The purpose of this research is to analyze the influence of financial ratios on financial stability of banking companies in Indonesia from 2012 - 2023. Altman1968 and Altman1995 can be utilized as the dependent variables, while the independent variables include COMP, ROE, CIR, CAR, and GDPG. This research looked at all the banking companies listed on IDX in Indonesia and used panel regression as the methodology. The results show that CAR plays a vital role for Altman1968 and Altman1995, while CIR plays a vital role for Altman1995 only. However, this research found that COMP, GDPG, and ROE do not have an impact on Altman1968 and Altman1995. Furthermore, this research suggests that having a lower CIR and a higher CAR leads to healthier and more stable financial health for banking companies in Indonesia, making them more competitive. Financial stability is crucial for banking companies to ensure longevity of the company and earn as much revenue as possible. Moreover, banking companies should avoid taking high risks that could potentially harm their financial stability, to reduce the chance of going bankrupt. Therefore bank companies should be careful when handling their finances to make sure that they are not wasting it.