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Novia Andriyani; Ida Harahap; Sairun Simanullang

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2026 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This research aims to see the effect of Total Asset Turnover and Debt To Equity Ratio (DER) on Return On Assets (ROA) at PT Indofood Sukses Makmur Tbk which is listed on the BEI in 2010 - 2023. The data used in this research is data secondary in the form of the annual financial report of the company under study. This research uses quantitative data and the data source used is secondary data with an analysis method using multiple linear regression methods with data processing using SPSS v.25. The results of hypothesis testing (T Test) partially state that the Total Asset Turnover variable does not have a significant and positive influence on Return On Assets (ROA) and the Debt To Equity Ratio (DER) variable has a significant and negative influence on Return On Assets (ROA). Simultaneous F Test results of the Total Asset Turnover and Debt To Equity Ratio (DER) variables show a significant influence between Total Asset Turnover and Debt To Equity Ratio (DER) on Return On Assets (ROA).

M Juni Azka An-nur; Neni Rakhmawati

Jurnal Manajemen Kreatif dan Inovasi 2026 International Forum of Researchers and Lecturers

This study was conducted with the aim of evaluating the dynamics of the financial condition of PT Indofood Sukses Makmur Tbk over a five-year period, namely from 2019 to 2023. This writing applies a quantitative descriptive methodology sourced from secondary data through audited annual financial reports. The main instruments in this data analysis include three pillars of financial ratios: Current Ratio (CR) as a representation of the liquidity aspect, Debt to Asset Ratio (DAR) to measure the level of solvency, and Return on Equity (ROE) as a benchmark for the effectiveness of the company's profitability. Through annual calculations and trend analysis, this study captures the development of the issuer's performance longitudinally. The results of the observation show a significant strengthening in the company's liquidity position, where the Current Ratio jumped from 127% in 2019 to 192% at the end of the 2023 period. In line with that, the solvency profile shows fundamental improvements; Debt reliance, which had reached 51% in mid-2020-2021, was successfully reduced to 46% in 2023. Meanwhile, the company's profitability demonstrated stable resilience, with a consistent ROE of 10% to 13%, despite fluctuations due to operational cost dynamics. Overall, PT Indofood Sukses Makmur Tbk demonstrated excellent financial health through strategic capital and asset management. As a sustainability measure, management is advised to continue optimizing current assets and tightening cost efficiency to secure future profit margins.

Ahmad Faidlon; Heru Saputro; Ariyanto Ariyanto; Boedi Lofian; Muhammad Nurul Latif +1 more

International Journal of Computer Technology and Science 2026 Asosiasi Riset Teknik Elektro dan Infomatika Indonesia

The selection of this research topic is based on the important role of packing machines in the noodle production process. As consumer demand continues to increase and industrial competition becomes more intense, optimizing production efficiency is a critical requirement for manufacturing companies. This study focuses on the Tokiwa W500 Packing Machine used at PT. Indofood CBP Sukses Makmur, Noodle Division, Semarang. The research method involves a comprehensive review of the machine control system to evaluate its operational performance. Data collection was conducted through direct observation, structured interviews with machine operators, and relevant literature review. The review emphasizes system performance, operational efficiency, and the level of automation, while identifying potential areas for improvement. The results indicate that the Tokiwa W500 Packing Machine operates in a stable and consistent manner during the noodle packaging process. However, opportunities were identified to enhance the automation system in order to improve production efficiency and reduce the risk of human error. This study is expected to contribute to the development of more effective and optimized control systems for industrial packing machines.

Arka Nurafna Oktaviandy Wibowo; Dwi Koerniawati

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study analyzes the implementation of ESG (Environmental, Social, and Governance) reporting on the firm value of PT Indofood Sukses Makmur Tbk during the 2020-2024 period. The main issues examined are how ESG reporting is implemented and the extent of its influence on firm value, as well as which ESG component has the most significant impact. The research method employs a quantitative approach with a causal comparative design, utilizing secondary data sourced from annual reports, sustainability reports, and market data over five years. Firm value is proxied using Tobin's Q ratio, while the level of ESG disclosure is measured based on the GRI Standards framework. Data analysis techniques use multiple linear regression by incorporating control variables including firm size, profitability (ROA), and leverage to enhance result validity. The research findings indicate that ESG reporting has a positive and significant effect on firm value with a coefficient of β = 0.018 and p < 0.001, with a model predictive capability (R²) of 87.3%. Indofood's ESG Score experienced substantial improvement from 56.3% in 2020 to 78.9% in 2024, accompanied by an increase in Tobin's Q from 0.982 to 1.523. Component-wise analysis reveals that the Social aspect provides the highest impact (β = 0.009), followed by Governance (β = 0.007) and Environmental (β = 0.006). These findings provide empirical support for stakeholder theory and resource-based view in the Indonesian emerging market context.

