Why is the Date of Valuation Important?

In fact, in our experience, it seldom is. But when there are unusual circumstances, the date of valuation can be as critical as the Standard of Value imposed.

From time to time we see a case where the managing spouse has taken covert or overt steps to adversely affect the value of the community-owned business. The dentist, for example who reduces his case-load voluntarily, or the contractor who delays signing contracts until after the trial to divide the community. Other times, we see the case discussed by the Court in Duncan, where the value of the business increases owing to the efforts of the managing spouse. In these fairly rare circumstances, the value of the company can vary substantially between separation and trial.

As a practical matter, it is a good idea to have your appraisal expert value the company at both dates of valuation, especially where the date of value has not been decided in advance.Why is the Date of Valuation Important?

In fact, in our experience, it seldom is. But when there are unusual circumstances, the date of valuation can be as critical as the Standard of Value imposed.

From time to time we see a case where the managing spouse has taken covert or overt steps to adversely affect the value of the community-owned business. The dentist, for example who reduces his case-load voluntarily, or the contractor who delays signing contracts until after the trial to divide the community. Other times, we see the case discussed by the Court in Duncan, where the value of the business increases owing to the efforts of the managing spouse. In these fairly rare circumstances, the value of the company can vary substantially between separation and trial.

As a practical matter, it is a good idea to have your appraisal expert value the company at both dates of valuation, especially where the date of value has not been decided in advance.

Why do a biz valuation

Why Do A Business Valuation?

By Leonard Holler, Wyoming Entrepreneur – Small Business Development Center Regional Director and Certified Valuation Analyst.

Gil in Cody, Wyoming asks, “Why would a small business owner, like myself, need a valuation done? I am not trying to sell my business.”

At first it might seem that the only reason for a business valuation is for no more than the casual interest of a business owner. The fact is that there are as many kinds and varieties of values as there are reasons for valuing a business.

In some recent articles in Inc. magazine and Entrepreneur magazine, they conclude that business valuations are important for businesses of ANY size – and not just when a business is being bought or sold. Inc. magazine stated – “A business's success is ultimately measured by a business's value…. Knowing your net worth as a private business owner provides a useful snapshot of where your company stands, what options it has, and how it can improve in the long term." In short, business valuations are a significant planning tool for small and large businesses alike.

They are used in various business situations and can be impacted by any number of circumstances. Some of the common uses of business valuations include –

• Determining the price to buy, sell or merge a business.
• A reality check of your business performance.
• A tool for developing employee and business improvement goals.
• Setting prices for adding new shareholders, new stock purchases or buying back shares from existing shareholders.
• Helping determine the business owner’s personal net worth for estate planning, insurance requirements and financial planning.
• Obtaining or even maintaining financing options.
• Employee stock ownership plans (valuations are required by ERISA).
• Stock bonuses or other compensation incentive plans.
• Going public and IPO research.
• Feasibility of management or leveraged buyouts.
• Divorce proceedings of owners and shareholders.
• Various litigation support documentation.
• Mediation and arbitration of disputes between shareholders or business partners.
• Value of business spin-offs.
• Bankruptcy, business liquidation or reorganization decisions.
• Exit strategy planning and development.
• Conducting due diligence on mergers or acquisitions.

Business owners also need to periodically evaluate their own performance. Financial ratio analysis and business valuations can help them objectively determine their management effectiveness. This is not the only measurement of how well a business is operating, but can give you reason to ask more questions about how you operate your business.

- See more at: http://wyomingentrepreneur.typepad.com/blog/2010/03/why-do-a-business-valuation.html#sthash.WpYfMPOA.dpuf

Valuation Key to M & A

It has been a few years since the last big wave of mergers and acquisitions, but as baby boomers approach retirement, the M&A arena likely will heat up again. Valuation services are essential for both buyers and sellers in the M&A process, and valuation experts are critical to the success of a buyer’s or seller’s advisory team.

On the Selling Side

Business owners – particularly those who founded the business – often have an unrealistic idea of the company’s value to a buyer. Sometimes it’s just false hope or an inflated ego that clouds the owner’s vision. More often, however, owners have a number in their head that they believe the company is worth, but can’t support that number with data.

