Lampiran 1. Time Table Penelitian
No
Kegiatan
2014 - 2015
November Desember
Januari
Februari
Maret
April
Mei
Juni
1
Penyusunan dan Pengajuan
proposal
2
Bimbingan proposal
3
Kolokium
4
Bimbingan tesis
5
Seminar hasil
Lampiran 2. Proses Pengambilan Sampel
No Kode Nama Perusahaan Kriteria Perusahaan
Sampel
1 2 3
1 KDSI Kedawung Setia Industrial Tbk √ √ √ Sampel 1
2 KICI PT Kedaung Indah Can Tbk √ √ √ Sampel 2
3 LMPI PT Langgeng Makmur Industry Tbk √ √ √ Sampel 3
4 MBTO PT Martina Berto Tbk - - - -
5 MRAT PT Mustika Ratu Tbk √ √ - -
6 TCID PT Mandom Indonesia Tbk √ √ - -
7 UNVR PT Unilever Indonesia Tbk √ √ - -
8 PROD Sara Lee Body Care Indonesia Tbk - - - -
9 DVLA PT Darya Varia Laboratoria Tbk √ √ - -
10 INAF PT Indofarma (Persero) Tbk √ √ √ Sampel 4
11 KAEF PT Kimia Farma (Persero) Tbk √ √ - -
12 KLBF PT Kalbe Farma Tbk √ √ - -
13 MERK PT Merck Tbk √ √ - -
14 PYFA PT Pyridam Farma Tbk √ √ √ Sampel 5
15 SCPI PT Schering Plough Indonesia Tbk √ √ √ Sampel 6
16 SIDO PT Industri Jamu & Farmasi Sido Muncul Tbk - - - -
17 SQBB PT Taisho Pharmaceutical Indonesia Tbk √ √ - -
18 TSPC PT Tempo Scan Pasific Tbk √ √ - -
19 GGRM Gudang Garam Tbk √ √ - -
20 HMSP Handjaya Mandala Sampoerna Tbk √ √ - -
21 RMBA Bentoel International Investama Tbk √ √ √ Sampel 7
22 WIIM Wismilak Inti Makmur Tbk - - - -
23 ADES PT Akasha Wira International Tbk √ √ √ Sampel 8
24 AISA PT Tiga Pilar Sejahtera Food Tbk √ √ √ Sampel 9
25 ALTO PT Tri Banyan Tirta Tbk - - - -
26 CEKA PT Cahaya Kalbar Tbk √ √ - -
27 DAVO PT Davomas Abadi Tbk √ √ √ Sampel 10
28 DLTA PT Delta Djakarta Tbk √ √ - -
29 ICBP PT Indofood CBP Sukses Makmur Tbk - - - -
30 INDF PT Indofood Sukses Makmur Tbk √ √ √ Sampel 11
31 MLBI PT Multi Bintang Indonesia Tbk √ √ - -
32 MYOR PT Mayora Indah Tbk √ √ - -
33 PSDN PT Prashida Aneka Niaga Tbk √ √ √ Sampel 12
34 ROTI PT Nippon Indosari Corporindo Tbk - - - -
35 SKBM PT Sekar Bumi Tbk - - - -
37 STTP PT Siantar Top Tbk √ √ √ Sampel 14
38 ULTJ PT Ultrajaya Milk Industry and Trading Company Tbk √ √ √ Sampel 15
39 AQUA Aqua Golden Mississippi - - - -
40 PTSN Sat Nusa Persada Tbk √ √ √ Sampel 16
41 IKBI Sumi Indo Kabel Tbk √ √ - -
42 JECC Jembo Cable Company Tbk √ √ √ Sampel 17
43 KBLI KMI Wire and Cable Tbk √ √ √ Sampel 18
44 KBLM Kabelindo Murni Tbk √ √ √ Sampel 19
45 SCCO Supreme Cable Manufacturing and Commerce Tbk √ √ √ Sampel 20
46 VOKS Voksel Electric Tbk √ √ √ Sampel 21
47 BATA Sepatu Bata Tbk √ √ - -
48 BIMA Primarindo Asia Infrastructure Tbk √ √ √ Sampel 22
49 SIMM Surya Intrindo Makmur Tbk - - - -
50 ADMG Polychem Indonesia Tbk √ √ √ Sampel 23
51 ARGO Argo Pantes Tbk √ √ √ Sampel 24
52 CNTX Century Textile Industry Tbk √ √ √ Sampel 25
53 ERTX Eratex Djaya Tbk √ √ √ Sampel 26
54 ESTI Ever Shine Tex Tbk √ √ √ Sampel 27
55 HDTX Pan asia Indo Resources Tbk √ √ √ Sampel 28
56 INDR Indo Rama Synthetic Tbk √ √ √ Sampel 29
57 MYTX Apac Citra Centertex Tbk √ √ √ Sampel 30
58 PBRX Pan Brothers Tbk √ √ √ Sampel 31
59 POLY Asia Pasific Fibers Tbk √ √ √ Sampel 32
60 RICY Ricky Putra Globalindo Tbk √ √ √ Sampel 33
61 SRIL Sri Rejeki Isman Tbk - - - -
62 SSTM Sunson Textile Manufacturer Tbk √ √ √ Sampel 34
63 STAR Star Petrochem Tbk - - - -
64 TFCO Tifico Fiber Indonesia Tbk √ √ √ Sampel 35
65 TRIS Trisula International Tbk - - - -
66 UNIT Nusantara Inti Corpora Tbk √ √ √ Sampel 36
67 UNTX Unitex Tbk √ √ √ Sampel 37
68 PAFI Panasia Filamen Inti Tbk - - - -
69 ASII Astra International Tbk √ √ - -
70 AUTO Astra Otoparts Tbk √ √ - -
71 BRAM Indo Kordsa Tbk √ √ - -
72 GDYR Goodyear Indonesia Tbk √ √ √ Sampel 38
73 GJTL Gajah Tunggal Tbk √ √ √ Sampel 39
74 IMAS Indomobil Sukses International Tbk √ √ √ Sampel 40
76 LPIN Multi Prima Sejahtera Tbk √ √ √ Sampel 42
77 MASA Multistrada Arah Sarana Tbk √ √ √ Sampel 43
78 NIPS Nipress Tbk √ √ √ Sampel 44
79 PRAS Prima alloy steel Universal Tbk √ √ √ Sampel 45
80 SMSM Selamat Sempurna Tbk √ √ - -
81 ALDO Alkindo Naratama Tbk - - - -
82 FASW Fajar Surya Wisesa Tbk √ √ √ Sampel 46
83 INKP Indah Kiat Pulp & paper Tbk √ √ √ Sampel 47
84 INRU Toba Pulp Lestari Tbk √ √ √ Sampel 48
85 KBRI Kertas Basuki Rachmat Indonesia Tbk √ √ √ Sampel 49
86 SPMA Suparma Tbk √ √ √ Sampel 50
87 TKIM Pabrik Kertas Tjiwi Kimia Tbk √ √ √ Sampel 51
88 SAIP Surabaya Agung Industri pulp dan kertas Tbk - - - -
89 SULI Sumalindo Lestari Jaya Tbk √ √ √ Sampel 52
90 TIRT Tirta Mahakam Resources Tbk √ √ √ Sampel 53
91 CPIN Charoen Pokphand Indonesia Tbk √ √ - -
92 JPFA Japfa Comfeed Indonesia Tbk √ √ √ Sampel 54
93 MAIN Malindo Feedmill Tbk √ √ - -
94 SIPD Siearad Produce Tbk √ √ √ Sampel 55
95 MBAI PT. Multibreeder Adirama Indonesia Tbk - - - -
96 AKKU Alam Karya Unggul Tbk √ √ √ Sampel 56
97 AKPI Argha Karya Prima Industry Tbk √ - √ -
98 APLI Asiaplast Industries Tbk √ √ √ Sampel 57
99 BRNA Berlina Tbk √ √ √ Sampel 58
100 FPNI Titan Kimia Nusantara Tbk √ √ √ Sampel 59
101 IGAR Champion Pasific Indonesia Tbk √ √ - -
102 IPOL Indopoly Swakarsa Industry Tbk - - - -
103 SIAP Sekawan Intipratama Tbk √ √ √ Sampel 60
104 SIMA Siwani Makmur Tbk √ √ √ Sampel 61
105 TALF Tunas Alfin Tbk - - - -
106 TRST Trias Sentosa Tbk √ √ √ Sampel 62
107 YPAS Yana Prima Hasta Persada Tbk √ √ - -
108 DYNA Dynaplast Tbk - - - -
109 BRPT Barito Pasific Tbk √ √ √ Sampel 63
110 BUDI Budi Acid Jaya Tbk √ √ √ Sampel 64
111 DPNS Duta Pertiwi Nusantara √ √ - -
