scholarly journals ANALISIS PERBANDINGAN KINERJA KEUANGAN DAN HUBUNGANNYA DENGAN HARGA PASAR SAHAM PADA PT. CIPUTRA DEVELOMPENT Tbk. DAN PT LIPPO KARAWACI Tbk. PERIODE 2001-2005

2017 ◽  
Vol 4 (1) ◽  
Author(s):  
Edward Edward
Keyword(s):  
Activity Ratio ◽  
Financial Ratios ◽  
Company Performance ◽  
Z Score ◽  
Financial Ratio ◽  
Leverage Ratio ◽  
Financial Report ◽  
Score Analysis ◽  
Z Scores ◽  
Important Input

<p class="Pendahuluan">Financial report is an important tool for the user to appraise company performance. In company’s financial report we usually use some ratios; those ratios are liquidity ratio, leverage ratio, activity ratio, and profitability ratio. Beside those financial ratios, in this research the journalist added Z-score analysis to find out bankruptcy possibility. Higher Z-Scores has shown us the lower bankruptcy possibilty.</p><p class="Pendahuluan">The writers choose PT Ciputra Development Tbk. and PT Lippo Karawaci Tbk. to observe because both companies have a lot of experience in property industry. From the research, we found out that PT Lippo Karawaci has a better financial ratio and Z-Scores than PT. Ciputra Development Tbk. and for the company, the result of the research could be important input to company’s strategic planning.</p><p class="Pendahuluan"> </p><p class="Pendahuluan">Keyword : Financial Report, financial ratios, Z-Scores</p>

scholarly journals ANALISIS RASIO KEUANGAN PADA RUMAH MAKAN DARISA DI KOTA PALU

2020 ◽  
Vol 5 (2) ◽  
pp. 97-109
Author(s):  
Ardiansyah Ardiansyah ◽  
Vitayanti Fattah ◽  
Cici Riyanti K Bidin
Keyword(s):  
Activity Ratio ◽  
Company Performance ◽  
Financial Ratio ◽  
Financial Report

In order to support competition in company, needed system of record in manage company financial to understand how far level of company performance in control its financial. From the financial report, here, we can see the level of financial ratio used analysis of ratio. The issue used is How financial ratio of Darisa Restaurant in Palu which is measured Liquidity ratio, solvability ratio, activity ratio and rentability ratio. Ratio of Liquidity (Quick Ratio) in last 5 years is fluctuating. In 2012 until 2016, shown that Darisa Restaurant still afford to pay his current liabilities. On this situation, Darisa Restaurant financial, seen from Quick Ratio is liquid. In Ratio of Solvability from Darisa Restaurant if measured from total of debt divided total of assets, draws company condition in 2012, 2013, and 2014 was bad. Meanwhile, in 2016 and 2015 company was good. If the ratio is high,it means funding with debt is increased. So, it's harder for company to accept new debt because worried that company unaffordable to cover the debt with its assets.  Untuk menunjang persaingan-persaingan pada perusahaan maka diperlukan suatu sistem pencatatan dalam mengelola keuangan perusahaan agar dapat mengetahui sejauh mana tingkat keberhasilan perusahaan dalam mengelola keuanggannya. Laporan keuangan tersebut disini bisa melihat tingkat rasio keuangan dengan menggunakan analisis rasio. Masalah yang diambil adalah bagaimana Rasio Keuangan Rumah Makan Darisa di Kota Palu yang diukur menggunakan rasio likuiditas, rasio solvabilitas, rasio aktivitas dan rasio rentabilitas. Metode yang digunakan dalam peneliatan ini adalah observasi, wawancara, dokumentasi. Rasio Likuiditas (Quick Rasio) selama lima tahun terakhir mengalami fluktuatif. Pada tahun 2012 sampai tahun 2016 memperlihatkan Rumah Makan Darisa masih mampu untuk mengembalikan hutang lancarnya. Keadaan seperti ini keuangan Rumah Makan Darisa dilihat dari segi quick rasionya berada dalam keadaan likuid. Rasio Solvabilitas dari Rumah Makan Darisa kalau diukur dari total hutang dibagi total aktiva menggambarkan kondisi perusahaan pada tahun 2012, 2013 dan 2014 berada dalam kondisi kurang baik. Sedangan pada tahun 2016 dan 2015 perusahaan berada dalam kondisi baik.Apabila rasionya tinggi, artinyapendanaan dengan hutang semakin banyak. Maka semakin sulit bagi perusahaan untuk memperoleh tambahan pinjaman karena dikhawatirkan perusahaan tidak mampu menutupi hutang-hutangnya dengan aset yang dimiliki.

