Financial Performance Analysis At PT. Ultrajaya Milk Industry Tbk & Trading Company Tbk

Heni Herawati; Alwi Alwi; Nurul Huda

doi:10.63922/ijebir.v5i04.4525

Heni Herawati Program Studi Manajemen, Sekolah Tinggi Ilmu Ekonomi Bima
Alwi Alwi Program Studi Manajemen, Sekolah Tinggi Ilmu Ekonomi Bima
Nurul Huda Program Studi Manajemen, Sekolah Tinggi Ilmu Ekonomi Bima

DOI: https://doi.org/10.63922/ijebir.v5i04.4525

Keywords: Financial Performance, Gross Profit Margin, Cash Ratio, Long Term Debt Ratio, Inventory Turnover, PT Ultrajaya Milk Industry & Trading Company Tbk.

Abstract

This study aims to analyze the financial performance of PT Ultrajaya Milk Industry & Trading Company Tbk during the period 2016–2025 based on profitability, liquidity, solvency, and activity ratios. The ratios used in this study include Gross Profit Margin (GPM), Cash Ratio, Long Term Debt Ratio (LTDR), and Inventory Turnover (ITO). The research employed a quantitative method with a descriptive approach. The data used were secondary data obtained from the annual financial statements of PT Ultrajaya Milk Industry & Trading Company Tbk for the period 2016–2025 through documentation and literature study techniques. Data analysis was conducted using descriptive analysis and the One Sample t-Test to compare the average financial ratios with predetermined standards.

The results indicate that the Gross Profit Margin (GPM) ranged from 23.95% to 37.65%, with an average above the industry standard of 30% and a significance value of 0.000 < 0.05. The Cash Ratio exceeded the standard value of 100%, with a significance value of 0.001 < 0.05. The Long Term Debt Ratio (LTDR) ranged from 1.31% to 18.89%, remaining below the maximum standard of 20%, with a significance value of 0.029 < 0.05. The Inventory Turnover (ITO) ranged from 347.0 to 533.0 times, far exceeding the standard of 4 times, with a significance value of 0.000 < 0.05. These findings indicate that the financial performance of PT Ultrajaya Milk Industry & Trading Company Tbk during the period 2016–2025 was categorized as good to very good. The company demonstrated its ability to generate optimal profits, meet short-term obligations, maintain low long-term debt levels, and manage inventory effectively and efficiently.

References

Afrilia, V., Zulaihati, S., & Kismayanti Respati, D. (2025). Ekopedia : Jurnal Ilmiah Ekonomi. Jurnal Ilmiah Ekonomi, 1(2), 450–458.
Anggriani, N. W. O., Gama, A. W. S., & Astiti, N. P. Y. (2021). PENGARUH TOTAL ASSETS TURN OVER, DEBT TO EQUITY RATIO, PRICE EARNING RATIO TERHADAP HARGA SAHAM PADA PERUSAHAAN TRANSPORTASI YANG TERDAFTAR DI BURSA EFEK INDONESIA. 2, 287–298.
Fauji, & Nurdiansyah, D. H. (2025). PENGARUH DEBT TO ASSET RATIO DAN DEBT TO EQUITY RATIO TERHADAP NILAI PERUSAHAAN ( Studi Kasus pada Perusahaan Sub Sektor Industri Media yang Terdaftar di Bursa Efek Indonesia Periode 2021-2024 ). 21(1), 85–96.
Febriana Puspasari, M., Suseno, Y. D., & Sriwidodo, U. (2017). Pengaruh Current Ratio, Debt To Equity Ratio, Total Asset turnover, Net Profit Margin dan Ukuran Perusahaan terhadap Pertumbuhan Laba. Jurnal Manajemen Sumber Daya Manusia, 11(1), 121–133.
Harahap, W. F., & Siregar, Q. R. (2025). Bursa : Jurnal Ekonomi dan Bisnis Pengaruh Rasio Keuangan Terhadap Pertumbuhan Laba Pada. 4(3), 121–132.
Hasanah, U. N., Mas’ud, M., & Zakariah, J. (2023). Pengaruh Profitabilitas Terhadap Nilai Perusahaan Pada Perusahaan Food and Beverages yang Terdaftar di Bursa Efek Indonesia. 3, 8901–8914.
Jurnal, S., Sosial, I., Aneka, P. T., Tbk, T., & Marin, R. P. (2022). Pengaruh GPM , NPM , dan DER Terhadap Harga Saham pada. 1(4), 504–512. https://doi.org/10.55123/sosmaniora.v1i4.1183
Lestari, L. A., Suharti, T., & Yudhawati, D. (2022). PENGARUH KINERJA KEUANGAN TERHADAP HARGA SAHAM PADA PERUSAHAAN SUB SEKTOR BATUBARA. 5(1), 120–127.
Nuroktofiana, A. (2023). Pengaruh Net Profit Margin , Long Term Debt To Equity Ratio , Debt To Equity Ratio , Total Asset Turn Over Ratio Terhadap Return On Asset Pada PT . Nippon Indosari Corpindo Tbk. 1(4). https://doi.org/10.30640/trending.v1i4.1684
Reno, S., & Indriyani, P. (2025). Analisis Kinerja Keuangan Rasio Kinerja Profitabilitas ( Studi pada PT Lintas Rakyat Remittance tahun 2019-2023 di Tanjung Balai Karimun ). 5, 6983–6993.
Rizkika. (2023). PENGARUH LIKUIDITAS, SOLVABILITAS, AKTIVITAS, DAN PROFITABILITAS TERHADAP LABA PADA PERUSAHAAN PERTAMBANGAN YANG TERDAFTAR DI BEI. 2(12), 5482–5493.
Sugiyono. (2021). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Alfabeta.
Ulil, A., Al, A., & Salatiga, I. (2021). ANALISIS PENGARUH ROA , ROE , EPS TERHADAP HARGA SAHAM. January. https://doi.org/10.25139/jaap.v4i2.3051
Wardani, N. A., & Sulistyani, T. (2024). PENGARUH DEBT TO EQUITY RATIO (DER) DAN GROSS PROFIT MARGIN (GPM) TERHADAP PERTUMBUHAN LABA PADA PT. ASTRA INTERNATIONAL Tbk PERIODE 2014-2023. JORAPI : Journal of Research and Publication Innovation, 2(4), 2828–2836. https://jurnal.portalpublikasi.id/index.php/JORAPI/index
Yuniastuti. (2017). Pengaruh Rasio Keuangan terhadap Harga Saham. Grasindo.