112 EKAD Ekadharma International Tbk √ √ √ Sampel 65
113 ETWA Eterindo Wahanatama Tbk √ √ √ Sampel 66
115 SOBI Sorini Agro Asia Corporindo Tbk √ √ - -
116 SRSN Indo Acitama Tbk √ √ √ Sampel 68
117 TPIA Chandra Asri Petrochemical √ √ - -
118 UNIC Unggul Indah Cahaya Tbk √ √ √ Sampel 69
119 ALKA Alakasa Industrindo Tbk √ √ - -
120 ALMI Alumindo Light Metal Industry Tbk √ √ √ Sampel 70
121 BAJA Sarana Central Bajatama Tbk - - - -
122 BTON Beton Jaya Manunggal Tbk √ √ - -
123 CTBN Citra Turbindo Tbk √ √ √ Sampel 71
124 GDST Gunawan Dianjaya Steel Tbk √ √ √ Sampel 72
125 INAI Indal Aluminium Industry Tbk √ √ √ Sampel 73
126 ITMA Itamaraya Tbk √ - √ -
127 JKSW Jakarta Kyoei Steel Work LTD Tbk √ √ √ Sampel 74
128 JPRS Jaya Pari Steel Tbk √ √ √ Sampel 75
129 KRAS Krakatau Steel Tbk - - - -
130 LION Lion Metal Works Tbk √ √ - -
131 LMSH Lionmesh Prima Tbk √ √ √ Sampel 76
132 MYRX Hanson International Tbk √ √ √ Sampel 77
133 NIKL Pelat Timah Nusantara Tbk √ √ - -
134 PICO Pelangi Indah Canindo Tbk √ √ √ Sampel 78
135 TBMS Tembaga Mulia Semanan Tbk √ √ - -
136 AMFG Asahimas Flat Glass Tbk √ √ √ Sampel 79
137 ARNA Arwana Citra Mulia Tbk √ √ √ Sampel 80
138 IKAI Inti Keramik Alam Asri Industri Tbk √ √ √ Sampel 81
139 KIAS Keramika Indonesia Assosiasi Tbk √ √ √ Sampel 82
140 MLIA Mulia Industrindo Tbk √ √ √ Sampel 83
141 TOTO Surya Toto Indonesia Tbk √ √ √ Sampel 84
142 INTP Indocement Tunggal Prakasa Tbk √ √ - -
143 SMCB Holcim Indonesia Tbk √ √ - -
144 SMGR Semen Gresik Tbk √ √ - -
Lampiran 3. Tabel Z-Score untuk kategori perusahaan financial distress - non financial distress
No Kode Nama Perusahaan
Z-Score Kategori
2009 2010 2011 2012 2013 FD NON FD ≤ 2,90 > 2,90
1 KDSI Kedawung Setia Industrial Tbk 2,13 2,51 2,53 3,20 2,19 √
2 KICI PT Kedaung Indah Can Tbk 1,44 1,98 1,80 1,98 2,40 √
3 LMPI PT Langgeng Makmur Industry Tbk 1,51 1,30 1,07 0,99 0,94 √
4 MRAT PT Mustika Ratu Tbk 3,53 4,53 3,55 3,48 2,97 √
5 TCID PT Mandom Indonesia Tbk 8,81 8,98 8,81 8,52 6,17 √
6 UNVR PT Unilever Indonesia Tbk 13,98 15,58 12,89 12,40 13,25 √
7 DVLA PT Darya Varia Laboratoria Tbk 3,70 4,88 5,08 5,82 5,96 √
8 INAF PT Indofarma (Persero) Tbk 1,95 1,87 1,83 2,22 1,26 √
9 KAEF PT Kimia Farma (Persero) Tbk 3,03 3,51 4,45 5,05 4,39 √
10 KLBF PT Kalbe Farma Tbk 6,35 14,31 11,34 14,26 11,75 √
11 MERK PT Merck Tbk 13,72 16,69 18,07 12,79 13,41 √
12 PYFA PT Pyridam Farma Tbk 2,79 3,24 3,02 2,76 1,95 √
13 SCPI PT Schering Plough Indonesia Tbk 1,98 1,22 1,11 0,89 0,83 √
14 SQBB PT Taisho Pharmaceutical Indonesia
Tbk 4,75 3,89 3,97 3,91 4,00 √
15 TSPC PT Tempo Scan Pasific Tbk 4,40 5,93 6,76 8,35 6,56 √
16 GGRM Gudang Garam Tbk 4,57 6,12 5,88 5,48 3,77 √
17 HMSP Handjaya Mandala Sampoerna Tbk 6,79 9,05 13,08 13,28 13,69 √
18 RMBA Bentoel International Investama Tbk 2,63 3,55 2,68 1,92 1,18 √
19 ADES PT Akasha Wira International Tbk 0,17 4,32 1,42 3,81 3,87 √
20 AISA PT Tiga Pilar Sejahtera Food Tbk 0,81 1,11 1,18 1,82 1,99 √
21 CEKA PT Cahaya Kalbar Tbk 3,75 1,57 2,72 1,85 3,35 √
22 DAVO PT Davomas Abadi Tbk 1,79 1,33 0,74 (3,83) 1,45 √
23 DLTA PT Delta Djakarta Tbk 6,05 10,68 10,13 16,28 13,70 √
24 INDF PT Indofood Sukses Makmur Tbk 1,94 2,46 2,32 2,37 1,80 √
25 MLBI PT Multi Bintang Indonesia Tbk 4,73 7,16 8,20 10,98 18,55 √
26 MYOR PT Mayora Indah Tbk 3,45 4,20 3,37 3,50 4,02 √
28 SKLT PT Sekar Laut Tbk 2,43 2,49 2,49 2,46 2,63 √
29 STTP PT Siantar Top Tbk 2,89 3,01 4,27 2,41 2,91 √
30 ULTJ PT Ultrajaya Milk Industry and
Trading Company Tbk 2,90 3,83 3,14 4,46 9,21 √
31 PTSN Sat Nusa Persada Tbk 2,25 2,83 2,95 2,93 3,11 √
32 IKBI Sumi Indo Kabel Tbk 5,47 4,21 4,18 4,73 3,36 √
33 JECC Jembo Cable Company Tbk 1,64 1,72 2,42 2,32 1,51 √
34 KBLI KMI Wire and Cable Tbk 1,61 2,47 2,74 3,86 3,14 √
35 KBLM Kabelindo Murni Tbk 1,28 1,72 1,61 1,73 1,97 √
36 SCCO Supreme Cable Manufacturing and
Commerce Tbk 1,99 2,67 3,14 3,74 3,17 √
37 VOKS Voksel Electric Tbk 1,90 1,57 2,04 2,40 1,73 √
38 BATA Sepatu Bata Tbk 4,54 5,10 4,43 4,39 2,30 √
39 BIMA Primarindo Asia Infrastructure Tbk 1,17 1,57 (0,39) 0,37 (0,42) √
40 ADMG Polychem Indonesia Tbk 0,71 0,95 1,63 1,31 1,36 √
41 ARGO Argo Pantes Tbk 0,02 0,26 (0,47) 1,10 0,09 √
42 CNTX Century Textile Industry Tbk (0,11) 0,26 1,20 0,16 0,26 √
43 ERTX Eratex Djaya Tbk 0,13 (1,37) 1,24 1,23 1,05 √
44 ESTI Ever Shine Tex Tbk 1,47 1,45 1,85 1,51 1,23 √
45 HDTX Pan asia Indo Resources Tbk 0,93 0,83 1,21 1,32 0,21 √
46 INDR Indo Rama Synthetic Tbk 1,17 1,66 1,54 1,38 1,27 √
47 MYTX Apac Citra Centertex Tbk 0,29 0,08 (2,27) (2,07) (0,47) √
48 PBRX Pan Brothers Tbk 2,33 2,48 2,62 2,31 2,51 √
49 POLY Asia Pasific Fibers Tbk (2,87) (3,64) (4,08) 3,89 (5,54) √
50 RICY Ricky Putra Globalindo Tbk 1,29 1,44 1,54 1,48 0,75 √
51 SSTM Sunson Textile Manufacturer Tbk 1,01 1,10 0,77 0,93 0,85 √
52 TFCO Tifico Fiber Indonesia Tbk (0,22) 1,92 2,56 2,63 2,01 √
53 UNIT Nusantara Inti Corpora Tbk 0,61 0,54 0,68 0,37 0,28 √
54 UNTX Unitex Tbk (0,19) (1,43) (1,16) 1,17 (0,93) √
55 ASII Astra International Tbk 3,59 3,85 3,57 2,06 1,79 √
56 AUTO Astra Otoparts Tbk 3,94 5,59 4,62 3,62 4,06 √
57 BRAM Indo Kordsa Tbk 3,30 3,94 3,78 2,00 1,58 √
59 GJTL Gajah Tunggal Tbk 1,65 2,08 2,19 2,14 1,48 √
60 IMAS Indomobil Sukses International Tbk 2,84 3,60 3,91 2,83 2,46 √
61 INDS Indospring Tbk 1,96 1,98 2,69 2,70 2,04 √
