ANALYSIS OF FINANCIAL RATIOS OF LIQUIDITY, SOLVENCY, ACTIVITY, AND PROFITABILITY IN ASSESSING THE FINANCIAL PERFORMANCE OF PT ASPIRASI HIDUP INDONESIA TBK 2015–2024

Abstract

This study aims to assess the financial performance of PT Aspirasi Hidup Indonesia Tbk for the period 2015–2024 by measuring liquidity, solvency, activity, and profitability ratios. The method used is quantitative descriptive with secondary data in the form of time series financial reports obtained from the official website of the Indonesia Stock Exchange. The results show that the company's liquidity ratios are very healthy, with an average Current Ratio of 677.48%, Quick Ratio of 309.64%, and Cash Ratio of 225.82%, far above industry standards, indicating the company's high ability to meet short-term obligations. The solvency ratios show mixed conditions: the average Debt to Asset Ratio (DAR) of 21.75% is considered healthy, while the average Debt to Equity Ratio (DER) of 242.38% indicates high dependence on debt. In terms of activity, asset utilization efficiency is still low, with an average Total Asset Turnover (TATO) of 0.30 times and Fixed Asset Turnover (FATO) of 1.11 times, far below industry standards. Profitability analysis shows that the average Gross Profit Margin (GPM) of 48.24% is above standard, but the average Net Profit Margin (NPM) of 11.72%, Return on Assets (ROA) of 4.19%, and Return on Equity (ROE) of 11.57% are below standard, indicates that net profitability is not yet optimal. Overall, PT Aspirasi Hidup Indonesia Tbk shows excellent liquidity, a capital structure that needs to balance debt and equity, low asset efficiency, and net profitability that still needs improvement. These findings form the basis for management to improve asset utilization, optimize debt management, and maintain a balance between sales growth and operating costs for the sustainability of the company's financial performance.