For this reason, it’s a good idea to have a business valuation performed early in the sale process. This will give the owner a range of realistic values to pursue, based on comparable companies and multiples of EBITDA, sales, book value or other relevant data. If the range is unacceptably low to the owner, it will also give him or her time to make adjustments in the company, increase earnings or address other problems before sale.

Valuation experts also assist business owners in several other areas before and during the sale process:

Confidential Offering Memorandum: The confidential offering memorandum is a formal offer to sell the business. It presents an overview of the company and its management, historical data from audited or reviewed financial statements, and other information of interest, customized for potential buyers.

A business valuation professional plays an important role in the preparation of this document. The valuation expert is tuned into the synergies the business has with each potential buyer and can tweak the overall presentation of the company’s strengths to align them with the needs of targeted buyers.

Data Room Set-Up and Due Diligence Response: As potential buyers respond to the confidential offering memorandum, the valuation expert should be considered as the gatekeeper for the due diligence team. He or she often sets up and monitors the “data room,” or online repository of information, as it is made available to buyers.

The valuation expert also plays a role in crafting due diligence responses. His or her input can help sellers avoid problems by revealing too much, saying too little or using language in a way that may have unexpected consequences.

Purchase and Sale Agreement: The design of this legal agreement requires the input of the business valuation expert. He or she can:

• help draft wording that defines the purchase price,
• provide detail for calculations,
• give examples to illuminate the interpretation of legal terms, and
• ensure that the agreement is in conformance with the client’s accounting procedures and policies.

On the Buying Side

A valuation professional is also an integral part of the buyer’s advisory team. For example, a valuation expert has knowledge of the necessary financial information to draft the letter of intent to buy a business. He or she is also involved in determining fair market value, the synergies expected and the purchase price for the target business.

In the due diligence phase, a valuation expert can help the buyer by reviewing the initial valuation and the details of the confidential offering memorandum. Valuation professionals are also involved in drafting the purchase agreement and translating legal terms into workable examples.

When putting together an advisory team for mergers and acquisitions, choose a valuation expert who knows your business and industry. Given his or her knowledge, the business valuation expert can help ensure that you make the most of the purchase or sale.

MATERI PENDIDIKAN DASAR PENILAIAN I BISNIS

MATERI PENDIDIKAN DASAR PENILAIAN I BISNIS :
 Laba Rugi, Neraca, Arus Kas
 Analisis Perbandingan, Time Series Trens dan Common Size, Dupont
 Modal Kerja
 Manajemen Keuangan I
 Pengetahuan tentang Perpajakan di Indonesia
 Pengenalan Pasar Modal
 Pengantar Ekonomi Mikro dan Makro
 Pengenalan Jenis Saham

How To Value An Insurance Company

Most investors avoid trying to value financial firms due to their complicated nature. However, a number of straightforward valuation techniques and metrics can help them quickly decide whether digging deeper into valuation work will be worth the effort. These straightforward techniques and metrics also apply to insurance companies, though there are also a number of more specific industry valuation measures.

A Brief Introduction to Insurance

On the face of it, the concept of an insurance business is pretty straightforward. An insurance firm pools together premiums that customers pay to offset the risk of loss. This risk of loss can apply to many different areas, which explains why health, life, property and casualty (P&C) and specialty line (more unusual insurance where risks are more difficult to evaluate) insurers exist. The difficult part of being an insurer is properly estimating what future insurance claims will be and setting premiums at a level that will cover these claims, as well as leave an ample profit for shareholders.

