Liquid Ratio Research Articles

Financial Performance Evaluation Using Profitability and Liquidity Ratio Analysis

A company's financial performance is an important indicator used to assess the financial health and operational efficiency of a business entity. In the context of PT Rig Tenders Indonesia Tbk, the consolidated financial statements as of March 31, 2024 showed an increase in current assets to IDR 330.44 billion from IDR 263.97 billion in the previous period. Although the company has recorded an increase in current assets and net profit, unstable global economic conditions can cause uncertainty in revenue and operating costs. This study uses a quantitative research design with a descriptive approach to evaluate the financial performance of PT Rig Tenders Indonesia Tbk through profitability and liquidity ratio analysis. The results of the study show that PT Rig Tenders Indonesia Tbk has good financial performance with high liquidity, significant profitability, and effective asset management. The company shows a strong ability to meet short-term obligations and generate profits from its assets and equity. A holistic and sustainable evaluation of financial performance is essential to maintain the stability and growth of the company in the future. The findings of this study provide important contributions both theoretically and practically in the field of financial management. Theoretically, this study enriches the literature on financial ratio analysis with a focus on the maritime industry. In practice, these findings offer solutions for companies in managing risk and improving operational efficiency through better asset management strategies and investment diversification. The limitation of this study lies in the use of financial data in one period that may not reflect long-term dynamics. For future research, it is recommended to examine financial data in a longer period and consider other external factors such as regulatory changes and global market conditions.

Examining the impact of filling ratio on thermosyphon performance in passive energy recovery processes with dual effects of evaporative cooling: An experimental study

AbstractThe thermosyphon heat exchanger contributes significantly to the improvement of energy conservation technology and has been used in multiple applications, raising the possibility of further studies to contribute to increasing the efficiency of heat pipes. This experimental study examines the different filling ratios of pure Acetone liquid inside a WHPHE integrated with the double‐effect of evaporative cooling to improve the energy‐saving technology. This work studies changing the filling ratio of pure acetone working fluid to investigate the effect of the filling ratio on heat exchanger performance in waste energy recovery technology. The heat exchanger was used with four rows and five tubes per row arranged in a staggered manner. The filling ratio of acetone inside the heat pipe was changed from 50% to 100%. The effect of the mass flow rate of air flowing in direct evaporative cooling on energy conservation technology was studied while the mass flow rate of air through indirect cooling remains constant in addition to the effect of ambient temperature. The results showed that the best filling percentage was between 80% at different temperatures, and the highest energy recovery percentage was when it was at the filling percentage of 80% in the presence of evaporative cooling.

Financial Performance Analysis in PT. Bayan Resources Tbk 2020-2022 Period

When investing capital, financial performance must be analyzed first by investors by carrying out financial analysis by calculating ratios. In this research, the ratios used include current ratio, quick ratio, debt to total assets, debt to equity, ROA, ROE, inventory turnover and total asset turnover. The aim of this research was to understand and analyze the financial performance of PT Bayan Resources Tbk in the 2020-2022 period based on liquidity, solvency, profitability and activity ratios. The analytical method used in this research is descriptive qualitative. The results of the research conducted state that PT Bayan Resources Tbk has the ability to cover its short- term liabilities by managing total current assets and capital owned, the company can also generate increased profits by managing assets and capital and the company is not yet able to manage total assets that can generate sales.

Optimizing the Extraction of Protein from Defatted Schizochytrium Cell Residues and Studying the Emulsification Characteristics of Protein

In this study, proteins were prepared from Schizochytrium pombe residue after oil extraction using isoelectric point precipitation, and their physicochemical and emulsifying properties were investigated. Our objective was to assess the suitability of these proteins for functional ingredient applications. Through a one-way experiment and optimization using response surface design, the effects of time, temperature, pH, and the material–liquid ratio of NaOH alkaline extraction were explored. The isoelectric point is verified by isoelectric point precipitation; the results revealed that crude protein from Schizochytrium (SCP) is minimally soluble at pH 4.2. Compared with whey protein (WP), it promotes better emulsion stability through the emulsification test. This study suggests that Schizochytrium oil-processing byproducts represent a promising source of protein, with potential applications as functional ingredients, offering implications for the usage of these byproducts in various industries.

