RATIO ANALYSIS

LIQUIDITY ANALYSIS

PT Hotel Sahid Jaya Internasional PT Pembangunan Jaya Ancol

Tbk Tbk

Current Assets Current Assets

= Current Liabilities = Current Liabilities

179,502,666,845 613,108,865,472
= 155,097,047,895 = 519,711,023,026
Current
Ratio
= 1.16 = 1.18

It means every Rp1 current liability is It means every Rp1current liability

guaranteed by Rp1.16 current assets. is guaranteed by Rp1.18 current
assets.

Cash+Securities+AccountReceivable Cash+Securities+AccountReceivable
= =
Current Liabilities Current Liabilities

13,609,519,914 + 36,330,713,801 + 309,941,964,897+142,285,392,854

= 22,910,403,710 + 4,392,902,533
= +3,580,772,785
Quick 155,097,047,895 519,711,023,026
Ratio
= 0.5 = 2.03

It means every Rp1 current liability is It means every Rp1 current liability
guaranteed by Rp0.5 quick assets. is guaranteed by Rp2.03 quick
assets.

Cash Cash
= Current Liabilities = Current liabilities

13,609,519,914 309,941,964,897
Cash = 155,097,047,895 = 519,711,023,026
Ratio
= 0.09 = 0,6

It means every Rp1 current liability is It means every Rp1 current liability
guaranteed by Rp0.09 cash. is guaranteed by Rp0.6 cash.

 Current ratio measures the company’s ability to pay the current liabilities by using the
current assets.The higher current ratio value indicates the higher ability to pay because
they have a bigger amount of current assets which can guarantee the short-term debts.
From the calculation, current ratio of PT Hotel Sahid Jaya International Tbk is 1.16
and PT Pembangunan Jaya Ancol is 1.18. These ones are not too different, but both of
the companies have high risk because the current ratio is under 1.5 (the standard value
 of current ratio). But, still can be said that PT Pembangunan Jaya Ancol is better than
PT Hotel Sahid Jaya International based on its ability.
 Quick ratio shows the ability to pay short-term debts by using highly liquid assets such
as cash and cash equivalent, securities, and accounts receivable. From the calculation,
PT Hotel Sahid Jaya International has the lower ratio than PT Pembangunan Jaya
Ancol, it means PT Hotel Sahid Jaya International will be more risky than PT
Pembangunan Jaya Ancol.
 Cash ratio indicates the company’s ability to pay the current debts owed by using cash,
the most liquid asset. The 0.6 cash ratio of PT Pembangunan Jaya Ancol is better if
compared with and PT Hotel Sahid Jaya International for only has 0.09.
SOLVABILITY ANALYSIS

PT Sahid Jaya Internasional PT Pembangunan Jaya Ancol

Tbk Tbk

Total Liabilities Total Liabilities

= =
Total Assets Total Assets

511,159,738,800 1,341,639,349,713
Debt = 1,449,036,770,639 = 3,130,177,111,064
Ratio
= 0.35 = 0,43

It means that 35% of total assets is It means that 43% of total assets is
contributed by creditor. contributed by creditor.

Total Liabilities Total Liabilities

= =
Total Equity Total Equity

511,159,738,800 1,341,639,349,713
Debt to =937,877,031,655 =1,788,537,761,351
Equity
Ratio
= 0.5 = 0.75
It means that every Rp1 funding from It means that every Rp1 funding
equity, there’s only Rp0.5 funding from equity, there’s only Rp0.75
from creditor. funding from creditor.

 Debt ratio measures the extent to which the borrowed funds support the company's
assets. The better condition is when the ratio is small, because it shows the more
ability to pay the debts. It can be concluded that PT Hotel Sahid Jaya International is
better, shown from the lower debt ration. So, they are more able to pay debts rather
than PT Pembangunan Jaya Ancol.
 Debt to equity ratio shows how much the portion of creditors contribution compared
with company’s equity. Both of two companies have the low ratio which is good for
them. But overall, PT Hotel Sahid Jaya still be the better one, because the DER is also
lower than PT Pembangunan Jaya Ancol.
PROFITABILITY ANALYSIS

Operating Ratio or Turn Over Ratio

PT Sahid Jaya Internasional PT Pembangunan Jaya Ancol

Tbk Tbk

Net sales Net sales

= Average total assets = Average total assets

155,601,761,190 1,131,489,537,123
Asset turn = 1,443,394,671,203 = 3,020,541,211,259
over
= 0.1 = 0.4

In one year, asset is used 0.1 times to In one year, asset is used 0.4 times
produce sales to produce sales

Net sales Net sales

= Average total receivables = Average total receivables

155,601,761,190 1,131,489,537,123
= =
Receivable 63,975,782,844 148,242,153,582
turn over
= 2.43 = 7.63