Beyond the above core insurance operations, insurers run and manage investment portfolios. The funds for these portfolios come from reinvesting profits (such as earned premiums, where the premium is kept because no claim occurred during the policy's duration) and from premiums before they get paid out as claims. This second category is a concept known as float and is important to understand. Warren Buffett frequently explains what float is in Berkshire Hathaway’s annual shareholder letters. Back in 2000 he wrote:

"To begin with, float is money we hold but don't own. In an insurance operation, float arises because premiums are received before losses are paid, an interval that sometimes extends over many years. During that time, the insurer invests the money. This pleasant activity typically carries with it a downside: The premiums that an insurer takes in usually do not cover the losses and expenses it eventually must pay. That leaves it running an "underwriting loss", which is the cost of float. An insurance business has value if its cost of float over time is less than the cost the company would otherwise incur to obtain funds. But the business is a lemon if its cost of float is higher than market rates for money."

Buffett also touches on what makes valuing an insurance company difficult. An investor has to trust that the firm’s actuaries are making sound and reasonable assumptions that balance the premiums they take in with the future claims they will have to pay out as insurance payments. Major errors can ruin a firm, and risks can run many years out, or decades in the case of life insurance.

Insurance Valuation Insight 

A couple of key metrics can be used to value insurance companies, and these metrics happen to be common to financial firms in general. These are price to book (P/B) andreturn on equity (ROE). P/B is a primary valuation measure that relates the insurance firm’s stock price to its book value, either on a total firm value or a per-share amount.Book value, which is simply shareholders’ equity, is a proxy for a firm’s value should it cease to exist and be completely liquidated. Price to tangible book value strips out goodwill and other intangible assets to give the investor a more accurate gauge on the net assets left over should the company close shop. A quick rule of thumb for insurance firms (and again, for financial stocks in general) is that they are worth buying at a P/B level of 1 and are on the pricey side at a P/B level of 2 or higher. For an insurance firm, book value is a solid measure of most of its balance sheet, which consists of bonds, stocks and other securities that can be relied on for their value given an active market for them.

ROE measures the income level an insurance firm is generating as a percentage of shareholders equity, or book value. An ROE around 10% suggests a firm is covering its cost of capital and generating an ample return for shareholders. The higher the better, and a ratio in the mid-teens is ideal for a well-run insurance firm.

Income Approach is usually your best approach to business valuation

There seems to be a lot of confusion among my clients about business valuation. They think that it is based on the potential market in their industry or some “blue sky” number that they can’t quite quantify. There are generally only three approaches used in business valuation: the asset-based approach, the market approach, and the income approach. Now, I’ve given away the punch line of which I think is best with the title of this article; but humor me as I describe all three options.

The asset based approach basically just looks at the value of the assets on your balance sheet. Simple, huh? It assumes that your business’s value is equal to the sum of its assets or net asset value. This approach can work for asset based businesses but really misses the mark with service businesses with little to no assets on the books. And it misses a company’s intangible assets like its reputation, strong client list, etc.

The market approach looks at comparable sales of similar businesses. This real estate approach requires that you find “comps” to your business that sold recently. Easier said than done with privately held businesses. And just because another ABC business sold for $XX down the road doesn’t mean that your business is worth the same amount. They may have superior (or worse) processes,

products, reputation, etc.

Finally, there is the income approach. This approach looks at the cash flows of the business, projects them into the future with a  discount, and adds in the assets too. IRS Revenue Ruling 59-60 says that earnings are preeminent for the valuation of privately held businesses. The premise behind this method is that a company should not have a price higher than the amount of cash it will generate in the future. Also, the time value of money is factored in, ie., $100 today is worth more than $100 in ten years or

even one year.

Where people seem to get mixed up is the discount rate, so let’s talk about that. The discount rate is essentially a measure of how risky an investment in this particular company would be, or what the required return would be for investing. It’s composed of two parts, the risk-free rate, which is the return that an investor would expect from a secure, practically risk-free investment, and a risk-free rate that compensates an investor for the relative level of risk associated with a particular investment. A typical investment will carry a discount rate somewhere between 9% and 17%.

The benefit of this approach is that a business’s client base, superior processes/products, good reputation, etc. is typically reflected  in strong revenues and healthy cash flows. And healthy cash flows is what grows (and sells) a business. Cash (flow), as they say, is king.

