<![CDATA[Main Objectives: To analyze and evaluate the financial performance of PT Mayora Indah Tbk in 2024 and 2025 across liquidity, activity, solvency, and profitability dimensions.Background Problem: Despite experiencing a nominal net sales growth of 7.23% in 2025, PT Mayora Indah Tbk faced a 5.14% drop in net profit, revealing potential operational inefficiencies and margin pressures that require structured empirical evaluation.Novelty: Provides an up-to-date comparative financial ratio analysis post-2024 recovery, highlighting the strategic trade-off between strong short-term liquidity/solvency and operational activity slowdowns in the fast-moving consumer goods (FMCG) sector.Research Methods: A descriptive-quantitative study with a comparative time-series approach using audited financial statements published on the Indonesia Stock Exchange (IDX).Findings and Results: Liquidity improved significantly (Current Ratio from 2.65x to 3.38x; Quick Ratio from 1.78x to 2.42x), and solvency strengthened (DAR from 42.47% to 41.48%; DER from 73.83% to 70.89%). However, activity ratios showed slower turnarounds (Receivable Turnover dropped from 5.45x to 4.90x; Inventory Turnover from 7.22x to 6.21x), leading to profitability contraction (NPM fell from 8.50% to 7.52%, ROE from 17.94% to 15.85%, and ROA from 10.32% to 9.27%).Conclusion: PT Mayora Indah Tbk maintains a solid liquidity and capital structure foundation, but strategic intervention in working capital management and cost efficiency is essential to prevent further margin erosion.]]>
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