PT UNILEVER : ANALYSIS OF SOLVABILITY TRENDS AND FINANCIAL ACTIVITIES DURING 2021-2023

Abstract

This study aims to analyze the trends in solvency and activity ratios at PT Unilever (UNVR) during the 2021–2023 period. The solvency ratio is measured by the Debt to Equity Ratio (DER), while the activity ratio is measured by Total Assets Turnover (TAT). The data used is secondary data obtained from the company's annual
report published on the Indonesia Stock Exchange. The analysis shows that PT Unilever tbk DER increased from 3.41 times in 2021
to 3.92 times in 2023. This increase indicates the company's increasing reliance on
external funding rather than equity, thus increasing financial risk. Meanwhile, the TAT ratio fluctuated, reaching 2.07 times in 2021, rising to 2.25 times in 2022, and then slightly decreasing to 2.16 times in 2023. This indicates that the company's effectiveness in utilizing assets to generate sales remains quite good, although its
efficiency declined slightly towards the end of the observation period. Overall, PT Unilever tbk’s financial structure during the 2021–2023 period remained dominated by debt, while asset performance remained stable. The company is advised to strengthen its internal capital structure to reduce dependence on external financing and improve asset management efficiency in generating revenue.