Why should a biz owner consider an independent biz valuation

Why Should A Business Owner Consider An Independent Business Valuation

By bmazar on August 21, 2013

A Business Valuation is valuable in a sale or buyout of a business, estate planning, exit planning, tax planning, buy-out agreements, or divorce. However, the most important reason for a business valuation is the knowledge it yields. Once the owner and or their advisors know the market value of a business they will also learn how objective and subjective value drivers decrease or increase the value of a business. They are able to use this knowledge in successfully growing the value of their businesses. It s common that many business owners often leave substantial money on the table when they sell their businesses. The most common cause for this result is the fact the business had nothing in place to defend the asking price and or the value of their business. As a result the buyer and their advisors were able to discredit the asking price piece by piece as the seller stood by defenseless. If the business owner had independent business valuation report the outcome would have been succes
http://www.fortunebta.com/why-should-a-business-owner-consider-an-independent-business-valuation/

Samples-Valuation, Term Sheet, NDA

Samples-Valuation, Term Sheet, NDA

Studi Kelayakan

Studi Kelayakan (Feasibility Study) adalah kajian yang dilihat dari berbagai segi aspek baik aspek legalitas, aspek teknis, pemasaran, sosial ekonomi maupun manajemen dan keuangan, yang hasilnya digunakan untuk mengambil keputusan suatu proyek dijalankan, ditunda, atau tidak dijalankan. Studi kelayakan dibutuhkan oleh banyak kalangan, terutama bagi para investor, bank selaku pemberi kredit, dan pemerintah yang memberikan fasilitas tata peraturan hukum dan perundang-undangan, yang tentunya kepentingan semuanya itu berbeda satu sama lainya.

Layanan Sektor Usaha

Study kelayakan yang kami sediakan meliputi  :

• Sektor Pertanian, Perkebunan dan Kehutanan
• Sektor Pertambangan
• Sektor Industri Manufaktur
• Sektor Industri Pariwisata, restoran, dan perhotelan
• Sektor Industri Properti
• Sektor Industri Transportasi dan Komunikasi, dll.

Inspeksi Lapangan

Setelah identifikasi ruang lingkup kegiatan proyek, tahapan selanjutnya melakukan inspeksi ke lokasi proyek dan mengumpulkan data-data yang terkait dengan proyek yang sedang dikerjakan.

Waktu Pengerjaan

Waktu pengerjaan sebuah laporan studi kelayakan biasanya memakan waktu kurang lebih dua puluh satu hari kerja setelah  data‑data yang diperlukan lengkap kami  terima dan peninjauan lapangan selesai kami lakukan.

Pembahasan Laporan

Studi Kelayakan terdiri dari beberapa kajian dan pembahasan, terdiri dari :

• Pendahuluan

Pembahasan mengenai latar belakang proyek, tujuan penyusunan studi kelayakan, metode yang digunakan dan sistematika pembahasan.

• Gambaran Umum Perusahaan dan Manajemen

Dalam aspek ini ditelaah mengenai status legalitas perusahaan, serta izin-izin yang telah dimiliki oleh perusahaan sampai saat ini.

• Aspek Teknis

Dalam aspek ini akan dibahas mengenai hal-hal yang berkaitan dengan teknis proyek.

• Aspek Pemasaran

Dalam aspek ini ditelaah mengenai evaluasi meliputi makro ekonomi, perkembangan pasar mengenai proyek, peluang dan pangsa pasar, dan rencana proyek.

• Tinjauan Dampak Lingkungan

Dalam aspek ini ditelaah mengenai dampak lingkungan dan sosial ekonomi akan adanya rencana proyek.

• Aspek Keuangan

Dalam aspek ini ditelaah mengenai pembiayaan proyek, sumber pembiayaan, asumsi-asumsi, proyeksi keuangan, dan analisa keuangan.

• Analisa Risiko

Untuk mengetahui sejauh mana risiko yang dihadapi perusahaan, yang meliputi resiko internal maupun resiko eksternal dalam operasional perusahaan.