Analisis Laporan Keuangan Untuk Mengatur Kinerja Keuangan Dengan Rasio Keuangan (Pada PT Unilever Indonesia Tbk Periode 2018-2021)

This study aims to analyze the this study aims to analyze the financial performance of PT Unilever Indonesia Tbk. by using financial ratio. The research method used is quantitative descriptive, the data source is secondary data. The data collection technique was carried out using a documentation technique in the form of PT Unilever Indonesia’s financial statement from 2018 to 2021, which was measured using financial ratio, consisting of: liquidity ratio, solvency ratio, profitability ratio, and activity ratio. The data analysis method in this study is a descriptive analysis method by collecting, processing, and analyzing existing data to provide an overview of the conditions under study. Based on the result of research and analysis that has been carried out, financial performance at PT Unilever Indonesia Tbk. is measured using (1) Liquidity ratio, consisting of: current ratio, quick ratio, cash ratio, cash turnover ratio, and net working capital stock ratio, it can be concluded as a whole that its financial performance is declared “Not Good”. (2) Solvency ratio, consisting of: the ratio of debt to assets and debt to equity can be concluded as a whole that its financial performance is declared “Not Good”. (3) Profitability ratio, consisting of: return on investment ratios, return on equity ratios, gross profit margins, and net profit margins, it can be concluded as a whole that the financial performance is declared “Good”. (4) Activity ratio, consisting of: total assets turnover ratio, and fixed assets turnover ratio, it can be concluded that the overall financial performance is stated to be “Good”.

MENGUJI PENGARUH FAKTOR-FAKTOR RATIO TERHADAP KINERJA KEUANGAN PERUSAHAAN DENGAN ANALISIS REGRESI LINEAR BERGANDA

This research aims to examine the effect of profitability ratios as measured by Return On Assets (ROA), liquidity ratios as measured by Current Ratio (CR), and solvency ratios as measured by Debt to Total Asset Ratio (DAR) on measured financial performance. with Total Assets Turnover (TATO). The population in this research is Hotel Sahid Jaya Tbk. The data used in this research are financial reports from 2017 to 2021. This research uses multiple linear regression analysis methods which are processed using SPSS version 25 application tools. The results of this research show that the profitability ratio has no effect on financial performance because the company has a good financial position. It is not good in terms of net profit, while the liquidity ratio also has no effect on financial performance, and the solvency ratio (DAR) has no effect on financial performance (TATO). The contribution of this research is the use of assets to obtain and increase profits as well as re-evaluating all current assets owned to pay long and short term debts, so that the company can increase maximum profits.

Experimental and numerical study on dynamic response of a photovoltaic support structural platform with a U-shaped tuned liquid column damper

A tuned liquid column damper (TLCD) is widely used in offshore structures as a passive energy dissipation device to reduce the harm of wind, wave, and current loads to the safety of offshore platforms. This investigation explores the dynamic response and interaction mechanism of a photovoltaic support structural platform (SSP) equipped with a TLCD by experimental and numerical analysis. The vibration mitigation performance of the TLCD under varying liquid depth ratios, external excitation frequencies, and amplitudes is systematically evaluated. The experiments focus on assessing the structural dynamic response and wall pressure to determine the vibration reduction efficiency of the TLCD for structures with fundamental frequencies more than 2 Hz. The experimental results indicate that the TLCD can reduce the structural response maximally near the natural frequency (2.52 Hz) of the structure, with vibration reduction effectiveness ranging from 42.0% to 85.1%. Additionally, one develops a two-way fluid-structure interaction (FSI) model to investigate further the impact of hydrodynamic pressure caused by sloshing inside the TLCD on the SSP motion response, which providing a more detailed explanation for the different phenomena observed in the experimental results.