Thomas Cook(ed): using Altman's z-score analysis to examine predictors of financial bankruptcy in tourism and hospitality businesses

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Edmund Goh ◽  
Saiyidi Mat Roni ◽  
Deepa Bannigidadmath
Keyword(s):  
Bankruptcy Prediction ◽  
Warning Signs ◽  
Financial Ratios ◽  
Financial History ◽  
Content Type ◽  
Financial Ratio ◽  
Academic Paper ◽  
Score Analysis ◽  
Hospitality Firms ◽  
Tourism And Hospitality

PurposeFinancial bankruptcy is inevitable in the tourism and hospitality ecosystem. Despite the pertinence of tourism and hospitality businesses going into bankruptcy, limited studies have investigated the early warning signs and likelihood of a financial bankruptcy occurring in tourism and hospitality firms. This study examined the predictive value of financial ratios as potential indicators in predicting bankruptcy among tourism and hospitality firms.Design/methodology/approachAltman's z-score bankruptcy prediction model was applied through five key financial ratios to predict bankruptcy of the Thomas Cook Travel Group over a ten year period (2008–2018).FindingsThe key findings of this study strongly suggest that besides the size and location of the firm, financial ratios are reliable predictors and play a pivotal role in predicting the bankruptcy of a tourism and hospitality business.Practical implicationsThe paper provides key stakeholders to adopt checks and balances to identify financial distressed tourism firms through financial ratios.Originality/valueThis is the first academic paper to inspect the financial history of Thomas Cook Travel Group in a financial ratio context, particularly following the bankruptcy of the firm in 2019.

scholarly journals Financial Ratio Analysis to Assess Financial Performance of the Hotel Industry

2021 ◽  
Vol 5 (3) ◽  
pp. 346
Author(s):  
Tjeng Gloria Santoso ◽  
Supatmi Supatmi
Keyword(s):  
Financial Performance ◽  
Activity Ratio ◽  
Stock Exchange ◽  
Research Result ◽  
Hotel Industry ◽  
Analysis Tool ◽  
Current Ratio ◽  
Financial Ratio ◽  
Leverage Ratio ◽  
Hotel Performance

Analysis of financial performance can be implemented to all companies, including to hotel industries. For the last few years, there are many issues that income of hotel industry increases because of the soaring numbers of foreign and domestic tourists in Indonesia.  This study aims to analyze financial ratio to assess the financial performance of hotel industry in 2015-2018. Research sample were 12 companies of 35 hotel industries that were listed in Indonesian Stock Exchange in 2015-2018. Analysis tool used in this research were liquidity ratio, profitability ratio, activity ratio, leverage ratio, and operational ratio. Research result showed good ratios; they were liquidity ratio that was indicated by current ratio, profitability ratio that was pointed by net profit margin, return on asset, and return on equity, also paid occupancy percentage on activity ratio. While the not good ratio, which was activity ratio was pointed by total asset turnover, then leverage ratio by equity multiplier, debt to asset ratio, and debt to equity ratio, also operational ratio which was showed through average room rate and food and beverage cost. Research result of hotel performance in 2015-2018 which is based on financial ratio, they are liquidity, activity, profitability, leverage, and operational, describes that hotel performance is fluctuated. Generally seen, a good ratio in this study is the liquidity ratio that is pointed by current ratio, then profitability ratio that are demonstrated by NPM, ROA, and ROE, also paid occupancy percentage in activity ratio.

scholarly journals IPTEKS PENGUKURAN KINERJA KEUANGAN PADA PT. PLN (PERSERO) WILAYAH SULUTTENGGO

2018 ◽  
Vol 2 (02) ◽  
Author(s):  
Regina F. Pinontoan ◽  
Natalia Y. T. Gerungai
Keyword(s):  
Financial Performance ◽  
Balance Sheet ◽  
Financial Statements ◽  
Financial Statement ◽  
Financial Ratios ◽  
Ratio Analysis ◽  
Financial Ratio ◽  
Leverage Ratio ◽  
Financial Ratio Analysis ◽  
A Company

The measurement of financial performance based solely on balance sheet financial statements and profit and loss is able to provide information on the feasibility of a company on the obligations of external parties and also assets owned by the company. From the results of financial statement analysis using financial ratio analysis of PT. PLN (Persero)Region  Sulutttenggo can evaluate the financial performance of companies that show unfavorable conditions where the value of the liquidity ratio is less stable and even decreases. Whereas the results of the calculation of leverage ratio and profitability ratio show fairly good conditions. Thus, the writer suggest that the management always evaluate in improving the company's financial performance.Keywords : financial statement, financial performance, financial ratios

scholarly journals Analisis Kinerja Keuangan Perusahaan pada PT. Japfa Comfeed Indonesia Tbk

