ANALISIS KINERJA KEUANGAN PT NIPPON INDOSARI CORPINDO TBK PERIODE 2024–2025 MENGGUNAKAN RASIO LIKUIDITAS DAN SOLVABILITAS

Abstract

This study aims to analyze the financial performance of PT Nippon Indosari Corpindo Tbk for the 2024–2025 period using liquidity and solvency ratios. This study employs a descriptive quantitative method using secondary data obtained from the company’s annual financial reports published through the Indonesia Stock Exchange (IDX). The analysis was conducted using liquidity ratios, which consist of the Current Ratio, Quick Ratio, and Cash Ratio, as well as solvency ratios, which consist of the Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Long-Term Debt to Equity Ratio (LTDtER), and Times Interest Earned (TIE). The results of the study indicate that the company’s liquidity levels declined in 2025 compared to 2024. The Current Ratio decreased from 171% to 140%, the Quick Ratio decreased from 145% to 116%, and the Cash Ratio decreased from 70.56% to 38.37%. Despite this decline, the company still possesses a sufficiently strong ability to meet its short-term obligations. In terms of solvency, the Debt to Asset Ratio increased from 38.39% to 42.19%, the Debt to Equity Ratio increased from 62.31% to 72.99%, and the Long-Term Debt to Equity Ratio increased from 35.85% to 38.52%. Meanwhile, the Times Interest Earned decreased from 34.15 times to 22.58 times. Overall, the financial condition of PT Nippon Indosari Corpindo Tbk during the 2024–2025 period remains relatively healthy as the company is able to meet both its short-term and long-term obligations. Despite this decline, the company still has a fairly strong ability to meet its short-term obligations. In terms of solvency, the Debt-to-Asset Ratio increased from 38.39% to 42.19%, the Debt-to-Equity Ratio increased from 62.31% to 72.99%, and the Long-Term Debt-to-Equity Ratio increased from 35.85% to 38.52%. Meanwhile, the Times Interest Earned decreased from 34.15 times to 22.58 times. Overall, the financial condition of PT Nippon Indosari Corpindo Tbk during the 2024–2025 period remains relatively healthy as the company is able to meet both its short-term and long-term obligations, despite a trend of declining liquidity and increased debt usage in 2025. Penelitian ini bertujuan untuk menganalisis kinerja keuangan PT Nippon Indosari Corpindo Tbk periode 2024–2025 menggunakan rasio likuiditas dan solvabilitas. Penelitian ini menggunakan metode kuantitatif deskriptif dengan data sekunder yang diperoleh dari laporan keuangan tahunan perusahaan yang dipublikasikan melalui Bursa Efek Indonesia (BEI). Analisis dilakukan menggunakan rasio likuiditas yang terdiri dari Current Ratio, Quick Ratio, dan Cash Ratio, serta rasio solvabilitas yang terdiri dari Debt to Asset Ratio (DAR), Debt to Equity Ratio (DER), Long Term Debt to Equity Ratio (LTDtER), dan Times Interest Earned (TIE). Hasil penelitian menunjukkan bahwa tingkat likuiditas perusahaan mengalami penurunan pada tahun 2025 dibandingkan tahun 2024. Current Ratio menurun dari 171% menjadi 140%, Quick Ratio menurun dari 145% menjadi 116%, dan Cash Ratio menurun dari 70,56% menjadi 38,37%. Meskipun mengalami penurunan, perusahaan masih memiliki kemampuan yang cukup baik dalam memenuhi kewajiban jangka pendeknya. Dari sisi solvabilitas, Debt to Asset Ratio meningkat dari 38,39% menjadi 42,19%, Debt to Equity Ratio meningkat dari 62,31% menjadi 72,99%, dan Long Term Debt to Equity Ratio meningkat dari 35,85% menjadi 38,52%. Sementara itu, Times Interest Earned menurun dari 34,15 kali menjadi 22,58 kali. Secara keseluruhan, kondisi keuangan PT Nippon Indosari Corpindo Tbk selama periode 2024–2025 masih tergolong sehat karena perusahaan mampu memenuhi kewajiban jangka pendek maupun jangka panjangnya, meskipun terdapat kecenderungan penurunan tingkat likuiditas dan peningkatan penggunaan utang pada tahun 2025.