Yoga Wahyu Pratama; Fransiska Prihatini; Orissa Octaria; Ahmad Farisi; Mardiani Mardiani

Mars: Jurnal Teknik Mesin, Industri, Elektro Dan Ilmu Komputer 2025 Asosiasi Riset Teknik Elektro dan Informatika Indonesia

The use of technology in data management has become the key to improving the efficiency and effectiveness of company performance. PT Indofood CBP Sukses Makmur Tbk has implemented a computerized employee attendance system through the Employee Self Service (ESS) application. However, so far there has been no evaluation regarding the level of user satisfaction with the application. This study aims to measure ESS user satisfaction to provide input in future application development. The method used is End User Computing Satisfaction (EUCS) which includes five variables: Content, Accuracy, Format, Ease of Use, and Timeliness. Data was obtained through the distribution of questionnaires and analyzed using the SPSS application. The results of the t-test showed that the Format variable had the most significant influence (t = 4.281), while the other variable showed an insignificant influence individually. However, through the F test, an F value was obtained of 3.791 with a significance of 0.003, which shows that simultaneously all EUCS variables have a significant effect on user satisfaction. These results are expected to be the basis for companies to improve the performance of ESS applications and support the overall work efficiency of employees.

M Fadlan Irfan Damanik; Azwan Bastian; Aji Haviz; Dwi Saraswati

International Journal of Economics and Management Sciences 2025 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

In research this, ratio profitability compared to with performance finances of PT Indofood Sukses Makmur Tbk during period 2019–2023. Total ratio profitability used​ including Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), and Gross Profit Margin (GPM). The results of the study show that performance finance company has changed for five years Lastly, with ROA value remains below​ standard. This result show that improvement management assets and equity required For support growth greater profitability​ consistent in the future.

Tara Audina; Eko Widodo; Aprilia Dian Evasari

Jurnal Penelitian Manajemen dan Inovasi Riset 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This study aims to determine the influence of variables, namely Current Ratio, Total Assets Turnover, Debt To Asset Ratio, Return On Assets, Sales Growth and Earning Per Shares on the company PT Indofood CBP Sukses Makmur Tbk before and after the Acquisition with PT Arla Indofood Makmur Dairy Tbk which has been listed on the Indonesia Stock Exchange in 2016-2022. The research location used in this study is PT, Indofood, Tbk. Where researchers will take data through financial reports on the Indonesia Stock Exchange. The analysis technique used is the Paired T-test. The results in this study indicate that the variables Current Ratio, Debt To Asset Ratio, Sales Growth and Earning Per Shares show significant differences between before and after the acquisition, while Total Assets Turnover, Return On Assets do not show significant differences between before and after the acquisition. With this research, it is hoped that the company can further improve various factors that do not have an effect in this study.

Silviezy Romyulaesi; Labib Zidan; Koirunisah; M. Masrukhan

Jurnal Ilmiah Ekonomi, Akuntansi, dan Pajak 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The purpose of this study was to evaluate and analyze the financial performance of PT Indofood Sukses Makmur Tbk (INDF) using financial ratios such as solvency, liquidity, profitability, and activity. This research uses quantitative methodology with an emphasis on numerical data. The data source used for analysis is the financial statements of PT Indofood Sukses Makmur Tbk (INDF) from 2019 to 2023. The results of the analysis conducted provide an overview of the financial condition of PT Indofood Sukses Makmur Tbk (INDF). The current ratio shows generally good performance, while the cash ratio and quick ratio are also in the “good” category. Because PT Indofood Sukses Makmur Tbk (INDF) is able to fulfill its obligations well in the long term, it can be concluded that the company can perform very well. This research is useful for investors, managers and other stakeholders involved in decision making based on accurate and reliable data from the financial industry.

