46 CHAPTER 3 RESEARCH METHODOLOGY In this thesis, using mixed method research. First is qualitative analysis by doing discussion with stakeholder, and document analysis. The external and internal analysis produce from the qualitative analysis. Second is quantitative analysis by calculating company valuation and financial health metric of the company. The share price and company financial condition will produce based on quantitative analysis. 3.1 Research Design According to Creswell (2014), research design refers to the structured plan and methodology used to conduct research. It encompasses the overall strategy that a researcher will follow in conducting a study. This design defines how to collect, measure, and analyze data Research design refers to the structured plan and methodology used to conduct research. It encompasses the overall strategy that a researcher will follow in conducting a study. This design defines how to collect, measure, and analyze data. 47 This research starts with the identification of the business issue through interviews with company stakeholders. The process continues by identifying all relevant factors that can impact company growth from business, economic, and industry analysis, then analyzing the application of financial and valuation methodologies for ascertaining the company's valuation. Following this framework, the study explores the company's situation using external and internal analysis, then moves on to scrutinizing the company's intrinsic value using financial ratios, and ultimately determines the company's valuation using valuation methodologies. The result of this research will provide a company Figure 9. Research Design Diagram (Source: Author Analysis) 48 valuation number and offer a recommendation regarding the total number of shares that should be issued by company to expand their business. 3.2 Data Collection Method Based on mixed method research, this study using primary and secondary data to collect the data. Primary data were collected through interview and discussion with stakeholders, the goal is to understand the company structure, product, challenge, and other topic related to this study. The stakeholder that has been interviewed and discuss are the Chief Financial Officer and the Project Manager. Secondary data was collected through company internal document, such as financial reports, sales projection report, product catalog, and using external source as literature review. 3.3 Data Analysis Method Mixed method research combine between qualitative analysis and quantitative analysis are used on this study. 3.3.1 Qualitative Analysis The data source of this analysis come from combination of primary data and secondary data. The primary data which are the stakeholder interview and discussion, is used to explore the business issue and decide the research question for this study. The secondary data which are internal document and external source is used to analyze the business issue, the external and internal factor. The result of this analysis is the external and internal factor that can drive company growth, valuation, and financial health. 3.3.2 Quantitative Analysis In the quantitative analysis, data were sourced from the company's financial reports spanning 2017 to 2021. The primary objective of this analysis is to reveal and elaborate the financial health of the company and to estimate the firm's valuation accurately. Various financial ratios, including those assessing liability, profitability, and debt, were employed as quantitative measures to determine the company's current 49 financial health. Valuation techniques such as Net Asset Value (NAV) and Discounted Free Cash Flow to Firm (DCF) are used to identify the share price of the company. Additionally, some sensitivity analysis was conducted to provide recommendations for enhancing the company's financial health and valuation..