62 LPIN Multi Prima Sejahtera Tbk 1,08 1,65 1,52 2,93 1,81 √
63 MASA Multistrada Arah Sarana Tbk 1,54 1,58 1,06 1,38 1,20 √
64 NIPS Nipress Tbk 1,12 1,63 1,89 1,97 1,62 √
65 PRAS Prima alloy steel Universal Tbk 0,50 0,92 0,71 0,85 0,64 √
66 SMSM Selamat Sempurna Tbk 3,66 3,86 4,30 4,84 5,80 √
67 FASW Fajar Surya Wisesa Tbk 2,07 2,20 2,54 1,35 1,32 √
68 INKP Indah Kiat Pulp & Paper Tbk 0,34 0,59 0,51 0,43 0,68 √
69 INRU Toba Pulp Lestari Tbk (1,40) (1,02) (0,72) (0,80) (0,91) √
70 KBRI Kertas Basuki Rachmat Indonesia
Tbk 0,44 (2,30) (0,29) 3,68 (0,79) √
71 SPMA Suparma Tbk 1,14 1,34 1,16 1,29 0,98 √
72 TKIM Pabrik Kertas Tjiwi Kimia Tbk 0,90 1,01 0,97 0,93 0,85 √
73 SULI Sumalindo Lestari Jaya Tbk (0,40) (0,45) (1,52) (1,43) (1,42) √
74 TIRT Tirta Mahakam Resources Tbk 1,48 1,25 1,14 0,93 0,10 √
75 CPIN Charoen Pokphand Indonesia Tbk 5,91 10,74 9,52 9,43 7,15 √
76 JPFA Japfa Comfeed Indonesia Tbk 1,59 3,92 3,36 3,35 2,64 √
77 MAIN Malindo Feedmill Tbk 3,13 4,00 3,79 4,40 4,36 √
78 SIPD Siearad Produce Tbk 2,72 2,46 1,84 1,51 1,41 √
79 AKKU Alam Karya Unggul Tbk 0,21 0,45 0,86 1,48 0,83 √
80 APLI Asiaplast Industries Tbk 1,78 1,96 1,69 1,74 1,67 √
81 BRNA Berlina Tbk 1,68 1,92 1,85 2,08 1,07 √
82 FPNI Titan Kimia Nusantara Tbk 1,77 1,00 1,47 1,60 1,71 √
83 IGAR Champion Pasific Indonesia Tbk 4,02 4,88 6,27 5,51 4,56 √
84 SIAP Sekawan Intipratama Tbk 1,71 1,92 2,02 1,77 1,02 √
85 SIMA Siwani Makmur Tbk (1,29) (1,56) (1,69) (1,36) (0,67) √
86 TRST Trias Sentosa Tbk 1,86 1,96 2,29 1,91 1,16 √
87 YPAS Yana Prima Hasta Persada Tbk 4,44 5,19 4,82 2,66 1,35 √
88 BRPT Barito Pasific Tbk 1,45 1,27 1,39 1,03 1,17 √
90 DPNS Duta Pertiwi Nusantara 3,75 2,66 3,77 3,73 4,36 √
91 EKAD Ekadharma International Tbk 2,39 2,97 3,29 3,84 3,41 √
92 ETWA Eterindo Wahanatama Tbk 1,37 1,67 1,92 1,42 1,22 √
93 INCI Intan Wijaya International Tbk 2,90 4,08 1,93 2,34 3,06 √
94 SOBI Sorini Agro Asia Corporindo Tbk 3,53 3,22 2,55 2,12 3,81 √
95 SRSN Indo Acitama Tbk 2,10 2,36 2,85 2,38 2,68 √
96 TPIA Chandra Asri Petrochemical 3,73 3,82 2,19 2,02 1,90 √
97 UNIC Unggul Indah Cahaya Tbk 2,01 2,13 2,35 2,61 2,48 √
98 ALKA Alakasa Industrindo Tbk 6,23 5,72 3,69 6,17 4,74 √
99 ALMI Alumindo Light Metal Industry Tbk 1,50 2,45 2,42 2,08 1,29 √
100 BTON Beton Jaya Manunggal Tbk 7,39 4,18 3,73 4,31 3,30 √
101 CTBN Citra Turbindo Tbk 2,86 2,01 3,76 3,02 2,91 √
102 GDST Gunawan Dianjaya Steel Tbk 1,41 3,54 4,71 2,81 2,81 √
103 INAI Indal Aluminium Industry Tbk 1,14 1,75 1,43 1,55 1,12 √
104 JKSW Jakarta Kyoei Steel Work LTD Tbk (0,49) (0,41) (0,64) (1,11) (1,04) √
105 JPRS Jaya Pari Steel Tbk 2,66 3,77 4,21 4,29 7,64 √
106 LION Lion Metal Works Tbk 3,39 4,23 4,23 6,40 5,50 √
107 LMSH Lionmesh Prima Tbk 2,80 3,83 3,81 5,19 4,31 √
108 MYRX Hanson International Tbk (1,18) (4,53) (0,20) 0,09 (0,09) √
109 NIKL Pelat Timah Nusantara Tbk 4,36 3,32 2,14 1,54 1,68 √
110 PICO Pelangi Indah Canindo Tbk 1,37 1,31 1,66 1,61 1,72 √
111 TBMS Tembaga Mulia Semanan Tbk 3,07 3,57 3,57 3,42 3,46 √
112 AMFG Asahimas Flat Glass Tbk 2,57 4,40 3,56 4,52 3,82 √
113 ARNA Arwana Citra Mulia Tbk 1,66 2,12 2,80 6,18 9,56 √
114 IKAI Inti Keramik Alam Asri Industri Tbk 0,85 0,20 0,08 0,01 0,07 √
115 KIAS Keramika Indonesia Assosiasi Tbk (0,51) (0,47) 0,45 7,18 5,14 √
116 MLIA Mulia Industrindo Tbk 0,11 0,59 0,34 0,39 0,20 √
117 TOTO Surya Toto Indonesia Tbk 2,76 4,24 4,16 2,65 4,52 √
118 INTP Indocement Tunggal Prakasa Tbk 10,51 13,32 13,34 12,95 10,95 √
119 SMCB Holcim Indonesia Tbk 3,36 3,09 3,31 3,89 2,20 √
Lampiran 4. Tabel Z-Score untuk kategori perusahaan financial distress yang gagal turnaround - berhasil turnaround
No Kode Nama Perusahaan
Z-Score Kategori
2009 2010 2011 2012 2013 Gagal TA
Berhasil TA
1 ADES PT Akasha Wira International Tbk 0,17 4,32 1,42 3,81 3,87 √
2 ULTJ PT Ultrajaya Milk Industry and Trading
Company Tbk 2,93 3,83 3,14 4,46 9,21 √
3 KBLI KMI Wire and Cable Tbk 1,61 2,47 2,74 3,86 3,14 √
4 SCCO Supreme Cable Manufacturing and
Commerce Tbk 1,99 2,67 3,14 3,74 3,17 √
5 EKAD Ekadharma International Tbk 2,39 2,97 3,29 3,84 3,41 √
6 JPRS Jaya Pari Steel Tbk 2,66 3,77 4,21 4,29 7,64 √
7 LMSH Lionmesh Prima Tbk 2,80 3,83 3,81 5,19 4,31 √
8 AMFG Asahimas Flat Glass Tbk 2,57 4,40 3,56 4,52 3,82 √
9 ARNA Arwana Citra Mulia Tbk 1,66 2,12 2,80 6,18 9,56 √
10 KIAS Keramika Indonesia Assosiasi Tbk (0,51) (0,47) 0,45 7,18 5,14 √
11 KDSI Kedawung Setia Industrial Tbk 2,13 2,51 2,53 3,20 2,19 √
12 KICI PT Kedaung Indah Can Tbk 1,44 1,98 1,80 1,98 2,40 √
13 LMPI PT Langgeng Makmur Industry Tbk 1,51 1,30 1,07 0,99 0,94 √
14 INAF PT Indofarma (Persero) Tbk 1,95 1,87 1,83 2,22 1,26 √
15 PYFA PT Pyridam Farma Tbk 2,79 3,24 3,02 2,76 1,95 √
16 SCPI PT Schering Plough Indonesia Tbk 1,98 1,22 1,11 0,89 0,83 √
17 RMBA Bentoel International Investama Tbk 2,63 3,55 2,68 1,92 1,18 √
18 AISA PT Tiga Pilar Sejahtera Food Tbk 0,81 1,11 1,18 1,82 1,99 √
19 DAVO PT Davomas Abadi Tbk 1,79 1,33 0,74 (3,83) 1,45 √
20 INDF PT Indofood Sukses Makmur Tbk 1,94 2,46 2,32 2,37 1,80 √
21 PSDN PT Prashida Aneka Niaga Tbk 1,38 1,75 3,12 2,76 2,60 √
22 SKLT PT Sekar Laut Tbk 2,43 2,49 2,49 2,46 2,63 √
23 STTP PT Siantar Top Tbk 2,89 3,01 4,27 2,41 2,91 √
24 PTSN Sat Nusa Persada Tbk 2,25 2,83 2,95 2,93 3,11 √
25 JECC Jembo Cable Company Tbk 1,64 1,72 2,42 2,32 1,51 √
26 KBLM Kabelindo Murni Tbk 1,28 1,72 1,61 1,73 1,97 √
