SKRIPSI DIGITAL
Penerapan Analisis Prediksi Kebangkrutan Menggunakan Metode Skor Z Altman (Studi Kasus pada Perusahaan Tekstil yang Terdaftar di Bursa Efek Indonesia untuk Periode 2019-2023) = Implementation of Bankruptcy Prediction Analysis Using the Altman Z-Score Method (Case Study of Textile Companies Listed on the Indonesia Stock Exchange for the Period 2019-2023)
ABSTRACT
Rasendriya Taruwara Resnanda “Implementation Of Bankruptcy Prediction Analysis With Altman’s Z-Score Method (A Case Study On The Textile Companies Listed On The Indonesian Stock Exchange For The Period of 2019-2023)”. Bachelor Thesis Applied Managerial Accounting, Department of Accounting, Semarang State Polytechnic, under the guidance of Dra. Lardin Korawijayanti, M.M. and Drs. Toni Hartono, Mpd.., February 2025, 133 pages.
The financial stability of companies is a critical concern for investors, creditors, and other stakeholders, particularly in volatile industries such as textiles. With the purpose of this research is to know the Altman Z-Score analysis to give prediction at the loss rate of textile and garments subsector companies written at Indonesia Stock Exchange. Sampling method that used is purposive sampling and the result are 22 firms used as sample in this research. This study uses the Altman Z-Score model to evaluate and forecast the bankruptcy risk of textile businesses listed on the Indonesia Stock Exchange (IDX) for the years 2019–2023. A combination of financial ratios, including working capital to total assets, retained earnings to total assets, EBIT to total assets, market value of equity to total liabilities, and sales to total assets, are used by the Altman Z-Score model, a bankruptcy prediction tool, to evaluate a company's financial health. Annual financial reports from textile companies listed on the IDX over five years serve as secondary data for this study. To determine the Z-Score and classify the companies into safe, gray, or distress zones, a quantitative analysis method is utilized. The results show that most textile enterprises are at high risk of going bankrupt since they are in the gray or distress zones. Unstable profitability and high debt-to-asset ratios are the main factors affecting the Z-Score. These results give management of the organization useful information to enhance financial performance and lower the danger of bankruptcy. The findings also help stakeholders and investors make well-informed choices about their investments in the textile industry.
Keywords: Altman Z-Score, bankruptcy, textile companies, Indonesia Stock Exchange, financial analysis.
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