ANALISIS FINANCIAL RATIO DAN FINANCIAL DISTRESS PADA PERUSAHAAN PARIWISATA, HOTEL, RESTORAN, DAN KONSTRUKSI BANGUNAN DIMASA PANDEMI COVID-19

Abstract

Kondisi financial ratio dan financial distress perusahaan harus diperhatikan khususnya bagi para investor dalam menanamkan modalnya. Fokus dari penelitian ini adalah memeriksa dan menganalisis financial ratio dan kondisi financial distress pada Perusahaan Sektor Pariwisata, Hotel, Restoran, dan Konstruksi Bangunan Dimasa Pandemi COVID-19 tahun 2020. Financial ratio diukur memakai ROA, rasio lancar, dan rasio total utang terhadap total aset, sedangkan financial distress menggunakan rumus Altman Z-Score. Jenis penelitian ini adalah kuantitatif deskriptif menggunakan data sekunder laporan keuangan triwulan 2 tahun 2020. Populasi penelitian ini adalah Perusahaan Sektor Pariwisata, Hotel, Restoran, dan Konstruksi Bangunan yang terdaftar di Bursa Efek Indonesia tahun 2020 sebanyak 53 perusahaan. Sampel yang didapat dari teknik purposive sampling adalah sebesar 49 perusahaan. Hasil penelitian menunjukkan 17 perusahaan dari sektor Hotel, Restoran, dan Pariwisata, serta 8 perusahaan dari sektor Konstruksi Bangunan yang mendapatkan skor > 2.60 sehingga perusahaan dianggap aman dimasa pandemi COVID-19. Meskipun pandemi COVID-19 menyerang, namun terdapat 5 perusahaan dari sektor Hotel, Restoran, dan Pariwisata, serta terdapat 4 perusahaan dari sektor Konstruksi Bangunan yang memiliki kinerja baik dimasa pandemi COVID-19 dengan variabel X1, X2, X3, maupun X4 bernilai positif. Sehingga mampu mempertahankan kemampuannya dalam menghasilkan laba dan memiliki posisi aman dengan tingkat kesulitan keuangan yang rendah. Dari hasil penelitian tersebut menggambarkan dimasa pandemi COVID-19 perusahaan mengalami penurunan secara signifikan dibandingkan sebelum adanya pandemi COVID-19.The condition of the company’s financial ratio and financial distress must be considered, especially for investors in investing their capital. The focus of this study is to examine and analyze financial ratios and financial distress conditions in Tourism, Hotel, Restaurant, and Building Construction Sector Companies during the 2020 COVID-19 Pandemic. Financial ratios are measured using ROA, current balances, and the percentage of total debt to total assets, while financial distress uses the Altman Z-Score formula. This type of research is quantitative descriptive using secondary data from the financial statements of the second quarter of 2020. The population of this research in the Tourism, Hotel, Restaurant, and Building Construction Sector Companies listed on the Indonesia Stock Exchange in 2020 as many as 53 companies. The sample obtained from the purposive sampling technique is 49 companies. The result showed 17 companies from the Tourism, Hotel, and Restaurant sectors and eight companies from the Building Construction sector scored > 2.60. The company was considered safe during the COVID-19 pandemic. Despite the COVID-19 pandemic, five companies from the Tourism, Hotel, and Restaurant Sector and four companies from the Building Construction Sector have performed well during the COVID-19 pandemic, with variables X1, X2, X3, and X4 having positive values. So that it can maintain its ability to generate profits and have a safe position with a low level of financial difficulty. The results of this study illustrate that during the COVID-19 pandemic, the company experienced a significant decline compared to before the COVID-19 pandemic.