Analisis kinerja keuangan PT Indo Tambangraya Megah pada sektor energi di Bursa Efek Indonesia: Studi rasio keuangan 2019-2024 - Satria, Adam Muhamad; Suciati, Ranila (PT WIM Solusi Prima, 2025)
This study aims to analyze the financial performance of PT Indo Tambangraya Megah (ITMG), which represents the energy sector on the Indonesia Stock Exchange, during the period 2019–2024. An analysis of key financial ratios, including liquidity, solvency, activity, profitability, and market ratios (PER and PBV), was used to assess the stability and effectiveness of the company's performance. The results of the analysis show that ITMG has high liquidity, a conservative capital structure, and strong profitability despite fluctuations in line with global coal price dynamics. The activity ratio indicates good operational efficiency, while the relatively low market valuation (PER and PBV) indicates potential undervaluation. Overall, ITMG's financial position is considered healthy and stable compared to the energy sector average, making it a stock worth considering for medium to long-term investment, although the risks of energy transition and global commodity price volatility need to be watched. Penelitian ini bertujuan untuk menganalisis kinerja keuangan PT Indo Tambangraya Megah (ITMG) yang mewakili sektor energi di Bursa Efek Indonesia selama periode 2019–2024. Analisis rasio keuangan utama rasio likuiditas, solvabilitas, aktivitas, profitabilitas, serta rasio pasar (PER dan PBV) digunakan untuk menilai stabilitas dan efektivitas kinerja perusahaan. Hasil analisis menunjukkan bahwa ITMG memiliki likuiditas tinggi, struktur modal konservatif, serta profitabilitas yang kuat meskipun berfluktuasi seiring dinamika harga batu bara global. Rasio aktivitas menunjukkan efisiensi operasional yang baik, sementara valuasi pasar (PER dan PBV) yang relatif rendah mengindikasikan potensi undervaluation. Secara keseluruhan, posisi keuangan ITMG dinilai sehat dan stabil dibandingkan rata-rata sektor energi, menjadikannya saham yang layak dipertimbangkan untuk investasi jangka menengah hingga panjang, meskipun perlu diwaspadai risiko transisi energi dan volatilitas harga komoditas global.