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All Journal JURNAL PENDIDIKAN TAMBUSAI Ekonomi Bisnis Manajemen dan Akuntansi (EBMA) JURNAL MANAJEMEN AKUNTANSI (JUMSI) GOVERNANCE: Jurnal Ilmiah Kajian Politik Lokal dan Pembangunan Jurnal Ilmiah Mahasiswa Perbankan Syariah (JIMPA) IIJSE
Al Ihsan, Muhammad Ali
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Humanities Economics, Econometrics & Finance Education Environmental Science Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Journal : GOVERNANCE: Jurnal Ilmiah Kajian Politik Lokal dan Pembangunan

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PERBANDINGAN KINERJA KEUANGAN PT CISADANE SAWIT RAYA TBK DAN PT PP LONSUM SUMATRA INDONESIA TBK : ANALISIS RASIO DAN TREN PERIODE 2019 - 2023 Yolanda, Feby; Al Ihsan, Muhammad Ali; Rafika, Mulya
GOVERNANCE: Jurnal Ilmiah Kajian Politik Lokal dan Pembangunan Vol. 11 No. 4 (2025): 2025 Juni
Publisher : Lembaga Kajian Ilmu Sosial dan Politik (LKISPOL)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56015/gjikplp.v11i4.409

Abstract

This study aims to analyze and compare the financial performance of PT Cisadane Sawit Raya Tbk (CSRA) and PT PP London Sumatra Indonesia Tbk (LSIP) for the 2019–2023 period using financial ratio analysis and trend analysis. The methods used include liquidity, profitability, solvency, and activity ratios to assess the efficiency and financial stability of the two companies. The results show that LSIP has a more stable and high level of liquidity than CSRA, reflecting better cash management. In terms of profitability, CSRA experienced a more significant increase in Gross Profit Margin (GPM), but still needed to increase Net Profit Margin (NPM). In contrast, LSIP faces challenges in cost efficiency with a more stable NPM. In terms of solvency, CSRAs have decreased debt dependency but are still above industry standards, while LSIP has a healthier capital structure and lower financial risk. In terms of activities, CSRA shows an increase in the efficiency of asset use even though it is still below industry standards, while LSIP also needs to improve the effectiveness of its asset management. Overall, this research provides insight for investors and company management in designing more optimal financial strategies.
Co-Authors Ade Parlaungan Nasution, Ade Parlaungan Ananda, Chantika Febriyani Napitupulu, John Partutur Pristiyono, Pristiyono Rafika, Mulya Simanjorang, Elida Florentina Sinaga Siregar, Robert Pangihutan Valevy, Reza Yolanda, Feby