Financial Performance Analysis Using the Economic Value Added  (EVA) Method at PT Akasha Wira International Tbk. For the period 2020-2025

Besse Zulfa Sya’diyah; Dian Fitri Anasari; Rahmi Dayanti; Qori Nur Hidayah; Rifat Prasetya; Vincensius Aprian Mared; Yossinomita Yossinomita

doi:10.31959/jat.v5i2.4045

Authors

Besse Zulfa Sya’diyah Universitas Dinamika Bangsa, Indonesia
Dian Fitri Anasari Universitas Dinamika Bangsa, Indonesia
Rahmi Dayanti Universitas Dinamika Bangsa, Indonesia
Qori Nur Hidayah Universitas Dinamika Bangsa, Indonesia
Rifat Prasetya Universitas Dinamika Bangsa, Indonesia
Vincensius Aprian Mared Universitas Dinamika Bangsa, Indonesia
Yossinomita Yossinomita Universitas Dinamika Bangsa, Indonesia

DOI:

https://doi.org/10.31959/jat.v5i2.4045

Abstract

This study aims to evaluate the financial performance of PT Akasha Wira International Tbk during the 2020 to 2025 period using the Economic Value Added (EVA) method. The EVA method was selected because it measures the economic value added generated by the company after accounting for the cost of capital, providing a more comprehensive performance assessment than conventional financial ratios. This research employs a quantitative descriptive approach using secondary data from the Company’s annual financial statements. EVA is calculated by determining Net Operating Profit After Tax (NOPAT), Invested Capital (IC), and Weighted Average Cost of Capital (WACC). The results reflect the Company’s ability, or inability, to generate economic value added for its shareholders during the observation period. These findings are expected to contribute to management’s strategic decision-making and to investors’ assessment of the company’a fundamental performance based on economic value creation.

Keywords: Financial Performance, Capital Management, WACC, EVA, PT Akasha Wira International Tbk.