PROFITABILITY ANALYSIS DURING THE PANDEMIC ERA IN PT GUDANG GARAM Tbk

Abstract

This study has a purpose, namely to find out 1). What is the
development of profitability/ROI before and after the pandemic period? 2)
How does the turnover of a company's receivables have an impact on profit? 3)
How is the management of working capital affecting the company's
operations? 4) What is the impact of the addition of assets to the increase in
sales? In this study, the object of research is the financial statements for the
2017-2021 period which includes items in the balance sheet and income
statement. The data collection method used in this research is documentation
from the company's published annual report. The data analysis method used in
this research is financial ratio analysis. Based on the results of the study, it is
known that the level of profitability is less than optimal as seen from 1) The
overall working capital turnover can be said to be not good because it is below
the general standard of the industry average of 6 times. Consecutively from
2017 to 2021 the ratios are respectively: 3.9 times, 4.1 times, 4.1 times, 3.5
times, and 4.03 times. 2) The overall cash turnover can be said to be good
because it is above the general standard of the industry average of 10 times. In
a row, from 2017 to 2021, the ratios are 35.77 times, 47.05 times, 30.94 times,
23.98 times, and 29.94 times. 3) Accounts receivable turnover as a whole can
be said to be good because it is above the general standard of the industry
average of 7.2 times. Consecutively from 2017 to 2021 the ratios are
respectively: 37.37 times, 55.45 times, 59.91 times, 44.78 times, and 45.02
times. 4) The overall inventory turnover can be said to be poor because it is
below the general standard of the industry average of 3.4 times. Consecutively
from 2017 to 2021 the ratios are respectively: 1.70 times, 1.72 times, 2.05
times, 2.43 times, and 2.33 times. 5) Return on Investment (ROI) as a whole
can be said to be good because it is above the general standard of the industry
average of 5.08%. Consecutively from 2017 to 2021 the ratios are: 8.7%, 8.7%,
13.8%, 9.8%, and 6.2%.