ABSTRAK Setiap kegiatan usaha yang dijalankan oleh setiap perusahaan, wajib membuat laporan keuangan. Laporan keuangan ini menunjukkan kondisi dari kinerja keuangan perusahaan selama periode tertentu, selain itu juga dapat digunakan untuk proses pengambilan keputusan dimasa yang akan datang. Untuk mengukur kinerja keuangan melalui analisis rasio keuangan di antaranya menggunakan rasio likuiditas, aktivitas, solvabilitas, profitabilitas, dan pasar. Penelitian ini dilakukan pada perusahaan PT Astra International Tbk dan menggunakan data sekunder yan berupa laporan keuangan tahun 2012 hingga 2015. Hasil yang diperoleh setelah dilakukan pengukuran kinerja keuangan PT Astra International Tbk dengan rasio likuiditas atas pengukuran rasio lancar (current ratio), rasio cepat (quick ratio), rasio kas (cash rastio) cenderung meningkat. Rasio Aktivitas atas pengukuran perputaran piutang usaha (account receivable turnover), perputaran persediaan (inventory turnover), perputaran aktiva tetap (fixed asset turnver), perpuataran total aktiva (total asset turnover) cenderung menurun. Rasio solvabilitas atas pengukuran rasio utang terhadap aset (DAR), rasio utang terhadap modal (DER), rasio kelipatan bunga yang dihasilkan (TIE) cenderung menurun. Rasio profitabilitas atas perhitungan hasil pengembalian atas aset (ROA), rasio hasil pengembalian atas ekuitas (ROE), margin laba bersih (net profit margin) cenderung menurun. Rasio pasar atas perhitungan price earning ratio (PER) cenderung menurun. Kata kunci : Rasio Likuiditas, Rasio Aktivitas, Rasio Solvabilitas, Rasio Profitabilitas, Rasio Pasar.
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ABSTRACT Every business activity carried on by every company shall make financial reports . The financial statements show the condition of the company's financial performance during a certain period , but it also can be used for decision-making process in the future . To measure financial performance through the analysis of financial ratios of which use liquidity ratios, activity , solvency , profitability , and market . This research was conducted at PT Astra International Tbk and using secondary data yan form of financial statements of 2012 to 2015. The results obtained after the measurement of financial performance of PT Astra International Tbk with a liquidity ratio for measuring the current ratio (current ratio), quick ratio (quick ratio), the ratio of cash (cash rastio) tends to increase. Activity Ratio on measurement receivable turnover (accounts receivable turnover), inventory turnover (inventory turnover), turnover of fixed assets (fixed assets turnver), perpuataran total assets (total asset turnover) tends to decrease. The solvency ratio for measuring the ratio of debt to assets (DAR), the debt-to-equity ratio (DER), the ratio multiple of the interest earned (TIE) tends to decrease. Profitability ratios on the calculation results of the return on assets (ROA), the ratio of the return on equity (ROE), net profit margin (net profit margin) tends to decrease. The ratio of the market on the calculation of the price earnings ratio (PER) tends to decrease.
Keywords : Liquidity Ratios , Activity Ratios , Solvency Ratios , Profitability Ratios , Ratio Market
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DAFTAR ISI Halaman HALAMAN JUDUL ......................................................................................... i HALAMAN PENGESAHAN ........................................................................... ii SURAT PERNYATAAN KEASLIAN SKRIPSI ............................................. iii KATA PENGANTAR ....................................................................................... iv ABSTRAK ......................................................................................................... vi ABSTRACT ......................................................................................................... vii DAFTAR ISI ..................................................................................................... viii DAFTAR TABEL ............................................................................................... x DAFTAR LAMPIRAN ...................................................................................... x BAB I PENDAHULUAN 1.1 Latar Belakang ............................................................................... 1.2 Rumusan Masalah .......................................................................... 1.3 Tujuan Penelitian ............................................................................ 1.4 Manfaat Penelitian .........................................................................
1 4 5 5
BAB II LANDASAN TEORI 2.1 Kajian Teori ................................................................................... 2.1.1 Laporan Keuangan ............................................................... 2.1.2 Tujuan Laporan Keuangan ................................................... 2.1.3 Pemakai Laporan Keuangan .................................................. 2.1.4 Kinerja Keuangan…………………....................................... 2.1.5 Manfaat Penilaian Kinerja .................................................... 2.1.6 Tujuan Penilaian Kinerja ...................................................... 2.1.7 Analisis Rasio Keuangan ...................................................... 2.1.8 Tujuan Analisis Rasio Keuangan .......................................... 2.1.9 Jenis-jenis Rasio Keuangan .................................................. 2.1.10 Metode Analisis Rasio Keuangan ......................................... 2.1.11 Riset Empiris………………………………………………. 2.2 Rerangka Pemikiran .......................................................................
6 6 7 8 12 13 14 14 15 15 21 21 22
BAB III METODE PENELITIAN 3.1 Profil Perusahaan ........................................................................... 3.2 Jenis Penelitian ............................................................................... 3.3 Teknik Pengumpulan Data .............................................................. 3.4 Teknik Analisis Data ......................................................................
25 26 26 27
BAB IV HASIL PENELITIAN DAN PEMBAHASAN 4.1 Hasil Penelitian dan Pembahasan ................................................... 4.1.1 Rasio Likuiditas .................................................................... 4.1.2 Rasio Aktivitas ...................................................................... 4.1.3 Rasio Solvabilitas .................................................................. 4.1.4 Rasio Profitabilitas…………………………………………. 4.1.5 Rasio Pasar………………………………………………….
29 29 35 42 47 55
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BAB V KESIMPULAN DAN SARAN 5.1 Kesimpulan .................................................................................... 56 5.2 Saran ............................................................................................... 60 DAFTAR PUSTAKA ........................................................................................ 61 LAMPIRAN ....................................................................................................... 63 DAFTAR RIWAYAT HIDUP PENULIS (CURRICULUM VITAE) ................ 68
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DAFTAR TABEL Tabel 1 Tabel 2 Tabel 3 Tabel 4 Tabel 5
Halaman Pengukuran Likuiditas................................................................. 29 Pengukuran Aktivitas ................................................................. 34 Pengukuran Solvabilitas ............................................................. 42 Pengukuran Profitabilitas ............................................................ 47 Pengukuran Pasar ...................................................................... 53
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DAFTAR LAMPIRAN Lampiran A
Halaman Data Mentah ............................................................................... 63
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