ANALISA KESEHATAN KEUANGAN PERUSAHAAN UNTUK MEMPREDIKSI KEBANGKRUTAN PERUSAHAAN DENGAN MENGGUNAKAN METODE ALTMAN (STUDI KASUS PADA PERUSAHAAN MANUFAKTUR SEKTOR KOMPONEN OTOMOTIF YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2011 – 2015)

2019 ◽  
Vol 13 (2) ◽  
pp. 55
Author(s):  
Indar Khaerunnisa ◽  
Edy Cahyadi
Keyword(s):  
Motor Vehicle ◽  
Stock Exchange ◽  
Secondary Data ◽  
Z Score ◽  
Financial Ratio ◽  
Average Value ◽  
Automotive Components ◽  
Grey Area ◽  
Financial Ratio Analysis ◽  
Year 2013

The Indonesian government has set the motor vehicle industry as one of the priority industries of the national interest, economic growth, and increased productivity. In order for the survival of a company is maintained, then the management should be able to maintain or even more spur increased performance. Various analyzes were developed to predict the beginning of the bankruptcy of the company. One analysis is widely used today is the analysis of Altman Z-Score, which this analysis refers to the financial ratios of the company. The purpose of this study was to analyze the bankruptcy of the automotive components companies that go public in Indonesia Stock Exchange year period 2011–2015. This study used a sample of four companies from the automotive components sector. Source of data is done by using secondary data. The data is processed by the method of the Z-score formula Z = 1,2X1 + 1,4X2 + 3,3X3 + 0,6X4 + 0,999X5. With the description of Z < 1,8 the company categorized into unhealthy/will be bankrupt, the value Z 1,8 < 2,99 the company is considered to be in the uncertain/grey area and the value of Z > 2,99 then the company is in a very healthy. In general, the results of these studies indicate that the four automtive components companies namely PT Astra Otoparts year 2011 value of Z = 14,67 year 2012 value of Z = 10,88 year 2013 value of Z = 13,90 year 2014 value of Z = 10,54 year 2015 value of Z = 4,94, PT Gajah Tunggal year 2011 value of Z = 5,72 year 2012 value of Z = 4,75 year 2013 value of Z = 3,10 year 2014 value of Z = 2,79 year 2015 value of Z = 1,58 and the average value of 2011-2015 periode Z = 3,59, PT Goodyear Indonesia year 2011 value of Z = 2,07 year 2012 value of Z = 2,44 year 2013 value of Z = 2,57 year 2014 value of Z = 2,02 year 2015 value of Z = 2,76, PT Indomobil Sukses Internasional year 2011 value of Z = 6,19 year 2012 value of Z = 3,99 year 2013 value of Z = 3,17 year 2014 value of Z = 2,59 year 2015 value of Z = 1,74. The average value 2011-2015 period showed 3 companies are in very healthy state and 1 company is in the uncertain/grey area. Keywords: Financial Ratio Analysis, Analysis of bankruptcy, Altman Z-Score Analysis, Automotive Components Company, Go Public.

scholarly journals RASIO KEUANGAN UNTUK MENGUKUR KINERJA PERUSAHAAN TELEKOMUNIKASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA TAHUN 2017-2019

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Arniyatun Febi Hastuti ◽  
Istiatin Istiatin ◽  
Fithri Setya Marwati
Keyword(s):  
Financial Performance ◽  
Quantitative Research ◽  
Stock Exchange ◽  
Good Condition ◽  
Secondary Data ◽  
Poor Performance ◽  
Business World ◽  
Financial Ratio ◽  
Financial Ratio Analysis ◽  
Solvency Ratio

Competition in the business world is increasingly competitive, so that companies are required to be able to control business activities better than competing companies. The purpose of this study is to determine the financial performance of telecommunications companies listed on the Indonesia Stock Exchange in terms of financial ratio analysis. The financial ratios used are liquidity ratios, solvability ratio, and profitability ratio. This type of research is qualitative and quantitative research. The research data used is secondary data obtained from the Indonesia Stock Exchange. The results of this study can be seen from the calculation of the liquidity ratio, solvency ratio, and profitability ratio at PT Indosat Tbk, PT XL Axiata Tbk, and PT Smartfren Tbk from 2017-2019 showing poor performance, while the solvency ratio and Net Profit Margin at PT Telekomunikasi Indonesia Tbk is already in good condition. Keywords: Financial Performance; Liquidity; Solvability; Profitability.

