Modul Vi Perencanaan Keuangan II

8/18/2019 Modul Vi Perencanaan Keuangan II

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MODUL VI PERENCANAAN KEUANGAN II

VI. 1 PERFORMA NERACA PERUSAHAAN

Tabel VI.1 Performa Neraca Perusahaa

2017 2018 2019

AKTIVA

Currents Asset

!al"o Kas A#h$r R% &'(.(&).*+, R% 1.-(+.,*1.- R% 1.+),.(+&.,*+

Perse"$aa A#h$r /ara0

a"$ R% ,'.)&(.-1' R% &.(**.&& R% 1(,.1-.++'

Tot! Currents Asset R" 98#.988.8$9 R" 1.28#.%28.7$0 R" 1.$90.222.007

F&'e( ) Intn*&+!e AssetsMes$ R% +.,*.,(( R% +.,*.,(( R% +.,*.,((

Perala2a R% ),(.((( R% ),(.((( R% ),(.(((

Ke"araa R% -.(((.((( R% -.(((.((( R% -.(((.(((

/a0ua R% 1&(.(((.((( R% 1&(.(((.((( R% 1&(.(((.(((

Perala2a Ka2or R% 1-(.((( R% 1-(.((( R% 1-(.(((

!IUP R% ,.((( R% ,.((( R% ,.(((

Mer# Da0a0 R% *.*((.((( R% *.*((.((( R% *.*((.(((

A#umulas$ De%res$as$

/a0ua R% 3+.,(.(((4 R% 3&.,((.(((4 R% 31+.-,(.(((4

A#umulas$ De%res$as$Perala2a R% 3',,.'((4 R% 31(.*((4 R% 31.(*,.&((4


Mes$ R% 3'(.(((4 R% 31.+*(.(((4 R% 3-.1&(.(((4


Perala2a Ka2or R% 31-.(((4 R% 3-+.(((4 R% 3'*.(((4


Ke"araa R% 3-.((.(((4 R% 3,.+((.(((4 R% 3).1((.(((4

A#umulas$ Amor2$sas$ Mer#

Da0a0 R% 3-.-((.(((4 R% 3+.+((.(((4 R% 3*.*((.(((4

A#umulas$ Amor2$sas$ !IUP R% 31,.(((4 R% 3'(.(((4 R% 3+,.(((4

Tot! F&'e( ) Intn*&+!eAssets R" 218.,$9.200 R" 207.%9%.900 R" 19%.9#,.%00

Tot! Assets R"1.202.,,8.0$9 R"1.,91.#2$.%$0 R" 1.787.1$%.%07

PASSIVA

-&+&!&t&es

Kre(&t n/ R" $2.098.1%$ R" 27.022.,#0 R" 0

Tot! -&+&!&t&es R" $2.098.1%$ R" 27.022.,#0 R" 0

C"&t!

Mo"al A5al R% *).'(.(1( R% *).'(.(1( R% *).'(.(1(

Laba "$2aha R% +-.(+-.))+ R% '1'.&,'.'- R% '--.),'.')

A#umulas$ laba "$2aha R% +-.(+-.))+ R% ),.&&*.-11 R% 1.1().)+&.,&)





%e"e#. N$la$ current ratio 7a0 "$%eroleh meru%a#a has$l "ar$ a#2$;a lacar "$ba0$

"e0a hu2a0 lacar.

2. Quick RatioTabel VI.' Quick Ratio

Tahun 2017 2018 2019

Aktiva %ancar $&!r'!iaan

Rp930.098.645

Rp1.204.561.772

Rp1.485.049.564

Hutang %ancar Rp 52.098.165Rp27.022.430 Rp (0)

uick Rati" 17#85 44#58 $

Aal$s$s 6

Quick ratio me0u#ur #emam%ua %erusahaa memeuh$ #e5a8$ba 8a0#a %e"e#

"a meru%a#a u#ura 7a0 %al$0 ser$0 "$0ua#a "alam aal$s$s eraca #eua0a.

Pa"a 2abel "$a2as meu8u##a $la$ ras$o 2ahu -(1 sebesar 1.), "a %a"a 2ahu

-(1) sebesar ++.,) ma#a hal $$ mea"a#a 2er8a"$7a %e$0#a2a. N$la$ quick ratio

7a0 "$%eroleh meru%a#a has$l %erh$2u0a a#2$;a lacar < hu2a0 lacar "$ba0$

"e0a hu2a0 lacar. Performa %erusahaa "$#a2a#a ba$# a%ab$la $la$ quick ratio

se2$a% 2ahu7a me$0#a2 #area sema#$ besar $la$ quick ratio meu8u##a bah5a

#emam%ua a#2$;a lacar "alam meu2u%$ hu2a0 lacar.

