ANALISIS ALTMAN Z-SCORE UNTUK MEMPREDIKSI KEBANGKRUTAN PADA PERUSAHAAN FOOD AND BEVERAGE GO PUBLIC

Abstract

This research aims to predict the potential for bankruptcy in Food and Beverage companies which listed in the Indonesia Stock Exchange using Altman Z-Score analysis. The data analyzed is secondary data in the form of company financial report data for the period of 2013-2016. The sampling technique used is purposive sampling. The sample of research are 3 companies, namely PT Sekar Bumi Tbk, PT Siantar Top Tbk, and PT Tri Bayan Tirta Tbk. The Z-Score is calculated using five ratios, ie the working capital ratio to total assets, retained earnings to total assets, earnings before interest and taxes to total assets, capital market value to total book value of debt, and sales to total assets. The results of research conducted by Altman Z-Score model obtained the result that from three sample companies, two companies in the future in the category of bankruptcy-insolvent they are PT Sekar Bumi Tbk and PT Siantar Top Tbk and a company that in the future in the category of potentially bankrupt is PT Tri Bayan Tirta Tbk.
Keywords: Altman Z-score, bankruptcy, food and beverage company