The analysis of return on assets, net profit margin, and current ratio for forecasting financial distress at transportation companies listed on Indonesia Stock Exchange

Paramarta, Eric (2020) The analysis of return on assets, net profit margin, and current ratio for forecasting financial distress at transportation companies listed on Indonesia Stock Exchange. Bachelor thesis, Universitas Pelita Harapan.

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Abstract

As time goes by, people begin to realize the importance of investment. However, many of them do not understand how to evaluate the prospects of a company. They are only tempted by the income and dividends obtained without considering the sustainability of the company. Therefore, this study aims to examine the Return on Assets, Net Profit Margin, and Current Ratio to financial distress which is calculated using the Altman Z-score. The independent variables for this research are Return on Asset, Net Profit Margin, and Current Ratio. The dependent variable for this research is financial distress. The population in this study are transportation sector companies listed on Indonesia Stock Exchange (IDX) for the period 2015 – 2018. The sampling for this study is based on certain criteria or known as purposive sampling method. The samples used are 8 transportation sector companies with a total of 32 data. The type of data used in this study is secondary data that is taken from the financial statements and is analyzed with multiple linear regression by using the SPSS 25 program. Returns on Assets and Net Profit Margin have an insignificant effect to financial distress. While the Current Ratio has a significant effect to financial distress. Return on Assets, Net Profit Margin, and Current Ratio have a significant impact to financial distress simultaneously./Seiring berjalannya waktu, orang mulai menyadari pentingnya investasi, tetapi masih banyak dari mereka yang tidak mengerti cara melihat prospek suatu perusahaan. Sebagian besar dari mereka hanya tergoda oleh pendapatan perusahaan dan dividen yang diperoleh tanpa memikirkan keberlanjutan perusahaan. Oleh karena itu, penelitian ini bertujuan untuk menguji pengembalian atas aset, marjin laba bersih dan rasio lancar terhadap kesulitan keuangan yang dihitung menggunakan Altman Z-score. Variabel independen untuk penelitian ini adalah pengembalian atas aset, marjin laba bersih dan rasio lancar. Variabel dependen untuk penelitian ini adalah kesulitan keuangan. Populasi dalam penelitian ini adalah perusahaan sektor transportasi yang terdaftar di Bursa Efek Indonesia (BEI) untuk periode 2015 - 2018. Pengambilan sampel untuk penelitian ini berdasarkan kriteria tertentu atau dikenal dengan metode purposive sampling. Sampel yang digunakan adalah 8 perusahaan sektor transportasi dengan total 32 data. Jenis data yang digunakan dalam penelitian ini adalah data sekunder yang diambil dari laporan keuangan dan dianalisis dengan regresi linier berganda dengan menggunakan program SPSS 25. Pengembalian Aset dan Margin Laba Bersih memiliki pengaruh yang tidak signifikan terhadap kesulitan keuangan. Sedangkan rasio lancar memiliki pengaruh signifikan terhadap kesulitan keuangan. Pengembalian atas aset, marjin laba bersih dan rasio lancar memiliki dampak signifikan terhadap kesulitan keuangan secara bersamaan.

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