VI.2.1 Rs&o A/t&5&ts

1. Inventory TurnoverTabel VI.+ Inventory Turnover

Tahun 2017 2018 2019

T"ta% *+, Rp1.389.703.527

Rp1.448.939.124

Rp1.476.084.288

&!r'!iaan Akhir &r"uk -ai Rp 53.890.213

Rp79.066.979

Rp105.172.443

T* 25#78767918 18#32546468 14#03489588

Aal$s$s 6

Inventory Turnover 3ITO4

meru%a#a ras$o 7a0 me0u#ur a#2$;$2as %erse"$aa

%erusahaa. Pa"a 2abel "a%a2 "$#e2ahu$ $la$ ITO 7a0 "$%eroleh u2u# 2ahu -(1

sebesar -,.)*&1)9 2ahu -(1) sebesar 1).'-,+*+*)9 "a 2ahu -(1& sebesar 1+.('+)&,)) "ar$ has$l 7a0 "$%eroleh meu8u##a bah5a $la$ ITO 7a0 "$%eroleh



me0alam$ %eurua se2$a% 2ahu7a. N$la$ ITO 7a0 "$%eroleh meru%a#a has$l

%erh$2u0a 2o2al COG! "$ba0$ "e0a %erse"$aa a#h$r %ro"u# 8a"$. Performa

%erusahaa "$ #a2a#a ba$# a%ab$la $la$ ITO se2$a% 2ahu7a me$0#a2 #area

sema#$ besar $la$ ITO ma#a me0$"$#as$#a bah5a %er%u2ara bara0 8a"$ "a

2er8ual "$ "alam %erusahaa sema#$ ce%a2. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ $la$ ITO

%erusahaa CI/ERAL me0alam$ %eurua "a hal $$ mea"a#a %erforma

%erusahaa #ura0 ef$s$e "alam %er%u2ara %ro"u# %erse"$aa. =a#2or 7a0 "a%a2

me7ebab#a #ura0 ef$s$e7a %er%u2ara %ro"u# %erse"$aa a"alah #area %a"a

a5al 2ahu 7a$2u 2ahu -(1 mem$l$#$ %erse"$aa 7a0 ba7a#.

VI.2.2 Rs&o So!5+&!&ts

1. Total ebit to Total !sset RatioTabel VI., Total ebit to Total !sset Ratio

Tahun 2017 2018 2019

T"ta%Hutang

Rp52.098.165

Rp27.022.430 Rp (0)

T"ta% Aktiva Rp218.459.200

Rp207.696.900

Rp196.934.600

T/TAR 0#238 0#130 0#000

Aal$s$s 6

Total ebt to Total !sset Ratio 3TDTAR4 me0u#ur %ro%ors$ 2o2al asset 7a0 "$b$a7a$

oleh #re"$2or. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ bah5a $la$ TDTAR u2u# 2ahu -(1

sebesar (.-')9 2ahu -(1) sebesar (.1'(9 "a 2ahu -(1& sebesar ( "a hal $$

meu8u##a %eurua $la$ ras$o TDTAR se2$a% 2ahu7a. N$la$ ras$o TDTAR

"$%eroleh "ar$ has$l %erh$2u0a 2o2al hu2a0 "$ba0$ "e0a 2o2al a#2$;a. Performa

%erusahaa "$#a2a#a ba$# a%ab$la $la$ TDTAR se2$a% 2ahu7a meuru9 hal $$

me0$"$#as$#a bah5a res$#o %erusahaa 2$"a# "a%a2 memba7ar hu2a0 sema#$

#ec$l. Pa"a %erusahaa CI/ERAL "a%a2 "$#e2ahu$ bah5a %erforma %erusahaa ef$s$e

#area mem$l$#$ $la$ TDTAR 7a0 meuru se2$a% 2ahu7a "a me0$"$#as$#a

bah5a res$#o %erusahaa 2$"a# "a%a2 memba7ar hu2a0 sema#$ #ec$l.