Sistematika Pelaporan

Laporan yang akan diberikan untuk pekerjaan studi kelayakan terdiri dari :

• Laporan Awal (For Discuss Only)
• Draft Laporan
• Laporan Akhir Pekerjaan (Final Report)

Standar Nilai Dalam Penilaian Saham

Dalam penilaian saham terdapat berbagai standar nilai sesuai dengan SPI 2007 antara lain:

Nilai Buku dengan mengacu pada aset, merupakan biaya perolehan aset yang dikapitalisasi dikurangi akumulasi penyusutan, deplesi atau amortisasi yang tertera pada laporan akuntansi usaha. (3.20.1, PPPI 6, SPI 2007)

Nilai Buku dengan mengacu pada perusahaan/entitas usaha, adalah perbedaan antara jumlah aset (bebas dari penyusutan, deplesi dan amortisasi) dan jumlah kewajiban suatu bisnis sebagaimana tercantum dalam neraca. (3.20.2, PPPI 6, SPI 2007)

Nilai Buku yang Disesuaikan merupakan nilai buku yang dihasilkan ketika satu atau lebih aset atau kewajiban ditambahkan, dikurangkan, atau diubah dari jumlah yang dilaporkan dalam buku. (3.21, PPPI 6, SPI 2007)

Nilai Investasi yaitu nilai dari suatu perusahaan atau saham atau kepentingan dalam perusahaan yang bersifat spesifik terhadap seorang investor, didasarkan pada atau terkait dengan persyaratan tertentu dari seorang atau kelompok investor. (3.22, PPPI 6, SPI 2007)

Nilai Likuidasi adalah perkiraan jumlah uang tunai bersih atau yang bersifat ekuivalen yang dapat diperoleh jika bisnis suatu perusahaan dihentikan dan asetnya dijual secara terpisah dalam suatu proses penjualan yang bersifat normal. (3.23, PPPI 6, SPI 2007)

Nilai Likuidasi Paksa merupakan perkiraan jumlah uang tunai bersih atau yang bersifat ekivalen yang dapat diperoleh jika bisnis suatu perusahaan dihentikan dan asetnya dijual secara terpisah dalam waktu yang sesingkat mungkin, misalnya pelelangan. (3.24, PPPI 6, SPI 2007)

Nilai Pasar Wajar adalah estimasi jumlah uang tunai atau yang bersifat ekivalen yang dapat diperoleh dari suatu transaksi jual beli perusahaan atau saham atau kepentingan dalam perusahaan antara pembeli yang berminat membeli (willing buyer) dan penjual yang berminat menjual (willing seller) yang keduanya memiliki kemampuan untuk melakukan suatu transaksi, bertindak tanpa ada keterpaksaan dan masing-masing memiliki fakta dan informasi yang relevan. (3.26, PPPI 6, SPI 2007)

Nilai Wajar adalah nilai dari perusahaan atau saham yang berlaku secara khusus untuk kasus adanya pemegang saham yang berbeda pendapat (dissenting shareholder). (3.27, PPPI 6, SPI 2007)

ANALISA LAPORAN KEUANGAN

Tujuan dilakukan analisa laporan keuangan:

• Untuk memberi gambaran tentang operasi yang normal
• Untuk mengestimasi kemampuan ekonomi dan prospek suatu bisnis
• Perbandingan dengan bisnis yang sejenis untuk mengevaluasi risiko dan parameter nilai

Analisa dalam Nominal Uang

Analisa ini digunakan untuk menguji keterkaitan angka-angka akuntansi dan tren angka tersebut dalam suatu kepemilikan bisnis sepanjang waktu.

Analisa dalam Presentasi (Common Size)

Merupakan analisa perbandingan dalam laporan laba rugi dan neraca. Untuk laporan rugi pembaginya adalah penjualan sedangkan untuk neraca pembaginya adalah total aktiva. Analisa ini digunakan untuk membandingkan tren hubungan, misalnya antara pendapatan dan pengeluaran atau perbandingan dalam pos-pos nerada serta perbandingan di antara bisnis sejenis.

