Pertumbuhan Penjualan Tanpa Penguatan Margin: Analisis Terintegrasi Kinerja Keuangan PT Ayumida Berkah Jaya

Abstrak

ABSTRACT

This study evaluates the financial performance of PT Ayumida Berkah Jaya, a privately held food production and distribution company, during 2020-2022. A quantitative descriptive single-case design was applied to internal statements of financial position and income statements. Eight indicators representing liquidity, solvency, profitability, and activity were calculated using consistent formulas and interpreted through internal trend analysis and DuPont decomposition. Sales increased by 25.47% in 2022, while net income declined by 17.28%. Current and quick ratios fell to 4.53 and 1.96 times, indicating adequate nominal short-term coverage but weaker liquidity quality as cash decreased and receivables increased. Debt-to-asset and debt-to-equity ratios improved to 12.86% and 14.76%. Total asset turnover rose to 5.27 times, yet net profit margin declined to 1.17%, reducing return on assets and return on equity to 6.14% and 7.25%. The findings show that stronger asset utilization and solvency did not offset margin compression. The company should prioritize cost-of-goods control, credit monitoring, inventory discipline, and cash budgeting. The contribution is diagnostic and context-specific rather than statistically generalizable.

ABSTRAK

Penelitian ini mengevaluasi kinerja keuangan PT Ayumida Berkah Jaya, perusahaan privat produksi dan distribusi makanan, selama 2020-2022. Penelitian menggunakan desain studi kasus tunggal deskriptif kuantitatif dengan sumber data berupa laporan posisi keuangan dan laporan laba rugi internal. Delapan indikator yang mewakili likuiditas, solvabilitas, profitabilitas, dan aktivitas dihitung menggunakan formula yang konsisten, kemudian ditafsirkan melalui analisis tren internal dan dekomposisi DuPont. Pendapatan tahun 2022 meningkat 25,47%, tetapi laba bersih menurun 17,28%. Current ratio dan quick ratio turun menjadi 4,53 dan 1,96 kali; keduanya menunjukkan kapasitas penutupan kewajiban jangka pendek secara nominal, tetapi kualitas likuiditas melemah ketika kas menurun dan piutang meningkat. Debt-to-asset ratio dan debt-to-equity ratio membaik menjadi 12,86% dan 14,76%. Total asset turnover meningkat menjadi 5,27 kali, sedangkan margin laba bersih turun menjadi 1,17%, sehingga ROA dan ROE menurun menjadi 6,14% dan 7,25%. Temuan menunjukkan bahwa peningkatan produktivitas aset dan solvabilitas belum mampu mengimbangi tekanan margin. Perusahaan perlu memprioritaskan pengendalian harga pokok penjualan, pengawasan kredit, disiplin persediaan, dan anggaran kas. Kontribusi penelitian bersifat diagnostik dan kontekstual, bukan generalisasi statistik.