ANALISIS KINERJA KEUANGAN PT HM SAMPOERNA TBK PADA PERIODE 2020 – 2023 MENGGUNAKAN PENDEKATAN RASIO KEUANGAN
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Abstract
This study aims to evaluate the financial performance of PT Hanjaya Mandala Sampoerna Tbk by employing financial ratio analysis over the period of 2020 to 2023. The analysis emphasizes key indicators of liquidity, solvency, profitability, and activity to assess the company’s structural stability and fiscal resilience amid regulatory shifts in the tobacco industry. A descriptive-quantitative method was adopted, utilizing secondary data derived from audited annual reports. The findings indicate that liquidity ratios exhibited moderate fluctuations, while solvency ratios declined proportionally in line with increasing equity. Meanwhile, profitability ratios contracted for two consecutive years before recovering significantly in 2023, marked by a Return on Equity (ROE) increase to 27.11%. These results affirm the company’s ability to manage its financial structure efficiently and adaptively in response to external pressures, particularly excise policy changes and consumption volatility. Therefore, financial statements are not merely administrative instruments, but strategic representations of a firm’s economic direction and managerial quality.
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