ANALISIS KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE PERUSAHAAN MAKANAN dan MINUMAN DI BEI

Abstract

The analysis of financial report 2014-2016 for Food and Beverages company, which were stated in Indonesia Stock Exchange, was CEKA, ICBP, INDF, MLBI, MYOR, ROTI, DLTA, SKBM, SKLT, STTP, and ULTJ. For research sampling colletion technique, this research used purposive sampling in which the method was based on consideration and criteria of companies which published audit financial report during 2014-2016. While, the data analysis used Altman Z-Score analysis. The analysis used Altman Z-Score with scoring criteria Z-Score > 2.99, which was categoiized as healthy company. In other hand, the score of between 1.81-2.99 was categorized as having potentially of bankcruptcy. It meant, there were 50%-5-% of having saved or bankcrupt. In addition , for Z-Score < 1.8 was categorized as company which had big financial problem and had highly risk; so that it had highly of bankruptcy. The research result concluded during the last three years there were two of eleven companies which were categorized having potencially of bankcruptcy, i.e. ICBP and MYOR. In addition, two of eleven companies were categorized bankrupt, namely ROTI and INDF; while, six of eleven companies were condirioned up and down, i.e. CEKA, MLBI, DLTA, SKBM, SKLT, STTP, and ULTJ.
Keyword : Altman Z-Score, food and beverages company