Stock Valuation of PT. Panca Budi Idaman, Tbk. (PBID) based on Free Cash Flow to the Firm and on Relative Valuation

The stock valuation of PT Panca Budi Idaman, Tbk. (PBID), an Indonesian plastic packaging manufacturer, is evaluated using the absolute and relative valuation. The absolute valuation is based on Discounted Cash Flow (DCF) method. In relative valuation, PBID is compared to its peers, which in this study are IPOL, PDPP, and TRST. Indonesia’s significant economic growth and the vital role of the plastic industry are noting strong demand for plastic packaging despite environmental challenges and regulatory pressures. Financial performance from 2017 to 2023 is assessed through profitability, liquidity, and solvency ratios, demonstrating PBID’s efficient operations and robust financial health. Future cash flows are projected, discounted using PBID’s Weighted Average Cost of Capital (WACC), and the terminal value is calculated. The intrinsic value is estimated at IDR 3,987 per share, indicating undervaluation compared to the current price of IDR 1,325 per share. Relative valuation compares PBID to industry peers using EV/EBITDA, P/E, and P/B ratios, reinforcing the undervaluation finding. Investment recommendations suggest PBID’s stock as a buying opportunity due to its strong market position and favourable valuation metrics.

Preparation and Characterization of Bio-Asphalt Based on Sludge-Derived Heavy Oil

To achieve the efficient resource utilization of municipal sludge and promote the sustainability of pavement materials, this study employed liquefaction technology to process municipal sludge. The resulting liquefied-sludge-derived heavy oil was blended with 50# asphalt to prepare a bio-asphalt that can replace petroleum asphalt. Firstly, orthogonal experiments were conducted to analyze the effects of the solid–liquid ratio (dried sludge:anhydrous ethanol), liquefaction temperature, and reaction time on the yield of the sludge-derived heavy oil. Then, the basic characteristics of the sludge-derived heavy oil were studied using an elemental analyzer, gel permeation chromatography, thermal analysis, gas chromatography–mass spectrometry, and Fourier transform infrared spectroscopy, and the differences between the sludge-derived heavy oil and petroleum asphalt were compared. Finally, to determine the appropriate content range of sludge-derived heavy oil in bio-asphalt, a comprehensive evaluation of the three major indicators, aging resistance, storage stability, low-temperature performance, and high-temperature performance was carried out for the prepared bio-asphalts. The results indicated that the optimal preparation process for liquefied sludge oil involves a liquefaction temperature of 275 °C, a solid–liquid ratio of 1:15, and a reaction time of 1 h, resulting in an oil production rate of 22.36%. The sludge-derived heavy oil demonstrated good thermal stability, with its primary components being aliphatic compounds (carboxylic acids, ketones, aldehydes, alcohols, alkanes, esters, etc.), with esters being the most abundant. Furthermore, the sludge-derived heavy oil was highly compatible with 50# asphalt, but no chemical reaction occurred between them. When the sludge-derived heavy oil content ranged from 5% to 20%, bio-asphalt showed favorable aging resistance and storage stability. As the content of the sludge-derived heavy oil increased, its low-temperature performance improved, but there was a slight decrease in high-temperature performance. Additionally, correlation analysis highlighted that the influence of sludge-derived heavy oil content on the high-temperature performance of bio-asphalt was notably greater than on other properties. Therefore, the recommended dosage of sludge-derived heavy oil should be between 5% and 10%.

Pengaruh Rasio Keuangan Terhadap Nilai Perusahaan Farmasi di BEI

The current economic situation has created fierce competition among companies to increase their value and appear attractive to investors. This study aims to determine the impact of financial ratios (liquidity, profitability, and solvency) on the value of pharmaceutical companies listed on the IDX. Multiple linear regression analysis methods were used in this study. The results indicated that liquidity positively and significantly affects firm value. In contrast, profitability and solvency have a negative and insignificant impact on firm value. Simultaneously, liquidity, profitability, and solvency collectively significantly influence firm value. Public interest statements This study is valuable for understanding how financial ratios affect the value of pharmaceutical companies listed on the IDX. By analyzing liquidity, profitability, and solvency ratios, this study helps investors and managers make better-informed decisions. Investors can evaluate financial health and growth potential, while managers can pinpoint areas that require improvement. This research is anticipated to enhance the transparency and efficiency of the Indonesian capital market, particularly in the pharmaceutical sector.

