Abstrak. Penelitian ini bertujuan untuk menganalisis prediksi kebangkrutan pada perusahaan subsektor makanan dan minuman menggunakan model Altman Z-Score. Dalam konteks industri makanan dan minuman yang kompleks, fenomena kebangkrutan dapat timbul akibat fluktuasi laba dan kondisi financial distress. Model Altman Z-Score merupakan alat analisis prediktif yang telah digunakan luas dalam industri manufaktur untuk deteksi awal financial distress. Data sekunder yang digunakan dalam penelitian ini meliputi laporan keuangan neraca dan rugi laba tahunan perusahaan subsektor makanan dan minuman periode 2019–2023. Lima rasio keuangan utama yang digunakan dalam model Altman Z-Score, yakni rasio modal kerja terhadap total aset, laba ditahan terhadap total aset, EBIT terhadap total aset, nilai pasar ekuitas terhadap nilai buku hutang, dan rasio penjualan terhadap total aset, dianalisis untuk menilai potensi kebangkrutan perusahaan. Hasil analisis model Altman Z-Score menunjukkan bahwa beberapa perusahaan berpotensi mengalami financial distress, yang jika tidak segera ditangani, dapat berlanjut ke fase kebangkrutan. Dengan demikian, penelitian ini memberikan gambaran yang komprehensif tentang pentingnya implementasi model prediktif kebangkrutan dalam industri makanan dan minuman untuk mempertahankan kinerja dan stabilitas keuangan perusahaan. Implementasi model Altman Z-Score dapat membantu manajer perusahaan memprediksi dan mengantisipasi tanda-tanda awal financial distress, sehingga langkah-langkah preventif dapat diambil sebelum situasi tersebut memburuk.Kata kunci: Financial Distress, Altman Z-Score, Makanan dan MinumanAbstract. This research aims to analyze the prediction of bankruptcy in companies within the food and beverage subsector using the Altman Z-Score model. In the complex context of the food and beverage industry, bankruptcy phenomena can arise due to profit fluctuations and financial distress conditions. The Altman Z-Score model is a predictive analysis tool that has been widely used in the manufacturing industry for early detection of financial distress. The secondary data used in this study includes balance sheets and annual income statements of companies in the food and beverage subsector for the period 2019–2023. Five key financial ratios employed in the Altman Z-Score model—working capital to total assets, retained earnings to total assets, EBIT to total assets, market value of equity to book value of debt, and sales to total assets—were analyzed to assess the potential bankruptcy of these companies. The analysis results from the Altman Z-Score model indicate that several companies are at risk of experiencing financial distress, which, if not addressed promptly, could lead to bankruptcy. Thus, this study provides a comprehensive overview of the importance of implementing bankruptcy prediction models within the food and beverage industry to maintain corporate performance and financial stability. The application of the Altman Z-Score model can assist company managers in predicting and anticipating early signs of financial distress, allowing for preventive measures to be taken before situations worsen.Keywords: Financial Distress, Altman Z-Score, Food and Beverages