<span class="fontstyle01"><span lang="EN-US">The </span></span><span class="fontstyle21"><span lang="EN-US">aim of this study is to calculate the fair value of stocks of companies engaged in sea transportation listed on the Indonesia Stock Exchange using the </span></span><span class="fontstyle31"><span lang="EN-US">Discounted Cash Flow Valuation </span></span><span class="fontstyle21"><span lang="EN-US">method with the </span></span><span class="fontstyle31"><span lang="EN-US">Free Cash Flow to Firm </span></span><span class="fontstyle21"><span lang="EN-US">approach and then compared with the </span></span><span class="fontstyle31"><span lang="EN-US">Relative Valuation</span></span><span class="fontstyle21"><span lang="EN-US">. Secondary data from the financial statements of the company in the 2013-2020 period were used which were then projected for the 2021-2025 period. The research results indicate that the prices of BULL, HITS, SMDR and TMAS were on the </span></span><span class="fontstyle31"><span lang="EN-US">undervalued </span></span><span class="fontstyle21"><span lang="EN-US">market to the fair value of the stocks for pessimistic, moderate, and optimistic scenarios when using the DCF method with the FCFF approach. The results of the </span></span><span class="fontstyle31"><span lang="EN-US">Relative Valuation </span></span><span class="fontstyle21"><span lang="EN-US">method showed that PER BULL was </span></span><span class="fontstyle31"><span lang="EN-US">undervalued </span></span><span class="fontstyle21"><span lang="EN-US">for the pessimistic scenario and </span></span><span class="fontstyle31"><span lang="EN-US">overvalued </span></span><span class="fontstyle21"><span lang="EN-US">for the moderate and pessimistic scenario regarding the industry PER value, while the PER values for HITS, SMDR, and TMAS companies were </span></span><span class="fontstyle31"><span lang="EN-US">undervalued </span></span><span class="fontstyle21"><span lang="EN-US">for pessimistic, moderate and pessimistic scenarios regarding the industry PER value. Meanwhile, the PBV value indicated that TMAS company had an </span></span><span class="fontstyle31"><span lang="EN-US">undervalued </span></span><span class="fontstyle21"><span lang="EN-US">PBV value for the pessimistic scenario, </span></span><span class="fontstyle31"><span lang="EN-US">overvalued </span></span><span class="fontstyle21"><span lang="EN-US">for the moderate scenario and optimistic about the industry's PBV value. Then the PBV values for BULL, HITS, and SMDR companies were </span></span><span class="fontstyle31"><span lang="EN-US">undervalued </span></span><span class="fontstyle21"><span lang="EN-US">for pessimistic, moderate, and optimistic scenarios of the industry's PBV value.</span></span>