2020 ◽  
Vol 5 (2) ◽  
pp. 203
Author(s):  
Jezzyca Ria Paramita ◽  
Iwan Eka Putra ◽  
Abd Halim ◽  
Ermaini Ermaini
Keyword(s):  
Financial Performance ◽  
Secondary Data ◽  
Financial Statements ◽  
Bankruptcy Prediction ◽  
Financial Ratios ◽  
Z Score ◽  
Financial Ratio ◽  
Financial Condition ◽  
Score Method ◽  
Solvency Ratio

Financial performance is an overview of how a company's financial condition is. To assess financial performance is used with a benchmark commonly called financial ratios. Financial ratios used are usually such as profitability ratio, liquidity ratio and solvency ratio. in addition to using financial ratios, the company can also use the Altman Z-Score method to assess the level of the company's bankruptcy prediction. This research aims to find out the financial performance of PT Japfa Comfeed Indonesia Tbk as well as the company's future bankruptcy predictions. the research method used is quantitative analysis based on secondary data taken from the Financial Statements of PT Japfa Comfeed Indonesia Tbk for the period 2014 to 2019. The results of the study are measurements of the company's financial ratio showing sufficient value while measurements using the company's Altman Z-Score method show healthy value which means it does not go into bankruptcy.

scholarly journals Predicting Financial Stability of Select BSE Companies Revisiting Altman Z Score

2014 ◽  
Vol 26 ◽  
pp. 92-105 ◽  
Author(s):  
Vineet Chouhan ◽  
Bibhas Chandra ◽  
Shubham Goswami
Keyword(s):  
Financial Distress ◽  
Financial Stability ◽  
Financial Analysis ◽  
Optimal Solution ◽  
Capital Adequacy ◽  
Financial Ratios ◽  
Z Score ◽  
Regulatory Capital ◽  
Explanatory Variables ◽  
Z Scores

In the era of globalization, prediction of financial distress is of interest not only to managers but also to external stakeholders of a company. The stakeholders are continuously seeking the optimal solution for performance forecasting, as a way to rationalize the decision-making process. The recent past shows that financial stability of companies is at the stake. Stockholders, Managers, Creditor and employees of the business are always concerned about financial stability of the companies. The most frequently tool for financial analysis is financial ratios. However, financial ratios are no-longer proved appropriate for „Stockholders‟ equity position and creditors‟ claims. Stakeholder‟s have concerns about the consequences of financial distress for companies, and controls of capital adequacy through the regulatory capital requirement (Mingo, 2000). This shared interest creates persistent investigations and continuing attempts to answer an incessant question that how financial distress can be predicted, or what reveals the credit risk of firms. For this purpose most commonly used tool is Altman Z score, but due to nature of the explanatory variables, financial distress prediction research has not reached an unequivocal conclusion. The primary goal of this paper is to analyze and reexamine the Altman Z score. In order to facilitate the current research, various ratios were taken from Altman‟s Z score. To fulfill our objective Z score ratios were used to divide sample firms into healthy and unstable among BSE-30 companies. First the Z score is calculated for 10 companies selected for this purpose for a period of 5 years each. And then it is divided as per z scores, later the significant in the changes in the ratio is calculated with the help of One sample Komogrov-Smirnow test, which resulted that the change in the z scores is not significant in case of all the companies.

scholarly journals Aplikasi Data Mining Pada Analisis Financial Distress Model Altman z-score Untuk Memprediksi Potensi Kebrangkutan Pada Industri Properti Go-Public Di Indonesia

Jurnal INFORM ◽  
2019 ◽  
Vol 4 (2) ◽  
Author(s):  
Billy Montolalu
Keyword(s):  
Financial Distress ◽  
Financial Management ◽  
Financial Statements ◽  
Gray Zone ◽  
Z Score ◽  
Financial Ratio ◽  
Financial Report ◽  
Industrial Operations ◽  
Report Data ◽  
Score Model

Early thought systems are needed in companies to overcome financial difficulties that can challenge industrial operations. Altman Z Score is one model that can be used to predict financial distress in a company by analyzing the company's financial statements. This research was conducted to analyze financial distress in property companies going public using the Altman Z Score model. In this model there are 5 financial ratio indicators that are used to predict financial distress. The financial report data used is the financial statements for 2015-2016 and there are 23 companies. The results of these calculations are then clustered with Fuzzy C-Means in two, namely safe zone and gray zone. Cluster validation testing uses the Silhouetee Index with a validation value of 0.9541 which indicates that the cluster process is valid. The results of this study indicate that there is one company that is included in the cluster gray zone, namely Intiland Development Tbk. Analysis of financial ratios found that the most influential is the variable X3 where the results of profits before tax are very small can affect payment of obligations. So it's easy to bring up financial distress conditions. And for those companies that have been in the gray zone condition, they are expected to be careful in financial management to anticipate financial distress.

