Analisis Financial Distress pada Perusahaan sub Sektor Otomotif dan Komponen yang Terdaftar di BEI Periode 2021-2024

Abstract

This research aims to analyze the potential for financial distress in automotive and component companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. The issue addressed is the increasing risk of financial distress due to economic instability, which impacts the financial health of companies. To identify companies at risk of financial distress, three predictive models are used, namely the Altman Z-Score, Zmijewski, and Grover models. The research method applied is descriptive statistics analysis using secondary data from financial statements. The research sample consists of six automotive companies that meet the predetermined criteria. The results of the study show that there are differences in the outcomes among the three models, where the Altman Z- Score model identifies two companies experiencing financial distress, the Zmijewski model identifies one company experiencing financial distress, and the Grover model identify one company as experiencing financial distress. These differing results highlight the importance of using multiple models to gain a more accurate assessment. This study is expected to serve as a reference for investors, management, and related parties in making informed financial and investment decisions.

Keywords: Financial Distress, Altman Z-Score, Zmijewski, Grover.