Indri Rama Apriyanti, Hendriyati Haryani, Anisa Pujianti, Anna Maria G Bone

Analisis Kinerja Keuangan Berdasarkan Rasio Pada Sub Sektor Pakan Ternak Yang Terdaftar Di Bursa Efek Indonesia Periode 2019 – 2023

Introduction

Analisis kinerja keuangan berdasarkan rasio pada sub sektor pakan ternak yang terdaftar di bursa efek indonesia periode 2019 – 2023. Analisis kinerja keuangan perusahaan pakan ternak di BEI periode 2019-2023 menggunakan rasio seperti current, quick, debt to asset, debt to equity, ROA, ROE. Mayoritas rasio di bawah standar industri.

Abstract

The Covid-19 pandemic spread after the first case was found in Indonesia in March 2020 and was followed by a policy of controlling the spread through social restrictions. This has a broad impact on services not only on health services but also on social and economic conditions, including livestock in Indonesia. This study aims to analyze financial performance based on current ratio, quick ratio, debt to asset ratio, debt to equity ratio, return on assets and return on equity in animal feed companies listed on the IDX in 2019-2023. The method used in this study uses a quantitative method with secondary data and the determination of the sample in this study is purposive sampling with certain criteria, so the number of samples obtained is 9 companies. The conclusion drawn from the results of this study is that the average indicators of current ratio, quick ratio, debt to equity ratio, return on assets and return on equity are still far below industry standards, only the debt to asset ratio meets industry standards. Keywords: Current Ratio, Quick Ratio, Debt To Asset Ratio, Debt To Equity Ratio, Return On Asset dan Return On Equity.

Review

The paper, titled "Analisis Kinerja Keuangan Berdasarkan Rasio Pada Sub Sektor Pakan Ternak Yang Terdaftar Di Bursa Efek Indonesia Periode 2019 – 2023," investigates the financial performance of animal feed companies listed on the Indonesia Stock Exchange. The study is particularly timely and relevant given its focus on the 2019-2023 period, which encompasses the profound economic and social disruptions caused by the Covid-19 pandemic. By examining this specific sub-sector, the research aims to shed light on how these crucial companies navigated a period of significant uncertainty and challenge, providing valuable insights into their resilience and operational health. Utilizing a quantitative approach with secondary data, the research employs a purposive sampling method to select nine animal feed companies for analysis. The core of the study revolves around evaluating financial performance through a comprehensive set of ratios, including the Current Ratio, Quick Ratio, Debt to Asset Ratio, Debt to Equity Ratio, Return on Assets, and Return on Equity. The abstract concisely presents a critical finding: the majority of these financial indicators—specifically the Current Ratio, Quick Ratio, Debt to Equity Ratio, Return on Assets, and Return on Equity—were found to be "far below industry standards" on average. Intriguingly, only the Debt to Asset Ratio managed to meet industry benchmarks, suggesting a specific area of relative financial stability amidst broader underperformance. This study makes a commendable contribution by providing a focused financial health check on a vital industrial sub-sector during a critical period. Its strength lies in the clear articulation of its objective and the application of standard financial ratios, offering a foundational understanding for stakeholders. However, the abstract's brevity leaves some questions unanswered regarding the specific "industry standards" used for comparison, and a deeper discussion on the *implications* of the identified underperformance would enhance its impact. Future research could expand upon these findings by exploring the root causes of the observed discrepancies, investigating the specific strategies employed by the single ratio outlier, or even conducting a qualitative analysis to understand managerial perspectives on pandemic-induced challenges and strategic responses. This research serves as an important baseline for further exploration into the resilience and strategic adjustments required for the animal feed industry in Indonesia.

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