The consumer goods industry, including the tobacco sector, plays a critical role in Indonesia's economy. Despite facing intense competition and regulatory challenges, this sector contributes significantly to national revenue through taxes and duties. Indonesia, with one of the highest smoking rates globally, saw substantial revenue from Tobacco Excise Duties (CHT), amounting to IDR 198.02 trillion in 2022. The COVID-19 pandemic exacerbated challenges by causing significant tax hikes, leading to reduced purchasing power and increased demand for illegal cigarettes. This study focuses on PT HM Sampoerna Tbk, a major player in the Indonesian tobacco industry, evaluating its financial performance using the Du Pont System for the years 2020-2022. The analysis reveals fluctuating Return On Equity (ROE), a declining Net Profit Margin (NPM), and Return On Assets (ROA), despite stable Total Assets Turnover (TATO) and Equity Multiplier (EM). The findings highlight the impact of external economic pressures and regulatory changes on the company's profitability and operational efficiency. This study provides insights into how financial performance metrics reflect the broader economic context and the effectiveness of management strategies.

The study aims to determine how the financial performance of PT. Telkom Indonesia (Persero) Tbk is when assessed using cash flow statements and cash flow ratios. Data collection was carried out using Library research techniques and documentation. The population in this study is the 2019-2023 financial statements of PT. Telkom Indonesia (Persero) Tbk. The entire population in this study is also a sample. The research method uses descriptive analysis using cash flow from operating activities, investment, and financing as well as ratio analysis, namely the Operating Cash Flow ratio (AKO), Fund Flow Coverage Ratio (CAD), Cash Flow Coverage Ratio to Interest (CKB), Cash Coverage Ratio to Current Liabilities (CKHL), Capital Expenditure Ratio (PM), and Cash Flow Adequacy Ratio (KAK). The results of this study show that the amount of the company's cash flow during the 2019-2023 period shows that the company is in a liquid condition when assessed in terms of its operational activities. With the ratio analysis that has been done, it can be concluded that there is an increase in cash flow, especially in operating activities each year and the company's ability to overcome its current liabilities can still be overcome. This shows that PT. Telkom Indonesia (Persero) Tbk is in a fairly good position during the 2019-2023 period.

This study aims to analyze the financial performance of PT. Bank Rakyat Indonesia (Persero) Tbk uses the CAMEL method. The type of research used is descriptive with a quantitative approach. The sample in this study is in the form of financial statements of PT. Bank Rakyat Indonesia (Persero) Tbk for the period 2019-2023. The data collection technique used in this study is a documentation technique. The source of the data was obtained from the official website of the Indonesia Stock Exchange. The results show that the final value of CAMEL, which consists of capital, assets, management, earning, and liquidity in each period by multiplying the credit value of each ratio with the CAMEL weight that has been set by Bank Indonesia, is in the range of 81-100. Thus, it can be concluded that the financial performance of PT. Bank Rakyat Indonesia (Persero) Tbk using the CAMEL method during the 2019-2023 period is in a healthy predicate.

This study aims to analyze the effect of working capital turnover and accounts receivable turnover on profitability at PT Indofood CBP Sukses Makmur Tbk Listed on the IDX 2019-2023 Period by looking at the performance of financial statements. This study uses descriptive research design with quantitative methods. The research was conducted on annual financial data conducted at PT Indofood CBP Sukses Makmur Tbk which is listed on the Indonesia Stock Exchange (IDX) for the 2019-2023 period. Analysis of the effect carried out by testing three variables, namely working capital turnover and accounts receivable turnover as dependent variables and profitability as an independent variable. The results showed three hypotheses with one accepted hypothesis and two rejected hypotheses. Thus, it can be concluded that in this study only accounts receivable turnover has a significant effect on profitability while working capital turnover has no effect on profitability on the object of study, namely PT Indofood CBP Sukses Makmur Tbk.
 

This study aims to determine the potential bankruptcy of airline companies listed on the Indonesia Stock Exchange using the Altman Z-Score model. This research uses descriptive quantitative methods. This study aims to determine the potential bankruptcy of airline companies listed on the Indonesia Stock Exchange using the Altman Z-Score model. This research uses descriptive quantitative methods. The sample in this study is the financial statements of 3 airline companies listed on the Indonesia Stock Exchange (IDX) for the 2016-2022 period. The data collection technique used in this study used secondary data. The data analysis technique uses the modified Altman Z-Score method. The results of this study show that PT Garuda Indonesia Tbk is in bankruptcy condition in 2016-2021, and in 2022 the company is different in gray area conditions. PT Air Asia Indonesia Tbk for seven years, namely in 2016-2022, was in bankruptcy condition. PT Indonesia Transport & Infrastructure Tbk was in bankruptcy condition in 2016-2021, and in 2022 the company was in a gray area condition..

The progress of Islamic banking in Indonesia led to the merger of three Islamic banks, namely Bank Mandiri Syariah, Bank BNI Syariah, and Bank BRI Syariah became PT. Bank Syariah Indonesia. Financial performance is expected to improve compared to before, indicating the success of the merger. This study aims to determine the difference in financial performance using a comparative analysis of the profitability ratio of state-owned Islamic banks before the merger in 2019-2020 and after merging into PT. Bank Syariah Indonesia Tbk. for 2021-2022 by measuring the level of ROA, ROE, and BOPO ratios in each bank. Data collection is used using documentation techniques. Data analysis was carried out using paired T-tests to determine there were significant differences before and after the merger. The results showed that there was a significant increase in each ratio after the merger. This indicates that there is an increase in financial performance after the merger.