ANALISIS DU PONT SYSTEM UNTUK MENGUKUR KINERJA KEUANGAN PT GUDANG GARAM TBK PERIODE 2021–2024
DOI:
https://doi.org/10.51878/cendekia.v6i4.15616Keywords:
Kinerja Keuangan, Du Pont System, Net Profit Margin, Return on Equity, PT Gudang Garam TbkAbstract
ABSTRACT
PT Gudang Garam Tbk’s financial performance changed during 2021–2024, particularly in its ability to generate profits and utilize assets effectively, requiring an analysis that can describe the relationship among performance indicators comprehensively. This study aims to analyze the financial performance of PT Gudang Garam Tbk during 2021–2024 using the Du Pont System. The study employed a quantitative descriptive approach using secondary data from the company’s financial statements and annual reports obtained from official sources. The analysis covered Net Profit Margin (NPM), Total Assets Turnover (TATO), Return on Investment (ROI), Equity Multiplier (EM), and Return on Equity (ROE). The results show that financial performance fluctuated, with a weakening trend toward the end of the period. NPM and TATO declined in 2024, reflected in decreases in ROI and ROE. EM remained relatively stable through 2023 before declining in 2024. The findings indicate that performance weakening was primarily reflected in profitability and asset utilization effectiveness. This study suggests strengthening profitability and asset productivity while maintaining appropriate funding management. These findings can support future periodic financial management evaluation.
ABSTRAK
Kinerja keuangan PT Gudang Garam Tbk menunjukkan perubahan selama periode 2021–2024, terutama pada kemampuan menghasilkan laba dan efektivitas pemanfaatan aset, sehingga diperlukan analisis yang dapat menggambarkan keterkaitan antarindikator kinerja secara terpadu. Penelitian ini bertujuan menganalisis kinerja keuangan PT Gudang Garam Tbk periode 2021–2024 menggunakan Du Pont System. Penelitian menggunakan pendekatan deskriptif kuantitatif dengan data sekunder berupa laporan keuangan dan laporan tahunan perusahaan yang diperoleh melalui sumber resmi perusahaan. Analisis dilakukan melalui Net Profit Margin (NPM), Total Assets Turnover (TATO), Return on Investment (ROI), Equity Multiplier (EM), dan Return on Equity (ROE). Hasil penelitian menunjukkan bahwa kinerja keuangan berfluktuasi dengan kecenderungan melemah pada akhir periode. NPM dan TATO menurun pada 2024, yang tercermin pada penurunan ROI dan ROE. EM relatif stabil hingga 2023 sebelum menurun pada 2024. Temuan menunjukkan bahwa pelemahan kinerja terutama tercermin pada profitabilitas dan efektivitas pemanfaatan aset. Penelitian ini mengindikasikan perlunya penguatan profitabilitas dan produktivitas aset secara berkelanjutan dengan tetap memperhatikan pengelolaan struktur pendanaan. Hasil ini dapat menjadi dasar evaluasi pengelolaan keuangan perusahaan pada periode mendatang secara berkala.
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