scholarly journals ANALISIS LAPORAN KEUANGAN SEBAGAI DASAR PENILAIAN KINERJA PADA PERUSAHAAN SEMEN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2015-2016

2018 ◽  
Vol 14 (1) ◽  
Author(s):  
Melisa Patricia Novelina Pasiakan ◽  
Stanly W. Alexander ◽  
Sonny Pangerapan
Keyword(s):  
Financial Performance ◽  
Asset Management ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Secondary Data ◽  
Ratio Analysis ◽  
Financial Ratio ◽  
Financial Ratio Analysis ◽  
Activity Ratios ◽  
A Company

Company's financial performance can be known from the aspect of financial ratios, such as Liquidity, Solvency, Profitability, and Activity ratios. The development of a company, can be seen and can be compared through the company's financial performance. This is certainly useful for investors, creditors, and owners to make profitable investment decisions. This study aims to assess the financial performance of PT. Semen Indonesia Tbk, PT. Indocement Tunggal PrakasaTbk, and PT HolcimIndonesia by using financial ratio analysis. This study uses secondary data from Indonesia Stock Exchange. The result of research shows there are differences of financial performance between PT. Semen Indonesia Tbk, PT. Indocement Tunggal PrakasaTbk, and PT Holcim Indonesia. Suggestions for the Management Party should further improve the performance of total asset management, so that efficient corporate finance will be better.Keywords: Liquidity, Solvency, Profitability, Activity, and Financial Performance

scholarly journals ANALISIS PREDIKSI TINGKAT KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE DAN ZMIJEWSKI PADA PT BAKRIE TELECOM TBK PERIODE 2015-2017

2019 ◽  
Vol 3 (01) ◽  
Author(s):  
Suci Ariyani ◽  
Djumali Djumali ◽  
Ida Aryati
Keyword(s):  
Data Analysis ◽  
Financial Distress ◽  
Stock Exchange ◽  
Secondary Data ◽  
Z Score ◽  
Analysis Model ◽  
Analysis Techniques ◽  
Financial Condition ◽  
Grey Area ◽  
Telecommunication Companies

The purpose of this research is to know financial condition of Bakrie Telecom Tbk company using Altman and Zmijewski's analysis model period 2015-2017, during the period so its be able to predict financial distress happened inside the company. The data used to this research is secondary data, with population telecommunication companies go public enrolled in the Indonesia Stock Exchange (BEI) period 2015-2017. Data analysis techniques that used is Altman and Zmijewski's dicriminant analysis. The Altman's analysis model classified into three company categories, which are company that is in broken condition, grey area and not bankrupt/healthy. The Zmijewski's analysis model classified into two company categories, which are potentially bankrupt company and unpotentially bankrupt company/health. The results of the Bakrie Telecom Tbk company's financial distress analysis period of 2015-2017 used the Altman's model showed that company was not in bankrupt category/health .The results of the Zmijewski's analysis model showed in 2015 was not in bankrupt category/health category and in the year 2016-2017 was in the bankrupt category. Keywords: Bankruptcy , Altman , Zmijewski

scholarly journals Analisis Common Size dan Rasio Keuangan Perusahaan Sektor Industri Barang Konsumsi di BEI

2020 ◽  
Vol 2 (2) ◽  
pp. 32-46
Author(s):  
Trisa Inna Fitriyani ◽  
Zulkarnain Zulkarnain
Keyword(s):  
Research Method ◽  
Stock Exchange ◽  
Secondary Data ◽  
Financial Statements ◽  
Size Analysis ◽  
Ratio Analysis ◽  
Return On Equity ◽  
Financial Ratio ◽  
Financial Ratio Analysis ◽  
Library Research

