FINANCIAL RATIO ANALYSIS FOR EVALUATING THE PERFORMANCE OF PT ASAHIMAS FLAT GLASS TBK (2017–2024)

Abstract

This study aims to analyze the financial performance of PT Asahimas Flat Glass Tbk from 2017 to 2024 by examining profitability ratios (ROA, ROE, NPM, GPM), solvency ratios (DAR, DER), and liquidity ratios (Current Ratio, Quick Ratio, Cash Ratio). It uses a quantitative descriptive method with secondary data from the company’s annual financial statements published by the Indonesia Stock Exchange (IDX). The results show that the ROA and ROE generally trend upward, indicating effective asset management and the company’s ability to deliver strong returns to shareholders. The NPM and GPM fluctuate due to changes in production costs and revenue variations. Meanwhile, the DAR and DER tend to decrease, suggesting improvements in capital structure and less reliance on debt. From a liquidity perspective, the Current Ratio, Quick Ratio, and Cash Ratio remain relatively stable, demonstrating the company’s capacity to meet short-term obligations. Overall, this study provides a comprehensive overview of PT Asahimas Flat Glass Tbk’s efficiency, stability, and financial resilience in navigating Indonesia’s glass manufacturing industry. The findings are valuable for management and stakeholders in strategic decision-making and lay a foundation for future research in finance and corporate management.