28 BIMA Primarindo Asia Infrastructure Tbk 1,17 1,57 (0,39) 0,37 (0,42) √
29 ADM
G Polychem Indonesia Tbk 0,71 0,95 1,63 1,31 1,36 √
30 ARGO Argo Pantes Tbk 0,02 0,26 (0,47) 1,10 0,09 √
31 CNTX Century Textile Industry Tbk (0,11) 0,26 1,20 0,16 0,26 √
32 ERTX Eratex Djaya Tbk 0,13 (1,37) 1,24 1,23 1,05 √
33 ESTI Ever Shine Tex Tbk 1,47 1,45 1,85 1,51 1,23 √
34 HDTX Pan asia Indo Resources Tbk 0,93 0,83 1,21 1,32 0,21 √
35 INDR Indo Rama Synthetic Tbk 1,17 1,66 1,54 1,38 1,27 √
36 MYTX Apac Citra Centertex Tbk 0,29 0,08 (2,27) (2,07) (0,47) √
37 PBRX Pan Brothers Tbk 2,33 2,48 2,62 2,31 2,51 √
38 POLY Asia Pasific Fibers Tbk (2,87) (3,64) (4,08) (4,77) (5,54) √
39 RICY Ricky Putra Globalindo Tbk 1,29 1,44 1,54 1,48 0,75 √
40 SSTM Sunson Textile Manufacturer Tbk 1,01 1,10 0,77 0,93 0,85 √
41 TFCO Tifico Fiber Indonesia Tbk (0,22) 1,92 2,56 2,63 2,01 √
42 UNIT Nusantara Inti Corpora Tbk 0,61 0,54 0,68 0,37 0,28 √
43 UNTX Unitex Tbk (0,19) (1,43) (1,16) 1,17 (0,93) √
44 GDYR Goodyear Indonesia Tbk 1,94 2,27 2,09 2,46 2,71 √
45 GJTL Gajah Tunggal Tbk 1,65 2,08 2,19 2,14 1,48 √
46 IMAS Indomobil Sukses International Tbk 2,84 3,60 3,91 2,83 2,46 √
47 INDS Indospring Tbk 1,96 1,98 2,69 2,70 2,04 √
48 LPIN Multi Prima Sejahtera Tbk 1,08 1,65 1,52 2,93 1,81 √
49 MASA Multistrada Arah Sarana Tbk 1,54 1,58 1,06 1,38 1,20 √
50 NIPS Nipress Tbk 1,12 1,63 1,89 1,97 1,62 √
51 PRAS Prima alloy steel Universal Tbk 0,50 0,92 0,71 0,85 0,64 √
52 FASW Fajar Surya Wisesa Tbk 2,07 2,20 2,54 1,35 1,32 √
53 INKP Indah Kiat Pulp & Paper Tbk 0,34 0,59 0,51 0,43 0,68 √
54 INRU Toba Pulp Lestari Tbk (1,40) (1,02) (0,72) (0,80) (0,91) √
55 KBRI Kertas Basuki Rachmat Indonesia Tbk 0,44 (2,30) (0,29) 3,68 (0,79) √
56 SPMA Suparma Tbk 1,14 1,34 1,16 1,29 0,98 √
57 TKIM Pabrik Kertas Tjiwi Kimia Tbk 0,90 1,01 0,97 0,93 0,85 √
59 TIRT Tirta Mahakam Resources Tbk 1,48 1,25 1,14 0,93 0,10 √
60 JPFA Japfa Comfeed Indonesia Tbk 1,59 3,92 3,36 3,35 2,64 √
61 SIPD Siearad Produce Tbk 2,72 2,46 1,84 1,51 1,41 √
62 AKKU Alam Karya Unggul Tbk 0,21 0,45 0,86 1,48 0,83 √
63 APLI Asiaplast Industries Tbk 1,78 1,96 1,69 1,74 1,67 √
64 BRNA Berlina Tbk 1,68 1,92 1,85 2,08 1,07 √
65 FPNI Titan Kimia Nusantara Tbk 1,77 1,00 1,47 1,60 1,71 √
66 SIAP Sekawan Intipratama Tbk 1,71 1,92 2,02 1,77 1,02 √
67 SIMA Siwani Makmur Tbk (1,29) (1,56) (1,69) (1,36) (0,67) √
68 TRST Trias Sentosa Tbk 1,86 1,96 2,29 1,91 1,16 √
69 BRPT Barito Pasific Tbk 1,45 1,27 1,39 1,03 1,17 √
70 BUDI Budi Acid Jaya Tbk 2,12 1,51 1,83 1,36 1,48 √
71 ETWA Eterindo Wahanatama Tbk 1,37 1,67 1,92 1,42 1,22 √
72 INCI Intan Wijaya International Tbk 2,91 4,08 1,93 2,34 3,06 √
73 SRSN Indo Acitama Tbk 2,10 2,36 2,85 2,38 2,68 √
74 UNIC Unggul Indah Cahaya Tbk 2,01 2,13 2,35 2,61 2,48 √
75 ALMI Alumindo Light Metal Industry Tbk 1,50 2,45 2,42 2,08 1,29 √
76 CTBN Citra Turbindo Tbk 2,86 2,01 3,76 3,02 2,91 √
77 GDST Gunawan Dianjaya Steel Tbk 1,41 3,54 4,71 2,81 2,81 √
78 INAI Indal Aluminium Industry Tbk 1,14 1,75 1,43 1,55 1,12 √
79 JKSW Jakarta Kyoei Steel Work LTD Tbk (0,49) (0,41) (0,64) (1,11) (1,04) √
80 MYRX Hanson International Tbk (1,18) (4,53) (0,20) 0,09 (0,09) √
81 PICO Pelangi Indah Canindo Tbk 1,37 1,31 1,66 1,61 1,72 √
82 IKAI Inti Keramik Alam Asri Industri Tbk 0,85 0,20 0,08 0,01 0,07 √
83 MLIA Mulia Industrindo Tbk 0,11 0,59 0,34 0,39 0,20 √
Lampiran 5A. Perhitungan dan Tabulasi Data Variabel Ukuran Perusahaan (Firm Size)
No Kode Nama Perusahaan
TOTAL ASET
FIRM SIZE
2010 2011 AVG
1 ADES PT Akasha Wira International Tbk
324.493
316.048
320.270,50 12,68 2 ULTJ PT Ultrajaya Milk Industry and Trading
Company Tbk
2.006.596
2.180.517
2.093.556,14 14,55
3 KBLI KMI Wire and Cable Tbk
594.564
1.083.524
839.043,58 13,64 4 SCCO Supreme Cable Manufacturing and
Commerce Tbk
1.157.613
1.455.621
1.306.616,80 14,08
5 EKAD Ekadharma International Tbk
204.470
237.592
221.031,40 12,31
6 JPRS Jaya Pari Steel Tbk
411.282
437.849
424.565,13 12,96
7 LMSH Lionmesh Prima Tbk
78.200
98.019
88.109,59 11,39
8 AMFG Asahimas Flat Glass Tbk
2.372.657
2.690.595
2.531.626,00 14,74
9 ARNA Arwana Citra Mulia Tbk
873.154
831.508
852.330,84 13,66
10 KIAS Keramika Indonesia Assosiasi Tbk
1.266.122
2.049.633
1.657.877,61 14,32
11 KDSI Kedawung Setia Industrial Tbk
557.725
587.567
572.645,90 13,26
12 KICI PT Kedaung Indah Can Tbk
85.942
87.419
86.680,66 11,37
13 LMPI PT Langgeng Makmur Industry Tbk
608.920
685.896
647.407,86 13,38
14 INAF PT Indofarma (Persero) Tbk
733.958
1.114.902
924.429,77 13,74
15 PYFA PT Pyridam Farma Tbk
100.587
118.034
109.310,30 11,6
16 SCPI PT Schering Plough Indonesia Tbk
233.756
312.519
273.137,37 12,52
17 RMBA Bentoel International Investama Tbk
4.902.597
6.333.957
5.618.277,00 15,54
18 AISA PT Tiga Pilar Sejahtera Food Tbk
1.936.949
3.590.309
2.763.629,22 14,83
19 DAVO PT Davomas Abadi Tbk
2.857.205
2.581.095
2.719.149,72 14,82
20 INDF PT Indofood Sukses Makmur Tbk
42.275.955
53.585.933
47.930.944,00 17,69
21 PSDN PT Prashida Aneka Niaga Tbk
414.611
421.366
417.988,88 12,94
22 SKLT PT Sekar Laut Tbk
199.375
214.238
206.806,66 12,24
23 STTP PT Siantar Top Tbk
649.274
934.766
792.019,95 13,58
24 PTSN Sat Nusa Persada Tbk
825.567
773.817
799.691,89 13,59
25 JECC Jembo Cable Company Tbk
561.999
627.038
594.518,31 13,3
26 KBLM Kabelindo Murni Tbk
403.195
642.955
523.074,74 13,17
