Analisis Financial Distress Altman Z-Score: Studi Perusahaan Subsektor Textile & Garmen Tahun 2024

Muhammad Atibbaul Muna (Sekolah Tinggi Ilmu Ekonomi Totalwin)
Anisa Kusumawardani (Sekolah Tinggi Ilmu Ekonomi Totalwin)

Jurnal Ilmiah Manajemen, Bisnis dan Kewirausahaan
Vol. 6 No. 2 (2026): Juni, Jurnal Ilmiah Manajemen, Bisnis dan Kewirausahaan

This study aims to analyze the financial distress condition of textile and garment sub-sector companies listed on the Indonesia Stock Exchange in 2024 using the Altman Z-Score model. This research employs a quantitative approach using secondary data obtained from corporate financial statements. The research sample consists of 21 companies selected through purposive sampling. The results indicate that 10 companies are classified in the safe zone, 4 companies are in the grey zone, and 7 companies are in the distress zone. The bankruptcy case of PT Sri Rejeki Isman Tbk (SRIL) is consistent with the Z-Score results, which indicate severe financial distress. This study confirms that the Altman Z-Score model can serve as an effective early warning system for detecting potential corporate bankruptcy.