digilib@itb.ac.id +62 812 2508 8800

This research will determine the value of X Securities with three valuation approaches; Book Value approach, Discounted Cash Flow method, and Market Approach. This research will describe how each approach works on valuating a financial service firm. As a result of this research the estimated fair value of PT X Securities based on the Book Value approach, Discounted Cash Flow method (optimistic, most-likely, and pessimistic scenario), and Market Approach is within the range of IDR 2,574 as the lowest and IDR 12,211 as the highest.