PENILAIAN ANALISIS RASIO KEUANGAN DAN ECONOMIC VALUE ADDED PADA PERUSAHAAN DI BEI

Abstract

This study aims to determine the financial performance of companies PT Mayora Indah Tbk (MYOR) and PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) using Economic Value Added (EVA). The method used in this study is descriptive qualitative. The type of data uses secondary data in the form of financial statements for the period 2014-2017 and the analysis technique used is financial ratio analysis. Based on the results of the analysis, it can be seen that ULTJ liquidity has good liquidity calculated using (CR and QR), calculated activity ratios (average age of accounts receivable, ITO, FATO and TATO) indicating MYOR has a better activity ratio, solvability ratio (DAR and DER) MYOR has a good solvency level, and profitability ratios (NPM, ROA, ROE) indicate the company (ULTJ) has a high level of profitability. Based on the financial ratio analysis shows (ULTJ) has a better performance. The EVA calculation shows MYOR has a negative value in 2014 and ULTJ has a negative EVA value in 2017, so that both companies have not been able to meet the expectations of funders or in other words net income is smaller than the weighted capital cost.
Keywords: company performance, financial ratios, economic value added.