Penyesuaian Laporan Keuangan

Penyesuaian laporan keuangan dilakukan dengan cara:

• Penyesuaian non recurring. Memisahkan pos-pos non recurring atau terdapat pos-pos di dalam laporan keuangan yang tidak mencerminkan nilai yang wajar seperti misalnya kerugian akibat bencana alam, gugatan hukum dll.
• Penyesuaian non operasi. Memisahkan pos-pos non operasi normal perusahaan dengan mengeluarkan terlebih dahulu. Dengan anggapan bahwa jika bisnis terjual dalam transaksi jual/beli (yang mendasari standar nilai pasar wajar), penjual akan mempertahankan aset yang tidak terkait dengan operasional perusahaan.
• Penyesuaian unsur kendali. Menyesuaikan pengaruh unsur kendali dengan memisahkan pos-pos dalam laporan keuangan dari transaksi yang bersifat memiliki kepentingan kendali, seperti transaksi dengan pihak-pihak terafiliasi yang memiliki kendali antara lain berupa kompensasi manajemen yang berlebihan, struktur permodalan, biaya dan beban yang berlebihan, gaji pengurus yang terlalu tinggi
• Kebijakan akuntansi. Menyesuaikan kebijakan akuntansi untuk mengeliminiasi perbedaan dengan industri yang bersangkutan
• Menyesuaikan pos-pos lainnya yang tidak wajar

Analisa Rasio Keuangan

Analisa rasio keuangan digunakan untuk membandingkan risiko secara relatif terhadap suatu bisnis sepanjang waktu dan diantara bisnis yang sejenis.

Rasio Keuangan Perusahaan

Rasio Likuiditas

Rasio ini mengukur bagaimana kemampuan perusahaan dalam memenuhi kewajiban jangka pendek.

Current Ratio. Merupakan ukuran kemampuan aktiva lancar perusahaan untuk melunasi hutang lancar.

Current Ratio = Current Assets/Current Liabilities

Quick Ratio. Merupakan ukuran kemampuan aktiva lancar perusahaan untuk melunasi hutang tanpa persediaan karena persediaan merupakan aktiva lancar yang paling tidak likuid (karena persediaan dapat rusak dan hilang).

Quick Ratio = Current Assets – Inventory/Current Liabilites

Account Payable Turnover. Merupakan ukuran kemampuan penjualan perusahaan untuk melunasi hutang usaha.

Account Payable Turnover = COGS/Account Payable

NWC to Total Asset. Merupakan ukuran kemampuan modal kerja bersih perusahaan terhadap total aset.

NWC to Total Asset = NWC/Total Assets

Rasio Efektivitas

Rasio ini mengukur bagaimana kemampuan perusahaan mendayagunakan harta untuk mendukung pendapatan dan laba.

Inventory Turnover. Merupakan ukuran tingkat efisiensi perusahaan dalam mengatur persediaan.

Inventory Turnover = COGS/Inventory

Account Receivable Turnover. Merupakan ukuran seberapa cepat perusahaan menerima pelunasan piutang dagang dari pelanggan.

Account Receivable Turnover = Sales/Account Receivable

Asset Turnover. Merupakan ukuran kemampuan total aset yang dimiliki oleh perusahaan untuk mendukung aktifivitas penjualan perusahaan.

Asset Turnover = Sales/Assets

NWC Turnover. Merupakan ukuran kemampuan modal kerja perusahaan untuk mendukung penjualannya.

NWC Turnover = Sales/NWC

Fixed Asset Turnover. Merupakan ukuran kemampuan aktiva tetap yang dimiliki oleh perusahaan untuk mendukung aktifivitas penjualan perusahaan.

Fixed Asset Turnover = Sales/Fixed Asset

Rasio Profitabilitas

Rasio ini mengukur bagaimana return perusahaan dibandingkan sales, assets dan equity.

Return on Equity. Merupakan ukuran kemampuan ekuitas perusahaan dalam menghasilkan laba bersih.

Return on Equity = Net Income/Owner’s Equity

Return on Asset. Merupakan ukuran kemampuan aset perusahaan dalam menghasilkan laba bersih.

Return on Asset = Net Income/Total Assets

Gross Profit Margin. Merupakan ukuran kemampuan penjualan dalam menghasilkan laba kotor.

