RASIO KEUANGAN

2015 2016
Acid Test/ Quick Ratio: Acid Test/ Quick Ratio:
Cash + Acc Rcvbl + ST Investments Cash + Acc Rcvbl + ST Investments
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
1.549.28170.064 350.4671.315.371
= = 0,1636 = = 0,1993
9 .897.188 8.356.807

Interest Coverage Ratio: Interest Coverage Ratio:

𝐸𝐵𝐼𝑇 𝐸𝐵𝐼𝑇
𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐸𝑥𝑝𝑒𝑛𝑠𝑒 𝐼𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝐸𝑥𝑝𝑒𝑛𝑠𝑒
Rasio Likuiditas (206.650) 1.430.802
= = (0,5024) = = (2,9683)
(411.306) (482.014)

Working Capital: Working Capital:

𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡𝑠 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐴𝑠𝑠𝑒𝑡𝑠
𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 𝐶𝑢𝑟𝑟𝑒𝑛𝑡 𝐿𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠
10.680.145 11.246.586
= = 1,0791 = = 1,3457
9 .897.188 8.356.807

Debt to Equity : Debt to Equity :

𝑇𝑜𝑡𝑎𝑙 𝐷𝑒𝑏𝑡 𝑇𝑜𝑡𝑎𝑙 𝐷𝑒𝑏𝑡
𝑇𝑜𝑡𝑎𝑙 𝐸𝑞𝑢𝑖𝑡𝑦 𝑇𝑜𝑡𝑎𝑙 𝐸𝑞𝑢𝑖𝑡𝑦
16.334.245 15.941.975
= = 2,1428 = = 1,5630
7.622.770 10.199.435

Debt to Asset Ratio: Debt to Asset Ratio:

Total Debt Total Debt
Total Asset Total Asset
Rasio Pembiayaan 16.334.245 15.941.975
= = 0,6818 = = 0,6098
23.957.015 26.141.410

Solvency Ratio: Solvency Ratio:

Earning After Tax+Depreciation
ST Liab + LT Liab
(385.509)+0
= = (0,0236)
9 .897.188+6.437.057
Earning After Tax+Depreciation
ST Liab + LT Liab
2.599.539+0
= = 0,1630
8.356.807+7.585.168

Asset Turnover: Asset Turnover:

Revenue Revenue
Total Assets Total Assets
18.611 163.445
Rasio Aktivitas = = 0,0007 = =0,0062
23.957.015 26.141.410

Average Collection Period: Average Collection Period:

 Days x Avg Amount of Acc Receivables Days x Avg Amount of Acc Receivables
Net Credit Sales During The Period Net Credit Sales During The Period
360×3.023.512 360×2.503.938
= = 30,0430 = = 30,2975
36.230.113 29.752.126
Inventory Turnover: Inventory Turnover:
Sales Sales
Inventory Inventory
36.230.113 29.752.126
= = 10,6880 = = 6,7809
3.389.788 4.387.631

Earnings Per Share: Earnings Per Share:

𝑁𝑒𝑡 𝐼𝑛𝑐𝑜𝑚𝑒 𝑁𝑒𝑡 𝐼𝑛𝑐𝑜𝑚𝑒
= =
𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒𝑠 𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒𝑠
(385.509) 2.599.539
= = (0.1653) = = 1,1150
2.331.315 2.331.315

Price to Earnings: Price to Earnings:

𝑆ℎ𝑎𝑟𝑒 𝑃𝑟𝑖𝑐𝑒 𝑆ℎ𝑎𝑟𝑒 𝑃𝑟𝑖𝑐𝑒
𝐸𝑃𝑆 𝐸𝑃𝑆
𝑅𝑃 200 𝑅𝑃 200
= (0.1653) = (1.209,92) = =179,37
1,1150

Book Value per Share: Book Value per Share:

𝑇𝑜𝑡𝑎𝑙 𝐶𝑜𝑚𝑚𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦 𝑇𝑜𝑡𝑎𝑙 𝐶𝑜𝑚𝑚𝑜𝑛 𝐸𝑞𝑢𝑖𝑡𝑦
𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒𝑠 𝑂𝑢𝑡𝑠𝑡𝑎𝑛𝑑𝑖𝑛𝑔 𝑆ℎ𝑎𝑟𝑒𝑠
Rasio Kinerja 1.662.472 1.662.472
= 2.872.193.366
==0,000057 = 2.872.193.366
==0,000057

Price to Book Value: Price to Book Value:

Share Price Share Price
= =
BVPS BVPS
𝑅𝑝 200 𝑅𝑝 200
= 0,000057 = 3.508.771,93 = 0,000057 = 3.508.771,93

Return on Assets: Return on Assets:

Net Income Net Income
Total Assets Total Assets
(385.509) 2.599.539
= 23.957.015 =( 0,0160) = 26.141.410 = 0,0994

Cash Return on Asset: Cash Return on Asset:

