Tbk 202% 115% 123% 151% 100.8% 13% 17% 22% 16% 15.7% 25% 19% 27% 24% -18% 6.44% 5.48% 4.93% 4.68% 4.45%
JKON Jaya Konstruksi Manggala Pratama Tbk -14% 215% 170% 117% 100.8% 7% 6% 7% 7% 6.8% -1% 14% 11% 8% -2% 6.03% 5.12% 4.61% 4.38% 4.16%
NRCA Nusa Raya Cipta Tbk 52% 64% 103% 72% 51.6% 7% 8% 8% 7% 7.4% 3% 5% 8% 5% -1% 4.50% 4.05% 3.64% 3.46% 3.29%
PTPP Pembangunan Perumahan (Persero) Tbk 213% 134% 6% 131% 100.8% 6% 7% 6% 6% 6.4% 13% 9% 0.4% 7% -2% 5.47% 4.65% 4.19% 3.98% 3.78%
SCBD Danayasa Arthatama Tbk -282% -95% 26% -13% 100.8% 2% 2% 22% 9% 6.1% -7% -2% 6% -1% 5% 3.83% 3.45% 3.11% 2.95% 2.80%
Sub Sektor Properti dan Real Estate
APLN Agung Podomoro Land Tbk 15,486,506 9,072,669 24,559,175 63.1% 36.9% 8.5% 10.3% 5.3% 3.8% 9.1%
ASRI Alam Sutera Realty Tbk 12,107,460 6,602,410 18,709,870 64.7% 35.3% 6.5% 13.4% 4.2% 4.7% 8.9%
BAPA Bekasi Asri Pemula Tbk 74,812 100,931 175,744 42.6% 57.4% 9.9% 8.3% 4.2% 4.8% 9.0%
BEST Bekasi Fajar Industrial Estate Tbk 1,589,160 3,042,155 4,631,315 34.3% 65.7% 4.8% 12.5% 1.7% 8.2% 9.9%
BIPP Bhuwanatala Indah Permai Tbk 250,419 1,078,781 1,329,200 18.8% 81.2% 9.1% 10.2% 1.7% 8.3% 10.0%
BKSL Sentul City Tbk 4,596,177 6,549,719 11,145,897 41.2% 58.8% 9.2% 11.4% 3.8% 6.7% 10.5%
BSDE Bumi Serpong Damai Tbk 13,925,458 22,096,690 36,022,148 38.7% 61.3% 6.2% 13.6% 2.4% 8.4% 10.7%
COWL Cowell Development Tbk 2,366,447 1,174,139 3,540,586 66.8% 33.2% 4.9% 9.3% 3.3% 3.1% 6.3%
CTRA Ciputra Development Tbk 13,208,497 13,050,221 26,258,719 50.3% 49.7% 7.9% 13.3% 4.0% 6.6% 10.6%
CTRP Ciputra Property Tbk 4,587,912 5,236,169 9,824,081 46.7% 53.3% 7.3% 11.7% 3.4% 6.2% 9.6%
CTRS Ciputra Surya Tbk 3,328,403 3,652,533 6,980,936 47.7% 52.3% 8.4% 11.6% 4.0% 6.1% 10.1%
DART Duta Anggada Realty Tbk 2,311,459 3,428,404 5,739,863 40.3% 59.7% 8.8% 8.6% 3.5% 5.2% 8.7%
DILD Intiland Development Tbk 5,517,743 4,770,829 10,288,572 53.6% 46.4% 9.4% 10.1% 5.0% 4.7% 9.7%
DMAS Puradelta Lestari Tbk 846,523 7,160,598 8,007,121 10.6% 89.4% 0.0% 11.3% 0.0% 10.1% 10.1%
DUTI Duta Pertiwi Tbk 2,183,853 6,831,058 9,014,911 24.2% 75.8% 7.3% 8.4% 1.8% 6.4% 8.1%
ELTY Bakrieland Development Tbk 8,015,693 6,673,123 14,688,816 54.6% 45.4% 4.5% 8.1% 2.4% 3.7% 6.1%
EMDE Megapolitan Developments Tbk 536,107 659,934 1,196,041 44.8% 55.2% 9.9% 10.0% 4.4% 5.5% 10.0%