Gross Profit Margin= Gross Profit/Sales

Operating Profit Margin. Merupakan ukuran kemampuan penjualan dalam menghasilkan laba operasi.

Operating Profit Margin= Operating Profit/Sales-.

Net Profit Margin. Merupakan ukuran kemampuan penjualan dalam menghasilkan laba bersih.

Net Profit Margin=Net Profit/Sales-.

Rasio Solvabilitas

Rasio ini mengukur bagaimana kemampuan perusahaan dalam memenuhi kewajiban jangka panjang.

Times Interest Earned. Merupakan ukuran kemampuan laba operasi perusahaan untuk membayar bunga hutang.

Times Interest Earned=EBIT/Interest Expense

Equity Multiplier. Merupakan ukuran kemampuan total aset perusahaan terhadap total ekuitas perusahaan.

Equity Multiplier=Total Assets/Owner’s Equity

Interest Bearing Debt to Total Asset. Merupakan ukuran kemampuan total aset perusahaan terhadap hutang berbunga perusahaan.

IBD to Total Asset=IBD/Total Assets

Interest Bearing Debt to Equity. Merupakan ukuran kemampuan total ekuitas perusahaan terhadap hutang berbunga perusahaan.

IBD to Total Equity=IBD/Total Equity

Analisa Rasio Perbankan

Rasio Likuiditas

Merupakan analisa tentang kemampuan bank dalam memenuhi kewajiban melunasi hutang−hutangnya, membayar kembali semua deposan, serta dapat memenuhi permintaan kredit yang diajukan dalam jangka pendek.

Quick Ratio. Untuk mengukur kemampuan bank dalam membayar kembali simpanan deposannya dengan sejumlah cash asset yang dimiliki bank. Semakin besar semakin bagus.

Quick Ratio = Cash Asset/Total Deposit

Investment to Policy Ratio. Untuk mengukur kemampuan bank dalam melunasi kewajiban para deposannya dengan melikuidasi surat−surat berharga yang dimilikinya. Semakin besar semakin bagus.

Investment to Policy Ratio = Securities/Total Deposit

Banking Ratio. Untuk mengukur kemampuan bank dalam melunasi kewajiban pada para penyimpan dana dengan menarik kembali kredit yang diberikan kepada debitur. Semakin besar semakin bagus.

Banking Ratio = Total Loan/Total Deposit

Loan to Assets Ratio. Untuk mengukur kemampuan bank dalam memenuhi permintaan kredit para debitur melalui jaminan sejumlah aset yang dimiliki. Semakin besar semakin bagus.

Loan to Assets Ratio = Total Loan/Total Assets

Rasio Rentabilitas

Merupakan rasio untuk mengetahui kemampuan bank dalam menghasilkan laba melalui kegiatan operasional bank. Semakin besar semakin bagus.

Gross Profit Margin. Merupakan ukuran kemampuan penjualan dalam menghasilkan laba kotor. Semakin besar semakin bagus.

Gross Profit Margin = (Operating Income – Operating Expense)/Operating Income

Net Profit Margin. Merupakan ukuran kemampuan penjualan dalam menghasilkan laba bersih.

Net Profit Margin = Net Income/Operating Income

Return on Equity. Merupakan ukuran kemampuan ekuitas bank dalam menghasilkan laba bersih. Semakin besar semakin bagus.

Return on Equity = Net Income/Equity

Income to Total Asset. Merupakan ukuran kemampuan bank dalam menghasilkan laba bersih melalui penggunaan sejumlah aktiva bank. Semakin besar semakin bagus.

Income to Total Asset = Net Income/Total Assets

Interest Margin on Loan. Untuk mengetahui prosentase laba diukur dari kemampuan perkreditan yang dimiliki oleh suatu bank dibandingkan dengan selisih bunga yang didapat. Semakin besar semakin bagus.

Interest Margin on Loan = (Operating Income – Operating Expense)/Total Loans

Gross Income to Total Assets. Untuk mengetahui kemampuan bank dalam menghasilkan laba kotor melalui penggunaan sejumlah aset. Semakin besar semakin bagus.

