<![CDATA[This study aims to analyze the financial performance of PT Blue Bird Tbk during the 2020–2023 period using financial ratio analysis, including liquidity, solvency, activity, and profitability ratios. The results showed that the company’s liquidity ratios fluctuated and the current ratio remained below the industry average, although the quick ratio and cash ratio indicated relatively good conditions. The solvency ratios demonstrated that the company maintained a relatively healthy capital structure, as the use of debt remained below industry standards. Activity ratios improved, particularly in receivable turnover, working capital turnover, and fixed asset turnover, although total asset turnover was still relatively low. Meanwhile, profitability ratios indicated that the company’s ability to generate profit remained below the industry average despite improvements in 2022–2023 following the impact of the COVID-19 pandemic. Overall, the company’s financial performance reflected a gradual post-pandemic recovery process; however, improvements in operational efficiency and asset utilization are still required to enhance overall financial performance.]]>
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