Financial Ratio Analysis of Comparative Performance As Corporate Finance Limited At PT.Gudang Garam And PT.Hanjaya Mandala Sampoerna Tbk.

ELISABETH HERMIN NATALIA

Abstract


On a company's nancial condi-
tion is presented in the form of nancial statements. Mean-
while, in order to understand the conditions, company per-
formance and nancial potential well, it is necessary to the
analysis of nancial statements. Financial ratio analysis are
calculated based on data contained in the balance sheet and
income summary company. In the analysis of nancial ra-
tios contained several include ratio analysis: Liquidity Ra-
tios, Leverage Ratios, Activity Ratios and Protability Ra-
tios. The results of the analysis and interpretation of this
ratio range of can provide a range of views about the con-
ditions, company performance and nancial potential for
analysts. The strategy used in this study is a compara-
tive strategy. The research method used is ex post facto
method by using quantitative approach. The samples used
in this research are nancial statement data on PT.Gudang
Garam Tbk and PT.Hanjaya Mandala Sampoerna Tbk from
2004 through 2008. From the results of research conducted,
it can be concluded that the performance of the liquidity
ratio of PT Gudang Garam Tbk. better than the perfor-
mance of PT HM Sampoerna Tbk. in other words that PT
Gudang Garam Tbk. have a good ability to pay liabilities
/ short-term debt falling due to creditors or PT Gudang
Garam Tbk. Have a good cash
ow in making the wealth /
asset smoothly into cash that can be used for the benet of
the company's nancial performance. Leverage ratio of the
performance of PT Gudang Garam Tbk. better than the
performance of PT HM Sampoerna Tbk., where the prop-
erty / assets owned by PT HM Sampoerna Tbk. largely
nanced / derived from the company's debt. But a large
debt is best utilized by PT HM Sampoerna Tbk. in gen-
erating prots. These results can be seen from the ratio of
protability PT HM Sampoerna Tbk. Protability ratios
that surpass PT Gudang Garam Tbk. so in other words,
the higher the greater the risk of corporate debt, and the
greater the potential acquisition of its prots (so the higher
the risk, the higher return). Performance ratio of the activ-
ity of PT HM Sampoerna Tbk. better than the performance
of PT Gudang Garam Tbk. in other words that the perfor-
mance of PT HM Sampoerna Tbk. in the management of
corporate resources in the form of inventories, receivables
and property / assets of other companies more ecient and
eective in generating sales and cash. The protability ra-
tios of the performance of PT HM Sampoerna Tbk. better
than the performance of PT

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