Financial Statement Analysis of PT XWZ Tbk For The Periode of 2019-2023
Abstract
This study aims to analyze the financial performance of PT Gudang Garam Tbk during the period 2021-2023 through a financial ratio approach, which includes liquidity, solvency, and profitability ratios. The results of the analysis show a downward trend in the liquidity ratio, which could threaten the company's ability to meet short-term obligations in the future. Although the company's solvency is in a stable condition, fluctuations in the debt to equity ratio (DER) require attention to maintain a balanced capital structure. On the other hand, the company's profitability experienced a significant decline during the period 2019-2022, with signs of recovery starting to appear in 2023. This study concludes that although PT Gudang Garam Tbk still has a relatively strong financial capacity, attention to liquidity and profitability trends is essential to maintain competitiveness and business sustainability amidst the increasingly complex challenges of the cigarette industry.
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