scholarly journals FUNDAMENTAL EFFECT OF MICRO ECONOMICS ON STOCK PRICES IN THE JAKARTA ISLAMIC INDEX

2021 ◽  
Vol 2 (1) ◽  
pp. 66
Author(s):  
Lalu Ahmad Ramadani
Keyword(s):  
Linear Regression ◽  
Multiple Linear Regression ◽  
Significant Influence ◽  
Stock Prices ◽  
Activity Ratio ◽  
Agency Problems ◽  
Financial Ratios ◽  
Leverage Ratio ◽  
Positive Effect

This study aims to examine the effect of microeconomic fundamentals as proxied by financial ratios to stock prices in the Jakarta Islamic Index (JII) group. The population in this study were companies that were consistently incorporated in JII for the period 2011-2015 and were analyzed using multiple linear regression. The results of this study indicate that there are three variables that have a significant influence on Islamic stock prices in the JII group, namely the market ratio proxied by EPS, the leverage ratio proxied by DAR and the activity ratio proxied by TATO, while the profitability ratio as proxied by ROA and liquidity ratio as proxied by CR. partially does not affect the price of sharia shares at JII. However, simultaneously effect. This indicates that the three proxies that have a positive effect have a relationship with agency problems, namely between the principal (shareholder) and the agent (management).

scholarly journals Analisis Prediksi Risiko Kebangkrutan Berdasarkan Nilai Aset dan Liabilitas Menggunakan Metode Altman Z-Score: Studi Kasus Jiwasraya (Periode 2014, 2015, 2016, 2018, dan 2019)

2021 ◽  
Vol 5 (1) ◽  
pp. 25
Author(s):  
Roufan Hirqoni Araniri ◽  
Angelita Buulolo ◽  
Tarikh Luthfi Simanjuntak ◽  
Jordan Ahmad Yasir ◽  
Dewi Hanggraeni
Keyword(s):  
Financial Distress ◽  
Financial Statements ◽  
Analysis Tool ◽  
Z Score ◽  
Bankruptcy Risk ◽  
Financial Report ◽  
Grey Area ◽  
Score Analysis ◽  
Edge Based

Jiwasraya is on the incisive edge. Based on 2019 Jiwasraya financial report, Jiwasraya’s ratio of solvency reached -18886.10% as of December 2019. By using the value of Jiwasraya's assets and liabilities based on the Jiwasraya Financial Statements for five periods (2014, 2015, 2016, 2018, 2019), the author used the Altman Z-Score analysis tool to measure the risk of Jiwasraya's bankruptcy. From the calculations using the Altman Z-Score, it can be concluded that Jiwasraya's Altman Z-Score is in the category of bankruptcy risk in 2014, 2018 and 2019 periods, while in 2015 and 2016, Jiwasraya's Altman Z-Score is in Grey area or it can be interpreted that Jiwasraya experienced financial distress in the 2015 and 2016 periods while there is still a possibility to avoid potential bankruptcy and the possibility of bankruptcy with the same magnitude.Keywords: Jiwasraya, Altman Z-score, kebangkrutan, Aset, Liabilitas.

scholarly journals PENGARUH KONDISI MODAL KERJA TERHADAP PROFITABILITAS (Studi Empiris : Pada Perusahaan Manufaktur Yang Terdaftar pada BEI Katagori Saham LQ 45 Periode 2007 Sampai Dengan 2011 )

2018 ◽  
Vol 9 (2) ◽  
pp. 244-254
Author(s):  
Hermansyah Hermansyah
Keyword(s):  
Stock Exchange ◽  
Financial Ratios ◽  
Working Capital ◽  
Current Ratio ◽  
Financial Ratio ◽  
Financial Report ◽  
Turnover Ratio ◽  
Return Of Investment ◽  
Exchange Data

The purpose of this research is empirically to examine the effect of working capital which is based on financial ratio and will give influence partially or simultaneously to the manufacturing stocks of LQ45 at Indonesia Stock Exchange. Financial ratios which are used to determine the condition of working capital are current ratio, working capital turnover ratio, current assets to total assets ratio and current liabilities to total assets ratio which are used as dependent variable is return on investment.The data research collected from 10 manufacture’s company in LQ45 stocks category and listed in Indonesia Stock Exchange. Data collected from financial report from year ended 2007 to 2011. The final results shows that current ratio, working capital turnover ratio, current assets to total assets ratio, and current liabilities to total assets ratio are influence simultaneously to return of investment at the level of alpha (a) = 0.05 (sig 0.071)

Sign in / Sign up

Export Citation Format

Share Document