Tesis ini membahas tentang valuasi harga saham PT. Mayora Indah Tbk (MYOR) dan PT. Ultrajaya Tbk (ULTJ) dengan menggunakan metode Discounted Earning Approach, Price To Book Value Ratio, dan Enterprise Value to EBITDA. Analisa dan pembahasan dilakukan dengan menggunakan top down approach dimulai dari analisa secara makro, analisa industri dan analisa terhadap kinerja perusahaan melalui posisi keuangan perusahaan secara historikal untuk kemudian dilakukan proyeksi terhadap posisi keuangan di masa yang akan datang dan nilai intrinsik saham di masa sekarang dan akan datang. Nilai intrinsik saham tersebut kemudian dibandingkan dengan harga saham di Bursa Efek Indonesia agar dapat diketahui apakah nilai intrinsik saham overvalued atau undervalued terhadap harga saham tersebut di Bursa Efek Jakarta sehingga dapat dijadikan pertimbangan untuk pengambilan keputusan bagi investor yang berkeinginan untuk berinvestasi pada saham MYOR dan saham ULTJ.

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This thesis discusses about the stock price valuation of PT. Mayora Indah Tbk (MYOR) and PT. Ultrajaya Tbk (ULTJ) by using Discount Earning Approach Method, Price To Book Value Ratio, and Enterprise Value To EBITDA. This analysis and evaluation is performed by using a top-down approach starting from the macro analysis, industry analysis, and analysis of the performance of the company through the historical financial position and then made projections on its financial position in the future and the intrinsic value of the stock at the present and future. Intrinsic value of the share is then compared to the share price on the stock market in order to know whether the intrinsic value of the stock is overvalued or undervalued so that it can be taken into consideration for the decision-making for investors who wish to invest in MYOR dan ULTJ stocks.