-. Total ebit to "quity RatioTabel VI.* Total ebit to Total "quity Ratio

Tahun 2017 2018 2019 T"ta%Hutang

Rp52.098.165

Rp27.022.430 Rp (0)



T"ta% "a% Rp472.042.884

Rp313.953.327

Rp322.853.387

T/R 0#110 0#086 0#000

Aal$s$s 6

Total debit to equity ratio meru%a#a %erba"$0a a2ara hu2a0:hu2a0 "a e#u$2as

"alam %e"aaa %erusahaa "a meu8u##a #emam%ua mo"al %erusahaa u2u#

memeuh$ seluruh #e5a8$ba7a. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ bah5a $la$ TDER

u2u# 2ahu -(1 sebesar (.11(9 2ahu -(1) sebesar (.()*9 "a 2ahu -(1& sebesar (

"a hal $$ meu8u##a %eurua $la$ ras$o TDER se2$a% 2ahu7a. Performa

%erusahaa "$#a2a#a ba$# a%ab$la $la$ TDER se2$a% 2ahu7a meuru9 hal $$

me0$"$#as$#a bah5a #emam%ua mo"al "alam memeuh$ #e5a8$ba7a. N$la$

ras$o TDER "$%eroleh "ar$ has$l %erh$2u0a 2o2al hu2a0 "$ba0$ 2o2al mo"al.

'. Ti#e Interest "arned

Tabel VI. Ti#e Interest "arned

Tahun 2017 2018 2019

T Rp634.253.986

Rp446.737.190

Rp430.471.183

!anunga

Rp4.863.474 Rp 3.057.019

Rp1.110.325

T 130#412 146#135 387#698

Aal$s$s 6

Ti#e Interest "arned a"alah ras$o 7a0 me0u#ur #emam%ua %erusahaa u2u#

memba7ar beba bu0a 2ahua7a. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ $la$ TIE se2$a%

2ahu7a me$0#a2 7a$2u %a"a 2ahu -(1 sebesar 1'(.+1-9 2ahu -(1) sebesar

1+*.1',9 "a 2ahu -(1& sebesar ').*&). N$la$ ras$o TIE "$%eroleh "ar$ has$l

%erh$2u0a E/IT "$ba0$ "e0a beba bu0a. Performa %erusahaa "$#a2a#a ba$#

a%ab$la $la$ ras$o TIE se2$a% 2ahu7a me$0#a29 hal $$ me0$"$#as$#a bah5a

#eu2u0a a#a me$0#a2. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ bah5a %erusahaa

mem$l$#$ %erforma 7a0 ba$# #area beba bu0a 7a0 "$m$l$#$ se2$a% 2ahu7a

meuru "a #eu2u0a 7a0 "$%eroleh se2$a% 2ahu me$0#a2.

VI.2.1 Rs&o Rent+&!&ts

1. $ross %rofit &argin

Tabel VI.) $ross %rofit &argin

Tahun 2017 2018 2019Laa"t"r

Rp1.299.234.366 Rp 1.272.814.088

Rp1.272.903.798



&!nua%an

Rp2.688.937.893 Rp 2.721.753.212

Rp2.748.988.086

+& 0#483 0#468 0#463

Aal$s$s 6

$ross 'rofit #argin a"alah ras$o 7a0 me0u#ur %erse2ase laba 7a0 "$%eroleh

sesu"ah %erusahaa me0has$l#a %ro"u#. Pe0u#ura $$ a"alah u#ura %erse2ase

"ar$ se2$a% has$l %e8uala sesu"ah %erusahaa memba7ar har0a %o#o# %e8uala. Dar$

2abel "$a2as "a%a2 "$#e2ahu$ $la$ GPM se2$a% 2ahu7a meuru 7a$2u %a"a 2ahu -(1

sebesar (.+)'9 2ahu -(1) sebesar (.+*)9 "a 2ahu -(1& sebesar (.+*'. N$la$ ras$o

GPM "$%eroleh "ar$ has$l %erh$2u0a %e8uala "$#ura0 COG! #emu"$a "$ba0$

"e0a %e8uala. !ema#$ 2$00$ gross 'rofit #argin ma#a sema#$ ba$#. Pa"a

%erusahaa CI/ERAL "ar$ gross 'rofit #argin 7a0 "$has$l#a meu8u##a

%erforma %erusahaa meuru se2$a% 2ahu7a hal $$ me0$"$#as$#a %rese2ase

laba a2au E/IT sema#$ meuru se2$a% 2ahu7a.

