PENGARUH EVA DAN KINERJA KEUANGAN TERHADAP RETURN SAHAM PERUSAHAAN TAMBANG BATUBARA DI INDONESIA

Company’s performance evaluation is absolutely necessary for optimal investment decision making for investors. Among the existing performance measurement instruments, fundamental analysis becomes one of the commonly used options in evaluating company performance. The concept of Economic Value Added (EVA) is an alternative performance evaluation that seeks to overcome the constraints of measuring value creation for investors. The EVA value measurement is the money value of the difference between Net Operating Profit After Tax and Cost of Capital. With this method, the capital cost component in the calculation of economic profit generated will be more fair due to consideration of the source of funds of the company’s capital. This research tested the correlation between EVA, Current Ratio, Return On Asset (ROA), Debt to Equity Ratio (DER), Price Earning Ratio (PER), and Sales Growth Ratio to stock Return. The sample of companies used in this research are 35 Indonesian public companies in coal mining sector in 2010 until 2014 which listed in Indonesia Stock Exchange (IDX) and obtained 27 companies as sample of research. The result of research indicate that DER influence to stock Return. Keywords: Stock Return, ROA, CR, DER, PER, EVA, Sales Growth