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All Journal Equity: Jurnal Akuntansi
Niken Septya Harianik
Universitas Bhayangkara Surabaya
Economics, Econometrics & Finance Social Sciences

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Profitability and Activity Ratio Analysis of PT Gunung Raja Paksi Tbk. Financial Performance, 2021-2024 Niken Septya Harianik; Siti Rosyafah; Elly Yuniar Nitawati
Equity: Jurnal Akuntansi Vol. 7 No. 1: September 2026
Publisher : Universitas Bhayangkara Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.46821/equity.v7i1.881

Abstract

This study evaluates the 2021-2024 financial performance of PT Gunung Raja Paksi Tbk using return on assets, return on equity, total asset turnover, and inventory turnover. It applies descriptive quantitative analysis to public financial statements. The 2024 divestment is treated as a structural break, and continuing operation profit is distinguished from discontinued operation profit. Consolidated ROA and ROE reached 15.65% and 17.97% in 2024, while indicative ratios based on continuing operation profit were only about 2.82% and 3.23%. TATO was 0.44 times and ITO was 2.06 times in 2024. The headline finding is that the consolidated profitability surge cannot be interpreted as pure operating improvement because most profit was associated with discontinued operations and the divestment gain. Performance assessment therefore needs to consider the source of earnings and changes in reporting perimeter.
Co-Authors Elly Yuniar Nitawati Siti Rosyafah, Siti