27 VOKS Voksel Electric Tbk
1.126.481
1.573.039
28 BIMA Primarindo Asia Infrastructure Tbk 87.275
91.526
89.400,56 11,4
29 ADMG Polychem Indonesia Tbk
3.766.135
5.478.007
4.622.071,03 15,35
30 ARGO Argo Pantes Tbk
1.428.234
1.709.908
1.569.070,89 14,27
31 CNTX Century Textile Industry Tbk
315.631
331.643
323.636,74 12,69
32 ERTX Eratex Djaya Tbk
115.328
345.273
230.300,26 12,35
33 ESTI Ever Shine Tex Tbk
583.253
756.071
669.662,00 13,41
34 HDTX Pan asia Indo Resources Tbk
1.014.303
1.013.575
1.013.939,23 13,83
35 INDR Indo Rama Synthetic Tbk
5.085.915
6.118.883
5.602.398,91 15,54
36 MYTX Apac Citra Centertex Tbk
1.882.934
861.975
1.372.454,31 14,13
37 PBRX Pan Brothers Tbk
887.284
1.515.038
1.201.161,27 14
38 POLY Asia Pasific Fibers Tbk
3.988.442
4.104.497
4.046.469,56 15,21
39 RICY Ricky Putra Globalindo Tbk
613.323
642.095
627.708,93 13,35
40 SSTM Sunson Textile Manufacturer Tbk
872.459
843.450
857.954,44 13,66
41 TFCO Tifico Fiber Indonesia Tbk
1.804.572
3.519.073
2.661.822,27 14,79
42 UNIT Nusantara Inti Corpora Tbk
309.792
304.803
307.297,43 12,64
43 UNTX Unitex Tbk
153.902
166.345
160.123,52 11,98
44 GDYR Goodyear Indonesia Tbk
1.150.316
1.189.112
1.169.714,00 13,97
45 GJTL Gajah Tunggal Tbk
10.371.567
11.609.514
10.990.540,50 16,21
46 IMAS Indomobil Sukses International Tbk
4.509.196
7.386.526
5.947.861,05 15,6
47 INDS Indospring Tbk
770.609
1.139.715
955.162,27 13,77
48 LPIN Multi Prima Sejahtera Tbk
150.937
157.371
154.154,32 11,95
49 MASA Multistrada Arah Sarana Tbk
3.038.412
4.879.413
3.958.912,52 15,19
50 NIPS Nipress Tbk
337.606
446.688
392.147,09 12,88
51 PRAS Prima alloy steel Universal Tbk
461.969
580.960
521.464,17 13,16
52 FASW Fajar Surya Wisesa Tbk
4.495.022
4.936.094
4.715.558,07 15,37
53 INKP Indah Kiat Pulp & Paper Tbk
53.272.682
57.299.196
55.285.938,89 17,83
54 INRU Toba Pulp Lestari Tbk
2.623.505
2.913.691
2.768.597,71 14,83
55 KBRI Kertas Basuki Rachmat Indonesia Tbk
786.164
744.581
765.372,29 13,55
56 SPMA Suparma Tbk
1.490.034
1.551.777
1.520.905,59 14,23
57 TKIM Pabrik Kertas Tjiwi Kimia Tbk
20.946.818
23.294.758
58 SULI Sumalindo Lestari Jaya Tbk 1.955.536
1.695.019
1.825.277,53 14,42
59 TIRT Tirta Mahakam Resources Tbk
577.182
690.933
634.057,31 13,36
60 JPFA Japfa Comfeed Indonesia Tbk
6.979.762
8.266.417
7.623.089,50 15,85
61 SIPD Siearad Produce Tbk
2.055.743
2.641.603
2.348.673,07 14,67
62 AKKU Alam Karya Unggul Tbk
28.380
11.767
20.073,55 9,91
63 APLI Asiaplast Industries Tbk
335.652
334.702
335.177,02 12,72
64 BRNA Berlina Tbk
550.907
643.964
597.435,64 13,3
65 FPNI Titan Kimia Nusantara Tbk
2.968.673
3.312.740
3.140.706,36 14,96
66 SIAP Sekawan Intipratama Tbk
150.913
163.233
157.072,97 11,96
67 SIMA Siwani Makmur Tbk
50.432
47.684
49.058,41 10,8
68 TRST Trias Sentosa Tbk
2.029.558
2.078.643
2.054.100,62 14,54
69 BRPT Barito Pasific Tbk
16.015.188
19.254.505
17.634.846,29 16,69
70 BUDI Budi Acid Jaya Tbk
1.967.633
2.123.285
2.045.459,00 14,53
71 ETWA Eterindo Wahanatama Tbk
533.380
620.709
577.044,90 13,27
72 INCI Intan Wijaya International Tbk
134.028
125.185
129.606,27 11,77
73 SRSN Indo Acitama Tbk
364.005
361.182
362.593,48 12,8
74 UNIC Unggul Indah Cahaya Tbk
2.280.227
2.544.972
2.412.599,38 14,7
75 ALMI Alumindo Light Metal Industry Tbk
1.504.154
1.862.966
1.683.560,15 14,34
76 CTBN Citra Turbindo Tbk
2.465.544
2.227.490
2.346.517,02 14,67
77 GDST Gunawan Dianjaya Steel Tbk
1.074.570
977.463
1.026.016,14 13,84
78 INAI Indal Aluminium Industry Tbk
389.007
544.282
466.644,93 13,05
79 JKSW Jakarta Kyoei Steel Work LTD Tbk
289.988
287.132
288.559,74 12,57
80 MYRX Hanson International Tbk
133.216
861.975
497.595,13 13,12
81 PICO Pelangi Indah Canindo Tbk
570.360
561.840
566.100,30 13,25
82 IKAI Inti Keramik Alam Asri Industri Tbk
643.788
548.790
596.288,99 13,3
83 MLIA Mulia Industrindo Tbk
4.532.300
6.119.186
5.325.742,60 15,49
84 TOTO Surya Toto Indonesia Tbk
1.091.583
1.339.570
Lampiran 5B. Perhitungan dan Tabulasi Data Variabel Profitabilitas (Profitability)
No Kode Nama Perusahaan
TOTAL ASET EBIT
PFB
2010 2011 AVG 2010 2011 AVG
1 ADES PT Akasha Wira International Tbk
39.496
29.627 34.562
324.493 316.048
320.270,50 0,108
2 ULTJ PT Ultrajaya Milk Industry and Trading Company Tbk
235.017
156.818 195.917
2.006.596 2.180.517
2.093.556,14 0,094
3 KBLI KMI Wire and Cable Tbk
69.638
94.128 81.883
594.564 1.083.524
839.043,58 0,098
4 SCCO Supreme Cable Manufacturing and Commerce Tbk
101.709
115.458 108.584
1.157.613 1.455.621
1.306.616,80 0,083
5 EKAD Ekadharma International Tbk
33.672
35.219 34.446
204.470 237.592
221.031,40 0,156
6 JPRS Jaya Pari Steel Tbk
40.443
51.037 45.740
411.282 437.849
424.565,13 0,108
7 LMSH Lionmesh Prima Tbk
11.879
15.148 13.514
78.200 98.019
88.109,59 0,153
8 AMFG Asahimas Flat Glass Tbk
439.009
446.661 442.835
2.372.657 2.690.595
2.531.626,00 0,175
9 ARNA Arwana Citra Mulia Tbk
107.737
129.918 118.828
873.154 831.508
852.330,84 0,139
10 KIAS Keramika Indonesia Assosiasi Tbk
7.283
(21.758) -7.237
1.266.122 2.049.633
1.657.877,61 (0,004)
11 KDSI Kedawung Setia Industrial Tbk
34.681
30.949 32.815
557.725 587.567
572.645,90 0,057
12 KICI PT Kedaung Indah Can Tbk
6.867
988 3.927
85.942 87.419
86.680,66 0,045
13 LMPI PT Langgeng Makmur Industry Tbk
14.639
7.745 11.192
608.920 685.896
647.407,86 0,017
14 INAF PT Indofarma (Persero) Tbk