(fortcoming) Analisis Kinerja Keuangan Lembaga Amil Zakat Nasional Rumah Zakat Periode 2017-2022

This study aims to evaluate the financial performance of Rumah Zakat from 2017-2022, using financial ratios established by BAZNAS in 2022. This study is quantitative with secondary data in the form of Rumah Zakat Annual Financial Report 2017-2022. The results of this study indicate that the activity ratio shows high effectiveness, the efficiency ratio shows quite good performance even though there are still challenges in operational costs, the amil fund's ratio shows good performance, and the liquidity ratio shows smooth performance. However, the growth ratio needs to show better performance, so an increase in the collection and distribution of ZIS is needed. In addition, the trend analysis shows an upward trend in the collection and distribution of ZIS funds in 2017-2020, but there was a decrease in 2021 and 2022, which was influenced by the COVID-19, so individuals' ability to pay zakat was limited.

Electroosmotic coupled with particle-assisted deep eutectic solvent flotation for the enrichment of eugenol from clove

Eugenol has many biological and pharmacological activities such as antioxidant, anticancer, anti-inflammatory, antibacterial and anesthetic.In view of its wide range of beneficial activities, it is crucial to establish a method for the separation and purification of active components from clove. In this study, an electroosmotic coupled with particle-assisted deep eutectic solvent flotation method was established for the enrichment of eugenol from clove. Ten deep eutectic solvent (DES) extraction systems based on menthol as the hydrogen bond acceptor (HBA) were screened, and butanol was determined as the hydrogen bond donor (HBD) to prepare the optimal DES as extractant for extracting eugenol. Under the optimum operating conditions including solid–liquid ratio of 1:30, flotation time of 50 min, nitrogen flow rate of 55 mL/min, salt content of 20 g, pH of the clove suspension of 5.2, applied voltage of 15 V, copper electrode at the bottom, the yield of eugenol was 45.89 ± 1.61 mg/g. Compared with other extraction methods, the extraction rate was greatly improved. The electroosmotic coupled with particle-assisted deep eutectic solvent flotation method provides a green and efficient enrichment strategy for natural product, which has broad application prospects.

ANALISIS RASIO KEUANGAN UNTUK MENGUKUR KINERJA KEUANGAN PADA YAYASAN BALI SARASWATI DI GIANYAR

Financial ratio analysis is an effort to find a picture of relationships and compare the number of accounts when describing financial reports. By using financial ratio, internal and external parties to an entity can easily obtain information about the entity's strengths and weaknesses from a financial perspective. The financial performance of the Yayasan Bali Saraswati cannot be said to be good because the profits it generates are still decreasing and increasing every year, so a financial ratio analysis calculation is needed which is one way to assess the financial performance of the Yayasan Bali Saraswati. By calculating existing financial ratio, it will be possible to know the financial performance conditions currently being experienced by the Yayasan Bali Saraswati. The formulation of the problem in this research is how the financial performance of the Yayasan Bali Saraswati in Gianyar for the 2018 - 2022 period is measured by financial ratio. The aim of the research is to determine the financial performance of the Yayasan Bali Saraswati in Gianyar for the 2018 - 2022 period as measured by financial ratio. Data were analyzed using 4 financial ratio, namely liquidity ratio, solvency ratio, activity ratio and profitability ratio. The results of the research show that the financial performance of the Yayasan Bali Saraswati seen from the liquidity ratio, solvency ratio and profitability ratio is good, while seen from the activity ratio in the indicator Working Capital Turn Over and Total Assets Turn Over are in poor condition.

Analysis of the Merger and Acquisition of PT GOTO (Gojek 0 Tokopedia) Tbk: Share Valuation and Firm Financial Performance

Mergers and acquisitions have become business practices to improve shareholder welfare. One of the newest phenomena in Indonesia is the merger of two large companies, namely Gojek, a transportation service provider, and Tokopedia, an e-commerce platform. This merger occured in 2021 with the official name PT GOTO Gojek – Tokopedia Tbk. When conducting an Initial Public Offering (IPO), the share price of PT GOTO Gojek – Tokopedia Tbk was set at Rp. 338 per share (CNBC, 2022). Many hopes were pinned on the share price, but the share price of PT GOTO Gojek – Tokopedia Tbk did not match expectations. In December 2023, based on the IDX website, the share price of PT GOTO Gojek – Tokopedia Tbk has dropped drastically to Rp. 95, experienced a decrease of Rp. 243 since IPO. This research shows whether the merger decision of the two companies has an effect on their intrinsic value as well as their liquidity ratio, activity ratio, solvability ratio and profitability ratios.

