Fundamental Analysis In The Cigarette Companies Registered At the Jakarta Stock Exchange (Case Study from 1998 to 2002)

DEGA CAHYONO SAMSI

Abstract


Financial ratio analysis is ameasurement that can be used to determine the conditionof an individual company or its position among its com-petitors. Based on the opinion of Prof.. Dr. BambangRiyanto that in conducting the analysis of nancial state-ments requires an analyst of a certain size or yard stick tomeasure frequently used is the ratio. Based on the resultsof testing with Varian multivariate analysis methods can beconcluded that the condition of the nancial ratios betweencigarette companies listed in Jakarta Stock Exchange is sig-nicantly dierent at several nancial ratio is the ratio ofcurrent liquidity ratio, cash ratio, quick ratio and workingcapital ratio, leverage ratio consists of a long term debt toequity ratio and debt coverage tangible assets, the ratio ofthe activity which consists of receivable turnover ratio andaverage day's inventory ratio and the ratio of gross protcomprises prot margin ratio and the earnings power of thetotal investment ratio. Whereas in the period 1998-2002almost all the average nancial ratios are the same, excepton the ratio of the activity, ie the ratio of average day's in-ventory was signicantly dierent. Dierences in nancialratios is exactly what should be a concern either the inter-nal or each company's investors and creditors who intendto invest their fund

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