Analisis Kinerja Keuangan Pt. PLN (Persero) Indonesia Periode 2011-2015

Abstract

The purpose of the research is to analyze the financial performance and financial health of PT. PLN (Persero) Indonesia in 2011- 2015 based on the Decree of the Ministry of State-Owned Enterprises No: KEP-100/MBU/2002 on company’s health assessment on eight indicators: ROE, ROI, Current Ratio, Cash Ratio, Collection Period, Inventories, Total Assets Turn Over, and Total Ratio of Own Capital to Total Assets and Trend Analysis. The result shows that the financial performance of the liquidity ratio indicates that the company has not fully settled its current debt by using cash and guarantee the current debt with current assets. Profitability ratio shows the company's financial performance has not fully generate profit by using its own capital and company assets. Leverage ratio shows that the company is able to finance the assets with its own capital and at the ratio of activity indicates that the company has been optimal in using the receivables and inventory to generate revenue but the total rotation of assets not yet optimal used to generate income. Therefore, the health assessment on the financial aspects of PT. PLN (Persero) Indonesia in the period of 2011-2015is predicated less healthy. Tujuan penelitian yakni menganalisis kinerja keuangan dan tingkat kesehatan keuangan PT. PLN (persero) Indonesia tahun 2011-015 berdasarkan Keputusan Menteri BUMN No: KEP- 100/MBU/2002 tentang penilaian kesehatan dengan menggunakan delapan indikator yaitu ROE, ROI, Current Ratio, Cash Ratio, Collection Period, Perputaran Persediaan, Total Asset Turn Over, dan Rasio Total Modal Sendiri terhadap Total Aktiva dan Analisis Trend. Hasil penelitian menunjukkan kinerja keuangan dari rasio likuiditas menunjukkan belum sepenuhnya perusahaan melunasi utang lancarnya dengan menggunakan kas dan menjamin utang lancar dengan aset lancar yang dimiliki.Rasio profitabilitas menunjukkan kinerja keuangan perusahaan belum sepenuhnya menghasilkan laba dengan mengunakan modal sendiri dan aktiva perusahaan. Pada rasio leverage menunjukkan bahwa perusahaan mampu membiayai aset dengan modal sendiri dan pada rasio aktivitas menunjukkan bahwa perusahaan sudah optimal dalam menggunakan piutang dan persediaan untuk menghasilkan pendapatan namun pada perputaran total aset belum optimal digunakan untuk menghasilkan pendapatan. Oleh karena itu, untuk penilaian kesehatan pada aspek keuangan PT. PLN (persero) Indonesia periode 2011-2015 mendapatkan predikat kurang sehat.

Understanding the Financial Performance of PT PLN (Persero): A Narrative on State-Owned Enterprise (SOE) with a Mandate of Electricity in Indonesia

“…Concerning the mentioned considerations, the research discusses the financial performance of PT PLN (Persero). Previously, several researchers, such as Lafera (2020), Utari (2020), Rahmawati (2019), Sari (2018), andSari, Husnah, andFattah (2016), have conducted quantitative-descriptive research mainly through ratio analysis to explain the financial performance of PT PLN (Persero). Moreover, the results are varied.…”

“…Moreover, the results are varied. In the research by using the period time before 2018 (2013−2017, 2010−2017, 2011−2015), the researchers have found that the financial performance of PT PLN (Persero) is considered poor (Sari, Husnah, & Fattah, 2016;Sari, 2018;Rahmawati, 2019). Meanwhile, under the time frame of 2018 and above (2017−2018, 2016−2018, 2018−2022), the researchers have suggested that the financial performance of PT PLN (Persero) improves (Lafera, 2020;Utari, 2020;Rahmawati, 2019).…”