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Financial Distress Analysis by Using Altman Z-Score Methods: A Case Study of Selected Fertilizer Company in Indonesia Year 2016–2020

In: Proceedings of the 19th International Symposium on Management (INSYMA 2022)

Author

Listed:
  • Priyanto

    (Airlangga University)

Abstract

This study aims to analyze financial distress conditions in PT XYZ. This private company produces chemicals and fertilizers in Indonesia and sells them in Indonesia and globally. PT XYZ is chosen because it is Indonesia's biggest and most complete fertilizer industry. This study used secondary data taken from the business enterprise’s economic statements on the company’s official website from 2016 to 2020. The Altman Z-Score model for production non-public corporations is set as the method used. The study used many ratios to calculate financial distress, working capital ratio (ratio between working/operational capital and total/overall assets), retained earnings ratio (retained earnings divided by total assets), EBIT (ratio between earnings before interest and tax and total assets), and also ratio between the book value of the equity and total liabilities.

Suggested Citation

  • Priyanto, 2023. "Financial Distress Analysis by Using Altman Z-Score Methods: A Case Study of Selected Fertilizer Company in Indonesia Year 2016–2020," Advances in Economics, Business and Management Research, in: Werner Ria Murhadi & Dudi Anandya & Noviaty Kresna Darmasetiawan & Juliani Dyah Trisnawati & Putu An (ed.), Proceedings of the 19th International Symposium on Management (INSYMA 2022), pages 36-46, Springer.
    • Handle: RePEc:spr:advbcp:978-94-6463-008-4_6
    DOI: 10.2991/978-94-6463-008-4_6
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