Yulia Variska Putri
Universitas Abdurachman Saleh Situbondo

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ANALISIS RASIO KEUANGAN UNTUK MENILAI KINERJA KEUANGAN PADA PT ADIRA DINAMIKA MULTI FINANCE TBK PERIODE 2020-2024 Ida Subaida; Yulia Variska Putri; Rika Maulidah
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 3 (2026): MARET 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i3.8325

Abstract

This study aims to analyze the financial performance of PT Adira Dinamika Multi Finance Tbk during the period 2020–2024 using financial ratio analysis. The ratios examined include liquidity ratios (Current Ratio and Cash Ratio), solvency ratios (Debt to Asset Ratio and Debt to Equity Ratio), profitability ratios (Return on Assets and Return on Equity), and activity ratios (Fixed Asset Turnover and Total Asset Turnover). This research employs a quantitative descriptive approach using secondary data obtained from the company’s annual financial reports published by the Indonesia Stock Exchange (IDX). The results indicate that the company’s liquidity condition is generally good, as both the Current Ratio and Cash Ratio remain above industry standards, although cash management still shows fluctuations. From the solvency perspective, the company exhibits relatively high leverage, reflected by Debt to Asset Ratio and Debt to Equity Ratio values that exceed industry benchmarks, indicating a considerable dependence on debt financing. Profitability ratios show that Return on Assets and Return on Equity are still below industry standards, suggesting that asset utilization and returns to shareholders have not been optimal. In terms of activity ratios, Fixed Asset Turnover demonstrates very efficient use of fixed assets, while Total Asset Turnover remains low, indicating that overall asset utilization in generating sales needs improvement. Therefore, the company is expected to optimize asset management, improve capital structure, and enhance profitability to achieve more sustainable financial performance.
PENGARUH TOTAL ASSET TURNOVER, RETURN ON ASSETS, DAN CURRENT RATIO TERHADAP NILAI PERUSAHAAN DENGAN HARGA SAHAM SEBAGAI VARIABEL INTERVENING PADA PERUSAHAAN SEKTOR PROPERTY DAN REAL ESTATE YANG TERDAFTAR DI BEI PERIODE 2022–2024 Yulia Variska Putri; Ida Subaida; Ardhya Yudistira Adi Nanggala
Jurnal Mahasiswa Entrepreneurship (JME) Vol 5 No 1 (2026): JANUARI 2026
Publisher : Fakultas Ekonomi dan Bisnis

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36841/jme.v5i1.8201

Abstract

Property and real estate companies play a crucial role in the economy, particularly in infrastructure development and housing provision. This study aims to examine the effect of Total asset turnover, Return on assets, and Current ratio on Company value, using Stock price as an intervening variable. This study focuses on property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2022-2024 periods. The method used was quantitative with a descriptive approach, and purposive sampling was used to determine the sample. The data used in this study were secondary data obtained from the official IDX website, in the form of financial statements and annual reports during the study period. The data analysis in this study was conducted using the Structural Equation Modeling (SEM) method with the assistance of Smart PLS 3.0 software. The results show that the Total asset turnover has a negative but insignificant effect on Stock price and Company value. The Return on assets has a significant positive effect on Stock price and Company value. The Current ratio has a positive but insignificant effect on Stock price and Company value. The Stock price has a positive but insignificant effect on Company value. Indirectly, the Total asset turnover has a negative but insignificant effect on Company value through Stock price, while the Return on assets and Current ratio has a positive but insignificant effect through Stock price.