Analisis Tingkat Kesehatan Finansial dan Kinerja Perusahaan Dengan Model Altman

Nelyanti Siregar

Abstract


This company has good prospect and good financial performance because the production
capacity is increased from 2004 to 2010 and the prices of gold and silver are good in the market.
But, this condition still make the company agains the weakness and opportunities.The good profit
and revenue of sales is increase, can be make the company is called the good performance.
The goals of this thesis is analized and comparative of the PT NHM financial performance
along seven year from 2004 to 2010, by used financial ratios method and Altman Index analysis.
The performance of financial is good, because the likuidity ratio and solvability ratio is
increased over year 2006. And than, the company effectivity is good too, because the activity ratio
is stabilized, and the pofitability ratio can push operation cost every year over 2006, when this
time the cost of production is higher, and the return earning is increased by trend-up..
From 3 varians Z score analysis, no indicated to bankrupted because at 2006 the result of
Z-Score dan Zā€™-Score is indicated to gray zona. The other condition, at 2006, the effectivity of
assets management (Rate return on total assets or Investment = ROI) is decreased to under
industry average, but the debt to equity ratio is increased with significant above the industry
average.


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DOI: https://doi.org/10.37721/je.v14i2.221

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