PREDIKSI KEBANGKRUTAN DENGAN MODEL ALTMAN Z-SCORE PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2012-2016

Abstract

This study aims to determine bankruptcy predictions on cement companies listed on the Indonesia Stock Exchange in 2012-2018 using the Altman Z-Score model with the Multiple Discriminant Analysis (MDA) method on five types of financial ratios that have been equipped with cutoff points. i.e. (X1) Working The research approach uses descriptive. The analysis showed that 4 cement companies experienced a decline in financial performance. Z-Score prediction results of PT. Indocement Tunggal Prakasa, Tbk., Not bankrupt. PT. Semen Baturaja Persero Tbk. and PT Semen Indonesia, Tbk entered the gray area. PT Holcim Indonesia Tbk., Is the company with the worst conditions.