Fachri Aditya; Amri Amrulloh; Eka Noviana

Jurnal Ekonomi dan Keuangan 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study explores external audit practices in manufacturing companies. This article aims to examine external audit practices at PT Indofood, one of the largest food and beverage companies in Indonesia. The primary focus is on the audit procedures used and compli- ance with applicable audit standards. By using literature analysis and secondary data from various journals and PT Indofood's annual financial reports, this research provides in-depth insight into the effectiveness of external audits in increasing company transparency and accountability. The existing findings show that PT Indofood has carried out an external audit of their consolidated reports in accordance with applicable regulations. This finding underlines that no problems have occurred with external audit practices within PT Indofood so far.

Rafi’ah Kumalasari; Suci Fathimah Rizaldy; Gina Aulia Dewi; Septiana Dewi

Jurnal Publikasi Ekonomi dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

This study aims to determine the influence of factors from Integrated Quality Management and Business Process Quality Engineering to achieve Intention Customer PO. Respondents from this study were 61 respondents and this study used a quantitative approach. Integrated Quality Management or Total Quality Management (TQM) and Business Process Quality Engineering or Business Process Reengineering (BPR) are two strategic approaches and can be used synergistically to achieve Customer Purchase Order (PO) fulfillment with high efficiency and effectiveness. This research examines the influence of implementing Total Quality Management (TQM) and business process quality engineering on customer intention to repurchase (intention customer PO) for sweetened condensed milk products at PT. Indofood. The research results show that the implementation of TQM and business process quality engineering together can increase intention customer PO. Increased customer satisfaction is a crucial factor in achieving intention customer PO. This research contributes to PT. Indofood by providing an understanding of the importance of implementing TQM and business process quality engineering in achieving intention customer PO, providing empirical data to develop more effective marketing strategies, and providing recommendations to improve product and service quality, as well as customer satisfaction

Abdurrahman Abdurrahman; Dwi Nur Zahara; Aryo Seno Khusnul R; Titi Salma; Naerul Edwin Kiky Aprianto

Jurnal Ilmiah Ekonomi, Akuntansi, dan Pajak 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

In the era of globalization, companies are increasingly competitive and are required to have a good business strategy so that companies can remain competitive and develop. Innovation and improving product quality are needed by companies in the face of increasingly fierce competition. Strategy is an important thing in a business. To achieve its goals or objectives effectively and efficiently, the company must be able to deal with any problems or obstacles that arise. The focus of this research refers to PT Indofood Sukses Makmur Tbk. The purpose of this study is to discuss the strategy and analysis of PT Indofood in facing industry competition. The research method used is descriptive qualitative to analyze the competitive strategy used by PT Indofood. Data collection using literature review related to this research. The results of the discussion show that PT Indofood implements various strategies, such as product diversification, increasing operational efficiency, and market expansion through international market penetration. The main finding of this study is the success of PT Indofood in utilizing its competitive advantage to compete in the global market.

Ghina Wahdiyanti; Maya Lizqiyanti; Taupan Irmansyah; M. Masrukhan

Jurnal Ekonomi, Akuntansi, dan Perpajakan 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

Financial consolidation has become a crucial strategy for multinational companies in addressing increasingly intense global competition. It is often employed as a primary approach to expand market reach and drive corporate growth, ultimately affecting liquidity, equity-earning based measures, and profitability. This study specifically examines the impact of consolidation on a company's liquidity, equity-earning based metrics, and profitability using financial ratio analysis, including Current Ratio (CR), Earnings Per Share (EPS), and Net Profit Margin (NPM) as key indicators. Adopting a quantitative approach, the research utilizes secondary data from the financial statements of PT Indofood Sukses Makmur Tbk before and after consolidation in 2023. The methods applied include a comparison of financial statement items pre- and post-consolidation and a literature review relevant to financial performance analysis. The data analysis results reveal that post-consolidation, PT Indofood Sukses Makmur Tbk recorded an increase in liquidity ratio (current ratio) by 15.26%, reaching 1.9171, and an equity-earning based ratio (earnings per share) rise of 53.74% to 0.001309, which positively impacted the company. However, profitability ratio (net profit margin) declined by 22.81% to 0.1028, indicating challenges in cost management and operational efficiency following the consolidation.

