ANALISIS PREDIKSI KEBANGKRUTAN DENGAN METODE ALTMAN Z-SCORE DAN SPRINGATE PADA PERUSAHAAN TEKSTIL DAN GARMEN YANG TERDAFTAR DI BEI

Abstract

Bankruptcy is a situation where companies are not able to re-run their business. This kind of situation can be known with the analysis of bankruptcy prediction by having a financial balance report and income statements. This research aimed to predict the companies’ bankruptcy with Altman Z-Score and Springate. Also, it aimed to analyze the differences between those two methods. The data collection technique used purposive sampling. In line with that, there were companies from 21 Textile and Garment companies which were listed on Indonesia Stock Exchange during 2018-2020 and had declining sales in 2020. The methods used were Altman Z-Score and Springate. The research result concluded that there were differences between the results of bankruptcy prediction using Z-Altman Score and Springate. The bankruptcy prediction using Altman Z-Score showed that there were 6 companies in the category of prone to bankruptcy. Meanwhile, through Springate, there were 3 companies which were in the category of prone to bankruptcy namely, PT Trisula International Tbk, PT Trisula Textile Industries Tbk, dan PT Mega Perintis Tbk. In addition, there were 3 companies which in the category of bankruptcy, i.e. PT Ricky Putra Globalindo Tbk, PT Eratex Djaja Tbk, and PT Golden Flower Tbk.