FMII Fortune Mate Indonesia Tbk 138,730 445,270 584,001 23.8% 76.2% 9.3% 8.5% 2.2% 6.5% 8.7%
GAMA Gading Development Tbk 240,002 1,096,560 1,336,563 18.0% 82.0% 10.3% 8.2% 1.9% 6.7% 8.5%
GMTD Gowa Makassar Tourism Development Tbk 719,733 554,257 1,273,990 56.5% 43.5% 9.0% 7.5% 5.1% 3.3% 8.3%
GPRA Perdana Gapuraprima Tbk 626,944 947,231 1,574,175 39.8% 60.2% 9.1% 8.4% 3.6% 5.0% 8.6%
JRPT Jaya Real Property Tbk 3,437,170 4,140,931 7,578,101 45.4% 54.6% 9.0% 9.0% 4.1% 4.9% 9.0%
KIJA Kawasan Industri Jababeka Tbk 4,762,940 4,977,754 9,740,695 48.9% 51.1% 7.1% 12.7% 3.5% 6.5% 10.0%
KPIG MNC Land Tbk 2,252,031 8,875,283 11,127,314 20.2% 79.8% 9.6% 8.5% 1.9% 6.8% 8.7%
LAMI Lamicitra Nusantara Tbk 88,980 551,539 640,519 13.9% 86.1% 9.0% 9.7% 1.2% 8.4% 9.6%
LCGP Eureka Prima Jakarta Tbk 93,392 1,619,007 1,712,399 5.5% 94.5% 0.0% 8.4% 0.0% 8.0% 8.0%
LPCK Lippo Cikarang Tbk 1,843,462 3,633,296 5,476,757 33.7% 66.3% 9.0% 12.5% 3.0% 8.3% 11.4%
LPKR Lippo Karawaci Tbk 22,409,794 18,916,765 41,326,558 54.2% 45.8% 5.5% 11.4% 3.0% 5.2% 8.2%
MDLN Modernland Realty Tbk 6,785,594 6,057,457 12,843,051 52.8% 47.2% 8.0% 11.2% 4.2% 5.3% 9.5%
MKPI Metropolitan Kentjana Tbk 2,880,176 2,829,195 5,709,371 50.4% 49.6% 7.9% 7.9% 4.0% 3.9% 7.9%
MTLA Metropolitan Land Tbk 1,407,526 2,213,217 3,620,743 38.9% 61.1% 7.9% 8.9% 3.1% 5.4% 8.5%
NIRO Nirvana Development Tbk 383,189 2,758,477 3,141,666 12.2% 87.8% 9.0% 11.3% 1.1% 9.9% 11.0%
PLIN Plaza Indonesia Realty Tbk 2,264,521 2,406,569 4,671,090 48.5% 51.5% 3.0% 9.1% 1.4% 4.7% 6.1%
PPRO PP Properti Tbk 2,801,370 2,517,587 5,318,957 52.7% 47.3% 8.4% 11.6% 4.4% 5.5% 9.9%
PWON Pakuwon Jati Tbk 9,323,066 9,455,056 18,778,122 49.6% 50.4% 6.6% 12.6% 3.3% 6.3% 9.6%
RDTX Roda Vivatex Tbk 282,594 1,589,565 1,872,159 15.1% 84.9% 0.0% 8.5% 0.0% 7.2% 7.2%
RODA Pikko Land Development Tbk 724,268 2,507,975 3,232,243 22.4% 77.6% 10.5% 8.4% 2.4% 6.5% 8.9%
SMDM Suryamas Dutamakmur Tbk 702,449 2,452,132 3,154,581 22.3% 77.7% 9.5% 9.8% 2.1% 7.6% 9.7%
SMRA Summarecon Agung Tbk 11,228,512 7,529,750 18,758,262 59.9% 40.1% 7.9% 13.3% 4.7% 5.4% 10.1%
Sub Sektor Konstruksi Bangunan
ACST Acset Indonusa Tbk 1,264,639 664,859 1,929,498 65.5% 34.5% 7.0% 10.3% 4.6% 3.6% 8.1%
ADHI Adhi Karya (Persero) Tbk 11,598,932 5,162,132 16,761,064 69.2% 30.8% 7.6% 12.5% 5.3% 3.8% 9.1%