In one year, receivable is used 2.43 In one year, receivable is used 7.63
times in sales times in sales

Net sales Net sales

= Average total inventories = Average total inventories

155,601,761,190 1,131,489,537,123
= 100,907,227,699 =
Inventory 7,373,220,276.5

turn over
= 1.54 = 153.5

In one year, inventory is used 1.54 In one year, inventory is used 153.5
times in sales times in sales

 Asset turn over measures how efficiently an organization is utilizing its assets. The
higher ratio is regarded as the better condition. Therefore, PT Pembangunan Jaya
Ancol is better than PT Hotel Sahid Jaya International.
 Account receivable turnover is the number of times per year that a business collects its
average accounts receivable. The higher ratio shows the better condition. In this
 calculation, PT Pembangunan Jaya Ancol is better than PT Hotel Sahid Jaya
International.
 Inventory turn over refers to the number of times the inventory is sold and replaced
during the accounting period. It reflects the efficiency of inventory management. The
higher the ratio, the more efficient is the management of inventories. It can be
concluded that PT Pembangunan Jaya Ancol is better than PT Hotel Sahid Jaya
International.

Profitability Compared to Sales

PT Sahid Jaya Internasional PT Pembangunan Jaya

Tbk Ancol Tbk

Gross Profit Gross Profit

= =
Net Sales Net Sales

121,255,081,204 540,165,258,569
Gross = 155,601,761,190 = 1,131,489,537,123
profit
margin
= 0.77 = 77% = 0.48 = 48%

Every Rp 100 sales, there are Rp77 gross Every Rp 100 sales, there are
profit Rp48 gross profit

Operation Income Operation Income

= =
Net Sales Net Sales

Operating = 2,257,518,097 378,599,770,870

= 1,131,489,537,123
155,601,761,190
profit
margin
= 0.014 = 1.4% = 0.33 = 33%

Every Rp 100 sales, there are Rp1.4 Every Rp 100 sales, there are
operating profit Rp33 operating profit

Net Income Net Income

= =
Net Sales Net Sales

Net profit 5,466,805,338 289,408,079,066

margin = 155,601,761,190 = 1,131,489,537,123

= 0.035 = 3.5% = 0,26 = 26%

Every Rp 100 sales, there are Rp3.5 net Every Rp 100 sales, there are
profit Rp26 net profit
 Gross profit margin ratio measures the relationship between gross profit and sales. It is
a ratio that shows how much margin that allows the company to cover the company's
expenses. From the calculation, PT Hotel Sahid Jaya International has the bigger
amount of gross profit rather than PT Pembangunan Jaya Ancol.
 Operating profit margin indicates the company profit after deducting the cost of the
product and support costs of sales. From Rp100 sales, PT Pembangunan Jaya Ancol
can obtain Rp33 operating income, while PT Hotel Sahid Jaya International can only
get Rp1.4. It shows that PT Pembangunan Jaya Ancol is better than PT Hotel Sahid
Jaya International.
 Net profit margin ratio shows how much net profit from the sales. The higher ratio
indicates that the company is more profitable. Therefore, PT Pembangunan Jaya Ancol
is better than PT Hotel Sahid Jaya International because from Rp100 sales, PT Hotel
Sahid Jaya International has Rp3.5 net profit only, but PT Pembangunan Jaya Ancol
can reach Rp26 net profit.
Profitability Compared to Asset or Equity

PT Sahid Jaya Internasional PT Pembangunan Jaya Ancol

Tbk Tbk

Net Income Net Income

= Total Assets = Total Assets

289,408,079,066
Return on = 5,466,805,338 =3,130,177,111,064
1,449,036,770,639
Assets
= 0.004 = 0.4% = 0.092 = 9.2%

The company earned 0.4% of every The company earned 9.2% of every
rupiah asset utilization. rupiah asset utilization.

Net Income Net Income

= Total Equity = Total Equity

289,408,079,066
Return on = 5,466,805,338 = 1,788,537,761,351
937,877,031,655
Equity
= 0.006 = 0.6% = 0.162 = 16.2%
The shareholders obtain a refund at The shareholders obtain a refund at
0.6% of every one rupiah investment in 16.2% of every one rupiah
the company. investment in the company.

 Return on assets is a ratio that measures the profitability of the assets of a firm. It is better
for the company to get the higher ratio. The calculation above shows that PT
Pembangunan Jaya Ancol is better than PT Hotel Sahid Jaya International.
 Return on equity shows the return of a shareholder 's investment in the company. PT
Pembangunan Jaya Ancol is better if compared with PT Hotel Sahid Jaya International
because of the higher ratio of return on equity.