FINANCIAL RATIO ANALYSIS TO MEASURE THE PT SONA TOPAS TOURISM INDUSTRY TBK PERFORMANCE (2015–2024)

Abstract

This study aims to analyze the financial performance of PT Sona Topas Tourism Industry Tbk for the period 2015 to 2024 through financial ratio analysis which includes liquidity, solvency, activity, and profitability ratios. The research uses a quantitative descriptive method based on secondary data obtained from the company’s audited financial statements published by the Indonesia Stock Exchange (IDX). The analysis focuses on evaluating the company’s ability to meet short-term and long-term obligations, manage assets efficiently, and generate profits. The results show that the company maintained a strong liquidity position, particularly in 2021, reflecting effective short-term financial management during the COVID-19 pandemic. The solvency ratios indicate an improvement in the company’s capital structure after 2018, while the activity ratios show fluctuations due to reduced operational performance during the pandemic period. The profitability ratios reveal a decline in 2020 and 2021 followed by gradual recovery in 2023 and 2024, demonstrating the company’s resilience and ability to restore profitability. These findings confirm that financial ratio analysis is a reliable tool for evaluating financial performance, providing a comprehensive understanding of financial stability, operational efficiency, and strategic adaptability. This study contributes to the academic field by presenting a ten-year longitudinal financial evaluation that covers pre-pandemic, pandemic, and post-pandemic phases, offering both theoretical and practical insights for financial management in the tourism industry.