High-temperature liquid chromatography-isotope ratio mass spectrometry methodology for carbon isotope ratio determination of anabolic steroids in urine

BackgroundGas Chromatography Isotope Ratio Mass Spectrometry (GC-C-IRMS) has long been used in routine laboratories to determine the δ13C values of anabolic steroids in urine, differentiating between, e.g., endogenous and synthetic testosterone (T) in sports doping control. Until now, liquid chromatography (LC-IRMS) has not been used. The LC-IRMS setup doesn't allow organic solvents or modifiers in the mobile phase for δ13C determinations. Mid-to non-polar analytes such as steroids can be analysed in water heated to High Temperatures (HT, up to 200 °C) because at 200 °C has a similar polarity as 80/20 methanol/water at ambient temperature. In this work, we developed a method for steroids in urine, extending the application of the LC-IRMS to non-polar analytes in complex matrices. ResultAn HT-LC-IRMS method capable of determining the δ13C values of four steroids (i.e., testosterone (T), 5α-androstane-3α,17β-diol (ααβ), 5β-androstane-3α,17β-diol (βαβ) and pregnanetriol (PT)) in urine was developed and validated. Accuracy ranged from 0.23 ‰ (ααβ and βαβ) to 0.49 ‰ (T), and the detection limit was set at 10 ng mL−1 (T, ααβ+βαβ). The validation data and a comparison of authentic urine samples analysed with HT-LC-IRMS and GC-C-IRMS indicated a comparable performance between HT-LC-IRMS and GC-C-IRMS. SignificanceHT-LC-IRMS can be used to determine δ13C values of anabolic steroids, extending the applicability of both HT-LC and LC-IRMS to non-polar substances determined in a complex matrix in routine laboratory practice.

Financial Execution of Go Public Companies during the Covid-19 Pandemic

This study aimed at determining the differences in the financial execution of gopublic companies as long as the COVID-19 pandemic. The financial performance of the liquidity ratio, solvency ratio, activity ratio, and profitability ratio was used as a measuring tool. The population was Indonesian Go Public companies in 2019 and 2020, while, using the purposive sampling technique, the sample was Go Public Companies in trade, services, and investment sectors. Paired sample t-test with distributed data was used as the research method. The result of the analysis shows there are dissimilarities in liquidity ratios, solvency ratios, activity ratios, and profitability ratios in 2019 (before the Covid-19 pandemic) and 2020 (during the Covid-19 pandemic). Keywords: activity ratio, financial performance during the pandemic, liquidity ratio, profitability ratio, solvency ratio

Analisis Faktor Pertumbuhan Kredit Bank Komersil Di Indonesia

This research analyzes the influence of Non-Performing Loans, Loan to Deposit Ratio, Loan Loss Provision, Equity Asset Ratio, Liquidity Ratio, Gross Domestic Product, Inflation, Interest Rate, Bank Capital, and Bank Size on Loan Growth Rate in banking companies listed on the Indonesia Stock Exchange (BEI) from 2019 to 2023. The method used is regression multiple panels with secondary data obtained through purposive sampling, covering 205 financial reports from 41 companies. The results of the analysis using Eviews 12 show that Non-Performing Loans, Loan to Deposit Ratio, Loan Loss Provision, Equity Asset Ratio, Liquidity Ratio, Gross Domestic Product, Inflation, Interest Rate, Bank Capital, and Bank Size have a significant influence on Loan Growth Rate. This research provides important insights into the factors influencing loan growth in the Indonesian banking sector, as well as implications for risk management and banking policy.

