THE COMPARISON OF FINANCIAL PERFORMANCE USING DUPONT SYSTEM ANALYSIS IN PT KALBE FARMA TBK AND PT KIMIA FARMA TBK PERIOD 2011-2016
Abstract: Indonesia is a part
of Association of South East Asia Nations (ASEAN) which means it has become
open market that resulted the competition became fiercer and a company must be
able to efficiently and effectively managing their asset. In Indonesia, there
are some instability that happens on periods 2011 – 2016 like president
election, politics, and cabinet changes that could affect Indonesian Stock
Exchange. This research aim to analyze
the financial performance PT Kalbe Farma Tbk and PT Kimia Farma Tbk period 2011
– 2016 using DuPont System and compare
those financial performance of both company. This research is classified as
quantitative and used purposive sampling. The data were gathered from annual
reports from both companies. Based on the result of the study, from the ROE
perspective, PT Kalbe Farma Tbk is better from PT Kimia Farma Tbk. The
researcher recommends that PT Kalbe Farma Tbk and PT Kimia Farma Tbk need to
utilize their asset more, since from TAT both are decline each year and do a
cost reduction for the raw materials.
Keywords: financial
performance, return on equity, return on asset, dupont system analysis, ratio
analysis
Penulis: Pascal . Kaharmen,
Frederik G. Worang, Maria . Tielung
Kode Jurnal: jpmanajemendd171006
