Investment Feasibility Analysis of PT. Waskita Karya Tbk using NPV, IRR, and Payback Period Methods

This study aims to assess the investment feasibility of PT Waskita Karya Tbk for the 2025–2029 period using three main financial evaluation methods, namely Net Present Value (NPV), Internal Rate of Return (IRR), and Payback Period (PP). The research employs secondary data obtained from financial statements, annual reports, and projected cash flows of the company’s infrastructure projects. The results show that the investment is financially feasible, indicated by a positive NPV of Rp 29.078 billion, an IRR of 19.76 percent which exceeds the discount rate of 10 percent, and a Payback Period of 3.25 years, shorter than the project duration of five years. Sensitivity analysis reveals that the project remains viable even when the discount rate increases to 14 percent or when cash flows fluctuate by ±10 percent. These findings imply that the planned investment has the potential to generate added value for the company and contribute to improving financial performance. However, to ensure long-term feasibility, the company must implement effective risk mitigation strategies, particularly regarding cost overruns, delays in project execution, fluctuations in cash flows, and uncertainties in macroeconomic conditions. Proper financial planning, monitoring, and evaluation are essential to maintain project sustainability and protect the company from potential financial instability. This research is expected to be a useful reference for companies, investors, and academics in evaluating infrastructure investment decisions in the construction sector.