Salt removal from coal flotation product filter cakes using counter-current and displacement washing

Water reuse is a common practice to alleviate water scarcity concerns and mitigate their environmental footprint in coal processing facilities. Nevertheless, water reuse leads to the accumulation of various organic and inorganic substances, including salt and residual reagents in the processing water, potentially leading to the retention of soluble impurities within the coal product. Residual impurities may result in a reduction in the quality of coal products. Salt and moisture retention has become a common issue on-site, but there lacks a proper solution currently. To resolve this industrial problem, investigations were carried out for the effects of washing on removing inorganic impurities from the cake during filtration. Filter cakes were prepared from flocculated metallurgical coal in process water. Two washing methods were trialled namely counter-current washing and displacement washing. Regarding washing efficiency, counter-current washing tended to produce cakes with higher specific resistance, which caused longer filtration time. Displacement washing, however, showed increased filtration time, though to a lesser extent. In addition, washing with different washing liquid ratios for multiple wash cycles showed that the filtration time, specific cake resistance, and medium resistance increased with the number of wash cycles. The analysis of the filtrate indicated that utilising a strategy of displacement washing with a washing ratio of 1:20 yielded the most effective removal of salt. The filter cakes were analysed using the μCT imaging technique to gain insights into the pore structure of the cake at a microscopic level. There was a significant change in the cake structure, where the pore profile was more evenly distributed and smaller when the cake was washed by displacement washing.

ANALYSIS OF LIQUIDITY RATIOS AGAINST PROFITABILITY RATIOS (ROA) AT PT. MAYORA TBK. LISTED ON THE INDONESIAN STOCK EXCHANGE

This study aims to determine the analysis of the liquidity ratio (current ratio, quick ratio, and cash ratio) to the profitability ratio (return on assets) at PT MAYORA TBK listed on the Indonesia Stock Exchange for the period 2019-2023. The analysis technique used is descriptive analysis with the ratio analysis method. In this study, the current ratio value of 315% is greater than the general standard for similar industries, which is only 200%, while the Quick Ratio performs well and is satisfactory in financial terms because its average of 248% has exceeded the industry standard of only 150%, the Cash Ratio has an average value of 81% higher than the general standard for similar industries, which is 50%, and ROA can be concluded to be in accordance with the standard. PT Mayora Tbk exceeds 5%, indicating the company's ability to generate profit on sales can be said to be good because the average ROA value in this period reached 13%; therefore, the company's performance is quite satisfactory and is considered stable in 2019-2023.

Evaluating financial risk management in corporation financial security systems

Systemic risks are relevant to most segments of financial and economic activity, which creates the threat of financial instability of enterprises. Financial security, in this case, implies the state of financial soundness; it is expressed through various parameters including the level of solvency, financial stability, business activity, and efficiency of management. These questions are specific to each indicator, and this paper aims to understand their relations and how changes in them can result in risks. It elaborates the risk analysis and assessment procedure that uses a set of common financial analysis tools and determines key financial coefficients. Liquidity ratios, solvency ratios, profitability ratios, and the risk exposure metrics are the key areas that the research is based on. Correlating the financial indicators from a rich dataset from Yahoo’s Stock market data, regression analysis is used to determine these relationships between these indicators and risk management factors. A positive relationship between liquidity ratios and profitability is detected points to the fact that, firms with high liquidity levels are more capable of attaining good financial health and returns. It establishes the need for the development of a credible risk management structure that would lower threats to fiscal and economic activities. In light of this, the research shows that the liquidity and solvency management lowers financial risk and improves return for companies. The regression analysis was conducted to ascertain the degree of predictability of each independent variable to the dependent variable and the findings revealed that approximately 94 percent of each independent variable is predictable of the dependent variable that able to establish as much as 5% of the total variability in profitability, with the PE ratios being an indication of this aspect, was attributed to stock prices, as a result, the firm must be keen on its financials. This paper explores the employability of the proposed methods and models to assess the risks with high accuracy and supports optimum decision making in regard with the needed security of the enterprises. By adopting these methodologies, the businesses can observe and estimate risks which exist in the future which would help them to avoid certain issues or dangers and also pave the way for the improvements of the financial stability of the businesses. On this note, the study establishes the fact that incorporating the notion of total risk management into the framework of analyzing business and making financial decisions is inevitable in maintaining corporate financial stability and realizing perpetual economic solidity. This research enriches the literature on financial risk management, as it outlines viable strategies for the protection of enterprise financial sustainability.