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All Journal Akbis: Media Riset Akuntansi dan Bisnis
Anggraini, Siska Amalia
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Economics, Econometrics & Finance

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Financial Performance of Pharmaceutical Companies: Before and During COVID-19 in Indonesia Anggraini, Siska Amalia; Alfarago, Dio
Akbis: Media Riset Akuntansi dan Bisnis JURNAL AKBIS VOLUME 9 NOMOR 1 TAHUN 2025
Publisher : Universitas Teuku Umar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35308/akbis.v0i0.11526

Abstract

The Covid-19 pandemic has had a significant negative impact on Indonesia’s economy. However, not all companies experienced a crisis due to this event. PT Kimia Farma Tbk, a pharmaceutical company, managed to withstand economic turmoil. This study aims to analyze the financial performance of PT Kimia Farma Tbk before and during the Covid-19 pandemic using financial ratio analysis, including liquidity, solvency, and profitability ratios. The study compares the company’s financial condition before the pandemic (2019) and during the pandemic (2020). The results indicate that the company's liquidity ratio consistently declined, signalling a weakening ability to meet short-term liabilities. Meanwhile, the solvency ratio showed an improvement in the company's financial structure despite the ongoing pandemic. However, the company should remain cautious in managing its debt. Additionally, the profitability ratio did not show significant growth, even though the demand for Covid-19-related products increased
Co-Authors Alfarago, Dio