JRK Maret 2025 ANALISIS FINANCIAL DISTRESS MENGGUNAKAN METODE ALTMAN Z-SCORE UNTUK MEMPREDIKSI KEBANGKRUTAN PADA PERUSAHAAN HOTEL YANG TERDAFTAR DI BEI PERIODE TAHUN 2020 - 2022

Abstract

This study aims to analyze the potential for financial distress using the Altman Z-score method in hotel companies listed on the Indonesia Stock Exchange for the period 2020-2022. This research is descriptive research with a quantitative approach. Samples were taken using purposive sampling technique with a total of 17 companies out of 22 hotel companies listed on the Indonesia Stock Exchange for the period 2020-2022. The data used in this study are annual financial reports. This study uses the Modified Altman Z-Score method. The results of this study indicate that in 2020 there were 5 companies (29.41%) in the distress category, 4 companies (23.53%) in the grey area category and 8 companies (47.06%) in the non-distress category. In 2021 there are 4 companies (23.53%) in the distress category, 4 companies (23.53%) in the grey area category and 9 companies (52.94%) in the non-distress category. In 2022 there were 5 companies (29.41%) in the distress category, 3 companies (17.65%) in the grey area category and 9 companies (52.94%) in the non-distress category. From the results of this study, it is hoped that companies can be more optimal in managing the company's financial performance to avoid financial distress conditions.