ANALISIS RASIO KEUANGAN DAN EFISIENSI PERUSAHAAN PAKAN TERNAK DI INDONESIA

Darkiman Ruminta

Abstract


The purpose of this study was to determine the performance of financial ratios and efficiency of animal feed companies in Indonesia based on financial reports. This type of research is a quantitative research with research methods using financial ratio analysis and Data Envelopment Analysis (DEA). The data used are the annual financial statements for the period 2017-2019 from animal feed companies listed on the Indonesia Stock Exchange. The calculation results show; 1) analysis of the current ratio of all companies able to meet short-term obligations, 2) Debt to Assets Ratio analysis shows that on average all companies are quite good and able to pay their long-term obligations, 3) Debt to Equity Ratio analysis shows that only PT Charoen Pokphand Tbk has achieved The best ratio figure is below the ratio of 100 percent and below the industry average value, 4) Total Assets Turn Over Ratio analysis shows that all companies achieve a fairly good ratio value, 5) Analysis of Return On Investment Ratio (ROI) and Return On Equity The ratio (ROE) shows that there are 2 companies whose value is below the industry average, namely PT. Malindo Feedmill Tbk and PT. Sierad Produce Tbk, 6) analysis of the average gross margin of the animal feed industry during the study period was in the range of 10.05 percent to 21.19 percent with an average of 11.21 percent, and 7) analysis of the efficiency tests of PT Charoen Pokphand Tbk and PT Sierad Produce Tbk which are efficient whose value reaches 100%, while other companies PT Japfa Comfeed Tbk and PT Malindo Feedmill Tbk are not yet efficient because the numbers do not reach 100%. Based on the results of financial ratio analysis and company efficiency tests, it was found that there was only one company that had excellent and efficient financial performance, namely PT Charoen Pokphand Tbk. While the other three companies, namely PT. Japfa Comfeed Tbk, PT. Malindo Feedmill Tbk and PT. Sierad Produce Tbk, in terms of financial ratios, is quite dynamic.

 

Keywords: Financial Ratios, Efficiency, Animal Feed Companies

 

ABSTRAK

 

Tujuan penelitian ini adalah untuk mengetahui kinerja rasio keuangan dan efisiensi perusahaan pakan ternak di Indonesia berdasarkan laporan keuangan. Jenis penelitian ini adalah penelitian kuantitatif dengan metode penelitian menggunakan analisa rasio keuangan dan Data Envelopment Analysis (DEA). Data yang digunakan adalah laporan keuangan tahunan periode tahun 2017-2019 dari perusahaan pakan ternak yang terdaftar di Bursa Efek Indonesia. Hasil perhitungan menunjukkan; 1) analisa current rasio seluruh perusahaan mampu memenuhi kewajiban jangka pendeknya, 2) analisa Debt to Assets Ratio secara rata rata seluruh perusahaan cukup baik dan mampu membayar kewajiban jangka panjangnya, 3) analisa Debt to Equity Ratio hanya PT Charoen Pokphand Tbk yang mencapai angka rasio terbaik di bawah angka rasio 100 persen dan di bawah nilai rata-rata industri, 4) analisa Total Assets Turn Over Ratio seluruh perusahaan mencapai nilai rasio yang cukup baik, 5) analisa Return On Investment Ratio (ROI) dan Return On Equity Ratio (ROE) ada 2 perusahaan yang nilainya di bawah rata-rata industri yaitu PT. Malindo Feedmill Tbk dan PT. Sierad Produce Tbk, 6) analisa gross margin rata-rata industri pakan ternak selama periode penelitian berada di kisaran 10.05 persen sampai 21.19 persen dengan rata-rata 11.21 persen, dan 7) uji efisiensi menggambarkan PT Charoen Pokphand Tbk dan PT Sierad Produce Tbk yang efisien karena nilainya mencapai angka 100%, sedangkan PT Japfa Comfeed Tbk dan PT Malindo Feedmill Tbk belum efisien karena angkanya tidak mencapai 100%. Berdasarkan hasil analisa rasio keuangan dan uji efisiensi perusahaan ditemukan bahwa hanya ada satu perusahaan yang secara kinerja keuangan sangat baik dan efisien yaitu PT Charoen Pokphand Tbk. Sedangkan tiga perusahaan lainnya yaitu PT. Japfa Comfeed Tbk, PT. Malindo Feedmill Tbk dan PT. Sierad Produce Tbk secara rasio keuangan angkanya cukup dinamis.

 

Kata kunci: Rasio Keuangan, Efisiensi, Perusahaan Pakan Ternak

 


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DOI: https://doi.org/10.15408/saj.v1i1.20070 Abstract - 0 PDF - 0

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