-. 'erating $rofit &arginTabel VI.& 'erating $rofit &argin

Tahun 2017 2018 2019

T Rp634.253.986

Rp446.737.190

Rp430.471.183

&!nua%an Rp2.688.937.893

Rp2.721.753.212

Rp2.748.988.086

*& 0#236 0#164 0#157

Aal$s$s 6

'erating 'rofit #argin me0u#ur %erse2ase laba 7a0 "$%eroleh sesu"ah %erusahaa

memba7ar semua b$a7a %ro"u#s$ "a b$a7a o%eras$ 32$"a# 2ermasu# %emba7ara b$a7a

bu0a9 %a8a#9 "a "$;$"e saham %refere4. Pa"a 2abel "$a2as "a%a2 "$s$m%ul#a bah5a

$la$ OPM 7a0 "$%eroleh se2$a% 2ahu7a meuru 7a$2u %a"a 2ahu -(1 sebesar

(.-'*9 2ahu -(1) sebesar (.1*+9 "a 2ahu -(1& sebesar (.1,. N$la$ ras$o GPM 7a0

"$%eroleh meru%a#a has$l %erh$2u0a E/IT 7a0 2elah "$%eroleh sebelum7a "$ba0$

"e0a %e8uala. Dar$ has$l OPM 7a0 "$%eroleh me0$"$#as$#a bah5a %rese2ase

laba %erusahaa a2au E/IT %erusahaa me0alam$ %eurua se2$a% 2ahu7a. >al

7a0 "a%a2 me7ebab#a laba %erusahaa a2au E/IT meuru a"alah 2$"a# ef$s$e7a

b$a7a o%eras$ 7a0 "$#eluar#a oleh %erusahaa.



'. et %rofit &arginTabel VI.1( et %rofit &argin

Tahun 2017 2018 2019

AT Rp472.042.884 Rp 313.953.327

Rp322.853.387

&!nua%an Rp2.688.937.893

Rp2.721.753.212

Rp2.748.988.086

& 0#176 0#115 0#117

Aal$s$s 6

et 'rofit #argin me0u#ur %erse2ase laba 7a0 "$%eroleh sesu"ah %erusahaa

memba7ar semua b$a7a:b$a7a 7a0 2er8a"$9 2ermasu# b$a7a bu0a9 %a8a#9 "a "$;$"e

saham %refere. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ bah5a $la$ NPM 7a0 "$%eroleh

%a"a 2ahu -(1) me0alam$ %eurua 2e2a%$ me$0#a2 #embal$ %a"a 2ahu -(1&

7a0 me0$"$#as$#a bah5a %rese2ase laba %erusahaa 3EAIT4 meuru %a"a 2ahu

-(1). N$la$ NPM 7a0 "$%eroleh meru%a#a has$l %erh$2u0a EAIT "$ba0$ "e0a

%e8uala.

+. Return on !ssetsTabel VI.11 Return on !ssets

Tahun 2017 2018 2019

AT

Rp

472.042.884

Rp

313.953.327

Rp

322.853.387 T"ta%Aktiva

Rp218.459.200

Rp207.696.900

Rp196.934.600

R*A 2#161 1#512 1#639

Aal$s$s 6

Return on !ssets 3ROA4 me0u#ur #eberhas$la maa8eme me00ua#a ase27a

u2u# me0has$l#a laba. Dar$ 2abel "$a2as "a%a2 "$#e2ahu$ bah5a $la$ ROA 7a0

"$%eroleh %a"a 2ahu -(1) me0alam$ %eurua 2e2a%$ me$0#a2 #embal$ %a"a

2ahu -(1& 7a0 meu8u##a %a"a2ahu -(1) 2$0#a2 %e0embal$a $;es2as$ #ec$lamu me$0#a2 la0$ %a"a 2ahu -(1&. N$la$ ROA 7a0 "$%eroleh meru%a#a has$l

%erh$2u0a laba bers$h "$ba0$ "e0a 2o2al a#2$;a.

,. Return on "quity

Tabel VI.1- Return on "quity



Tahun 2017 2018 2019

AT Rp472.042.884

Rp313.953.327

Rp322.853.387

T"ta%kuita'

Rp678.307.010

Rp678.307.010

Rp678.307.010

R* 0#696 0#463 0#476

Aal$s$s 6

Re2ur o E?u$27 3ROE4 meru%a#a $"$#a2or %e2$0 7a0 ser$0 "$0ua#a oleh

%erusahaa u2u# me0u#ur %rof$2ab$l$2as sebelum mela#u#a $;es2as$.Pa"a 2abel

"$a2as "a%a2 "$#e2ahu$ bah5a $la$ ROE me0alam$ %eurua se2$a% 2ahu7a 7a$2u

%a"a 2ahu -(1 sebesar (.*&*9 2ahu -(1) sebesar (.+*'9 "a 2ahu -(1& sebesar

(.+*. Dar$ has$l $la$ ROE 7a0 "$%eroleh ma#a me0$"$#as$#a bah5a %erforma

%erusahaa sema#$ meuru se2$a% 2ahu7a9 "a #eu2u0a $;es2as$ %em$l$#

re"ah. N$la$ ROE 7a0 "$%eroleh meru%a#a has$l %erh$2u0a laba bers$h "$ba0$

"e0a 2o2al e#u$2as.

