ANALISIS PERBANDINGAN KINERJA KEUANGAN ANTARA PERUSAHAAN FARMASI MILIK PEMERINTAH (BUMN) DENGAN PERUSAHAAN FARMASI SWASTA YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

The goal of this research is to find and analyze the financial difference between Indonesian Government Pharmacy (BUMN) and Private Pharmacy in Bursa Efek Indonesia. The research data are secondary data in the form of financial report (Neraca dan laporan Laba-Rugi perusahaan Farmasi Swasta di Bursa Efek Indonesia periode 2005-2009.)  Sample in this research are nine companies that consists of two government companies and seven private companies. The analysis method is Independent Sample Test. According to differences test using independent sample test implies that the variables;  gross profit margin (GPM), operating profit margin (OPM), net profit margin (NPM), return on asset (ROA), return on investment, return on equity (ROE), and earnings per share (EPS) are considered as variables with valuable contribution to differentiate financial advancement between BUMN and Bursa Efek Indonesia.  That is because each variable results probability value (2-tail significant) lower than α = 0,05, therefore the variables indicate the valuable financial differences between Government Pharmacy Company (BUMN) and Private Pharmacy Company of Bursa Efek Indonesia. The main difference is that private company has more wide opportunity, even international transaction (export) with better management. Therefore the financial record is better. Furthermore, the average ratio of GPM, OPM, NPM, ROA, ROI, ROE, and EPS of private company is bigger than the government company. As a result GPM, OPM, NPM, ROA, ROI, ROE, and EPS of private company are better than the government company.