20.409
55.203 37.806
733.958 1.114.902
924.429,77 0,041
15 PYFA PT Pyridam Farma Tbk
6.982
8.077 7.530
100.587 118.034
16 SCPI PT Schering Plough Indonesia Tbk (7.493)
(28.180) -17.837
233.756 312.519
273.137,37 (0,065)
17 RMBA Bentoel International Investama Tbk
521.308
485.237 503.273
4.902.597 6.333.957
5.618.277,00 0,090
18 AISA PT Tiga Pilar Sejahtera Food Tbk
181.395
185.179 183.287
1.936.949 3.590.309
2.763.629,22 0,066
19 DAVO PT Davomas Abadi Tbk
214.471
(157.296) 28.588
2.857.205 2.581.095
2.719.149,72 0,011
20 INDF PT Indofood Sukses Makmur Tbk
5.432.375
6.347.274 5.889.825
42.275.955 53.585.933 47.930.944,00 0,123
21 PSDN PT Prashida Aneka Niaga Tbk
47.527
37.117 42.322
414.611 421.366
417.988,88 0,101
22 SKLT PT Sekar Laut Tbk
9.024
11.527 10.276
199.375 214.238
206.806,66 0,050
23 STTP PT Siantar Top Tbk
51.458
60.382 55.920
649.274 934.766
792.019,95 0,071
24 PTSN Sat Nusa Persada Tbk
(13.835)
(9.536) -11.685
825.567 773.817
799.691,89 (0,015)
25 JECC Jembo Cable Company Tbk
17.288
41.273 29.280
561.999 627.038
594.518,31 0,049
26 KBLM Kabelindo Murni Tbk
5.827
25.452 15.640
403.195 642.955
523.074,74 0,030
27 VOKS Voksel Electric Tbk
41.908
161.193 101.550
1.126.481 1.573.039
1.349.759,96 0,075
28 BIMA Primarindo Asia Infrastructure Tbk
13.913
4.713 9.313
87.275 91.526
89.400,56 0,104
29 ADMG Polychem Indonesia Tbk
133.191
436.396 284.793
3.766.135 5.478.007
4.622.071,03 0,062
30 ARGO Argo Pantes Tbk
58.205
(196.154) -68.975
1.428.234 1.709.908
1.569.070,89 (0,044)
31 CNTX Century Textile Industry Tbk
(8.628)
33.511 12.441
315.631 331.643
323.636,74 0,038
32 ERTX Eratex Djaya Tbk
(33.250)
97.570 32.160
115.328 345.273
230.300,26 0,140
33 ESTI Ever Shine Tex Tbk
10.522
11.198 10.860
583.253 756.071
34 HDTX Pan asia Indo Resources Tbk 21.098
39.891 30.495
1.014.303 1.013.575
1.013.939,23 0,030
35 INDR Indo Rama Synthetic Tbk
296.178
89.220 192.699
5.085.915 6.118.883
5.602.398,91 0,034
36 MYTX Apac Citra Centertex Tbk
(101.772)
120.032 9.130
1.882.934 861.975
1.372.454,31 0,007
37 PBRX Pan Brothers Tbk
72.610
119.557 96.084
887.284 1.515.038
1.201.161,27 0,080
38 POLY Asia Pasific Fibers Tbk
278.836
(328.065) -24.615
3.988.442 4.104.497
4.046.469,56 (0,006)
39 RICY Ricky Putra Globalindo Tbk
14.241
31.257 22.749
613.323 642.095
627.708,93 0,036
40 SSTM Sunson Textile Manufacturer Tbk
63.735
5.220 34.477
872.459 843.450
857.954,44 0,040
41 TFCO Tifico Fiber Indonesia Tbk
99.675
336.753 218.214
1.804.572 3.519.073
2.661.822,27 0,082
42 UNIT Nusantara Inti Corpora Tbk
2.343
11.807 7.075
309.792 304.803
307.297,43 0,023
43 UNTX Unitex Tbk
(25.813)
(7.150) -16.481
153.902 166.345
160.123,52 (0,103)
44 GDYR Goodyear Indonesia Tbk
88.997
28.456 58.726
1.150.316 1.189.112
1.169.714,00 0,050
45 GJTL Gajah Tunggal Tbk
1.120.440
856.614 988.527
10.371.567 11.609.514 10.990.540,50 0,090
46 IMAS Indomobil Sukses International Tbk
830.775
1.188.362 1.009.569
4.509.196 7.386.526
5.947.861,05 0,170
47 INDS Indospring Tbk
7.207
160.680 83.943
770.609 1.139.715
955.162,27 0,088
48 LPIN Multi Prima Sejahtera Tbk
19.072
15.922 17.497
150.937 157.371
154.154,32 0,114
49 MASA Multistrada Arah Sarana Tbk
227.186
108.454 167.820
3.038.412 4.879.413
3.958.912,52 0,042
50 NIPS Nipress Tbk
27.356
57.072 42.214
337.606 446.688
392.147,09 0,108
51 PRAS Prima alloy steel Universal Tbk
25.378
7.027 16.203
461.969 580.960
52 FASW Fajar Surya Wisesa Tbk 380.980
182.076 281.528
4.495.022 4.936.094
4.715.558,07 0,060
53 INKP Indah Kiat Pulp & Paper Tbk
1.430.549
885.173 1.157.861
53.272.682 57.299.196 55.285.938,89 0,021
54 INRU Toba Pulp Lestari Tbk
(13.586)
29.818 8.116
2.623.505 2.913.691
2.768.597,71 0,003
55 KBRI Kertas Basuki Rachmat Indonesia Tbk
(485.591)
(19.613) -252.602
786.164 744.581
765.372,29 (0,330)
56 SPMA Suparma Tbk
84.341
44.417 64.379
1.490.034 1.551.777
1.520.905,59 0,042
57 TKIM Pabrik Kertas Tjiwi Kimia Tbk
868.881
1.133.355 1.001.118
20.946.818 23.294.758 22.120.788,11 0,045
58 SULI Sumalindo Lestari Jaya Tbk
(36.917)
(298.429) -167.673
1.955.536 1.695.019
1.825.277,53 (0,092)
59 TIRT Tirta Mahakam Resources Tbk
9.533
19.418 14.476
577.182 690.933
634.057,31 0,023
60 JPFA Japfa Comfeed Indonesia Tbk
1.648.182
1.203.713 1.425.948
6.979.762 8.266.417
7.623.089,50 0,187
61 SIPD Siearad Produce Tbk
93.121
34.013 63.567
2.055.743 2.641.603
2.348.673,07 0,027
62 AKKU Alam Karya Unggul Tbk
(2.647)
(6.458) -4.552
28.380 11.767
20.073,55 (0,227)
63 APLI Asiaplast Industries Tbk
32.857
18.889 25.873
335.652 334.702
335.177,02 0,077
64 BRNA Berlina Tbk
47.282
58.174 52.728
550.907 643.964
597.435,64 0,088
65 FPNI Titan Kimia Nusantara Tbk
(213.909)
(99.882) -156.895
2.968.673 3.312.740
3.140.706,36 (0,050)
66 SIAP Sekawan Intipratama Tbk
7.214
4.569 5.891
150.913 163.233
157.072,97 0,038
67 SIMA Siwani Makmur Tbk
(10.125)
(6.574) -8.350
50.432 47.684
49.058,41 (0,170)
68 TRST Trias Sentosa Tbk
190.737
181.654 186.195
2.029.558 2.078.643
2.054.100,62 0,091
69 BRPT Barito Pasific Tbk
131.950
(216.312) -42.181
70 BUDI Budi Acid Jaya Tbk 131.824
152.031 141.928
1.967.633 2.123.285
2.045.459,00 0,069
71 ETWA Eterindo Wahanatama Tbk
55.300
101.495 78.397
533.380 620.709
577.044,90 0,136
72 INCI Intan Wijaya International Tbk
(21.330)
(17.613) -19.471
134.028 125.185
129.606,27 (0,150)
73 SRSN Indo Acitama Tbk
22.089
