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All Journal Transformasi: Jurnal Pengabdian Masyarakat Infestasi Jurnal Pamator : Jurnal Ilmiah Universitas Trunojoyo KABILAH : Journal of Social Community Darmabakti : Junal Pengabdian dan Pemberdayaan Masyarakat Jurnal Aplikasi Teknologi Informasi dan Manajemen (JATIM) Jurnal Akuntansi dan Keuangan Melati: Jurnal Media Komunikasi Ilmu Ekonomi Journal of Business Improvement Jurnal Pengabdian Masyarakat Al-Fatimah
Imam Wahyudi
Universitas Islam Madura
Religion Humanities Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Environmental Science Social Sciences Other

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Prediksi Potensi Financial Distress PT Waskita Karya Periode 2020–2024 dengan Pendekatan Multi-Model Ika Oktaviana Dewi; Imam Wahyudi; Ismi Fitri Aulia; Nailah Aka Kusuma; Safi'ah Safi'ah; Tini Lestari; Faisol Fahad; Fathorrahman Fathorrahman; Desy Liana Putri
Jurnal Akuntansi dan Keuangan Vol 15, No 2 (2026)
Publisher : Universitas Budi Luhur

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36080/jak.v15i2.4579

Abstract

This study aims to analyze the Financial Distress condition of PT Waskita Karya during the 2020–2024 period using the Altman Z-Score, Springate, Zmijewski, and Grover models. This research is important because state-owned construction companies have high leverage characteristics and complex liquidity pressure risks, while studies on Financial Distress in Indonesia’s construction sector remain limited and generally employ only a single prediction model. This study used a descriptive quantitative approach with secondary data obtained from the company’s annual financial statements. The results indicate that high leverage, weak liquidity, and low profitability caused the company to experience Financial Distress. The Altman Z-Score, Springate, and Zmijewski models consistently classified the company as financially distressed, while the Grover model categorized the company as healthy during 2020–2023 and financially distressed in 2024. This study confirms that a multi-model approach provides a more comprehensive evaluation of a company’s financial condition.
Co-Authors Abd. Rasyid Syamsuri Ardi Hamzah Arif Muntasa Ary Iswahyudi Bambang Haryadi Desy Liana Putri Dita Megasari Evi Malia Faisol Fahad Fathorrahman Fathorrahman Halimatus Sakdiyah Ifan Rizky Kurniyanto Ira Yudistira Ismi Fitri Aulia Iswahyudi Iswahyudi Jamilatul Uyun Jamilatul Uyun Mohammad Nizarul Alim Mohammad Taufiq Shidqi Nailah Aka Kusuma Nailah Aka Kusuma Nanang Setiawan Nur Hayati Oktaviana Dewi, Ika Riskiyatur Rohemah Riskiyatur Rohemah, Riskiyatur Risky Mezi Muria Safi'ah Safi'ah Sustiyana Tini Lestari