Novia Cynthia Maradesa; Jenny Angela Berdame

Global Leadership Organizational Research in Management 2024 STIKes Ibnu Sina Ajibarang

This research aims to find out the financial reports in the Indosukma cooperative, so that the financial reports become relevant. Data was obtained by conducting interviews and documentation. The data analysis technique used is to describe research data and analyze financial reports at the Indo Sukma Employee Cooperative PT Indofood CBP Sukses Makmur. The research results show that in general the Indo Sukma Employee Cooperative PT Indofood CBP Sukses Makmur Tbk has implemented Statement of Financial Accounting Standards No. 27 in its financial reports. Based on the analysis and evaluation carried out, it turns out that PSAK No. 27 in Indosukma employee cooperatives has not been implemented properly, such as not presenting members' economic promotion reports, not presenting estimates of cooperative burdens.

Viony Rahmawati; Rusnandari Retno Cahyani

Jurnal Manuhara : Pusat Penelitian Ilmu Manajemen dan Bisnis 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Family business, businesses owned and inherited by family members, play an importantrole in the Indonesian economy. Despite its long-term benefits and legacy potential, familybusinesses are also challenging. In carrying it out, maintaining the good name of the family,providing business knowledge to family members, and overcoming difficulties in reachingagreements are key factors. Several figures such as Moores and Barrett, Marpa, Dussault, andPoza provide different views regarding the definition of a family company. However, thepoint is that this company is family owned, involved in management, and has the potential tobe sustainable across generations. In the Indonesian context, several successful familycompanies include PT. DJARUM, PT. Indofood Sukses Makmur, Trans Corp, Bakrie Group,and Sampoerna. Knowing the various types of promising family businesses, such asrestaurants, learning courses, plantation industries, automotive businesses, and eventorganizers, can be a guide for starting a sustainable family business.      

Dewi, Maylisa Atika Sasaki; Siska, Elmira

Jurnal Bintang Manajemen (JUBIMA) 2024 Pusat Riset dan Inovasi Nasional

The study aims to determine the impact of profitability measured by Return On Asset (ROA) and liquidity measufied by Current Ratio (CR), partially and simultaneously on the share return of PT Indofood Sukses Makmur Tbk company listed on the Indonesian Stock Exchange (BEI) in 2016-2023. The search was carried out in April-May 2024. Data collection techniques use documentation studies by analyzing financial statements. Data analysis techniques include classical assumption tests, double linear regression, t tests and F tests. The results show that the data used does not have econometric problems. Return On Asset (ROA) has a passively negative and significant impact on the share return (t count 3,874 > t table 2,4227). Current Ratio (CR) is partially positive and significant (t t count 4,933 > t Table 2,4227. Simultaneously, ROA and CR have a positive and meaningful effect on the stock return (F count > F table 12,906 > 3,328). Keywords: Return On Asset (ROA), Current Ratio (CR), Stock Return.  

Farin Aprita; Savina Dwi Cahya; Anisa Yulianti; Nadia Nadia; Tri Gianti +1 more

Jurnal Publikasi Ekonomi dan Akuntansi 2024 Asosiasi Riset Ekonomi dan Akuntansi Indonesia

The Accountant Code of Ethics is a guideline to regulate the ethics of the Indonesian public accounting profession in order to fulfil professional responsibilities. IAMI, IAI and IAPI. Based on the research of this scientific article, the author conducted research observations on Business Ethics in the Digital Age. The object of research comes from literature such as google scholar, online media, and company reports of PT Indofood Tbk. The purpose of this article is to find out violations of the ethics and code of ethics of the accounting profession at PT Indofood. Based on the case study described above related to PT Indofood, Tbk which has violated the code of ethics. Indomie products contain harmful substances that will harm consumers if they consume these products. PT Indofood Tbk. has violated the principle of honesty in business ethics by not informing its customers about the dangerous content in their products.      

Ade Irma Yesa Andini; Dyva Putri Trivia; Galang Berlyne Ramadhan; Laila Mufida

Jurnal Bisnis Inovatif dan Digital 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

This research discusses the role of digital marketing and customer relationship management at PT. Indofood Sukses Makmur Tbk, a company mostly engaged in food and beverages that grows and originates from Indonesia. This research uses qualitative methods. The data collection method used in this study is a descriptive method which is a data collection technique via the internet. The results of the study concluded that digital marketing has a significant influence on customer relationship management strategies at PT. Indofood Sukses Makmur Tbk. Digital marketing plays a crucial role in expanding the company's market area and target customers, as can be seen from the use of various digital platforms to promote products, such as Instagram, Twitter, Tiktok, and Facebook. Therefore, digital marketing and CRM have an important role in developing strategies that can maintain the competitive advantage of PT. Indofood Sukses Makmur Tbk.

