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Analisis Rasio Laporan Keuangan Perusahaan

Analisa rasio keuangan yang biasa digunakan adalah:


1. Rasio Likuiditas
Rasio untuk mengukur kemampuan perusahaan untuk memenuhi
kemampuan finansialnya dalam jangka pendek.
Ada beberapa jenis rasio likuiditas antara lain :
a. Current Ratio, rasio untuk mengukur kemampuan perusahaan
dalam membayar kewajiban finansial jangka pendek dengan
mengunakan aktiva lancar.
Rumus menghitung Current Ratio:
Current Ratio = Aktiva Lancar / Hutang Lancar X 100%
b. Cash Ratio, rasio untuk mengukur kemampuan perusahaan dalam
membayar kewajiban finansial jangka pendek dengan mengunakan kas
yang tersedia dan berikut surat berharga atau efek jangka pendek.
Rumus menghitung Cash Ratio:
Cash Ratio = Kas + Efek / Hutang Lancar X 100%
c. Quick Ratio atau Acid Test Ratio, rasio untuk mengukur
kemampuan perusahaan dalam membayar kewajiban finansial jangka
pendek dengan mengunakan aktiva lancar yang lebih likuid (Liquid
Assets).
Rumus menghitung Quick Ratio:
Quick Ratio = Kas + Efek + Piutang / Hutang Lancar X 100%
Catatan : Nilai ideal dari ketiga analisa rasio likuiditas ini ini
adalah minimum sebesar 150%, semakin besar adalah semakin
baik dan perusahaan dalam kondisi sehat.

2. Rasio Profitabilitas atau Rentabilitas


Rasio untuk mengukur seberapa besar kemampuan perusahaan
memperoleh laba dalam hubungannya dengan nilai penjualan, aktiva,
dan modal sendiri.
Ada beberapa jenis rasio profitabilitas antara lain :

a. Gross Profit Margin, rasio untuk mengukur kemampuan


perusahaan dalam mendapatkan laba kotor dari penjualan.
Rumus menghitung Gross Profit Margin:
Gross Profit Margin = Penjualan Netto - HPP / Penjualan Netto
X 100%
b. Operating Income Ratio, rasio untuk mengukur kemampuan
perusahaan dalam mendapatkan laba operasi sebelum bunga dan
pajak dari penjualan.
Rumus menghitung Operating Income Ratio:
Operating Income Ratio = Penjualan Netto - HPP Biaya
Administrasi & Umum (EBIT) / Penjualan Netto X 100%
c. Net Profit Margin, rasio untuk mengukur kemampuan perusahaan
dalam mendapatkan laba bersih dari penjualan.
Rumus menghitung Net Profit Margin:
Net Profit Margin = Laba Bersih Setelah Pajak (EAT) / Penjualan
Netto X 100%
d. Earning Power of Total Investment, rasio untuk mengukur
kemampuan perusahaan dalam mengelola modal yang dimiliki yang
diinvestasikan dalam keseluruhan aktiva untuk menghasilkan
keuntungan bagi investor dan pemegang saham.
Rumus menghitung Earning Power of Total Investment:
Earning Power of Total Investment = EBIT / Jumlah Aktiva X
100%
e. Rate of Return Investment (ROI) atau Net Earning Power
Ratio, rasio untuk mengukur kemampuan modal yang diinvestasikan
dalam keseluruhan aktiva untuk menghasilkan pendapatan bersih.
Rumus menghitung Rate of Return Investment (ROI):
Rate of Return Investment (ROI) = EAT / Jumlah Aktiva X 100%
f. Return on Equity (ROE), rasio untuk mengukur kemampuan equity
untuk menghasilkan pendapatan bersih.
Rumus menghitung Return on Equity (ROE):
Return on Equity (ROE) = EAT / Jumlah Equity X 100%