*. Return on Invest#ent Tabel VI.1' Return on Invest#ent

Tahun 2017 2018 2019

AT Rp472.042.884

Rp313.953.327

Rp322.853.387

T"ta%

A'!t

Rp

1.202.448.059

Rp

1.491.325.650

Rp

1.787.156.607R* 0#393 0#211 0#181

Aal$s$s 6

Return on invest#ent 3ROI4 meru%a#a $"$#a2or u2u# "a%a2 me0u#ur #emam%ua

%erusahaa "e0a #eseluruha "aa 7a0 "$2aam#a "alam a#2$;a 7a0 "$0ua#a

u2u# o%eras$ %erusahaa u2u# me0has$l#a #eu2u0a. Pa"a 2abel "$a2as "a%a2

"$#e2ahu$ bah5a $la$ ROE me0alam$ %eurua se2$a% 2ahu7a 7a$2u %a"a 2ahu

-(1 sebesar (.'&'9 2ahu -(1) sebesar (.-119 "a 2ahu -(1& sebesar (.1)1. Dar$

has$l $la$ ROI 7a0 "$%eroleh ma#a hal $$ me0$"$#as$#a bah5a %erforma

%erusahaa "alam me0has$l#a %rof$2 sema#$ meuru "alam %e00uaa assets

7a0 a"a "$ %erusahaa. N$la$ ROI 7a0 "$%eroleh meru%a#a has$l %erh$2u0a EAIT

"$ba0$ 2o2al ase2 "$#al$#a 1((@.

VI.# Usu!n

Tabel VI.1+ Usula !2ra2e0$ Perusahaa

Me2o"e Ra2$o e$s Ra2$o Usula !2ra2e0$ Perusahaa



Ra2$o L$#u$"$2as

Current Ratio Pa"a current ratio 7a0 "$%eroleh su"ah

cu#u% ba$# #area me$0#a2 se2$a%

2ahu7a. >al $$ 8u0a me0$"$#as$#a

bah5a %erusahaa mam%u memba7ar

hu2a0 7a0 "$m$l$#$ "alam 8a0#a

%e"e#. A%ab$la %erusahaa $0$

me$0#a2#a %erforma %erusahaa "a%a2

"$la#u#a "e0a me$0#a2#a a#2$;a

lacar 7a0 "$la#u#a "e0a cara

me$0#a2#a sal"o #as a#h$r "a

%erse"$aa bara0 8a"$.

Quick Ratio Pa"a quick ratio 7a0 "$%eroleh su"ah

cu#u% ba$# #area me$0#a2 se2$a%

2ahu7a. >al $$ 8u0a me0$"$#as$#a

bah5a #emam%ua a#2$;a lacar "alam

meu2u%$ hu2a0 lacar. A%ab$la

%erusahaa $0$ me$0#a2#a %erforma

%erusahaa "e0a mea$##a %rof$2 7a0

"$"a%a2#a oleh %erusahaa.

Ra2$o A#2$;$2as

Inventory Turnover

3ITO4

Pa"a inventory turnover 3ITO4 7a0

"$%eroleh #ura0 ba$# "a ef$s$e #area

meuru se2$a% 2ahu7a. >al $$ 8u0a

me0$"$#as$#a bah5a #eu2u0a a#a

me$0#a2. A%ab$la %erusahaa $0$

mem%erba$#$ inventory turnover 3ITO4

"e0a cara me0h$2u0 #embal$ 8umlah

bara0 7a0 harus "$%ro"u#s$ a0ar "a%a2me0o%2$mal#a 8umlah bara0 7a0

"$%ro"u#s$ "a "a%a2 me0o%2$mal#a

s2ra2e0$ %emasara.

