Pengukuran Financial Distress menggunakan Altman Z-Score sebagai Analisis Keberlangsungan Usaha PT BPS

Abstract

DHIATRI RAGIL WULANDARU. Pengukuran Financial Distress menggunakan Altman Z-Score sebagai Analisis Keberlangsungan Usaha PT BPS. Dibimbing oleh MUTIARA PUSPA WIDYOWATI. Penelitian ini bertujuan untuk menganalisis keberlangsungan usaha PT BPS dengan menggunakan metode Altman Z-Score sebagai alat untuk mendeteksi financial distress. PT BPS merupakan perusahaan sekuritas yang mengalami kerugian pada tahun 2021 dan 2022. Pengumpulan data dilakukan dengan observasi, wawancara, dan dokumentasi. Analisis data menggunakan Altman ZScore revisi, lima rasio keuangan utama: modal kerja terhadap total aset (X1), laba ditahan terhadap total aset (X2), laba bersih sebelum pajak terhadap total aset (X3), nilai buku ekuitas terhadap total kewajiban (X4), dan penjualan terhadap total aset (X5). Hasil penelitian yaitu perhitungan Altman Z-Score PT BPS selama periode 2018-2022, lalu analisis keberlangsungan usaha PT BPS yang berada dalam kriteria rawan dan bangkrut. Selanjutnya dibuatkan Ms. Excel agar perusahaan dapat melakukan perhitungan di masa yang akan datang dan adanya langkah preventif, agar perusahaan terhindar dari kebangkrutan. Kata Kunci: Financial Distress, Altman Z-Score, Keberlangsungan Usaha

DHIATRI RAGIL WULANDARU. Designing Financial Distress Measurement uses Altman Z-Score as PT BPS Business Sustainability Analysis. Supervised by MUTIARA PUSPA WIDYOWATI. Designing Financial Distress Measurement uses Altman Z-Score as PT BPS Business Sustainability Analysis. This study aims to analyze the business continuity of PT BPS by using the Altman Z-Score method as a tool to detect financial distress. PT BPS is a securities company that suffered losses in 2021 and 2022. Data collection is done by observation, interview, and documentation. Data analysis using the revised Altman Z-Score, five main financial ratios: working capital to total assets (X1), retained earnings to total assets (X2), net profit before tax to total assets (X3), book value of equity to total liabilities (X4), and sales to total assets (X5). The results of the research are the calculation of the Altman Z-Score of PT BPS during the 2018-2022 period, then analyzing the business continuity of PT BPS which is in the vulnerable and bankrupt criteria. Furthermore, Ms. Excel was made so that the company could carry out calculations in the future and there were preventive steps, so that the company avoided bankruptcy. Keywords: Financial Distress, Altman Z-Score, Business Sustainability