This analysis is carried out aiming to see the performance of the consumer goods industry/ CGI sector listed on the Indonesia Stock Exchange (IDX) using common size analysis and financial ratio analysis. The research method used in this research is descriptive research method. The data used is secondary data, in the form of CGI sector financial statements for the period 2017-2018, which are published on the IDX website. The data used is the financial statements of 53 companies. The source of the theory is obtained through library research and similar research obtained from research journals. Financial ratio analysis used is the current ratio, quick ratio, debt to assets, debt to equity, total asset turnover, fixed asset ratio, gross profit margin, return on assets, and return on equity. The analysis shows an increase and a decrease, and a stable number for the results.

scholarly journals Kinerja Keuangan Dan Potensi Kebangkrutan Dari Perusahaan Transportasi Pelayaran Pada Tahun 2013-2017

2019 ◽  
Vol 2 (6) ◽  
Author(s):  
Aditya Budi Kurniawan Dan Carunia Mulya Firdausy
Keyword(s):  
Financial Performance ◽  
Financial Distress ◽  
Stock Exchange ◽  
Commodity Prices ◽  
Bankruptcy Prediction ◽  
Z Score ◽  
Financial Ratio ◽  
Grey Area ◽  
Score Method

The purpose of this study is to analyze the financial performance and potential bankruptcy of shipping transportation companies listed in the Indonesia Stock Exchange in 2013-2017. the method to estimate financial performance and bankruptcy prediction is by using  financial ratio & Altman Z-Score method. The results show that the majority of companies indicating there is a signs of improving financial performance when commodity prices begin to recover. In addition to the analysis of the Altman Z-score bankruptcy Based on the Z-score value of the 14 sample companies, in 2013 there were 5 companies in the healthy category (z-score> 2.60), however in 2016 this number decreased to 3 companies . Whereas for companies that are in the grey area category (z-score 1.1-2.60) in 2013 there were 4 companies and then declined to the remaining 3 companies in 2016. Whereas in 2013 company is in the category of financial distress (z-score <1 , 1) there are 5 companies and increased to 8 companies in 2016. In 2017 there was an increase in the companies in the healthy category & grey area each into 4 companies. While companies in the financial distress category are reduced to 6 companies. This means there are improvements in 2017.

scholarly journals PREDICTING BANKRUPTCY ON MINING COMPANIES USING ALTMAN Z-SCORE MODEL (EMPIRICAL STUDY ON MINING COMPANIES LISTED IN INDONESIAN STOCK EXCHANGE YEAR 2014-2015)

2019 ◽  
Vol 4 (3) ◽  
pp. 394-404
Author(s):  
Husnul Akhir ◽  
Islahuddin Islahuddin
Keyword(s):  
Stock Exchange ◽  
Good Condition ◽  
Secondary Data ◽  
Management Policy ◽  
Z Score ◽  
Mining Companies ◽  
Financial Condition ◽  
Grey Area ◽  
Analysis Technique ◽  
Score Model

The aim of this study is to calculate Altman Z-Score to predict the possibility of bankruptcy of mining companies listed in Indonesia stock exchange based on the information from the annual financial statementwith observation ranging from 2014 until 2015. The type of data used is secondary data. The study employed Altmant Z-Score calculation on a targeted population of 22 mining companies listed on the Indonesia Stock Exchange.The analysis technique used is the prediction model of bankruptcy Altman Z-score. Using the formula Z-Score = 1,2X1 + 1,4X2 + 3,3X3 + 0,6X4 + 1,0X5, where X1 represents the ratio of liquidity, X2 and X3 as profitability ratios, and X4 and X5 are activity ratios. Then with the use of Z-Score assessment criteria 2.99 categorized as a very healthy company.  1.81 Z-Score 2.99 is in the grey area so the possibility of rescue and possibly bankrupt is as great as it depends on the decision of the company management policy as the decision maker. Zscore 1.81 is categorized as a company that has very large financial difficulties and high risk so that the possibility of bankruptcy is very large. The results show that in 2014, 55% of mining companies predicted bankruptcy, 18% are in grey area and the remaining 27% of mining companies have a healthy financial condition. Then in 2015, 64% of mining companies are predicted to go bankrupt, 23% are in grey area and 13% of companies are in good condition or not bankrupt.

