Analisis Financial Distress Menggunakan Model Altman Z-Score Pada Perusahaan Manufaktur Yang Tercatat Di Bursa Efek Indonesia Periode 2018-2020

Abstract

This research uses a quantitative descriptive research design, which is a form of research based on data collected systematically regarding the facts and properties of the object under study by connecting the variables involved in it. The data used is in the form of quantitative secondary data. The sampling technique using the purposive sampling technique is a method of collecting information based on only certain sample targets that are representative, so that 15 manufacturing companies are obtained as research samples. The results of this study show that in 2018 there were 8 companies in a healthy position, 4 companies in a gray  position and 3 companies in distress. In addition, in 2019 there were 7 companies in a healthy position, 3 companies in a gray position and 5 companies in a distress position.  And in 2020 there were 5 companies in a healthy position, 6 companies in a gray position and 4 companies in a distress position. The result is in accordance with the achievement of the z-score value, namely if the company is in  a safe position  , the resulting value is Z > 2.99, the company is in the gray area position, the resulting value is 1.81 < Z < 2.99 and the company is in the position  of distress generated is Z < 1.81.