ANALISIS RASIO KEUANGAN DAN METODE ECONOMIC VALUE ADDED UNTUK MENILAI KINERJA KEUANGAN

Abstract

The financial statement is regarded to be insufficient to assess the financial performance accurately.
The Economic Value Added (EVA) is required as an analysis instrument in order to assess the
financial statement. The purpose of this research is to find out the financial performance by using
financial ratio analysis and the Economic Value Added (EVA) method. The type of the research is
descriptive research and qualitative approach. The objects of the research are PT. Semen Indonesia
(Persero), Tbk, PT. Indocement Tunggal Prakarsa, Tbk, and PT. Holcim Indonesia, Tbk. The result of
this research shows the companies which have met the average standard of industry by using the
calculation of financial ratio are PT. Indocement Tunggal Prakarsa, Tbk and PT. Semen Indonesia
(Persero), Tbk, even though the calculation of Current Ratio of PT. Semen Indonesia (Persero), Tbk is
unable to meet the average standard of industry but its value is more than 200% and the calculation of
Quick Ratio is unable to meet the average standard of industry. Meanwhile, PT. Holcim Indonesia,
Tbk is the company which cannot meet the average standard of industry because the total calculation
of its financial ratio is under the average standard of industry of cement companies. The result of the
calculation of the EVA method shows that all cement companies have positive result or these
companies have succeeded in creating economic value added. Even though, in 2010, PT. Indocement
Tunggal Prakarsa, Tbk showed negative value of the EVA or in that year the company had not
succeeded in creating economic value added.

Keywords: financial ratio, EVA, financial Performance.