g. Rate of Return on Net Worth atau Rate of Return for the


Owners, rasio untuk mengukur kemampuan modal sendiri
diinvestasikan dalam menghasilkan pendapatan bagi pemegang
saham.
Rumus menghitung Rate of Return on Net Worth:
Rate of Return on Net Worth = EAT / Jumlah Modal Sendiri X
100%
Catatan : Semakin tinggi nilai persentase Rasio Profitabilitas
ini adalah adalah semakin baik, sebaiknya Anda bisa
membandingkannya dengan nilai rata-rata dari industri sejenis
di pasar.
3. Rasio Solvabilitas atau Leverage Ratio
Rasio untuk mengukur seberapa besar kemampuan perusahaan
memenuhi semua kewajiban finansial jangka panjang.
Ada beberapa jenis rasio Solvabilitas antara lain :
a. Total Debt to Assets Ratio, rasio untuk mengukur kemampuan
perusahaan dalam menjamin hutang-hutangnya dengan sejumlah
aktiva yang dimilikinya.
Rumus menghitung Total Debt to Assets Ratio:
Total Debt to Assets Ratio = Total Hutang / Total Aktiva X 100%
b. Total Debt to Equity Ratio, rasio untuk mengukur seberapa besar
perusahaan dibiayai oleh pihak kreditur dibandingkan dengan equity.
Rumus menghitung Total Debt to Equity Ratio:
Total Debt to Assets Ratio = Total Hutang / Modal Sendiri X
100%
Catatan : Semakin tinggi nilai persentase Rasio Solvabilitas ini
adalah semakin buruk kemampuan perusahaan untuk
membayar kewajiban jangka panjangnya, maksimal nilainya
adalah 200%.
4. Rasio Aktifitas atau Activity Ratio
Rasio untuk mengukur seberapa efektif perusahaan dalam
memanfaatkan sumber daya yang dimilikinya.

Ada beberapa jenis rasio Solvabilitas antara lain :


a. Total Assets Turn Over, rasio untuk mengukur tingkat perputaran
total aktiva terhadap penjualan.
Rumus menghitung Total Assets Turn Over Ratio:
Total Assets Turn Over Ratio = Penjualan / Total Aktiva X 100%
b. Working Capital Turn Over, rasio untuk mengukur tingkat
perputaran modal kerja bersih (Aktiva Lancar-Hutang Lancar) terhadap
penjualan selama suatu periode siklus kas dari perusahaan.
Rumus menghitung Working Capital Turn Over Ratio:
Working Capital Turn Over Ratio = Penjualan / Modal Kerja
Bersih X 100%
c. Fixed Assets Turn Over, rasio untuk mengukur perbandingan
antara aktiva tetap yang dimiliki terhadap penjualan.
Rasio ini berguna untuk mengevaluasi seberapa besar tingkat
kemampuan perusahaan dalam memanfaatkan aktivatetap yang
dimiliki secara efisien dalam rangka meningkatkan pendapatan.
Rumus menghitung Fixed Assets Turn Over Ratio:
Fixed Assets Turn Over Ratio = Penjualan / Aktiva Tetap X
100%
d. Inventory Turn Over, rasio untuk mengukur tingkat efisiensi
pengelolaan perputaran persediaan yang dimiliki terhadap penjualan.
Semakin tinggi rasio ini akan semakin baik dan menunjukkan
pengelolaan persediaan yang efisien.
Rumus menghitung Inventory Turn Over Ratio:
Inventory Turn Over Ratio = Penjualan / Persediaan X 100%
e. Average Collection Period Ratio, rasio untuk mengukur berapa
lama waktu yang dibutuhkan oleh perusahaan dalam menerima
seluruh tagihan dari konsumen.
Rumus menghitung Average Collection Period Ratio:
Average Collection Period Ratio = Piutang X 365 / Penjualan X
100%

f. Receivable Turn Over, rasio untuk mengukur tingkat perputaran


piutang dengan membagi nilai penjualan kredit terhadap piutang ratarata.
Semakin tinggi rasio ini akan semakin baik dan menunjukan modal
kerja yang ditanamkan dalam piutang rendah.
Rumus menghitung Receivable Turn Over Ratio:
Receivable Turn Over Ratio = Penjualan / Piutang Rata-Rata X
100%

1. Liquidity Ratio
Ratio to measure a company's ability to meet its financial capability in
the short term.

There are several types of liquidity ratios, among others:

a. Current Ratio, the ratio to measure a company's ability to pay


short-term financial liabilities by using current assets.

The formula to calculate current ratio:


C urrent Ratio = Current Assets / Current Debt X 100%

b. Cash Ratio, ratio to measure a company's ability to pay short-term


financial liabilities by using available cash and the following securities
or securities short term.

The formula to calculate the Cash Ratio:


C ash Ratio = Cash + Effects / Debt Current X 100%

c. Quick Ratio or Acid Test Ratio, ratio to measure a company's


ability to pay short-term financial obligations by using more liquid
current assets (Liquid Assets).

The formula to calculate Quick Ratio:


Quick Ratio = Cash + Securities + Accounts Receivable /
Payable Current X 100%

Note: The value of the third base this analysis liquidity ratio is
a minimum of 150%, the bigger is better and the company in a
healthy condition.