Gross Income to Total Asset = Gross Income/Total Assets

Analisa Posisi Risiko Usaha Bank

Merupakan rasio yang dapat digunakan untuk mengukur kemampuan bank dalam menyanggah risiko dari aktivitas operasi.

Liquidity Risk. Rasio ini digunakan untuk mengukur kemampuan bank dalam menyanggah risiko kemungkinan kegagalan memenuhi kewajiban kepada para deposannya. Semakin besar semakin bagus.

Liquidity Risk = Liquid Assets/Total Deposits

Asset Risk. Rasio ini digunakan untuk mengukur kemampuan bank dalam menyanggah risiko kegagalan pengembalian simpanan yang segera dibayarkan kepada debitur melalui jaminan modal sendiri. Semakin besar semakin bagus.

Asset Risk = Equity Capital/(Total Assets – cash – Securities)

Deposit Risk Ratio. Rasio ini digunakan untuk mengukur kemampuan bank untuk membayar kembali dana yang disimpan para deposannya, yang harus dijamin pembayarannya oleh capital bank. Semakin besar semakin bagus.

Deposit Risk Ratio = Equity Capital/Total Deposit

Interest Rate Risk. Rasio ini digunakan untuk mengukur resiko usaha bank ditinjau dari bunga yang diterima bank apakah lebih kecil bila dibandingkan dengan bunga yang harus dibayar oleh bank. Semakin besar semakin bagus.

Interest Rate Risk = Interest Sensitive Assets/Interest Sensitive Liabilities

Credit Risk. Rasio ini digunakan untuk mengukur kemampuan bank dalam menyanggah risiko kegagalan pengembalian kredit oleh debitur. Semakin besar semakin bagus. Semakin besar semakin bagus.

Credit Risk = Bad Debt/Total Loan

Analisa Rasio Permodalan

Salah satu cara untuk menghitung apakah jumlah kapital yang ada pada suatu bank telah memadai atau belum.

Primary Ratio. Rasio ini digunakan untuk mengukur kemampuan permodalan bank dalam menyanggah aset akibat berbagai kerugian yang tidak dapat dihindari. Semakin besar semakin bagus. Semakin besar semakin bagus.

Primary Ratio = Equity/Total Assets

Capital Ratio. Rasio ini digunakan untuk mengukur kemampuan permodalan bank dalam menyanggah sejumlah pinjaman pada nasabah. Semakin besar semakin bagus.

Capital Ratio = Equity/Total Loans

Deposit Risk Ratio. Rasio ini digunakan untuk mengukur kemampuan bank untuk membayar kembali dana yang disimpan para deposannya, yang harus dijamin pembayarannya oleh capital bank. Semakin besar semakin bagus.

Deposit Risk Ratio = Equity/Total Deposit

Capital Adequacy Ratio (CAR). Rasio ini digunakan untuk mengukur kecukupan modal bank guna menutupi kemungkinan kerugian dalam pemberian kredit dan perdagangan surat-surat berharga. Semakin besar semakin bagus.

Capital Adequacy Ratio = Equity Capital/ATMR (Aktiva Tertimbang Menurut Risiko)

Analisa Efisiensi Usaha

Analisa ini untuk mengukur tingkat efisiensi kemampuan manajemen suatu bank dalam mengelola aset yang dimiliki oleh bank yang bersangkutan. Semakin besar semakin bagus.

Leverage Multiplier. Rasio ini digunakan untuk mengukur kemampuan manajemen suatu bank dalam mengelola aset yang dikuasainya, mengingat atas penggunaan aktiva tetap tersebut bank harus mengeluarkan sejumlah biaya tetap. Semakin besar semakin bagus.

Leverage Multiplier = Total Asset/Total Capital

Asset Utilization. Rasio ini digunakan untuk mengukur kemampuan manajemen bank dalam memanfaatkan aset yang dimiliki untuk memperoleh laba operasi dan laba non operasi. Semakin besar semakin bagus.

Asset Utilization = (Operating Income + NonOperating Income)/Total Assets