Article Per Year (5 Year)
p-Index From 2021 - 2026
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All Journal International Journal of Economic Entrepreneurship and Business Management
Rendy Aziz Syahputra
Sekolah Tinggi Ilmu Ekonomi Mujahidin
Economics, Econometrics & Finance

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Analysis of Bankruptcy Prediction at PT. Indofarma Tbk uses the Altman Z-Score Method for the 2021-2023 Period: Analisis Prediksi Kebangkrutan pada PT. Indofarma Tbk menggunakan Metode Altman Z-Score Periode 2021-2023 Moh. Rasyid; Martha Martha; Edi Yanto; Rendy Aziz Syahputra; Masri Arfandi
International Journal of Economic Entrepreneurship and Business Management Vol. 1 No. 3 (2026): Strategic Management Transformation in the Digital Era and Global Uncertainty
Publisher : STIE MUJAHIDIN TOLITOLI

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.65212/ax3jjc65

Abstract

This research aims to find out the potential for bankruptcy in PT. Indofarma Tbk uses the Altman Z-Score method for the 2021-2023 period. The type of research used is quantitative descriptive. The secondary data source is in the form of financial statements of PT. Indofarma Tbk for the 2021-2023 period accessed through the www.idx.co.id website The data analysis method used used was using the Modified Altman Z-Score method which used four variables, namely: Working capital/total assets (X1), retained earnings/total assets (X2), Earnings before interest and taxes/total assets (X3), net book equity/total book value (X4). Based on the results of the analysis and discussion, it was concluded that by using the Altman Z-Score method PT. Indofarma Tbk for the 2021-2023 period is classified as a company that is predicted to experience bankruptcy. This is characterized by a Z-Score result below 1.1, meaning a critical financial condition. The significant decline in various financial ratios, including liquidity and profitability, reflects the ever-increasing accumulation of losses and increasingly pronounced bankruptcy ratios.
Co-Authors Edi Yanto Martha Martha Masri Arfandi Moh. Rasyid