ANALISIS FUNDAMENTAL DALAM MENENTUKAN KEPUTUSAN INVESTASI DAN EVALUASI NILAI PERUSAHAAN
Abstract
Investment decisions in the capital market are a crucial aspect that requires accurate strategies and instruments, especially given the significant increase in the number of investors in Indonesia. However, many investors still tend to follow market trends (herding behavior), which can potentially trigger price distortions and increase volatility. This study aims to analyze the central role of fundamental analysis as the foundation for rational investment decision-making and as a tool for evaluating a company's intrinsic value. Using a literature study method, the research findings indicate that the application of fundamental analysis significantly influences the quality of investment decisions through three main aspects: macroeconomic analysis (such as inflation and interest rates), industry analysis (market structure and competition), and company analysis through financial statements. Financial ratio analysis, which includes profitability ratios (ROA, ROE), liquidity ratios (CR, QR), and solvency ratios (DER), provides an objective overview of a company's financial health and efficiency. Furthermore, company valuation using market indicators such as PER, PBV, and Tobin's Q demonstrates that companies with strong fundamentals tend to be more attractive to investors, thereby driving stock price appreciation. Overall, this study concludes that fundamental analysis is an essential instrument for making measured investment decisions, reducing risk, and optimizing long-term profit potential in the capital market.
References
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[3] Bank Indonesia, Laporan Ekonomi dan Moneter. 2023.
[4] Bank Indonesia, Laporan Perekonomian Indonesia: Proyeksi Pertumbuhan Ekonomi 2023. 2023. [Online]. Available: http://lpi.co.id/kaleidoskop/index/2023
[5] Bank Indonesia, “Laporan ekonomi dan keuangan: Dampak kebijakan moneter terhadap nilai perusahaan,” 2023. [Online]. Available: https://www.bi.go.id/id/publikasi/laporan-ekonomi-keuangan/default.aspx
[6] Bloomberg, “Sentimen pasar dan fluktuasi harga saham: Dampak berita korporasi,” 2023. [Online]. Available: https://www.bloomberg.com/markets
[7] BPS, Statistik Ekonomi. 2023.
[8] Bursa Efek Indonesia (BEI), “Rata-rata PER dan PBV perusahaan terdaftar,” 2022. [Online]. Available: https://www.idx.co.id/id/data-pasar/ringkasan-perdagangan
[9] E. S. Fathmaningrum and T. P. Utami, “Determinants of Investment Decisions in the Capital Market During the COVID-19 Pandemic,” J. Account. Invest., vol. 23, no. 1, pp. 147–169, 2022. [Online]. Available: https://journal.umy.ac.id/index.php/ai/article/view/13408
[10] H. Musfidah, T. S. Aji, and U. Hartono, “Defining Investment Decision Making in the Stock Market: A Literature Review,” J. World Econ. Transform. Transitions, vol. 2, no. 05, 2022. [Online]. Available: https://www.researchgate.net/publication/366174491_Defining_Investment_Decision_Making_in_the_Stock_Market_A_Literature_Review
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[12] International Energy Agency (IEA), World Energy Investment Report. 2023.
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[14] M. G. T. M. Putri and B. Santoso, “Sistem Investasi di Indonesia,” TOMAN J. Top. Manaj., vol. 1, no. 2, 2022. [Online]. Available: https://jurnal.sitasi.id/toman/article/view/98
[15] Otoritas Jasa Keuangan (OJK), Laporan Statistik Pasar Modal. 2022.
[16] Otoritas Jasa Keuangan (OJK), “Laporan kinerja OJK triwulan I 2023: Margin laba dan pengelolaan utang,” 2023. [Online]. Available: https://id.scribd.com/document/709428060/Laporan-Kinerja-OJK-Triwulan-I-2023
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[19] PT Telekomunikasi Indonesia Tbk, Laporan Tahunan 2022. 2022.
[20] PT Unilever Indonesia Tbk, Laporan Tahunan 2022. 2022.
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[23] R. Sari, “Tren investasi saham di Indonesia,” J. Manaj. Bisnis dan Kewirausahaan, vol. 7, no. 4, 2023. [Online]. Available: https://jurnal.untan.ac.id/index.php/MBIC/article/download/77026/75676601189
[24] R. Sari, “Analisis kinerja saham unggulan tahun 2023 di pasar saham Indonesia (tren PBV investasi),” J. Manaj. Bisnis dan Kewirausahaan, vol. 7, no. 4, 2023. [Online]. Available: https://jurnal.untan.ac.id/index.php/MBIC/article/download/77026/75676601189
[25] S. Bikhchandani and S. Sharma, “Herd Behavior in Financial Markets: A Review,” Financ. Mark. Inst. Instrum., vol. 10, no. 3, pp. 181–206, Aug. 2001.
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[27] S. Prabowo and T. Hidayat, “Pengaruh analisis fundamental dan teknikal terhadap keputusan pembelian saham,” J. Moneter, vol. 1, no. 1, 2024. [Online]. Available: https://journal.areai.or.id/index.php/Moneter/article/download/266/285/1154
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[30] S. Rahardjo and D. Sari, “Pengaruh corporate governance terhadap nilai perusahaan (Tobin's Q) pada perusahaan manufaktur,” J. Manaj. dan Keuangan, vol. 12, no. 2, 2023. [Online]. Available: https://jurnal.uisu.ac.id/index.php/mkd/article/download/6558/5023
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[35] Statista, Global IT Industry Revenue. 2023.
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Published
2025-12-28
How to Cite
HERLIN, Annisa Rahmah et al.
ANALISIS FUNDAMENTAL DALAM MENENTUKAN KEPUTUSAN INVESTASI DAN EVALUASI NILAI PERUSAHAAN.
Jurnal Ekonomi dan Bisnis (EK&BI), [S.l.], v. 8, n. 2, p. 517-528, dec. 2025.
ISSN 2621-4695.
Available at: <https://jurnal.murnisadar.ac.id/index.php?journal=EKBI&page=article&op=view&path%5B%5D=2556>. Date accessed: 16 may 2026.
doi: https://doi.org/10.37600/ek&bi.v8i2.2556.
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