Analysis of Profitability and Liquidity Ratios to Evaluate the Financial Performance of PT Sreeya Sewu Tbk for the Period 2019–2023
DOI:
https://doi.org/10.56127/jekma.v4i2.2102Keywords:
Financial Performance, Profitability Ratios, Liquidity Ratios, COVID-19 Impact, PT Sreeya Sewu Indonesia TbkAbstract
This study aims to assess the financial performance of PT Sreeya Sewu Indonesia Tbk from 2019 to 2023 using profitability and liquidity ratios. Financial performance is a critical indicator for evaluating a company's ability to generate profits and manage short-term obligations. The profitability ratios used include Net Profit Margin (NPM), Return on Equity (ROE), and Return on Assets (ROA), while the liquidity ratios include the Current Ratio, Quick Ratio, and Cash Ratio. The data analyzed were derived from the company’s financial statements, particularly the balance sheets and income statements over a five-year period. The results reveal a consistent decline in the company's financial performance. The NPM fell from a positive 1.94% in 2019 to negative values in 2021 and 2022, indicating decreasing net income despite increasing revenue. ROE and ROA also showed deteriorating trends, with ROE falling as low as -30.10% in 2022 and ROA dropping to -7.26%, suggesting inefficiency in using equity and assets to generate profits. Furthermore, liquidity ratios such as the Quick Ratio and Cash Ratio were significantly below industry standards, indicating a limited ability to meet short-term liabilities. The COVID-19 pandemic played a pivotal role in this performance downturn, causing supply chain disruptions, reduced market demand, and higher operational costs. Although minor recovery signs were observed in 2023, the overall financial condition remained below industry benchmarks. These findings highlight the need for PT Sreeya Sewu Indonesia Tbk to implement strategic financial restructuring and improve efficiency to ensure long-term financial sustainability.
References
Agustin, A., & Rismanty, V. A. (2022). Analisis rasio profitabilitas dan rasio likuiditas untuk mengukur kinerja keuangan perusahaan pada PT Indo Kordsa Tbk periode 2017–2021. Jurnal Ilmiah Swara Manajemen, 2(4), 542–553.
Azhar Cholil, A. (2021). Analisis rasio likuiditas dan profitabilitas untuk menilai kinerja keuangan perusahaan PT Berlina Tbk tahun 2014–2019. Jurnal Ekonomi Manajemen Sistem Informasi, 2(3), 401–413. https://doi.org/10.31933/jemsi.v2i3.420
Dr. Sugiyono. (2021). Metode penelitian kuantitatif dan kualitatif (pp. 103–110). Bandung: Alfabeta.
Dwiningwarni, S. S., & Jayanti, R. D. (2019). Analisis rasio keuangan untuk mengukur kinerja keuangan koperasi serba usaha. J-MACC: Journal of Management and Accounting, 2(2), 125–142. https://doi.org/10.52166/j-macc.v2i2.1659
Firdausi, N. I. (2020). Analisis pengaruh rasio likuiditas dan solvabilitas terhadap profitabilitas pada PT Garuda Indonesia. Kaos GL Dergisi, 8(75), 147–154.
Grediani, E., Saputri, E., & Hanifah, H. (2022). Analisis rasio solvabilitas, likuiditas, dan aktivitas terhadap kinerja keuangan perusahaan di sektor perdagangan yang terdaftar di BEI periode 2016–2020. Jurnal Ilmiah Akuntansi dan Keuangan, 11(1), 51–65. https://doi.org/10.32639/jiak.v11i1.62
Harahap, S. S. (2016). Analisis kritis atas laporan keuangan (pp. 90–93). Depok: PT RajaGrafindo Persada.
Hery. (2018). Analisis laporan keuangan (pp. 138–140). Jakarta: Gramedia.
Hutabarat, F. (2020). Analisis kinerja keuangan perusahaan (pp. 109–130). Banten: Desanta Muliavisitama.
Irham, F. (2015). Analisis laporan keuangan (pp. 108–215). Bandung: Alfabeta.
Irham Fahmi. (2014). Analisis kinerja keuangan (pp. 214–215). Bandung: Alfabeta.
Jati, A. W., & Jannah, W. (2022). Analisis kinerja keuangan perusahaan sebelum pandemi dan saat pandemi Covid-19. Jurnal Akademi Akuntansi, 5(1), 34–46. https://doi.org/10.22219/jaa.v5i1.18480
Kasmir. (2015). Analisis laporan keuangan (pp. 89–215). Depok: Rajawali Pers.
Masita, N., Hariatih, H., & Nianty, D. A. (2023). Analisis kinerja keuangan menggunakan rasio likuiditas dan profitabilitas pada PT Bank Rakyat Indonesia (Persero) Tbk. Jurnal Malomo: Manajemen dan Akuntansi, 1(2), 203–214.
Munawir. (2014). Analisis laporan keuangan (pp. 31–32). Yogyakarta: Liberty.
Murwanti, S., & Mulyono. (2015). Analisis pengaruh rasio keuangan terhadap harga saham perusahaan perbankan yang terdaftar di Bursa Efek Indonesia (BEI) tahun 2010–2012. Benefit: Jurnal Manajemen dan Bisnis, 19(2), 136–141.
Pebriani, R. A., & Ramdhani, S. D. (2020). Analisis rasio profitabilitas, likuiditas, dan solvabilitas dalam mengukur kinerja keuangan pada koperasi karyawan BUMN di Palembang periode 2016–2018 (Studi kasus Kopkar PUSRI & Kopkar Semen Baturaja). Jurnal Ilmiah Ekonomi Global Masa Kini, 11(2), 120–126. https://doi.org/10.36982/jiegmk.v11i2.1194
Putra, A. R. (2020). Analisis pengaruh rasio likuiditas dan solvabilitas terhadap profitabilitas pada PT Garuda Indonesia. (Unpublished article), 2507(February), 1–9.
Riduan, N. W., Anggarani, D., & Zainudin. (2021). Analisis rasio keuangan untuk mengukur kinerja keuangan perusahaan sebelum dan sesudah pandemi COVID-19 pada PT Semen Indonesia (Persero) Tbk. Conference on Economic and Business Innovation (CEBI), 1(1), 347–357.
Riesmiyantiningtias, N., & Siagian, A. O. (2020). Analisis laporan keuangan untuk menilai kinerja keuangan perusahaan pada PT Midi Utama Indonesia Tbk. Jurnal AKRAB JUARA, 5(November), 244–254.
Sujarweni, V. W. (2017). Analisis laporan keuangan (pp. 71–73). Yogyakarta: Pustaka Baru Press.
Sukmawati Sukamulja. (2022). Analisis laporan keuangan (pp. 90–94). Jakarta: Erlangga.
Tyas, N. H., & Almurni, S. (2020). Real estate yang terdaftar di Bursa Efek Indonesia tahun 2015–2018. Jurnal Sekolah Tinggi Ilmu Ekonomi Indonesia, 10(2017), 1–17.
Uleng, A., & Muttalib, A. (2024). Analisis profitabilitas dan likuiditas untuk menilai kinerja keuangan pada PT Pabrik Kertas Tjiwi Kimia Tbk. Innovative: Journal of Social Science Research, 4(1), 428–440.
Yuniarti, R., Haeruddin, M. I. W., Anwar, A., Sahabuddin, R., & Ruma, Z. (2023). Analisis tingkat likuiditas dan profitabilitas PT Indofood Sukses Makmur Tbk di Bursa Efek Indonesia. Kompeten: Jurnal Ilmiah Ekonomi dan Bisnis, 2(1), 296–306.
