Analisis Prediksi Kebangkrutan Perusahaan Properti Yang Terdaftar di BEI Dengan Model Altman Z-Score

Rosemmia J. Sumolang, Joane V. Mangindaan, Dantje Keles


This study aims to predict the bankruptcy of property companies listed on the Indonesia Stock Exchange in the 2015-2019 period using the Altman Z-Score model where there are 5 ratios that are important variables in this research. This type of research is qualitative research with a descriptive study approach using secondary data or data obtained indirectly from the internet. While the method of analysis is data analysis that is quantitative in nature by using data in the form of processed numbers. The data used in this study are the company's financial statements published on the Indonesia Stock Exchange website The sampling technique used purposive sampling in order to obtain 10 companies that were used as research samples. Bankruptcy that occurs in a company is a condition where the company is no longer able to pay off its obligations, this condition will not occur if the financial statements can be analyzed carefully using a bankruptcy prediction tool. In this study, the Altman Z-Score model is a predictive tool used to analyze the company's financial statements from 10 property companies. Based on the results of research on property and real estate sector companies, it shows that out of 10 (ten) companies there is 1 (one) company that has varied results, while 9 (nine) companies have the same prediction in 2015-2019 using the Altman Z-Score Model.

Full Text:



Brealey, Richard A., Stewart C. Myers dan Alan J. Marcus, 2008.Dasar-dasar Manajemen Keuangan Perusahaan, Jilid 2, Edisi Kelima, Erlangga, Jakarta.

E. Altman. 1983. Financial Ratios, Diskriminant Analysis and the Prediction of

Corporate Bankruptcy. Journal of Accounting.

Altman, Edward I. (1968). Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy. The Journal of Finance.

Altman, E. I. 2000. Predicting financial distress of companies : Revisiting the Z Score and Zeta Models. Update from E. Altman, Financial Ratios, Discriminant Analysis and the Prediction of Corporate Bankruptcy, Journal of Banking & Finance, 1.

Rudianto, 2013. Akuntansi Manajemen Informasi Untuk Pengambilan Keputusan Strategis, Erlangga, Jakarta.

Weston, J. F., & Copeland, T. E. (1992). Manajemen Keuangan.jakarta: Erlangga

Darsono dan Ashari. 2005. Pedoman Praktis Memahami Laporan Keuangan. Jakarta : Salemba Empat


  • There are currently no refbacks.