Analysis of Bankruptcy Potential with Altman Z-Score Method at PT Matahari Department Store Tbk

Putri, Ni Putu Dian Ariani and Sudana, I Made and Jaya, I Made Sura Ambara (2022) Analysis of Bankruptcy Potential with Altman Z-Score Method at PT Matahari Department Store Tbk. Repositori Politeknik Negeri Bali.

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Abstract

This research was conducted because of the bankruptcy issue at PT Matahari Department Store Tbk. The purpose of this study is to analyze the potential for bankruptcy and its causes at PT Matahari Department Store Tbk for the 2018-2021 period. Analyzing the potential for bankruptcy will help the company to make decisions and policies to keep the company running.research is a qualitative research that uses financial ratio analysis. The data source used is secondary data, namely the financial information of PT Matahari Department Store Tbk for the 2018-2021 period which was obtained through the Indonesia Stock Exchange website. Data analysis used financial ratio analysis with Altman Z-Score Modification method which was carried out descriptively.The results of the analysis show that the condition of the company PT Matahari Department Store Tbk in 2018, 2019 and 2021 is in a healthy condition with a Z-Score value above the Z cut off point > 2.6, namely in 2018 a value of 6.3810 or 638% was obtained, in 2018. In 2019 a value of 6.7160 or 672% was obtained and in 2021 a value of 3.2971 or 330% was obtained. However, in 2020 the company's condition declined to a vulnerable condition with a Z-Score value of -0.1635 or -16% where the value was below the cut off point Z <1.1. The vulnerable condition in 2020 is due to a decrease in the four financial ratios and two negative financial ratios Keywords: Financial Ratios, Analysis Ratio, Bankruptcy Potential, Altman Z-Score Method

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