Main Article Content

Abstract

The significant growth of the domestic cement industry has increased competition between companies, thus demanding that companies improve their financial performance. For this reason, this study was conducted on three cement sub-sector companies listed on the IDX in the 2016-2018 periods with quota sampling. Researchers using comparison method to financial performance using liquidity ratios, solvency and profitability ratios with industry standard ratios. The results showed that in terms of the company's liquidity ratio of Current Ratio (CR), Quick Ratio (QR) and Cash Ratio (CsR) of PT. Indocement Tunggal Tbk and PT. Semen Baturaja Tbk shows good financial performance since above the industry average. Meanwhile, PT. Semen Indonesia Tbk shows less financial performance since the CR, QR and CsR are below the industry average. Meanwhile, in terms of the company's solvency ratio by using Debt to Equity Ratio (DER) of PT. Indocement Tunggal Tbk, PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk shows good financial performance since the DER is below the industry average, while Debt to Assets Ratio (DAR) of PT. Indocement Tunggal Tbk and PT. Semen Baturaja Tbk shows good financial performance since the DAR is below the industry average, while PT. Semen Indonesia Tbk shows less financial performance because its DAR is above the industry average. Furthermore, in terms of company profitability by using Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) of PT. Indocement Tunggal Tbk, PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk shows less of financial performance since the ROA, ROE and NPM are below the industry average, while from Operating Profit Margin (OPM) PT. Indocement Tunggal Tbk, PT. Semen Baturaja Tbk and PT. Semen Indonesia Tbk shows good financial performance because its OPM is above the industry average.


 

Keywords

Liquidity Solvency Profitability Financial Performance

Article Details

References

  1. Astuti, D. (2017). Manajemen Keuangan Perusahaan. Jakarta. Ghalia Indonesia.
  2. Batchimeg, B. (2017). Financial Performance Determinants of Organizations: The Case of Mongolian Companies. Journal of Competitiveness, 9(3), 22–33.
  3. Csath, M. (2007). The Competitiveness of Economies: Different Views and Arguments. Society and Economy Journal, 29(1), 87–102.
  4. Fahmi, I. (2017). Analisis Laporan Keuangan. Bandung. Alfabeta.
  5. Harahap, S. S. (2015). Analisis Kritis atas Laporan Keuangan. Jakarta. Rajawali Pers.
  6. Hertati, L., Zarkasyi, W., Suharman, H., Umar, H. (2019). The Effect of Human Resource Ethics on Financial Reporting Implication for Good Government Governance (Survey Related Sub-units in State-owned Enterprise in Sumsel. International Journal of Economics and Financial Issues, 9(4), 267–276.
  7. Ikatan Akuntansi Indonesia. (2015). Standar Akuntansi Keuangan. Jakarta. Salemba Empat.
  8. Jenatbadi, H. S. (2015). An Overview of Organizational Performance Index: Definitions and Measurements. International Journal of Business and Management, 8(19), 107–117.
  9. Kasmir. (2016). Analisis Laporan Keuangan. Jakarta. Raja Grafindo Persada.
  10. Ko, W. H. (2015). Constructing a Professional Competence Scale for Research & Development Employees from an Industry View Point. International Journal of Hospitality Management, 49(1), 66–72.
  11. Lukviarman, N. (2016). Corporate Governance. Solo. Raja Grafindo Persada.
  12. Manzoni, A, Sardar, M. N. I. (2007). Performance Measurement in Corporate Governance. Springer.
  13. Marfungatun, F. (2016). Pengaruh Rasio Profitabilitas, Likuiditas, dan Leverage Terhadap Kondisi Financial Distress (Studi Empiris pada Perusahaan 71 Manufaktur yang Terdaftar di Bursa Efek Indonesia Periode 2013-2015). Jurnal Ekonomi Dan Bisnis, 1(1), 1–12.
  14. Mirza, A. S., Javed, A. (2013). Determinants of Financial Performance of a Firm: Case of Pakistani Stock Market. Journal of Economics and International Finance, 5(2), 43–52.
  15. Munawir, S. (2015). Analisa laporan Keuangan. Liberty.
  16. Ovidiu, C. T., Teodor, V. D. (2013). Case Study on Analysis of Financial Statements at a Furniture Manufacturer. Journal of Knowledge Management, Economics and Information Technology, 3(5), 1–24.
  17. Pandian, T. M., N. (2015). Impact of Financial PErformance Indicators (FPIs) on Profiatbility. International Journal of Current Reserach, 7(1), 12141–12149.
  18. Pasiakan M. P. N., Alexander, S. W., Pangerapan, S. (2018). Analisis Laporan Keuangan Sebagai Dasar Penilaian Kinerja Pada Perusahaan Semen Yang Terdaftar Di Bursa Efek Indonesia Periode 2015-2016. Jurnal Riset Akuntansi Going Concern, 13(4), 412–419.
  19. Said, M., Ali, H. (2016). An Analysis on the Factors Affecting Profitability Level of Sharia Banking in Indonesia. Banks and Banking Systems, 11(3), 28–36.
  20. Sirait, H. (2017). Analisis Laporan Keuangan Sebagai Dasar Penilaian Terhadap Kinerja Keuangan Pada PT. Herfinta Farm & Plantation. Jurnal Ilmiah Methonomi, 3(2), 16–25.
  21. Sugiyono. (2016). Metode Penelitian Kuantitatif, Kualitatif dan R&D. Bandung. PT. Alfabet.
  22. Sulindawati, N. G. L. E., Yuniarta, G. A., Purnamawati, I. G. A. (2017). Manajemen Keuangan: Sebagai Dasar Pengambilan Keputusan Bisnis (1st ed.). Rajawali Pers.
  23. Wulandari, S. (2018). Analisis Laporan Keuangan Untuk Menilai Kinerja Keuangan Perusahaan (Studi Kasus Pada Perusahaan Sub Sektor Kimia di Bursa Efek Indonesia Periode 2009-2013 dan 2014-2016). In Skripsi (pp. 1–277). Universitas Sanata Dharma.