DGIK Nusa Konstruksi Enjiniring Tbk 1,010,468 1,083,998 2,094,466 48.2% 51.8% 5.8% 11.7% 2.8% 6.0% 8.8%
IDPR Indonesia Pondasi Raya Tbk 388,794 992,332 1,381,126 28.2% 71.8% 9.0% 11.3% 2.5% 8.1% 10.6%
JKON Jaya Konstruksi Manggala Pratama Tbk 1,832,113 1,943,845 3,775,958 48.5% 51.5% 7.0% 8.3% 3.4% 4.3% 7.6%
NRCA Nusa Raya Cipta Tbk 908,458 1,086,633 1,995,091 45.5% 54.5% 0.0% 12.1% 0.0% 6.6% 6.6%
PTPP Pembangunan Perumahan (Persero) Tbk 14,009,740 5,119,072 19,128,812 73.2% 26.8% 7.6% 11.2% 5.6% 3.0% 8.6%
Danayasa Arthatama Tbk
Pendek Panjang Obligasi Total Pendek Panjang Obligasi Pendek Panjang Obligasi Kd (1-Tax) Kd*(1-T) Sub Sektor Properti dan Real Estate
APLN Agung Podomoro Land Tbk 1,241,088 1,395,748 3,679,020 6,315,857 19.65% 22.10% 58.25% 11.31% 12.38% 10.88% 11.29% 75.00% 8.5%
ASRI Alam Sutera Realty Tbk 77,240 1,072,260 6,218,261 7,367,761 1.05% 14.55% 84.40% 12.00% 12.00% 7.98% 8.60% 75.00% 6.5%
BAPA Bekasi Asri Pemula Tbk 26,940 10,667 - 37,607 71.64% 28.36% 0.00% 12.69% 14.50% 0.00% 13.20% 75.00% 9.9%
BEST Bekasi Fajar Industrial Estate Tbk 236,184 1,186,987 - 1,423,172 16.60% 83.40% 0.00% 6.43% 6.43% 0.00% 6.43% 75.00% 4.8%
BIPP Bhuwanatala Indah Permai Tbk 55,483 116,653 - 172,136 32.23% 67.77% 0.00% 9.71% 13.19% 0.00% 12.07% 75.00% 9.1%
BKSL Sentul City Tbk 1,238,864 399,861 - 1,638,725 75.60% 24.40% 0.00% 12.39% 12.04% 0.00% 12.30% 75.00% 9.2%
BSDE Bumi Serpong Damai Tbk 2,055,458 176,070 5,693,363 7,924,891 25.94% 2.22% 71.84% 9.86% 6.75% 7.66% 8.21% 75.00% 6.2%
COWLCowell Development Tbk 226,810 1,628,495 - 1,855,305 12.22% 87.78% 0.00% 6.50% 6.50% 0.00% 6.50% 75.00% 4.9%
CTRA Ciputra Development Tbk 1,375,188 3,410,696 491,400 5,277,283 26.06% 64.63% 9.31% 11.00% 10.03% 12.30% 10.49% 75.00% 7.9%
CTRP Ciputra Property Tbk 378,381 2,795,380 - 3,173,761 11.92% 88.08% 0.00% 10.66% 9.55% 0.00% 9.68% 75.00% 7.3%
CTRS Ciputra Surya Tbk 332,000 352,064 - 684,064 48.53% 51.47% 0.00% 10.87% 11.50% 0.00% 11.20% 75.00% 8.4%
DARTDuta Anggada Realty Tbk 468,678 1,496,246 - 1,964,924 23.85% 76.15% 0.00% 11.66% 11.75% 0.00% 11.73% 75.00% 8.8%
DILD Intiland Development Tbk 1,714,891 1,324,514 153,103 3,192,507 53.72% 41.49% 4.80% 12.64% 12.62% 10.00% 12.50% 75.00% 9.4%
DMASPuradelta Lestari Tbk - - - - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 75.00% 0.0%
