Comparative Analysis of the Financial Performance of PT Ultrajaya Milk Industry & Trading Company Tbk and PT Diamond Food Indonesia Tbk Period 2019-2023

Authors

  • Arti Mirza Aulia Fakultas Ekonomi dan Bisnis, Universitas 17 Agustus 1945 Surabaya
  • Uhti Noer Choliza Safitri Fakultas Ekonomi dan Bisnis, Universitas 17 Agustus 1945 Surabaya
  • Cholis Hidayati Fakultas Ekonomi dan Bisnis, Universitas 17 Agustus 1945 Surabaya

DOI:

https://doi.org/10.47134/aaem.v2i3.576

Keywords:

Financial Performance, Liquidity, Solvency, Profitability, Activity Ratio

Abstract

This study analyzes the financial performance of PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) and PT Diamond Food Indonesia Tbk (DMND) during the 2019-2023 period. The research uses a qualitative descriptive approach with the evaluation of financial ratios, such as liquidity (current ratio and quick ratio), solvency (debt to asset ratio and times interest earned), activity (inventory turnover and receivables), and profitability (return on assets and return on equity). Data is obtained from annual financial reports published through the Indonesia Stock Exchange and the company's official website. The results of the analysis show that ULTJ excels in profitability stability with an average profit margin of 0.17 and a consistent dividend distribution policy, reflected in the Dividend Yield of 0.154 and Dividend Payout Ratio of 0.7564. On the other hand, DMND is superior in operational efficiency and asset utilization with an average total asset turnover of 1.08 and fixed asset turnover of 2.97. In addition, DMND recorded a higher Return on Equity (ROE) of 1.27, indicating a better ability to generate profit from equity. However, DMND has not distributed dividends during the analysis period, reflecting a focus on reinvestment for business development. This study concludes that ULTJ is strong in profitability and return to shareholders, while DMND excels in asset management efficiency.

References

Benarivo, H. (2023). Analisis Kinerja Perusahaan Sebelum dan Saat Pandemi serta Pengaruhnya terhadap Nilai Analisis Kinerja Perusahaan Sebelum dan Saat Pandemi serta Pengaruhnya terhadap Nilai Perusahaan. Studi Akuntansi Dan Keuangan Indonesia.

Devi, S., Komala, F. S., Zahro, S. A., Daeli, A. R., Daeli, A. K., & Endarwati. (2023). ANALISIS KINERJA KEUANGAN PERUSAHAAN SUB SEKTOR MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PADA PERIODE 2020-2022. Journal Competency of Business, 7(1), 108–118.

Kasmir. (2019). Analisis Laporan Keuangan (Edisi Satu). PT. Grafindo Persada.

Kurniasari, W., & Warastuti, Y. (2015). THE RELATIONSHIP BETWEEN CSR AND PROFITABILITY TO FIRM VALUE IN SRI-KEHATI INDEX. International Journal of Economic Behavior, 5(1), 31–41.

Nova, W., Pratiwi, G., & Wahyono, . (2023). Pengaruh Pandemi Covid-19 Terhadap Kinerja Keuangan pada Perusahaan Sub Sektor Industri Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Tahun 2018-2021. JIMPS: Jurnal Ilmiah Mahasiswa Pendidikan Sejarah, 8(3), 1423–1437. https://doi.org/10.24815/jimps.v8i3.25195

Rahman, M. T. (2019). TESTING TRADE-OFF AND PECKING ORDER THEORIES OF CAPITAL STRUCTURE: EVIDENCE AND ARGUMENTS. International Journal of Economics and Financial Issues, 9(5), 63–70. https://doi.org/10.32479/ijefi.8514

Sayfri Harahap, S. (2011). Analisis Kritis atas Laporan Keuangan. Rajawali Pers.

Sutrisno. (2012). Manajemen Keuangan Teori, Konsep, dan Aplikasi. EKONISIA.

Utomo, L. P., & Hartanti, B. (2020). Determinan pengambilan keputusan hedging menggunakan instrumen derivatif valas. Management and Business Review, 4(1), 22–31. https://doi.org/10.21067/mbr.v4i1.4611

Downloads

Published

2025-01-10

How to Cite

Aulia, A. M., Safitri, U. N. C., & Hidayati, C. (2025). Comparative Analysis of the Financial Performance of PT Ultrajaya Milk Industry & Trading Company Tbk and PT Diamond Food Indonesia Tbk Period 2019-2023. Journal of Advances in Accounting, Economics, and Management, 2(3), 18. https://doi.org/10.47134/aaem.v2i3.576

Issue

Section

Articles

Similar Articles

1 2 > >> 

You may also start an advanced similarity search for this article.