TUGASKU MANAJEMEN RISIKO II

Summary

In this discussion, three emerging companies listed on the stock exchange are analyzed: Gojek Tokopedia (Goto), Bukalapak, and Global Digital Niaga (Beli-Beli). The presenter highlights Goto's declining stock performance despite initial hype, Bukalapak's inefficient operations leading to negative earnings, and Beli-Beli's stable pricing relative to its IPO. The focus is on key financial indicators and investment potential, prompting the audience to consider whether now is the right time to buy or hold shares in these companies based on their financial health and market performance.

Takeaways

• 📉 Gojek Tokopedia (GOTO) has a book value of 31 but is currently facing significant financial losses.
• 📈 GOTO's IPO price was 400, with an initial high of 442, but has now dropped to 60, indicating a poor investment.
• 💸 Investing in GOTO is likened to 'burning money' due to its negative net income.
• 🔍 Financial indicators for GOTO show a negative net profit margin of -21% and a price-to-book ratio of 2.2.
• 📊 Bukalapak had an IPO price of 14.5 and sales of 1.1 trillion, but is struggling with high operating expenses.
• 📉 Bukalapak's net income is negative, as its operating expenses are double its gross profit.
• 💡 The book value of Bukalapak is 245, suggesting its current market price is undervalued.
• 🧐 Beli Global Digital Niaga's IPO opening price was 486, and it currently trades at 9500, showing relative price stability.
• 💲 Beli Global Digital Niaga's price-to-book ratio is 7.5, indicating it is seven times higher than its book value.
• 🤔 The overall discussion encourages assessing financial health and market opportunities before making investment decisions.

Q & A

What is the main focus of the transcript?

The transcript discusses the analysis of companies operating in the new economy sector on the stock exchange, specifically Gojek Tokopedia, Bukalapak, and Beli Global Digital Niaga.

What are the key financial indicators for Gojek Tokopedia?

Gojek Tokopedia has a book value of 31, a net income that is currently negative, and it was listed at an initial price of 400.

Why is Gojek Tokopedia's stock considered a poor investment according to the analysis?

The stock is considered poor because it is described as 'burning money' and has significantly decreased in value from its initial listing price, suggesting that many investors may not have understood its financial fundamentals.

What financial metrics are used to analyze Bukalapak?

Bukalapak's analysis includes sales of 1.1 trillion, costs of 958 billion, a gross profit of 209 billion, and negative earnings before interest and taxes (EBIT) of 286 billion.

What does a price-to-book ratio of 7.5 signify for Beli Global Digital Niaga?

A price-to-book ratio of 7.5 indicates that the stock is trading significantly higher than its book value, suggesting it may be overvalued compared to its actual assets.

How does the transcript suggest evaluating whether to buy or sell stocks?

It emphasizes considering financial indicators, market trends, and personal analysis, encouraging investors to assess whether a stock is a good buy based on its fundamentals and market behavior.

What trends are observed in the stock prices of these companies?

Stock prices for Gojek Tokopedia have seen a decline from their initial price, Bukalapak's stock price has halved since its IPO, and Beli Global Digital Niaga's stock price has remained relatively stable but high compared to its book value.

What challenges are highlighted in the management efficiency of Bukalapak?

The transcript points out that Bukalapak's operating expenses are twice its gross profit, raising questions about its management efficiency.

What is the current market position of Gojek Tokopedia as mentioned in the transcript?

Gojek Tokopedia's stock has dropped to around 60 from an initial listing of 400, indicating a significant loss in market confidence.

What kind of analytical approach is encouraged in the discussion of these stocks?

The approach encourages understanding both fundamental and technical analysis to inform investment decisions, weighing potential risks against rewards.