Ra2$o !ol;ab$l$2as Total ebit to Total

!sset Ratio 3TDTAR4

Pa"a total debit to total asset ratio

3TDTAR4 7a0 "$%eroleh su"ah cu#u%

ba$# #area meuru se2$a% 2ahu7a. >al

$$ 8u0a me0$"$#as$#a bah5a res$#o

%erusahaa 2$"a# "a%a2 memba7ar hu2a0



sema#$ #ec$l. A%ab$la %erusahaa $0$

me$0#a2#a %erforma %erusahaa "a%a2

"$la#u#a "e0a me$0#a2#a 2o2al

a#2$;a lacar.

Total ebit to "quity

Ratio 3TDER4

Pa"a total debit to equity 3TDER4 7a0

"$%eroleh su"ah cu#u% ba$# #area


me0$"$#as$#a bah5a #emam%ua

mo"al "alam memeuh$ #e5a8$ba7a.

A%ab$la %erusahaa $0$ me$0#a2#a

%erforma %erusahaa "a%a2 "$la#u#a

"e0a me$0#a2#a 2o2al mo"al.

Ti#e Interest "arned

3TIE4

Pa"a ti#e interest earned 3TIE4 7a0

"$%eroleh su"ah cu#u% ba$# #area

me$0#a2 se2$a% 2ahu7a. >al $$ 8u0a

me0$"$#as$#a bah5a #eu2u0a

%erusahaa a#a me$0#a2. A%ab$la

%erusahaa $0$ me$0#a2#a %erforma

%erusahaa "a%a2 "$la#u#a "e0a

me$0#a2#a E/IT.Ra2$o Re2ab$l$2as $ross %rofit &argin

3GPM4

Pa"a gross 'rofit #argin 3GPM4 7a0



me0$"$#as$#a bah5a %rese2ase laba

a2au E/IT sema#$ meuru se2$a%

2ahu7a. A%ab$la %erusahaa $0$

mem%erba$#$ gross 'rofit #argin 3GPM4

"$la#u#a "e0a cara me$0#a2#a laba

#o2or %erusahaa 7a$2u "e0a cara

me$0#a2#a %e"a%a2a.

'erating $rofit

&argin 3OPM4

Pa"a o'erating grofit #argin 3OPM4 7a0



me0$"$#as$#a bah5a %rese2ase laba

a2au E/IT sema#$ meuru se2$a%

2ahu7a. A%ab$la %erusahaa $0$

mem%erba$#$ o'erating grofit #argin

3OPM4 "$la#u#a "e0a cara



me0ef$s$e#a b$a7a o%eras$ 7a0

"$#eluar#a oleh %erusahaa.

et %rofit &argin

3NPM4

Pa"a net 'rofit #argin 3NPM4 7a0

"$%eroleh flu#2ua2$f. Prese2ase NPM

me0alam$ %eurua %a"a 2ahu -(1)

amu me$0#a2 %a"a 2ahu -(1& 7a0

me0$"$#as$#a %rese2ase laba

%erusahaa EAIT meuru %a"a 2ahu

-(1). >al $$ "a%a2 "$%erba$#$ "e0a cara

me0ef$s$e#a b$a7a re#ru2me "a

sele#s$ %a"a 2ahu -(1).

Return on !ssets

3ROA4

Pa"a return on assets 3ROA4 7a0

"$%eroleh flu#2ua2$f. Prese2ase ROA

me0alam$ %eurua %a"a 2ahu -(1)

amu me$0#a2 %a"a 2ahu -(1& 7a0

me0$"$#as$#a %rese2ase laba

%erusahaa #ura0 o%2$mal %a"a 2ahu

-(1). >al $$ "a%a2 "$%erba$#$ "e0a cara

me$0#a2#a #eu2u0a %a"a 2ahu

-(1). Return on "quity

3ROE4

Pa"a return on equity 3ROE4 7a0



me0$"$#as$#a bah5a #eu2u0a

$;es2as$ %em$l$# 7a0 re"ah . A%ab$la

%erusahaa $0$ mem%erba$#$ return on

equity 3ROE4 "$la#u#a "e0a cara

me0ura0$ b$a7a 7a0 me0hab$s#a

$la$ mo"al.

Return on Invest#ent

3ROI4

Pa"a return on invest#ent 3ROI4 7a0



me0$"$#as$#a bah5a "alam

me0has$l#a %rof$2 sema#$ meuru

"alam %e00uaa assets 7a0 a"a "$



%erusahaa. A%ab$la %erusahaa $0$

mem%erba$#$ return on invest#ent 3ROI4

"$la#u#a "e0a cara me0ef$s$e#a

besara b$a7a o%eras$ %erusahaa "alam

se2$a% %ro"u#7a.

Documents

Modul Vi Perencanaan Keuangan II