Octavia Azizun M.P Octa, Melita Ika, Ety Meikhati

BERTAHAN DAN KEBERLANJUTAN PT. INDOFOOD SUKSES MAKMUR TBK MELALUI ANALISIS RASIO PROFITABILITAS

Introduction

Bertahan dan keberlanjutan pt. Indofood sukses makmur tbk melalui analisis rasio profitabilitas. Analisis rasio profitabilitas PT. Indofood Sukses Makmur Tbk selama Covid-19 menunjukkan GPM baik, namun NPM, ROI, dan ROE di bawah standar industri. Pelajari kelangsungan bisnis.

Abstract

This research was conducted to evaluate how a company has the ability to survive the Covid-19 pandemic and be sustainable through profitability ratio analysis. The object of this research is PT. Indofood Sukses Makmur Tbk. The data used in this research is secondary, namely in the form of an Annual Report taken from the Indofood CBP company website. The research results show that based on the profitability ratio analysis using GPM it is above the industry standard of 1.6%, meaning that the company's operational condition is in good condition. Based on the results of calculating the NPM, ROI and ROE ratios, it was concluded that the company was in poor condition because it was still below industry standards.

Review

This study undertakes a timely and relevant examination of PT. Indofood Sukses Makmur Tbk's resilience and sustainability amidst the COVID-19 pandemic, utilizing profitability ratio analysis. The research's focus on a major Indonesian conglomerate provides valuable insight into the financial health of a key player during a period of significant economic disruption. By employing secondary data from annual reports, the methodology is straightforward and appropriate for an initial assessment of financial performance indicators. The clear objective of evaluating a company's ability to survive and sustain itself through a crisis is commendable and addresses a critical area of corporate finance. The findings present an interesting, albeit somewhat contradictory, picture of the company's financial performance. While the Gross Profit Margin (GPM) exceeding the industry standard suggests robust operational efficiency, the poor performance indicated by Net Profit Margin (NPM), Return on Investment (ROI), and Return on Equity (ROE) against industry benchmarks raises important questions. This divergence implies that while core operations might be strong, other factors – perhaps increased non-operating expenses, financing costs, or tax impacts – are significantly eroding overall profitability and returns to stakeholders. The direct comparison to industry standards is a strength, providing a contextual basis for the assessment. For future iterations or a more comprehensive analysis, the study could benefit from a deeper exploration of the reasons behind the conflicting profitability indicators. A discussion detailing the specific drivers of the poor NPM, ROI, and ROE, even with a strong GPM, would add significant value. Furthermore, a broader scope of financial ratios, including liquidity, solvency, and efficiency ratios, would offer a more holistic understanding of the company's "survival" and "sustainability" beyond just profitability. Finally, while a case study, explicitly addressing the implications of these findings for Indofood's strategic management and potential lessons for other companies navigating similar crises would enhance the paper's practical contribution.

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