33.811 27.950
364.005 361.182
362.593,48 0,077
74 UNIC Unggul Indah Cahaya Tbk
40.326
78.821 59.573
2.280.227 2.544.972
2.412.599,38 0,025
75 ALMI Alumindo Light Metal Industry Tbk
113.902
104.950 109.426
1.504.154 1.862.966
1.683.560,15 0,065
76 CTBN Citra Turbindo Tbk
258.386
555.757 407.071
2.465.544 2.227.490
2.346.517,02 0,173
77 GDST Gunawan Dianjaya Steel Tbk
225.614
139.855 182.735
1.074.570 977.463
1.026.016,14 0,178
78 INAI Indal Aluminium Industry Tbk
48.369
43.205 45.787
389.007 544.282
466.644,93 0,098
79 JKSW Jakarta Kyoei Steel Work LTD Tbk
2.079
(2.651) -286
289.988 287.132
288.559,74 (0,001)
80 MYRX Hanson International Tbk
40.099
120.032 80.065
133.216 861.975
497.595,13 0,161
81 PICO Pelangi Indah Canindo Tbk
16.722
51.262 33.992
570.360 561.840
566.100,30 0,060
82 IKAI Inti Keramik Alam Asri Industri Tbk
(31.991)
(31.236) -31.614
643.788 548.790
596.288,99 (0,053)
83 MLIA Mulia Industrindo Tbk
356.589
(17.915) 169.337
4.532.300 6.119.186
5.325.742,60 0,032
84 TOTO Surya Toto Indonesia Tbk
268.136
305.953 287.044
1.091.583 1.339.570
Lampiran 5C. Perhitungan dan Tabulasi Data Variabel Kecenderungan
tingkat kesehatan perusahaan (∆Severity)
1.000.000
No Kode Nama Perusahaan
Z Score 2010/2011
WC TA
WC/ TA
RE TA
RE/ TA
EBIT TA
EBIT/ TA
MVE BVD
MVE /BVD
S TA
S/TA Z-
Score AVG
(2010/ 2011)
AVG (2010/ 2011)
AVG (2010/ 2011)
AVG (2010/ 2011)
AVG (2010/ 2011)
AVG (2010 /2011)
AVG (2010/ 2011)
AVG (2010/ 2011)
AVG (2010/ 2011)
AVG (2010/ 2011)
1 ADES PT Akasha Wira International
Tbk 49.034 320.271 0,11 30.327 320.271 0,08 34.562 320.271 0,335 775.714 207.459 1,570 259.079 320.271 0,807 2,90
2 ULTJ PT Ultrajaya Milk Industry and
Trading Company Tbk 384.733 2.093.556 0,13 694.524 2.093.556 0,28 195.917 2.093.556 0,291 3.307.197 767.009 1,811 1.991.398 2.093.556 0,949 3,46
3 KBLI KMI Wire and Cable Tbk 348.071 839.044 0,30 (247.492) 839.044 -0,25 81.883 839.044 0,303 368.666 333.744 0,464 1.535.016 839.044 1,826 2,64
4 SCCO Supreme Cable Manufacturing
and Commerce Tbk 229.553 1.306.617 0,13 250.158 1.306.617 0,16 108.584 1.306.617 0,258 521.668 832.727 0,263 2.781.062 1.306.617 2,124 2,93
5 EKAD Ekadharma International Tbk 63.462 221.031 0,21 76.862 221.031 0,29 34.446 221.031 0,484 169.104 84.609 0,839 291.368 221.031 1,316 3,14
6 JPRS Jaya Pari Steel Tbk 198.639 424.565 0,34 243.629 424.565 0,49 45.740 424.565 0,335 399.375 105.588 1,589 534.584 424.565 1,257 4,00
7 LMSH Lionmesh Prima Tbk 36.858 88.110 0,30 42.230 88.110 0,41 13.514 88.110 0,477 47.040 36.116 0,547 184.267 88.110 2,087 3,82
8 AMFG Asahimas Flat Glass Tbk 1.049.076 2.531.626 0,30 1.611.980 2.531.626 0,54 442.835 2.531.626 0,543 2.679.950 537.564 2,094 2.511.205 2.531.626 0,990 4,46
9 ARNA Arwana Citra Mulia Tbk (2.334) 852.331 (0,00) 350.315 852.331 0,35 118.828 852.331 0,433 601.080 403.214 0,626 876.434 852.331 1,026 2,43
10 KIAS Keramika Indonesia Assosiasi
Tbk (70.289) 1.657.878 (0,03) (1.021.346) 1.657.878 -0,52 (7.237) 1.657.878 (0,014) 711.913 993.040 0,301 616.421 1.657.878 0,371 0,11
11 KDSI Kedawung Setia Industrial Tbk 85.260 572.646 0,11 61.248 572.646 0,09 32.815 572.646 0,178 97.200 305.291 0,134 1.151.778 572.646 2,007 2,52
12 KICI PT Kedaung Indah Can Tbk 47.590 86.681 0,39 (8.181) 86.681 -0,08 3.927 86.681 0,141 25.185 22.561 0,469 84.154 86.681 0,969 1,89
13 LMPI PT Langgeng Makmur Industry
Tbk 117.694 647.408 0,13 (99.851) 647.408 -0,13 11.192 647.408 0,054 239.523 243.000 0,414 451.891 647.408 0,697 1,16
15 PYFA PT Pyridam Farma Tbk 34.475 109.310 0,23 24.238 109.310 0,19 7.530 109.310 0,214 81.065 29.499 1,154 145.976 109.310 1,333 3,11
16 SCPI PT Schering Plough Indonesia
Tbk 82.930 273.137 0,22 (5.829) 273.137 -0,02 (17.837) 273.137 (0,203) 113.220 256.277 0,186 266.814 273.137 0,975 1,16
17 RMBA Bentoel International
Investama Tbk 1.144.984 5.618.277 0,15 1.571.478 5.618.277 0,24 503.273 5.618.277 0,278 5.755.804 3.429.872 0,705 9.487.372 5.618.277 1,685 3,05
18 AISA PT Tiga Pilar Sejahtera Food
Tbk 481.230 2.763.629 0,12 45.344 2.763.629 0,01 183.287 2.763.629 0,206 1.376.265 1.552.187 0,372 1.229.011 2.763.629 0,444 1,16
19 DAVO PT Davomas Abadi Tbk 1.003.333 2.719.150 0,26 138.988 2.719.150 0,04 28.588 2.719.150 0,033 769.030 1.889.533 0,171 1.465.641 2.719.150 0,538 1,05
20 INDF PT Indofood Sukses Makmur
Tbk 10.944.65 47.930.944 0,16 10.065.54 47.930.944 0,18 5.889.825 47.930.944 0,382 41.597.271 22.199.413 0,787 42.085.752 47.930.944 0,876 2,39
21 PSDN PT Prashida Aneka Niaga Tbk 85.833 417.989 0,15 (574.804) 417.989 -1,16 42.322 417.989 0,315 280.800 218.086 0,541 1.087.409 417.989 2,596 2,43
22 SKLT PT Sekar Laut Tbk 45.084 206.807 0,16 29.946 206.807 0,12 10.276 206.807 0,154 96.704 86.204 0,471 329.291 206.807 1,589 2,49
23 STTP PT Siantar Top Tbk 52.582 792.020 0,05 337.178 792.020 0,36 55.920 792.020 0,219 1.660.425 323.317 2,157 895.148 792.020 1,128 3,91
24 PTSN Sat Nusa Persada Tbk 79.501 799.692 0,07 6.030 799.692 0,01 (11.685) 799.692 (0,045) 146.144 326.604 0,188 2.134.890 799.692 2,664 2,88
25 JECC Jembo Cable Company Tbk 41.833 594.518 0,05 31.730 594.518 0,05 29.280 594.518 0,153 92.232 481.413 0,080 1.049.071 594.518 1,761 2,09
26 KBLM Kabelindo Murni Tbk (11.650) 523.075 (0,02) 23.291 523.075 0,04 15.640 523.075 0,093 125.440 287.092 0,184 703.685 523.075 1,343 1,64
