ANALISIS PREDIKSI KEBANGKRUTAN DENGAN MENGGUNAKAN METODE ALTMAN Z-SCORE PADA PERUSAHAAN BATU BARA YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This study aims to determine the condition of the company using the Altman Z-Score method and to determine the value of the Altman Z-Score ratio in coal companies listed on the Indonesia Stock Exchange from 2017 to 2019.The population in this study were 21 companies but only 10 companies that met the criteria, this study consisted of 30 samples listed on the Indonesia Stock Exchange, this study used secondary data from the last 3 years. This type of research is descriptive research with a quantitative approach.

The results of this study indicate that there are 5 companies in bankruptcy: (1) Borneo Olah Sarana Sukses Tbk (BOSS) with an average Z-Score value of 0.81, (2) Bumi Resources Tbk (BUMI) company with an average value of Z-Score of 1.04, (3) the company Darma Henwa Tbk (DEWA) with an average Z-Score value of 0.95, (4) the company Delta Dunia Makmur Tbk (DOID) with an average Z-Score value of 1.25 and (5) the company Dian Swastatika Sentosa Tbk (DSSA) has an average Z-Score of 1.12. There are also 4 companies that are not bankrupt or in good health, including: (6) Adaro Energy Tbk (ADRO) company with an average Z-Score of 11.60, (7) Atlas Resources Tbk (ARII) company with average Z-Score 5.12, (8) Baramulti Suksessarana Tbk company with an average Z-Score of 3.58 and (9) Byan Resources Tbk (BYAN) company with an average Z-Score of 3.25. In addition, there is one company that is in a vulnerable condition, namely (10) Golden Mines Tbk (GEMS) companies with an average Z-Score of 2.48.