Proceedings of the 1st International Conference on Economics Engineering and Social Science, InCEESS 2020, 17-18 July, Bekasi, Indonesia

Research Article

A Comparative Analysis of Financial Distress at PT. Semen Baturaja Tbk. and PT. Semen Indonesia Tbk. from the Period Year of 2012 - 2018

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  • @INPROCEEDINGS{10.4108/eai.17-7-2020.2303090,
        author={Endang Puji Astuti and Sahroni  Sahroni and Anindya Trisna Wardani},
        title={A Comparative Analysis of Financial Distress at PT. Semen Baturaja Tbk. and PT. Semen Indonesia Tbk. from the Period Year of 2012 - 2018},
        proceedings={Proceedings of the 1st International Conference on Economics Engineering and Social Science, InCEESS 2020, 17-18 July, Bekasi, Indonesia},
        publisher={EAI},
        proceedings_a={INCEESS},
        year={2021},
        month={1},
        keywords={financial distress altman z-score method springate method zmijewski method grover method},
        doi={10.4108/eai.17-7-2020.2303090}
    }
    
  • Endang Puji Astuti
    Sahroni Sahroni
    Anindya Trisna Wardani
    Year: 2021
    A Comparative Analysis of Financial Distress at PT. Semen Baturaja Tbk. and PT. Semen Indonesia Tbk. from the Period Year of 2012 - 2018
    INCEESS
    EAI
    DOI: 10.4108/eai.17-7-2020.2303090
Endang Puji Astuti1,*, Sahroni Sahroni1, Anindya Trisna Wardani1
  • 1: Pamulang University, Pamulang, Indonesia
*Contact email: dosen01682@unpam.ac.id

Abstract

The purpose of this research is to find out how big the potential for bankruptcy at PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk period 2012 – 2018 based on the level of financial distress of the company. In this study, the method used is four bankruptcy analysis methods namely the Altman Z-score, Springate, Zmijewski and Grover methods. The results of the study showed the liquidity ratio of PT. Semen Baturaja Tbk is higher and the company's capital is greater than PT. Semen Indonesia Tbk. For solvency ratios at PT. Semen Indonesia Tbk is higher because funding with debt is also greater. The profitability ratio is higher at PT. Semen Indonesia Tbk because PT. Semen Indonesia is better able to maximize the use of assets so that the ability to pay dividends is also better than PT. Semen Baturaja Tbk. Whereas the activity ratio based on the level of sales is higher in the ratio of PT.Semen Baturaja Tbk. and for a higher market ratio at PT. Semen Baturaja Tbk because the company's debt is also large. Despite the fluctuations in PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk, but the two companies have not been included in the category of potentially bankrupt companies. This is because the company's operational system is still running quite well, can meet short-term debt and make sales. Although included in the category of non-financial distress, the ratio of companies decreased from 2012 - 2018.