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Journal : Jurnal Pengabdian Kepada Masyarakat Al-Amin

Analisis Altman Z-Score Untuk Mendeteksi Financial Distress Pada Perusahaan Perkebunan Kelapa Sawit yang Terdaftar di Bursa Efek Indonesia Nurlaila Fitriani; Wawan Andang Saputra
Jurnal Pengabdian Kepada Masyarakat Al-Amin Vol. 3 No. 2 (2025): July 2025
Publisher : STAI Al-Amin Gersik Kediri Lombok Barat-NTB

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54723/jpa.v3i2.437

Abstract

The palm oil industry is a vital pillar of the Indonesian economy, yet companies in this sector often face financial distress risks. This study explores the financial condition of palm oil plantation firms listed on the Indonesia Stock Exchange using the Altman Z Score method. Four key financial ratios, WCTA, RETA, EBITTA, and BVETL, were applied in the analysis. The sample was determined through purposive sampling and included sixteen companies with sixty four financial observations covering the years two thousand twenty to two thousand twenty three. Data were collected from annual reports and processed using Microsoft Excel, producing scores that classified companies into safe, grey, or distress zones. The results reveal that most firms maintained stability. In two thousand twenty three, seventy five percent of firms were in the safe zone, thirteen percent in the grey zone, and thirteen percent in the distress zone. Eleven firms consistently remained safe, one stayed in the grey zone, one persistently distressed, while three shifted between categories. These findings demonstrate that the Altman Z Score is not only an analytical tool but also a practical guide for investors in evaluating risk and shaping accurate investment strategies
Co-Authors Abduh, Sahrina Abdul Majid Ade Sriwahyungsih Ah Yusuf, Ah Ahmad Fadhlur Rahman Ahsaniyah, A. Besse Ai Indah Nazriah AI MARDHIYAH, AI Amila R, May Shafarah Andriani Andriani Annisa Fais Pradevi Annisa Fais Pradevi Aras, Djohan Aras, Irwin Arif Widodo Arum Pratiwi Astuti, Ayun Dwi Azzahra, Nur Inaayah Bahtiar Bahtiar Bakhtiar, Hasmiranda Basrah, Miftahul Jannah Beti Kristinawati Casman, Casman Darwis, A Muflihah Dian Sidik Arsyad Dwi Kesuma Sari Dwi Nopriyanto Efri Widianti Eka Budiarto Eka Budiarto, Eka Erlina Fauzia Fahrun Nur Rosyid Febrianti, Eva Febrianty, Eva Firmansyah, Fathoni Gaffar, Indra Gondo, Adi Ahmad Hamisah, Hamisah Hapsah, Hapsah Harisa, Akbar Hasnawati, Atik Hastuti Hastuti Hasyar, Andi Rizky Arbaim Hatima Ahmad, Husnul Helfiyanti, Yanis Imam Setiady Iskandar Muda Iyus Yosep Izzah, Risdiana Nur Kartiko, Juli Muhamad Khoirun Nisya Khoirunnisa Khoirunnisa Kurniawan Kurniawan Kurniawan Kurniawan Kusrini S. Kadar Kusumaningrum, Arsyinta Retno Lestari, Virny Dwiya Maharani, Devita Marghareta Takumansang, Marce Meutiah Mutmainnah Abdullah Meutiah, Meutiah Mikan, Anugrahwati Datu Mita Putri Pratiwi Muhammad Kamil Nafs, Ummul Tazkiyatun Nahdiah Purnamasari Nava Nofita Kustiaverawati Nida Roihatul Jannah Ningrat, Syahrul Nor Rahayu Nugraha, Aditama Putra NUR FADILAH NUR FITRIYAH Nur Fitriyah N Nurazizah Nurazizah, Nurazizah Nurdin, Jurana Nuskin, Gita Safirah Nuurhidayat Jafar Permana, Andi Fajrin Pradana, Anung Ahadi Purba, Fika Yuliza Putri, Naura Farkhia Rahayu, Rita Rahmah Tresnala Rahman, Framita Ramadhan, Wafiq Aulia Rasak, Risna Rita Rahayu Rivai, Abdur RR. Ella Evrita Hestiandari Rustam, Andi Tenri S Supratman Sabriyati, Wa Ode Nur Isnah Safitri, Aura Sahidin, Husnul Khotimah Saleh, Ariyanti Saputri, Resti Dona Sarih, Karmila Sejati, Ilham Kukuh Setialaksana, Wirawan - Silalahi, Malianti SITI RACHMAWATI Sri Rahayu Sugiyarti Suryadi, Iwan Suryadi, Iwan Toni Arisandi Wawan Andang Saputra Widya Utami, Pramudita Setya Widyatuti, Nugraheni Yodang Yodang Yunita Prabawati, Chlara