 Cash Flow from Operation Cash Flow from Operation
ROA ROA
489.083 (1.312.751)
= (0,0160) = (30.567.687,5) = = 13.206.750,5
0,0994

Dividend Payout Ratio: Dividend Payout Ratio:

Total Dividend Total Dividend
Net Income Net Income
(14.471) 2.8722
= (385.509) = 0,0375 = 2.599.539 = 0,0110
(14.471)
== = 0,03
(385.509)

Dividend Yield: Dividend Yield:

Dividend Per Share Dividend Per Share
Share Price
Share Price
42.000.000
= = 30.000 42.000.000
𝑅𝑝 1400 = = 30.000
𝑅𝑝 1400

Gross Profit Margin : Gross Profit Margin :

Gross Profit Gross Profit
Revenue Revenue
3.939.032 4.236.116
= = 214,194 = = 251,386
18.390 1 6.851

Net Profit Margin: Net Profit Margin:

Net Income Net Income
Revenue Revenue
(385.509) 2.599.539
= 18.390
= (20,962) = = 154,266
1 6.851

Return on Equity: Return on Equity:

Net Income Net Income
Total Shareholder′s Equity Total Shareholder′s Equity
(385.509) 2.599.539
= 7.615.936 = 10.194.108

= (0,0506) = 0,2550
 EVALUASI RASIO KEUANGAN

Rasio Perubahan Kinerja Perusahaan

Rasio Likuiditas :
Acid Test Turun Kurang Baik
Interest Coverage Naik Baik
Working Capital Naik Baik
Rasio Pembiayaan :
DER Turun Baik
Debt to Asset Turun Baik
Solvency Naik Baik
Rasio Aktivitas :
Asset Turnover Turun Kurang Baik
Average Collection Naik Kurang Baik
Period
Inventory Turnover Turun Kurang Baik
Rasio Kinerja :
EPS Naik Baik
P/E Naik Kurang Baik
BVPS Tetap Baik
P / BV Tetap Kurang Baik
ROA Naik Baik
Cash ROA Naik Baik
DPR Naik Baik
Div Yield Tetap Baik
Gross Profit Margin Naik Baik
Net Profit Margin Naik Baik
ROE Naik Baik
Perhitungan Analisis Horizontal ,Analisis Vertikal, Analisis Rasio dan Analisis Duppont
Analisis Horizontal

PT. Sinarmas Agro Resources and Technology

Condensed Balanced Sheet
December 31
2015 2016 Amount Percent
Total Asset 23.957.015 26.141.410 2.184.395 9.1%
Total Liabilities 16.334.245 15.941.975 (392.270) 2.4%
Total Stockholder's equity 7.622.770 10.199.435 2.576.665 33.8%
Total Liabilities and 23.957.015 26.141.410 2.184.395 9.1%

Analisis Verttikal

PT. Sinarmas Agro Resources and Technology

Condensed Balanced Sheet
December 31
2016 2015
Amount Percent Amount Percent
Sales Revenue 36.230.113 100% 29.752.126 100%
Sales Return and allowances 0 0% 0 0%
Net Sales 36.230.113 100% 29.752.126 100%
Cost of goods sold 32.291.081 89,1% 25.516.008 85.8%
Gross Profit 3.939.032 10,9% 4.236.118 14,2%
Selling Expenses 1 .619.335 4,5% 1.548.624 5,2%
Administrative Expenses 1 .302.678 3,6% 1.242.048 4,2%
Total Operating Expenses 2.922.013 8,1% 2.790.670 9,2%
Income from Operation 1.017.019 2,8% 1.445.448 4,8%
Other income and expenses (1.223.669) -3,4% (14.646) -0,04%
Income before taxes (206.650) 8,7% 1.430.802 4,4%
Income taxes expense 178.859 0,5% 1.168.737 3,9%
Net Income (385.509) 8,2% 2.599.539 0,5%

Analisis Duppont
Untuk Tahun 2015:
ROE = Profit margin x total asset turnover x equity multiplier
net income sales 𝑎𝑠𝑠𝑒𝑡
𝑅𝑂𝐸 = 𝑥 𝑥
sales 𝑎𝑠𝑠𝑒𝑡 𝑒𝑞𝑢𝑖𝑡𝑦
 (385.509) 36.230.113 23.957.015
𝑅𝑂𝐸 =  x
36.230.113 23.957.015 7.622.770

=(0,01) x 1,51x3,14
=(0,0474)=(4,74%)
Untuk Tahun 2016:
ROE = Profit margin x total asset turnover x equity multiplier
net income sales 𝑎𝑠𝑠𝑒𝑡
𝑅𝑂𝐸 = 𝑥 𝑥
sales 𝑎𝑠𝑠𝑒𝑡 𝑒𝑞𝑢𝑖𝑡𝑦
2.599.539 29.752.126 26.141.410
𝑅𝑂𝐸 =  x
29.752.126 26.141.410 10.199.435

=0,08 x 1,14x 2,56

= 0,233=(23,33%)