scholarly journals ANALISIS PERBANDINGAN KINERJA KEUANGAN PT. BANK BRI DAN PT. BANK MANDIRI PERIODE TAHUN 2010-2014 DENGAN MENGGUNAKAN RASIO KEUANGAN

2018 ◽  
Vol 13 (04) ◽  
Author(s):  
Sindie Margaretha Loupatty ◽  
Sifrid S. Pangemanan ◽  
Heince R. N. Wokas
Keyword(s):  
Financial Performance ◽  
Stock Exchange ◽  
Investment Decisions ◽  
Secondary Data ◽  
Ratio Analysis ◽  
Analysis Method ◽  
Financial Ratio ◽  
Financial Ratio Analysis ◽  
Independent Analysis ◽  
A Company

Company's financial performance can be seen from the aspect of financial ratios, such as LDR, CAR, ROA and ROE. The development of a company, can be seen and can be compared through the company's financial performance. This is certainly useful for investors, creditors, and owners to make profitable investment decisions. This study aims to determine the differences in financial performance of PT. Bank BRI Tbk (Bank BRI) and PT. Bank Mandiri Tbk (Bank Mandiri) by using financial ratio analysis. This research has used Independent analysis method of sample t-test. This research uses secondary data from Indonesia Stock Exchange. The result of the research shows that there are significant differences in financial performance between Bank BRI and Bank Mandiri. Suggestions for the Management should better improve the financial performance in order to attract the attention of investors, so as to maintain its predicate as a bank that has the greatest asset in Indonesia.Keywords : : LDR, CAR, ROA, and ROE

scholarly journals Analisis Dengan Menggunakan Metode Altman Z- Score, Springate (S-Score) Dan Zmijewski Sebagai Signaling Kebangkrutan Pada Perusahaan Manufaktur Sektor Otomotif Yang Terdaftar Di Bei Periode 2015-2017

2019 ◽  
Vol 2 (5) ◽  
Author(s):  
Agnes Mega Widiastuti
Keyword(s):  
Stock Exchange ◽  
Secondary Data ◽  
Automotive Sector ◽  
Manufacturing Companies ◽  
Z Score ◽  
Financial Report ◽  
Grey Area ◽  
Score Method ◽  
Method Analysis ◽  
Annual Financial Report

he purpose of this study was to determine the predictions of bankruptcy in the Automotive Sector Manufacturing Companies listed in Indonesia Stock Exchange for the period 2015-2017 based on the results of the Altman Z-score, Springate (S-score) and Zmijewski method analysis. This study uses secondary data, it was the annual financial report of the Automotive Sector Manufacturing Company for the period 2015-2017 using the technique of documentation and analyzed by the Altman Z-score method, Springate (S-score), and Zmijewski. The final results of this study indicate that there is a difference in the percentage of bankruptcy rates of each company from each method used. The results of the prediction of the Altman Z-score bankruptcy method, it was the bankrupt category of 25.00%, the non-bankrupt category of 8.33% and the grey area category of 66.67%. The prediction results of Springate (S-score) bankruptcy method, it was the bankrupt category of 66.67%, and the non-bankrupt category of 33.33%. The prediction results of Zmijewski bankruptcy method, it was the bankrupt category of 8.33%, and the non-bankrupt category by 91.67%.

scholarly journals ANALISIS POTENSI FINANSIAL DITREES PADA INDUSTRI SEMEN TERDAFTAR DI BURSA EFEK INDONESIA

2020 ◽  
Vol 3 (1) ◽  
pp. 47-57
Author(s):  
Pupel Olengga ◽  
Fitriya Fauzi
Keyword(s):  
Financial Distress ◽  
Stock Exchange ◽  
Descriptive Analysis ◽  
Secondary Data ◽  
Cement Industry ◽  
Z Score ◽  
Quantitative Descriptive Analysis ◽  
Grey Area ◽  
Scor Model ◽  
Quantitative Descriptive