DUTI Duta Pertiwi Tbk 293,600 74,896 - 368,496 79.68% 20.32% 0.00% 9.32% 11.27% 0.00% 9.71% 75.00% 7.3%
ELTY Bakrieland Development Tbk 4,092,258 778,345 - 4,870,603 84.02% 15.98% 0.00% 4.64% 12.74% 0.00% 5.94% 75.00% 4.5%
EMDEMegapolitan Developments Tbk 94,502 151,716 - 246,218 38.38% 61.62% 0.00% 13.21% 13.20% 0.00% 13.20% 75.00% 9.9%
FMII Fortune Mate Indonesia Tbk 62,457 30,430 - 92,887 67.24% 32.76% 0.00% 12.55% 12.28% 0.00% 12.46% 75.00% 9.3%
GAMAGading Development Tbk 165,713 21,675 - 187,388 88.43% 11.57% 0.00% 13.75% 13.75% 0.00% 13.75% 75.00% 10.3%
GMTDGowa Makassar Tourism Development Tbk 35,000 - - 35,000 100.00% 0.00% 0.00% 12.00% 0.00% 0.00% 12.00% 75.00% 9.0%
GPRAPerdana Gapuraprima Tbk 177,121 95,747 - 272,868 64.91% 35.09% 0.00% 12.03% 12.22% 0.00% 12.10% 75.00% 9.1%
JRPT Jaya Real Property Tbk - 27,563 - 27,563 0.00% 100.00% 0.00% 0.00% 12.00% 0.00% 12.00% 75.00% 9.0%
KIJA Kawasan Industri Jababeka Tbk 91,697 3,417,817 - 3,509,514 2.61% 97.39% 0.00% 6.50% 9.53% 0.00% 9.45% 75.00% 7.1%
KPIG MNC Land Tbk 267,290 1,438,055 - 1,705,345 15.67% 84.33% 0.00% 12.76% 12.84% 0.00% 12.83% 75.00% 9.6%
LAMI Lamicitra Nusantara Tbk 3,000 6,583 - 9,583 31.30% 68.70% 0.00% 10.50% 12.63% 0.00% 11.96% 75.00% 9.0%
LCGP Eureka Prima Jakarta Tbk - - - - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 75.00% 0.0%
LPCK Lippo Cikarang Tbk 30,000 - - 30,000 100.00% 0.00% 0.00% 12.00% 0.00% 0.00% 12.00% 75.00% 9.0%
LPKR Lippo Karawaci Tbk 1,010,435 471,750 10,883,059 12,365,243 8.17% 3.82% 88.01% 13.43% 11.52% 6.56% 7.31% 75.00% 5.5%
MDLNModernland Realty Tbk 999,273 97,679 3,445,896 4,542,848 22.00% 2.15% 75.85% 11.32% 12.87% 10.35% 10.61% 75.00% 8.0%
MKPI Metropolitan Kentjana Tbk 55,948 358,491 - 414,440 13.50% 86.50% 0.00% 10.50% 10.50% 0.00% 10.50% 75.00% 7.9%
MMLPMega Manunggal Property Tbk 125,374 462,070 - 587,444 21.34% 78.66% 0.00% 8.20% 8.20% 0.00% 8.20% 75.00% 6.1%
NIRO Nirvana Development Tbk 28,510 119,125 - 147,635 19.31% 80.69% 0.00% 12.00% 12.00% 0.00% 12.00% 75.00% 9.0%
PLIN Plaza Indonesia Realty Tbk 202,844 1,029,778 - 1,232,623 16.46% 83.54% 0.00% 3.94% 3.94% 0.00% 3.94% 75.00% 3.0%
PPRO PP Properti Tbk 156,954 192,476 - 349,430 44.92% 55.08% 0.00% 11.32% 11.15% 0.00% 11.23% 75.00% 8.4%
