ANALISIS PREDIKSI FINANCIAL DISTRESS DENGAN METODE ALTMAN Z-SCORE PADA PT WASKITA KARYA TBK

Abstrak

This study aims to determine how big the prediction of financial distress and potential bankruptcy at PT Waskita Karya Tbk. This type of quantitative descriptive research. The population used is the financial statements of PT Waskita Karya Tbk which are accessed through the website www.idx.co.id in the form of financial reports from 2019-2020. The analysis technique used is the Altman Z-Score method which uses five ratios, namely the ratio of working capital to total assets (X_1), the ratio of retained earnings to total assets (X_2), the ratio of earnings before interest and taxes to total assets (X_3), the ratio book value of equity to book value of total debt (X_4), ratio of sales to total assets (X_5). The criteria used in this method are if the Z value <1.81 the company is predicted to go bankrupt, if the value 1.81> Z <2.99 the company has the potential to go bankrupt, and if the Z value> 2.99 then the company is in good health and does not have the potential for bankruptcy. The results of this study indicate that PT Waskita Karya Tbk is predicted to experience financial distress and bankruptcy during 2019-2020. Where, in 2020, the Z-Score results show a small number even below 0, namely -0.08. So if this value is below 1.81, it can be concluded that PT Waskita Karya Tbk is predicted to be prone to bankruptcy or experience financial distress.