2. Profitability Ratios or Profitability


Ratio to measure how much the company's ability to obtain profit in
relation to sales, assets, and equity.

There are several types of profitability ratios, among others:

a. Gross Profit Margin ratio measures the company's ability to


obtain a gross profit from sales.

The formula to calculate Gross Profit Margin:


Gross Profit Margin = Net Sales - COGS / Net Sales x 100%

b. Operating Income Ratio, the ratio to measure a company's ability


to obtain operating profit before interest and tax from the sale.

The formula to calculate Operating Income Ratio:

Operating Income Ratio = Net Sales - COGS - Cost of


Administration and General (EBIT) / Net Sales x 100%

c. Net Profit Margin ratio measures the company's ability to obtain


net income from sales.

The formula to calculate Net Profit Margin:


Net Profit Margin = Net Profit After Tax (EAT) / Net Sales x
100%

d. Earning Power of Total Investment ratio to measure a company's


ability to manage our capital invested in total assets to generate profits
for investors and shareholders.

The formula to calculate Earning Power of Total Investment:


Earning Power of Total Investment = EBIT / Total Assets X 100%

e. Rate of Return on Investment (ROI) or Net Earning Power


Ratio,the ratio to measure the ability of the capital invested in total
assets to generate net income.

The formula to calculate Rate of Return on Investment (ROI):


Rate of Return on Investment (ROI) = EAT / Total Assets X 100%

f. Return on Equity (ROE), the ratio of equity to measure the ability


to generate net income.

The formula to calculate Return on Equity (ROE):


Return on Equity (ROE) = EAT / Total Equity X 100%

g. Rate of Return on Net Worth or Rate of Return for the


Owners,the ratio to measure the ability of their own capital invested in
generating income for shareholders.

The formula to calculate Rate of Return on Net Worth:


Rate of Return on Net Worth = EAT / Total Equity X 100%

Note: The higher the percentage values are Profitability Ratios


are getting better, you should be able to compare it with the
average value of similar industries in the market.

3. The Solvency Ratio or Leverage Ratio


Ratio to measure how adaptable the company meets all the long-term
financial obligations.

There are several types of Solvency ratios include:

a. Total Debt to Assets Ratio, the ratio to measure a company's


ability to guarantee its debts with a number of its assets.

The formula to calculate Total Debt to Assets Ratio:


Total Debt to Assets Ratio = Total Debt / Total Assets X 100%

b. Total Debt to Equity Ratio, the ratio to measure how big the
company is financed by the creditors compared to equity.

The formula to calculate Total Debt to Equity Ratio:


Total Debt to Assets Ratio = Total Debt / Equity X 100%

Note: The higher the percentage value Solvency Ratio This is


the worse the company's ability to pay long-term liabilities, the
maximum value is 200%.

4. Activity Ratio or Activity Ratio


Ratio to measure how effective the company in utilizing its resources.

There are several types of Solvency ratios include:

a. Total Assets Turn Over ratio to measure the rotation rate of the
total assets to sales.

The formula to calculate Total Assets Turn Over Ratio:


Total Assets Turn Over Ratio = Sales / Total Assets X 100%

b. Working Capital Turn Over ratio to measure the level of net


working capital turnover (Current Assets-Current Debt) on sales during
the period from the company's cash cycle.

The formula to calculate Working Capital Turn Over Ratio:


Working Capital Turn Over Ratio = Sales / Net Working Capital
X 100%

c. Fixed Assets Turn Over ratio to measure the ratio between fixed
assets held for sale.

This ratio is useful to evaluate how big the company's ability to utilize
owned aktivatetap efficiently in order to increase revenue.

The formula to calculate Fixed Assets Turn Over Ratio:

Fixed Assets Turn Over Ratio = Sales / Assets X 100%

d. Inventory Turn Over ratio to measure the efficiency of the


management of inventory turnover as a percentage of sales.

The higher this ratio, the better, and demonstrate efficient inventory
management.

The formula to calculate Inventory Turn Over Ratio:


Inventory Turn Over Ratio = Sales / Inventory X 100%

e. Average Collection Period Ratio, the ratio to measure how long it


takes the company to accept the whole bill of consumers.

The formula to calculate Average Collection Period Ratio:


Average Collection Period Ratio = X 365 Receivable / Sales x
100%

f. Receivable Turn Over ratio to measure the level of accounts


receivable turnover by dividing the value of credit sales on average
accounts receivable.

The higher this ratio, the better and show the working capital invested
in lower receivables.

The formula to calculate Receivable Turn Over Ratio:


Receivable Turn Over Ratio = Sales / Accounts Receivable
Average X 100%