Analisis Kinerja Keuangan Berdasarkan Rasio Likuiditas, Solvabilitas, dan Profitabilitas Pada PT Gudang Garam Tbk
Abstract
This research evaluates the financial performance of PT Gudang Garam Tbk from 2021 to 2025 using liquidity, solvency, and profitability indicators. A quantitative research design with a descriptive approach was adopted, utilizing the company's official financial statements to compute the Current Ratio (CR), Debt to Asset Ratio (DAR), and Return on Assets (ROA). The results demonstrate that liquidity is generally healthy, highlighted by a recovering Current Ratio in 2024–2025. Solvency levels are also well-managed, with the DAR remaining under the 50% threshold and tapering off by the end of the study period. However, profitability performance is less than optimal; the ROA fluctuated downwards due to cost pressures from internal operations, increased government cigarette excise rates, and fierce industry dynamics. Ultimately, the study concludes that although the firm exhibits strong financial resilience in fulfilling its obligations, optimization of operating costs is highly recommended to stimulate profit growth.
References
Fanalisa, F., & Juwita, H. A. J. (2022). Analisis rasio likuiditas, aktivitas, solvabilitas, dan profitabilitas untuk menilai kinerja keuangan. Jurnal Management Risiko Dan Keuangan, 1(4), 223–243. https://doi.org/10.21776/jmrk.2022.01.4.01
Irfan Syahroni, M., STIT Al-Aziziyah, D., TGH Umar Abdul Aziz kapek Gunung Sari Lombok Barat, J. I., & pos, kode. (2022). Prosedur Penelitian Kuantitatif. Jurnal Al-Musthafa STIT Al-Aziziyah Lombok Barat, 43(3).
Napitulu, L., Dwika Listihana, W., Farwitawati, R., Ekonomi dan Bisnis Universitas Lancang Kuning Jln Panjaitan KM, F. DI, & Pekanbaru, R. (2023). Analisis Rasio Profitabilitas Untuk Menilai Kinerja Keuangan Pada PT. Gudang Garam, TBK (2014-2019). In Jurnal Akuntansi Lancang Kuning (Vol. 1, Number 1).
Nugraha, M. (2023). Analisis Rasio Likuiditas dan Solvabilitas Pada PT. Bukalapak.Com Tbk (Studi Kasus Tahun 2021 Dan 2022) (Vol. 15, Number 2). https://jurnal.ubd.ac.id/index.php/akunto
Rojulmubin, F., Nurhidayah, I., Lim, W., F. Arifianto, C., & N. Nazar, S. (2023). Analisis Rasio Profitabilitas Dan Rasio Likuiditas Dalam Mengukur Kinerja Keuangan PT Adhi Karya 2017-2021. Jurnal Ekonomi Dan Bisnis, 15(2), 11–19. https://doi.org/10.55049/jeb.v15i2.218
Rosalia Simangunsong, R., Kusmawati, Y., & Karmiyati, S. (2025). Pengaruh Current Ratio (CR) dan Return On Asset (ROA) terhadap Harga Saham pada PT Gudang Garam Tbk Periode 2014 – 2023. In Scientific Journal Of Reflection: Economic, Accounting, Management and Business (Vol. 8, Number 2).
Tanjung, A., Khusnul Mubarak, M., & Bombana, P. (2025). Dampak yang Mempengaruhi Kinerja Saham Entitas Rokok pada Kenaikan Tarif Cukai. Jurnal Pendidikan Dan Studi Islam, 6(1), 243. http://jurnal.staiddimakassar.ac.id/index.php/aujpsi
Widhi Kurniawan, A., Mustika Amin, A., Budiyanti, H., Negeri Makassar, U., & Selatan, S. (2023). Analisis Rasio Keuangan untuk Menilai Kinerja Keuangan pada PT Gudang Garam Tbk Periode 2018-2022. In Jurnal Ilmiah Ekonomi dan Bisnis (Vol. 2, Number 1).
Performance: Jurnal Bisnis & Akuntansi allows readers to read, download, copy, distribute, print, search, or link to the full texts of its articles and allow readers to use them for any other lawful purpose. The journal allows the author(s) to hold the copyright without restrictions. Finally, the journal allows the author(s) to retain publishing rights without restrictions.
In most cases, appropriate attribution can be provided by simply citing the original article, for example:
Sakdiyah, H. (2017). ANALISIS PENERAPAN ENVIROMENTAL MANAGEMENT ACCOUNTING (EMA) PADA RSUD DR.H.SLAMET MARTODJIRJO PAMEKASAN. PERFORMANCE: Jurnal Bisnis & Akuntansi, 7(1), 1-18. doi:https://doi.org/10.24929/feb.v7i1.343
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
4.png)
.png)