The purpose of this research is to analyze how the potential financial distress in the cement industry are listed on the Indonesia Stock Exchange Byusing the altman z-score model and the springate model using secondary data on cement industry listed on the indonesia stock excange using quantitative descriptive analysis techniques the final result show that the financial performance analyzed using the altman z-scor model and the springate model on the cement industry listed on the indonesia stock exchange in 2013 to 2018 was in a state of no or experiencing financial difficulties. The result of the prediction of financial distrees or bankruptcy predictions are companies using the altman z-scor model in gray area and expriencing bankruptcy, namely PT. Indocement in 2017 and 2018  was  in the grey area zone grey area  and in 2017 experiencing financial ditrees, PT  Semen Baturaja (Persero), Tbk went financial distrees in 2017 and 2018 while PT Solusi Bangun Indonesia,Tbk in 2013 to 2018 experienced financial distrees while the result of financial ditress, namely PT Solusi Bangun Indonesia, not yet in 2013 to 2018 while PT Semen Baturaja (Persero),Tbk in 2017 and 2018.   Tujuan dari penelitian ini adalah untuk menganalisis bagaimana potensi kesulitan keuangan dalam industri semen terdaftar di Bursa Efek Indonesia. Dengan menggunakan model altman z-score dan model springate menggunakan data sekunder pada industri semen yang terdaftar di Bursa Efek Indonesia menggunakan deskriptif kuantitatif. teknik analisis hasil akhir menunjukkan bahwa kinerja keuangan yang dianalisis menggunakan model altman z-scor dan model springate pada industri semen yang terdaftar di bursa efek indonesia pada 2013 hingga 2018 dalam keadaan tidak ada atau mengalami kesulitan keuangan. Hasil prediksi financial distress atau prediksi kebangkrutan adalah perusahaan yang menggunakan model altman z-scor di grey area dan mengalami kebangkrutan, yaitu PT. Indocement pada 2017 dan 2018 berada di zona abu-abu zona abu-abu dan pada 2017 mengalami kesulitan keuangan, PT Semen Baturaja (Persero), Tbk mengalami kesulitan keuangan pada 2017 dan 2018 sedangkan PT Solusi Bangun Indonesia, Tbk pada 2013 hingga 2018 mengalami kesulitan keuangan sementara hasil financial ditress, yaitu PT Solusi Bangun Indonesia, belum pada 2013 hingga 2018 sedangkan PT Semen Baturaja (Persero), Tbk pada 2017 dan 2018.

The Effect of Bankruptcy Possibility on Audit Delay and Timeliness (Empirical Study on Manufacturing Companies Listed in Indonesian Stock Exchange in the Period of 2012-2016)

2019 ◽  
Vol 2 (2) ◽  
pp. 118-146
Author(s):  
Triana Meinarsih ◽  
Abdul Yusuf ◽  
Muhammad Zilal Hamzah
Keyword(s):  
Quantitative Research ◽  
Stock Exchange ◽  
Secondary Data ◽  
Annual Reports ◽  
Manufacturing Companies ◽  
Z Score ◽  
Quality Of Accounting Information ◽  
Independent Variable ◽  
A Company

Audit delay and timeliness are important factors that influence the quality of accounting information in term of relevance. This study provides empirical evidence to answer the question of how bankruptcy possibility impacts on audit delay and timeliness.  This research studies manufacturing firms listed in Indonesian Stock Exchange (IDX) in the period of 2012-2016. Data are taken from official website of IDX. This study is a quantitative research that seek to find out relationship between independent variable and dependent variable. External secondary data used are annual reports accessed from IDX website. Measurement used is Z-Score Altman model prediction, while simple linear regression is employed as technical analysis. This study finds that bankruptcy possibility which is measured by ZScore is negatively influence audit delay and timeliness. Any decrease of Z-Score shows the possibility of a company experience bankruptcy and therefore causes audit delay and timeliness.

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