Letak Halaman : Beranda » Jurnal SEPA » PENGUKURAN KINERJA KEUANGAN DENGAN PENDEKATAN ANALISIS LIKUIDITAS, SOLVABILITAS, AKTIVITAS, DAN RENTABILITAS PADA PERUSAHAAN PERKEBUNAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

 
 
PENGUKURAN KINERJA KEUANGAN DENGAN PENDEKATAN ANALISIS LIKUIDITAS, SOLVABILITAS, AKTIVITAS, DAN RENTABILITAS PADA PERUSAHAAN PERKEBUNAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

 

 

ALPHASTI RASI DESTIADI1, RHINA UCHYANI2
1Mahasiswa Program Studi Agribisnis Fakultas Pertanian UNS
2Staf Pengajar Program Studi Agribisnis Fakultas Pertanian UNS

ABSTRACT

This study aims to determine the financial performance of the plantation companies listed in Indonesia Stock Exchange, judging from the liquidity ratio, solvency ratio, the ratio of activity and profitability ratios. The basic method used is descriptive analysis method, with the financial ratio analysis as a method of data analysis in this study. Determination of the research sample is determined by purposive sampling consisting of PT Astra Agro Lestari Tbk, PT PP London Sumatra Indonesia Tbk, PT Tunas New Lampung Tbk, and PT Bakrie Sumatera Plantations Tbk. Types of data used are secondary data, ie data of financial statements published in the Indonesian Stock Exchange, or listed in the Annual Report or the company’s annual report. The data used is the income statement and balance sheet statements for the period 2004-2008 from each company. The results showed that during the years 2004-2008, every plantation companies who fall into 45 LQ periods August 1, 2008 until January 31, 2009 at the Indonesian Stock Exchange recorded a growth trend capable of good levels of liquidity, and PT Bakrie Sumatera Plantations Tbk into company most liquid compared with the level of liquidity at other plantation companies. Solvency analysis results also showed that all plantation companies in solvabel conditions, in addition to placing PT Astra Agro Lestari Tbk become the company most able to guarantee all the debt with all the available assets than other plantation companies to be compared. From the results of ratio analysis in describing the activities of the financial performance of publicly listed plantation company is known that PT Astra Agro Lestari Tbk become the sole issuer of the most efficient plantations in managing the equity component of activation, reflected by the average value of total asset turnover ratio of 1.1 times . These results are also places of PT Astra Agro Lestari Tbk as the company with the best performance of activities than other publicly traded plantation company. Furthermore, the level of profitability of all firms going public estates under study showed a positive growth trend from 2004 until 2008, although there are some companies that experienced a decrease in ratio. Based on analysis of return on equity, over the past five years (2004-2008) the best performance achieved by PT Astra Agro Lestari Tbk with an
average rating of 39.4%.

Keywords: Plantation Company, Financial Performance, Liquidity Ratios, Solvency Ratios, Activity Ratios, Profitability Ratios

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