<![CDATA[This study aims to analyze and compare the potential financial distress of PT Fajar Surya Wisesa Tbk for the period 2021–2025 using the Altman Z-Score, Springate, and Zmijewski Models. This research is a quantitative descriptive study using secondary data in the form of the company's annual financial statements obtained from the Indonesia Stock Exchange and the company's official website. The analysis was conducted by calculating the values of each prediction model and then comparing the results to determine the company's financial condition. The research results indicate that the Altman Z-Score Model shows a decline in the company's financial condition from 2021 until it experiences financial distress in 2024, then begins to improve in 2025. The Springate Model consistently predicts that the company experiences financial distress throughout the study period, while the Zmijewski Model shows the company in a healthy condition, except in 2024. Overall, the three models show a tendency for the financial condition to decline until 2024 and then start to improve in 2025, with the Springate Model being the most sensitive in detecting potential financial distress.]]>
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