The document contains DuPont formula analysis results for three Indonesian steel companies - PT Krakatau Steel, PT Gunawan Dianjaya Steel, and PT Jaya Pari Steel - for the year ending in 2010. PT Gunawan Dianjaya Steel had the best performance with a return on equity of 26%, return on assets of 16%, and an IBCC score of 20. PT Krakatau Steel's return on equity was 11% and return on assets was 6%, with an IBCC score of 14. PT Jaya Pari Steel had the lowest returns and score, with a return on equity of 9%, return on assets of 7%, and IBCC score of 12.

1. 


2. 
DuPont Formula Analysis for PT Krakatau Steel for the
year ended in 2010:
COMPONENT
FORMULA
RESULT
Profit Margin Ratio
Net Profit / Revenue
0.07
Total Asset Turnover
Revenue / Asset
0.85
Equity Multiplier
Asset / Equity
1.90
RO
A
Net Profit/Revenue x Revenue/Asset
RO
E
Profit Margin Ratio x Total Asset Turnover x Equity
Multiplier
IBCC SCORING
0.07 x 0.85 = 6%
0.07 x 0.85 x 1.90 =
11%
14

3. 
DuPont Formula Analysis for PT Gunawan Dianjaya
Steel for the year ended in 2010:
COMPONENT
FORMULA
RESULT
Profit Margin Ratio
Net Profit / Revenue
0.10
Total Asset Turnover
Revenue / Asset
1.59
Equity Multiplier
Asset / Equity
1.64
RO
A
Net Profit/Revenue x Revenue/Asset
RO
E
Profit Margin Ratio x Total Asset Turnover x Equity
Multiplier
IBCC SCORING
0.10 x 1.59 = 16%
0.10 x 1.59 x 1.64 =
26%
20

4. 
DuPont Formula Analysis for PT Jaya Pari Steel for the
year ended in 2010:
COMPONENT
FORMULA
RESULT
Profit Margin Ratio
Net Profit / Revenue
0.07
Total Asset Turnover
Revenue / Asset
1.04
Equity Multiplier
Asset / Equity
1.37
RO
A
Net Profit/Revenue x Revenue/Asset
0.07 x 1.04 = 7%
RO
E
Profit Margin Ratio x Total Asset Turnover x Equity
Multiplier
0.07 x 1.04 x 1.37 = 9%
IBCC SCORING
12

5. 

Based on DuPont Formula Analysis, relate to IBCC
scoring, among those three companies mentioned on
previous slide, PT Gunawan Dianjaya Steel has the best
performance.
It ROE is 26% which means that the company could
generate profit of Rp 26 from each of Rp 100
shareholders’ equity in the company