Financial Distress Analysis at PT Link Net Tbk for 2019-2022 Period

Authors

Irnaini Imran Hasanuddin University
Cepi Pahlevi Faculty of Economic and Business, Hasanuddin University, Makassar, Indonesia
Fauzi R. Rahim Faculty of Economic and Business, Hasanuddin University, Makassar, Indonesia

Keywords:

Financial Distress, Altmant Z-Score, Kesulitan Keuangan

Abstract

Tujuan dari penelitian ini adalah untuk menentukan dan mengkaji tingkat kesulitan keuangan yang dialami oleh PT Link Net Tbk yang menjadi objek penelitian ini khususnya untuk periode 2019 - 2022. Teknik penelitian yang digunakan adalah Model Altman Z-Score versi terbaru yang telah dimodivikasi. Informasi yang digunakan adalah informasi kuantitatif yang diperoleh dari laporan keuangan tahunan periode 2019 sampai dengan tahun 2020. Variabel yang diteliti adalah rasio keuangan, meliputi rasio likuiditas khususnya current ratio, rasio profitabilitas khususnya laba ditahan, rasio leverage dan rasio solvabilitas. Dampak lanjutan dari penanganan informasi kemudian dipecah kembali menggunakan komputasi menggunakan model Z-Score. Hasil eksplorasi menunjukkan bahwa pada tahun 2019 PT Link Net Tbk masih dalam kondisi bagus atau aman. Pada tahun 2020 dan 2021 PT Link Net Tbk berada dalam kondisi kabur yang berarti mengindikasikan kesulitan keuangan. Hingga tahun 2022, PT Link Net Tbk pada akhirnya akan mengalami kesulitan keuangan yang luar biasa dan bahkan berpotensi mengalami kegagalan.

The purpose of this deepening is to determine and assess the level of financial distress experienced by PT Link Net Tbk, which is the object of this examination, especially for the period 2019 - 2022. The examination technique used is the latest version of the modified Altman Z-Score Model. The information used is quantitative information obtained from annual monetary reports for the period 2019 to 2020. The variables examined are financial ratios, there are liquidity ratio: current ratio, profitability ratio: retained eaarnings, leverage, and solvency ratio. The advanced impact of information handling is then broken down again using computation using the Z-Score model. The exploration results show that in 2019 PT Link Net Tbk is still in good or safe condition. In 2020 and 2021 PT Link Net Tbk is in a blurred condition which means it indicates monetary woes. Until 2022, PT Link Net Tbk will eventually experience tremendous financial distress and even have the potential to fail.

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