Assessing a Company's Financial Resilience: An Analysis of CR, DAR, and AKO on Profitability
Keywords:
Return on Asset, Current Ratio, Debt to Asset Ratio, Operating Cash Flow RatioAbstract
This study aims to analyze the influence of Current Ratio (CR), Debt to Asset Ratio (DAR), and Operating Cash Flow Ratio (AKO) on Return on Asset (ROA) as an indicator of profitability in PT Perkebunan Nusantara IV Medan. The research uses a descriptive method with a quantitative approach. The data used is in the form of company financial statements, with documentation techniques as a method of data collection. The results show that ROA experienced a significant decrease in 2022–2023 (9.6% and 1.9%), influenced by a decrease in net profit after tax. The Current Ratio has increased but is still below the industry standard. The Debt to Asset Ratio increased significantly from 48.7% to 66.2%, indicating a high dependence on debt. The Operating Cash Flow Ratio has decreased and is well below standard. These findings indicate liquidity pressures, suboptimal asset efficiency, and high debt burdens.
References
Chasanah, A. N. (2019). Pengaruh rasio likuiditas, profitabilitas, struktur modal, dan ukuran perusahaan terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di BEI tahun 2015–2017. Jurnal Penelitian Ekonomi dan Bisnis, 3(1), 39–47. https://doi.org/10.33633/jpeb.v3i1.2287
Halawa, D., Jusmarni, & Ramadhani, S. (2024). Pengaruh arus kas terhadap return on asset pada perusahaan perbankan yang terdaftar di Bursa Efek Indonesia periode 2019–2022. Kompeten: Jurnal Ilmiah Ekonomi dan Bisnis, 3(2), 945–954. https://doi.org/10.57141/kompeten.v3i2.138
Jufrizen, & Nasution, M. F. (2016). Pengaruh return on assets, total assets turnover, quick ratio, dan inventory turnover terhadap debt to assets ratio pada perusahaan jasa sub sektor perdagangan besar barang produksi yang terdaftar di Bursa Efek Indonesia. Jurnal Riset Akuntansi dan Bisnis, 16(1), 45–70.
Nainggolan, E. P., & Febriansyah, A. R. (2021). Pengaruh rasio profitabilitas dan biaya operasional terhadap PPh badan terutang pada perusahaan sub sektor makanan dan minuman yang terdaftar di BEI tahun 2015–2019. Seminar Nasional Teknologi Edukasi dan Humaniora, 1(1), 1–8.
Nursita, M. (2021). Pengaruh laba akuntansi, arus kas operasi, arus kas investasi, arus kas pendanaan, dan ukuran perusahaan terhadap return saham. Going Concern: Jurnal Riset Akuntansi, 16(1), 1. https://doi.org/10.32400/gc.16.1.32435.2021
Prakoso, D. N., & Boentoro, S. (2011). Analisis pengaruh BI rate, return on asset, dan return on equity terhadap return saham PT Tambang Batubara Bukit. Jurnal Akuntansi, 160–169.
Putri, L. P. (2015). Pengaruh profitabilitas terhadap harga saham pada perusahaan pertambangan batubara di Indonesia. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 16(2), 39–55.
Ramaadhianti, V., Septiwidya, W., Juwainah, Salsabila, A. W., Septianay, A. D., & Yulaeli, T. (2023). Faktor-faktor yang mempengaruhi current ratio, debt equity ratio, debt asset ratio, dan perputaran modal kerja terhadap return on asset. Jurnal Publikasi Ilmu Manajemen, 2(3), 137–152. https://doi.org/10.55606/jupiman.v2i3.2223
Ramadhan, P. R., & Nasution, D. A. D. (2020). Analisis determinan harga saham perusahaan sektor agriculture yang terdaftar di Bursa Efek Indonesia. Jurnal Riset Akuntansi dan Bisnis, 20(2), 2623–2650.
Sanjaya, S., & Sipahutar, R. P. (2019). Pengaruh current ratio, debt to asset ratio, dan total asset turnover terhadap return on asset pada perusahaan otomotif dan komponennya yang terdaftar di Bursa Efek Indonesia. Jurnal Riset Akuntansi dan Bisnis, 19(2), 136–150. https://doi.org/10.30596/jrab.v19i2.4599
Saragih, M., Siahaan, Y., Purba, R., & Supitriyani. (2015). Pengaruh current ratio terhadap return on asset pada perusahaan sektor aneka industri yang listing di Bursa Efek Indonesia. Jurnal Financial, 1(1), 19–24.
Sianturi, H., & Wibowo, A. A. B. S. (2022). Pengaruh arus kas operasi, laba bersih, ukuran perusahaan, dan price book value terhadap harga saham. Jurnal Liabilitas, 7(1), 32–43. https://doi.org/10.54964/liabilitas.v7i1.185
Siregar, Q. R., & Farisi, S. (2018). Pengaruh return on asset, return on equity, dan earning per share terhadap harga saham. Jurnal Ilmiah Magister Manajemen, 1(2), 123. https://doi.org/10.31599/jmu.v2i2.774
Syahriah, D., & Purba, D. (2013). Analisis laporan keuangan.
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Edisah Putra Nainggolan
This work is licensed under a Creative Commons Attribution 4.0 International License.
Simposium Ilmiah Akuntansi under the terms of a Creative Commons Attribution 4.0 International License / CC BY 4.0 This license permits anyone to copy and redistribute this material in any form or format, compose, modify, and make derivative works of this material for any purpose, including commercial purposes, so long as they include credit to the Author of the original work.