PWONPakuwon Jati Tbk 536,424 4,371,670 - 4,908,093 10.93% 89.07% 0.00% 11.00% 8.59% 0.00% 8.85% 75.00% 6.6%
RDTXRoda Vivatex Tbk - - - - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 75.00% 0.0%
RODAPikko Land Development Tbk 48,127 167,497 - 215,624 22.32% 77.68% 0.00% 14.00% 14.00% 0.00% 14.00% 75.00% 10.5%
SMDMSuryamas Dutamakmur Tbk 60,011 169,515 - 229,526 26.15% 73.85% 0.00% 12.65% 12.67% 0.00% 12.66% 75.00% 9.5%
SMRASummarecon Agung Tbk 983,434 2,738,013 2,476,373 6,197,820 15.87% 44.18% 39.96% 10.64% 9.81% 11.17% 10.49% 75.00% 7.9%
Sub Sektor Konstruksi Bangunan
ACST Acset Indonusa Tbk 384,053 56,209 - 440,262 87.23% 12.77% 0.00% 8.32% 16.02% 0.00% 9.30% 75.00% 7.0%
ADHI Adhi Karya (Persero) Tbk 1,115,499 754,737 1,248,299 3,118,535 35.77% 24.20% 40.03% 11.25% 10.41% 8.98% 10.14% 75.00% 7.6%
DGIK Nusa Konstruksi Enjiniring Tbk 313,821 40,387 - 354,208 88.60% 11.40% 0.00% 7.95% 5.51% 0.00% 7.67% 75.00% 5.8%
IDPR Indonesia Pondasi Raya Tbk 63,581 54,414 - 117,995 53.88% 46.12% 0.00% 12.00% 12.00% 0.00% 12.00% 75.00% 9.0%
JKON Jaya Konstruksi Manggala Pratama Tbk 435,578 140,835 - 576,413 75.57% 24.43% 0.00% 10.45% 5.73% 0.00% 9.30% 75.00% 7.0%
NRCANusa Raya Cipta Tbk - - - - 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 75.00% 0.0%
PTPP Pembangunan Perumahan (Persero) Tbk 1,779,384 940,281 998,636 3,718,300 47.85% 25.29% 26.86% 10.59% 10.63% 8.92% 10.15% 75.00% 7.6%
SCBD Danayasa Arthatama Tbk. 180,411 318,196 - 498,608 36.18% 63.82% 0.00% 10.21% 7.07% 0.00% 8.20% 75.00% 6.2%
SSIA Surya Semesta Internusa Tbk 330,163 499,563 547,544 1,377,269 23.97% 36.27% 39.76% 11.50% 11.13% 9.30% 10.49% 75.00% 7.9%
Kode PERUSAHAAN
Risk Free Risk Market Beta Ks Sub Sektor Properti dan Real Estate
APLN Agung Podomoro Land Tbk 8.09% 11.12% 0.73 10.3%
ASRI Alam Sutera Realty Tbk 8.09% 11.12% 1.75 13.4%
BAPA Bekasi Asri Pemula Tbk 8.09% 11.12% 0.06 8.3%
BEST Bekasi Fajar Industrial Estate Tbk 8.09% 11.12% 1.46 12.5%
BIPP Bhuwanatala Indah Permai Tbk 8.09% 11.12% 0.71 10.2%
BKSL Sentul City Tbk 8.09% 11.12% 1.08 11.4%
BSDE Bumi Serpong Damai Tbk 8.09% 11.12% 1.82 13.6%
COWL Cowell Development Tbk 8.09% 11.12% 0.40 9.3%
CTRA Ciputra Development Tbk 8.09% 11.12% 1.71 13.3%
CTRP Ciputra Property Tbk 8.09% 11.12% 1.19 11.7%
CTRP Ciputra Property Tbk 8.09% 11.12% 1.19 11.7%