Windi Ayuningtyas, Yesha Fatikah Sari, Kinanti Aulia, Noni Gloria Yataluan

Analisis Du Pont System untuk Menilai Kinerja Keuangan PT Mayora Indah Tbk

Introduction

Analisis du pont system untuk menilai kinerja keuangan pt mayora indah tbk . Analisis kinerja keuangan PT Mayora Indah Tbk 2023-2024 dengan Du Pont System. Menyoroti penurunan ROE, efisiensi aset, dan laba. Rekomendasi peningkatan operasional.

Abstract

This study aims to analyze the financial performance of PT Mayora Indah Tbk using the Du Pont System approach. This method decomposes Return on Equity (ROE) into three main components: Net Profit Margin (NPM), Total Asset Turnover (TATO), and Equity Multiplier (EM). The research employs secondary data from the company’s 2023 and 2024 financial statements. The findings reveal that despite an increase in net sales, the company experienced a decline in net profit, asset efficiency, and ROE. ROE decreased from 21.29% in 2023 to 17.84% in 2024, influenced by a reduction in NPM and TATO, along with a rise in EM. This decline indicates pressures on profitability and asset efficiency. Therefore, the company should enhance operational efficiency and manage its capital structure effectively to sustain optimal financial performance.

Review

This study, "Analisis Du Pont System untuk Menilai Kinerja Keuangan PT Mayora Indah Tbk," presents a clear and focused objective: to evaluate the financial performance of a prominent Indonesian company using the well-established Du Pont System. The selection of PT Mayora Indah Tbk is pertinent, given its significant presence in the consumer goods sector, making the analysis relevant to investors, analysts, and company management alike. The chosen methodology, decomposing Return on Equity (ROE) into Net Profit Margin (NPM), Total Asset Turnover (TATO), and Equity Multiplier (EM), is sound and appropriate for diagnosing the drivers of financial performance. The research appears well-structured, utilizing secondary data from recent financial statements to provide a current assessment. The abstract effectively summarizes the key findings, indicating a concerning trend for PT Mayora Indah Tbk. Despite an increase in net sales, the company experienced a decline in net profit, asset efficiency, and consequently, a reduction in ROE from 21.29% in 2023 to 17.84% in 2024. The detailed breakdown reveals that this decline was primarily driven by a reduction in NPM and TATO, partially counteracted or potentially exacerbated by a rise in the Equity Multiplier. While these results clearly point to "pressures on profitability and asset efficiency," the abstract, by its nature, provides limited insight into the *underlying causes* of these shifts beyond the direct Du Pont components. For instance, understanding the specific factors contributing to the decline in NPM (e.g., rising costs, increased competition) or TATO (e.g., inventory management issues, slower sales conversion) would enhance the diagnostic power of the analysis. To further strengthen the research, the full paper could benefit from expanding the temporal scope beyond two years to identify longer-term trends and cyclical patterns. Incorporating comparative analysis with industry benchmarks or key competitors would also provide valuable context, allowing for a more nuanced judgment of Mayora's performance relative to its peers. Additionally, delving deeper into the qualitative factors or market conditions that influenced the reported quantitative changes would offer a richer, more actionable set of recommendations. Nevertheless, this study provides a concise and practical application of the Du Pont System, offering immediate insights into PT Mayora Indah Tbk's financial health and highlighting critical areas for management attention, particularly regarding operational efficiency and capital structure optimization.

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