Rama Darmawan Iswanto; Martono Martono

JURNAL EKONOMI BISNIS DAN MANAJEMEN (JISE) 2024 CV. ALIM'SPUBLISHING

. The purpose of this research was to determine the influence of liquidity and solvency on profitability at PT Indofood CBP Sukses Makmur Tbk. period 2013–2022. This type of research uses the Associative Quantitative method. The research method used in this research uses statistical tests which include multiple linear regression tests and classical assumptions. In the classic SPSS assumptions used by researchers, namely normality, multicollinearity, autocorrelation and heteroscedasticity tests. Partially the author uses the t test, while simultaneously the author uses the F test which is then continued by using the coefficient of determination test. Based on the results of the t test research, it states that Liquidity as proxied by Current Ratio has a negative and significant effect on Profitability as proxied by Return On Assets with t calculated as tcount < ttable, namely |-5.189| > t table 2.364 with a significance level of 0.001 <0.05. And for Sovitability which is proxied by Debt to Asset Ratio, it partially has a negative and significant influence on Profitability which is proxied by Return On Assets because the calculated t value > t table is -19.438 > t table 2.364 with a significance level of 0.000 < 0.05. For the F test, the Fcount value was 197.526> 4.46 with a significance value of 0.000 < 0.05, which means that there is a significant influence simultaneously between Liquidity which is proxied by the Current Ratio and solvency which is proxied by the Debt to Asset Ratio on Provitability which is proxied by Return On Assets in PT Indofood CBP Sukses Makmur Tbk. The resulting coefficient of determination was 98.3% while the remaining 1.7% was the influence of other factors not examined in the author's research.

Amelinda Clara Alverina; Nina Shabrina

Jurnal Nuansa : Publikasi Ilmu Manajemen dan Ekonomi Syariah 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

The purpose of this study was to determine the effect of Current ratio and Working Capital Turnover on Net Profit Margin at PT Indofood Sukses Makmur Tbk for period 2010-2022. The method used is a quantitative method. The sampling technique used is purposive sampling in the form of the financial statements of PT Indofood Sukses Makmur Tbk for 13 years for the period 2010-2022 The method used in this study is a quantitative research method. This data was analyzed using multiple linear regression analysis which was processed through IBM Eviews software version 13. The results of this study are the Current Ratio has significant effect on Net Profit Margin with and hypothesis testing is obtained t count > t table or (2,927371 > 1,8125). Working Capital Turnover has significant effect on Net Profit Margin with hypothesis testing obtained t count > t table or (3,136072 > 1,8125). Hypothesis test obtained value of F arithmetic > F table or (11,73981 > 4,10), Current Ratio and Working Capital Turnover have significant effect on Net Profit Margin with the regression equation Y = -0.008184 + 0.105778(CR) + 0.066761(WCT) + ɛ. The value of the coefficient of determination is 78,16% while the remaining 21,84% is influenced by other factors.

Aurora Elise Putriku; Lenti Susanna Saragih; Novita Sari Br Siboro; Mutiara Dwi Rizqina; Michael Sihombing

Jurnal Bisnis Inovatif dan Digital 2024 Asosiasi Riset Ilmu Manajemen Kewirausahaan dan Bisnis Indonesia

Abstract This research aims to analyze the marketing strategy of PT Indofood Sukses Makmur Tbk to enter the international market with a focus on Indomie instant noodle products. Obtain data from trusted sources such as academic journals and books through library research methods. A qualitative approach is used to understand Indomie's marketing strategy through content analysis and data interpretation. This company is famous for its high quality products and various innovations, especially in instant noodle products. Quality standardization in the production process is the key to success in the global market. Apart from that, PT Indofood Sukses Makmur Tbk applies the cost-plus method in determining export selling prices so that its products are flexible and competitive in the international market. In terms of distribution, the company attaches great importance to quality, timeliness, safety and transportation costs. Indomie products are distributed through large wholesalers and retailers and are popular in overseas markets such as Australia. The findings show that effective and efficient marketing strategies have helped PT Indofood Sukses Makmur Tbk maintain and expand its global market share.