This study aims to analyze the financial performance of PT Aneka Tambang (Persero) Tbk for the 2020-2024 period using the CAMEL method, which includes the components of Capital, Asset Quality, Management, Earnings, and Liquidity. The data were sourced from audited annual financial statements, with six main ratios as measurement tools: CAR, KAP, NPM, ROA, BOPO, and CR. The results show that CAR consistently remained in the very good category (60,01%–72,74%), while KAP improved significantly in 2023-2024 after previously being rated unhealthy. The overall CAMEL score increased from 57,46 (Less Healthy) in 2020 to 71,69 (Fairly Healthy) in 2024, peaking at 73,58 in 2023. These findings reflect a clear trend of financial performance improvement, although the company still needs to optimize productive asset management to achieve the Healthy predicate.
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