Nowadays, education technology disturbs the traditional learning process to encourage learners to learn anywhere and anytime. The majority of education technology companies were founded in the past six years. The education technology company indicated the profit when operating for around five years. PT Berau Coal developed a learning management system called Sintesis+. Sintesis+ provides a learning experience with two-channel, web-based and apps-based which covered 21,000 users in 2020. Author uses DCF parameter analysis; NPV of IDR 2.631 billion, IRR of 38%, and Payback Period of 2,42 years of operation, Sintesis+ have a great chance to compete with other education technology companies. Based on most sensitive variables that affecting NPV are employee salary, discount rate, and tax rate.

Keywords: DCF, Learning Management System, PT Berau Coal, Sintesis

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Mr. Cahyo Andrianto