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Abstrak :
Laporan magang ini bertujuan untuk mengevaluasi penerapan metode penilaian income dan market approach oleh PT Coffee Advisory dalam mengestimasi nilai indikatif PT Bandar Udara. PT Coffee Advisory adalah firma penasihat keuangan yang menawarkan jasa konsultasi terkait merger, akuisisi, restrukturisasi keuangan, studi kelayakan proyek infrastruktur, dan analisis forensik. PT Bandar Udara merupakan Badan Usaha Milik Negara (BUMN) yang mengelola bandara di Indonesia. Dalam Project Avengers, PT Coffee Advisory melakukan Enterprise Performance Management (EPM) untuk PT Bandar Udara, yang meliputi penilaian indikatif dengan income dan market approach. Cakupan laporan meliputi pemilihan perusahaan pembanding, penghitungan weighted average cost of capital, estimasi indikatif nilai valuasi berdasarkan discounted cash flow dan relative valuation, dan rekonsiliasi kedua metode tersebut. Evaluasi dilakukan dengan membandingkan praktik mengevaluasi PT Bandar Udara selama magang di PT Coffee Advisory dengan teori yang ada. Evaluasi akan menunjukkan perbedaan dalam penggunaan low-high WACC, range hasil penilaian, dan metode rekonsiliasi penilaian. Meski berbeda dengan praktik biasanya, perbedaan ini didukung oleh alasan yang kuat. Selain itu, laporan magang ini juga memuat refleksi diri tentang pengalaman magang dan menyoroti rencana pengembangan diri di masa depan. ......This internship report aims to evaluate the application of the income and market approach indicative valuation method by PT Coffee Advisory in estimating the value of PT Bandar Udara. PT Coffee Advisory is a financial advisory firm offering advisory services related to mergers, acquisitions, financial restructuring, infrastructure project feasibility studies, and forensic analysis. PT Bandar Udara is a state-owned company managing 15 Central and Eastern Indonesia airports. In Project Avengers, PT Coffee Advisory performs Enterprise Performance Management (EPM) for PT Bandar Udara, which includes indicative valuation using the income and market approach. The report's scope includes selecting comparable companies, calculating the weighted average cost of capital, valuation based on the discounted cash flow and relative valuation method, and reconciliation of both methods. Evaluation is done by comparing the author's experience evaluating PT Bandar Udara during her internship at PT Coffee Advisory with existing theories. It will show the impact of using a low-high WACC, a range of valuation results, and a new method of valuation reconciliation. Although different from the usual practice, this difference is supported by solid reasons. Moreover, this internship report also includes a self-reflection on the writer's experience during the internship and highlights the writer's future self-development plans.

Abstrak :
Laporan magang ini mengevaluasi penerapan metode relative valuation yang dilakukan PT Poodle Advisory untuk mengestimasi nilai klien PT Browniey. PT Poodle Advisory merupakan perusahaan penasihat keuangan dan PT Browniey adalah perusahaan tertutup yang bergerak di jasa teknologi informasi di Indonesia. Lingkup pembahasan adalah meliputi tahapan dalam proses valuasi secara umum, pemilihan metode valuasi, dan penerapan relative valuation. Evaluasi dilakukan dengan membandingkan kerangka konseptual evaluasi dengan pengalaman nyata penulis melakukan valuasi terhadap PT Browniey selama magang di PT Poodle Advisory. Berdasarkan hasil evaluasi, metode relative valuation yang dilakukan oleh PT Poodle Advisory memiliki esensi yang sama dengan teori pada kerangka evaluasi, namun terdapat beberapa aspek yang belum diperhitungkan, yaitu ekonomi global, makro domestik, environmental, social, governance (ESG), perbedaan karakteristik kuantitatif antara perusahaan target dengan pembanding, dan bias yang timbul dari valuation multiple perusahaan pembanding dengan EBITDA yang negatif. Laporan magang ini juga memuat refleksi diri penulis dan penulis menyadari bahwa kemampuan beradaptasi dan berkomunikasi penulis serta pembelajaran dari kuliah telah berkontribusi terhadap kelancaran magang. Namun, kemampuan manajemen waktu penulis masih perlu diperbaiki. ......This internship report evaluates the application of the relative valuation method by PT Poodle Advisory to estimate the value of client PT Browniey. PT Poodle Advisory is a financial advisory firm and PT Browniey is a private company engaged in information technology services in Indonesia. The scope of the discussion is about the stages in the valuation process in general, the selection of a valuation method, and the application of relative valuation. The evaluation is carried out by comparing the evaluation framework with the author's experience in evaluating PT Browniey during her internship at PT Poodle Advisory. Based on the evaluation result, the relative valuation method conducted by PT Poodle Advisory has the same essence as the theory in the evaluation framework, but several aspects have not been taken into account, namely the global economy, domestic macro, environmental, social, governance (ESG), the difference in quantitative characteristics between the target with the comparable companies, and bias arising from the valuation multiple of comparable companies with negative EBITDA. This internship report also contains the author's self-reflection and the author realizes that the author's adaptability and communication skills as well as learning from lectures have contributed to the success of the internship. However, the author’s time management skill still needs to be improved.