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Journal : International Journal of Economics and Development

Time Series And Cross-Section Analysis On The Financial Performance Of PT Matahari And PT ACE Hardware For The 2021–2024 Period Maslina Samosir; Maria Kalista Lambo; Cholis Hidayati
International Journal of Economics and Development Vol. 1 No. 2 (2025): Vol 1 No 2 December 2025
Publisher : Ponpes As-Salafiyyah Asy-Syafi'iyyah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.71305/ijed.v1i2.1482

Abstract

This study aims to analyze and compare the financial performance of PT Matahari Department Store Tbk and PT ACE Hardware Indonesia Tbk during the 2021–2024 period. The approach used is quantitative with a type of comparative research, using secondary data in the form of financial ratios sourced from the financial statement analysis documents of each company. The analysis was carried out through the time series method to see the development of performance from year to year and the cross-section method to compare the performance of the two companies in the same period. The financial ratios analyzed include liquidity, activity, solvency, and profitability ratios. The results of the study show that PT Matahari is experiencing great pressure on liquidity and solvency aspects which are characterized by negative net working capital and a very high level of debt dependence due to a decrease in equity. The efficiency of PT Matahari's asset utilization shows improvement, but this condition has not been able to cover the financial risks faced. PT ACE Hardware showed a more stable financial performance with consistent profit and equity growth, a strong capital structure, and maintained profitability. The results of the comparison show that PT ACE Hardware has a healthier and more sustainable financial performance than PT Matahari during the study period. This research is expected to be a reference for company management, investors, and academics in assessing the financial health of retail companies in Indonesia.
Co-Authors Adelia Febriana Adhyasta Cakra Whisnu Arsyana Adinda Nibros Zahira Fasya Ahmad Qois Ajeng Rossantika Sari Aliatus Nurrochmah Alinda Dwi Jofanka Allesia Putri Wijaya Sutikno Allysia Safira P. P Amelia Vega Buana Anisa Lailatul Nikmah Annisa Rahma Qur’aini Argaleka Ayu Candraningsih Astri Ayu Pramesti Ayu Asari Baity Nur Fadila Cailah Nasywa Afrila Celine Amanda Sarifatul Sabrina Christian Hadinata Hodianto Cindy Rahmawati Daariin Dewi Nabiilah Desfi Dwi Sulistyana Desinta Leba Devi Alita Solehsi Diah Indri Anggriyanti Diana Indah Sri Lestari P. A Dicky Satria Ananta Haqq Dwi Dita Ratnasari Elmiano A. E. Erong Erinda Aprilia Puspitasari Fara Brygita Ramadhani Febi Theresia Imanuel Febrianti Novita Fernianda Wahyu Ramadanthy Fillah Ardhi Fitri Sulistiyana Hanum Cheffi A Intan Pandini Ira Kusuma Wardhani Irma Nur Fadlia Joanne Intania Rut Simunapendi Josephine Elliska Dinata Kemberly Susana Kambuaya Krisogonus A. Seleman Kristiana Greta Calosa Kusnul Kotimah Kustiwi, Irda Agustin Laila Putri Hidayati Lisa Lavenia Maftuhin Agung Prasetia Marcella Aulia Jayadi Maria Dinda A Maria Kalista Lambo Marlinda Ina Maslina Samosir Maulana Ikhrom Ababil Mei Liana Rofilia Sari Moch Iqbal Romadhan Mochammad Arifin Mochammad Nuruddin R Muhammad Indra Wardana Muhammad Nabil Fatwa Mukhamad Sholikudin Nadia Fransiska Dewi Nia Nur Yanti Agustin Nilam Noer Faizah Nur Fitroten Dian Sari Nur Imroatus Sholikah Patricia Channelia Wea Paulino da Costa Ferreira Putri Rahayu Rafa Syahrul Amrulloh Rafi Adyatma Reginata Saharany Kustanti Reinatto Yakobus Pati Agon Atakelan Richa Nor Syafitri Riska Septi Ariani Rista Intan Permatasari Rr Adzkia Larasati Meyrizky Salsabila Maulidya Supriadi Bahrim Selfya Rusdyanti Dewi Septiana Rozzi Rahmawati Shofiatus Sa’diyah Sirilia S. J Ruben Siti Ambar Mukti Puji Lestari SITI NURUL HIDAYATI Stefani Sindita Sari Sudarynianto NS Sukma Asri Uci Oktavia Veronika Christine Mevelia Via Wahyuningtyas Yohana Natalia Fransiska Yuli Meliana Yunia Six Putri Hermanto