Sebagai akuntan saya hanya bisa ngakak dan ketawa kalo ada yang ngaku si paling "jago" (bukan $ARTO ) saham tapi pake P/E Ratio atau PBV doang. Kayak cuman cigarbutt atau asset play doang yang valid.

Saya kasih daftar metrik (sebanyak mungkin, dari basic sampai advance):

📊 Valuation (ngukur mahal/murah)
P/E, PBV → paling basic; cocok buat value/cigarbutt yang merupakan andalan khazanah budaya investasi nusantara.
PEG Ratio (1yr/3yr) → valuasi relatif growth; cocok buat growth play.
EV/EBITDA, EV/EBIT → bandingin antar perusahaan beda struktur utang; cocok buat capex-heavy & industrials.
EV/FCF → harga lawan cash nyata; cocok buat steady cash cow.
P/S, EV/Revenue → valuasi awal growth belum untung; cocok buat early-stage growth/tech/FMCG.
P/OCF, P/Tangible BV → cek fairness harga; cocok buat asset-heavy / cash-rich.
Dividend Yield & Payout → income; cocok buat dividend play.

💰 Profitability & Margin (seberapa untung)
Gross Margin → pricing power; cocok buat moat check (FMCG, brand).
Operating Margin → efisiensi; cocok buat ops quality.
Net Margin → bottom line; cocok buat all sectors.
EBITDA Margin → proxy cash ops; cocok buat comparasi cepat.
Cash Conversion Margin (OCF/NI) → kualitas laba; cocok buat fraud check.
Incremental Margin → growth → profit; cocok buat scalability test.

🔑 Return on Capital (efisiensi modal)
ROE, ROA → return modal dasar; cocok buat value & bank/finance.
ROIC, CROIC → kualitas compounder; cocok buat long-term compounder.
ROCE → cek efisiensi modal dipakai; cocok buat capital intensive.
ROIIC → return dari growth baru; cocok buat high growth test.

📈 Growth & Sustainability
Revenue CAGR, EPS CAGR, FCF CAGR → kecepatan growth; cocok buat growth investor.
Organic vs Inorganic → bedain growth asli vs akuisisi; cocok buat compounder hunter.
Unit Economics → profit per toko/user; cocok buat consumer/tech.
Retention/Churn → loyalitas; cocok buat SaaS, consumer.
Reinvestment Rate & SGR → seberapa sehat growth bisa sustain; cocok buat LT compounder.

🏦 Balance Sheet Strength (daya tahan)
DER, Net Debt/EBITDA → cek leverage; cocok buat risk mgmt.
Current, Quick, Cash Ratio → likuiditas jangka pendek; cocok buat defensive check.
Altman Z-Score, Interest Coverage → bankruptcy risk; cocok buat cyclical & industrials.
Working Capital Ratio → sehatnya operasi; cocok buat manufacturing.

💵 Cash Flow & Allocation
OCF/NI → kualitas earnings; cocok buat fraud detection.
Capex/Revenue, Capex/OCF → intensitas investasi; cocok buat infra, manufaktur.
FCF Yield → return kas vs harga; cocok buat income/value.
Dividend Coverage, Buyback Yield → capital return; cocok buat dividend & buyback play.

⚖️ Risk-Adjusted
Sharpe/Sortino, Beta, Volatility → risiko vs return; cocok buat portfolio mgmt.
VaR, Scenario Analysis → worst-case check; cocok buat risk-sensitive investor.

🛡 Moat & Intangibles

Brand Power (via margin) → kekuatan brand; cocok buat FMCG, consumer.
Market Share Growth → kompetitif; cocok buat consumer, tech.
R&D/Sales → inovasi; cocok buat tech/pharma.
S&M/Sales → efisiensi growth; cocok buat consumer tech.
Revenue/Employee → produktivitas; cocok buat scalability check.

🎯 Advanced Quality
EVA, MVA, CFROI → value creation beyond cost of capital; cocok buat quality compounder.
NOPAT/IC → efisiensi modal real; cocok buat deep dive analysis.
Earnings Quality (Accruals/NI) → apakah laba beneran; cocok buat fraud check.
Piotroski F-Score → screen value+quality; cocok buat value investor.
Beneish M-Score → deteksi manipulasi laba; cocok buat fraud detection.

$ADES $CMRY

Cuman semua itu omong kosong karena foreign flow dan bandarmologi paling benar.