ANALYSIS OF THE GROWTH AND FINANCIAL STABILITY TRENDS OF PT PERUSAHAAN GAS NEGARA TBK BASED ON ANNUAL REPORT DATA

Abstract

This research aims to analyze the growth trends and financial stability of PT Perusahaan Gas Negara Tbk (PGN) based on the company's annual report data from 2015 to 2024. The analysis is conducted using a descriptive quantitative approach through the measurement of financial ratios, including liquidity ratios (Current Ratio, Quick Ratio, Cash Ratio), solvency ratios (Debt to Asset Ratio, Debt to Equity Ratio), profitability ratios (Return on Investment, Return on Equity, Net Profit Margin, Gross Profit Margin), and activity ratios (Inventory Turnover, Total Asset Turnover).
The results indicate that overall, PGN maintains relatively stable financial performance despite fluctuations in certain periods due to global economic conditions and the impact of the COVID-19 pandemic. The average financial ratios during the study period are as follows: Current Ratio 220.26%, Quick Ratio 213.38%, Cash Ratio 134.78%, Debt to Asset Ratio 53.06%, Debt to Equity Ratio 1,16 times, Return on Investment 3.93%, Return on Equity 8,06%, Net Profit Margin 7.87%, Gross Profit Margin 25.18%, Inventory Turnover –14.81 times, and Total Asset Turnover 0.48 times.
These findings demonstrate that PGN has a good level of liquidity and a healthy capital structure, along with continuous improvement in profitability post-pandemic. However, the efficiency of inventory management and asset utilization still need to be enhanced to optimize financial performance further. Overall, PGN is capable of maintaining solid growth and financial stability with positive prospects in the future, provided that effective debt management, cost efficiency, and asset productivity optimization are implemented.