27 VOKS Voksel Electric Tbk 237.771 1.349.760 0,13 23.140 1.349.760 0,01 101.550 1.349.760 0,234 527.762 908.425 0,244 1.662.089 1.349.760 1,229 1,85
28 BIMA Primarindo Asia Infrastructure
Tbk (58.651) 89.401 (0,47) (234.660) 89.401 -2,22 9.313 89.401 0,324 77.400 281.060 0,116 252.920 89.401 2,823 0,57
29 ADMG Polychem Indonesia Tbk 361.934 4.622.071 0,06 (495.040) 4.622.071 -0,09 284.793 4.622.071 0,191 1.545.949 2.595.918 0,250 4.319.340 4.622.071 0,933 1,34
30 ARGO Argo Pantes Tbk (58.133) 1.569.071 (0,03) (1.087.650) 1.569.071 -0,59 (68.975) 1.569.071 (0,137) 402.669 1.282.974 0,132 756.272 1.569.071 0,481 (0,14)
31 CNTX Century Textile Industry Tbk (18.248) 323.637 (0,04) (130.433) 323.637 -0,34 12.441 323.637 0,119 32.500 286.925 0,048 309.601 323.637 0,955 0,74
32 ERTX Eratex Djaya Tbk (49.656) 230.300 (0,15) (214.634) 230.300 -0,79 32.160 230.300 0,434 17.529 295.577 0,025 245.313 230.300 1,063 0,58
34 HDTX Pan asia Indo Resources Tbk (25.401) 1.013.939 (0,02) (230.963) 1.013.939 -0,19 30.495 1.013.939 0,093 337.166 457.021 0,310 839.437 1.013.939 0,826 1,02
35 INDR Indo Rama Synthetic Tbk 210.160 5.602.399 0,03 1.094.189 5.602.399 0,17 192.699 5.602.399 0,107 1.204.007 2.971.953 0,170 6.312.482 5.602.399 1,124 1,59
36 MYTX Apac Citra Centertex Tbk (1.342.877) 1.372.454 (0,70) (1.137.305) 1.372.454 -0,70 9.130 1.372.454 0,021 214.867 2.581.432 0,035 953.713 1.372.454 0,694 (0,65)
37 PBRX Pan Brothers Tbk 234.109 1.201.161 0,14 139.286 1.201.161 0,10 96.084 1.201.161 0,249 1.030.402 775.209 0,558 1.799.398 1.201.161 1,495 2,54
38 POLY Asia Pasific Fibers Tbk (8.790.898) 4.046.470 (1,56) (17.079.315) 4.046.470 -3,58 (24.615) 4.046.470 (0,019) 820.033 11.476.832 0,030 5.109.239 4.046.470 1,260 (3,86)
39 RICY Ricky Putra Globalindo Tbk 202.738 627.709 0,23 15.735 627.709 0,02 22.749 627.709 0,113 117.113 283.593 0,173 598.359 627.709 0,951 1,49
40 SSTM Sunson Textile Manufacturer
Tbk 226.807 857.954 0,19 (52.226) 857.954 -0,05 34.477 857.954 0,125 237.109 546.830 0,182 424.903 857.954 0,494 0,94
41 TFCO Tifico Fiber Indonesia Tbk 76.360 2.661.822 0,02 (880.433) 2.661.822 -0,28 218.214 2.661.822 0,255 2.435.654 900.119 1,136 3.184.878 2.661.822 1,194 2,33
43 UNTX Unitex Tbk
46 IMAS Indomobil Sukses
International Tbk
51 PRAS Prima alloy steel Universal Tbk
55 KBRI Kertas Basuki Rachmat
Indonesia Tbk
57 TKIM Pabrik Kertas Tjiwi Kimia
62 AKKU Alam Karya Unggul Tbk
75 ALMI Alumindo Light Metal
Industry Tbk
79 JKSW Jakarta Kyoei Steel Work
81 PICO Pelangi Indah Canindo Tbk 30.520
566.100
0,04
51.027
566.100 0,08
33.992
566.100
0,187
108.844
384.348
0,119
603.776
566.100
1,064
1,48
82 IKAI Inti Keramik Alam Asri
Industri Tbk
(91.019)
596.289
(0,11)
(84.551)
596.289 -0,12
(31.614)
596.289
(0,165)
114.355
281.914
0,170
219.844
596.289
0,368
0,14
83 MLIA Mulia Industrindo Tbk
449.392
5.325.743
0,06
(2.780.622)
5.325.743 -0,44
169.337
5.325.743
0,099
572.198
5.132.065
0,047
3.632.170
5.325.743
0,681
0,44
84 TOTO Surya Toto Indonesia Tbk
383.680
1.215.577
0,23
632.963
1.215.577 0,44
287.044
1.215.577
0,734
2.204.352
519.815
1,781
1.231.713
1.215.577
1,011
1.311.751 2.522.264
353.775
7.805.485
0,032
1.331.997 7.805.485 0,145 42.742 7.805.485
0,017
791.766
4.557.770
0,073 8.224.468 7.805.485
1,052 1,32 (0,28)
(2.614.519)
1.605.883
(1,167)
(1.224.409) 1.605.883 (0,646) 60.433 1.605.883
0,117
498.667
4.565.257
0,046 1.009.113 1.605.883
0,627 (1,02) (0,37)
920.343
2.463.064
0,268
357.825 2.463.064 0,123 184.096 2.463.064
0,232
1.368.131
1.431.706
0,401 3.472.676 2.463.064
1,407 2,43 (0,11)
(9.880.892)
4.104.078
(1,726)
(2.752.397) 4.104.078 (0,568) -424.149 4.104.078
(0,321)
340.670
13.007.270
0,011 6.342.025 4.104.078
1,542 (1,06) 2,80
331.540
855.862
0,278
37.956 855.862 0,038 30.626 855.862
0,111
111.338
486.382
0,096 503.350 855.862
0,587 1,11 (0,38)
139.356
806.071
0,124
(85.026) 806.071 (0,089) 15.839 806.071
0,061
124.702
527.747
0,099 564.110 806.071
0,698 0,89 (0,05)
452.250
4.178.356
0,078
65.004 4.178.356 0,013 -25.324 4.178.356
(0,019)
2.700.923
842.352
1,347 3.703.096 4.178.356
0,884 2,30 (0,02)
(92.071)
419.510
(0,157)
23.065 419.510 0,047 19.993 419.510
0,148
22.438
178.669
0,053 95.176 419.510
(240.962)
3.226.081
(0,054)
(1.114.178) 3.226.081 (0,293) 31.181 3.226.081
0,030
881.535
658.868
0,562 143.963 3.226.081 0,045 0,29 0,99
95.678
608.008
0,113
76.348 608.008 0,106 53.791 608.008
0,275
117.938
400.934
0,124 638.858 608.008 1,049 1,67 0,18
(49.145)
494.741
(0,071)
(171.083) 494.741 (0,293) -30.135 494.741
(0,189)
111.585
267.594
0,175 206.364 494.741 0,416 0,04 (0,11)
306.862
6.874.427
0,032
(3.065.226) 6.874.427 (0,378) -237.044 6.874.427
(0,107)
436.590
5.660.587
0,032 4.888.860 6.874.427 0,710 0,29 (0,16)
555.671
1.634.421
0,244
903.059 1.634.421 0,468 329.743 1.634.421
0,627
2.071.843
667.513
Lampiran 5D. Perhitungan dan Tabulasi Data Variabel Free Assets
No Kode Nama Perusahaan
TOTAL ASET TOTAL HUTANG
FA
2010 2011 AVG 2010 2011 AVG
1 ADES PT Akasha Wira International Tbk
324.493
316.048
320.271
224.615
190.302
207.458,50
0,3522
2 ULTJ PT Ultrajaya Milk Industry and Trading Company Tbk
2.006.596
2.180.517
2.093.556
705.472
828.545
767.008,77
0,6336
3 KBLI KMI Wire and Cable Tbk
594.564
1.083.524
839.044
303.891
363.597
333.743,76
0,6022
4 SCCO Supreme Cable Manufacturing and Commerce Tbk
1.157.613
1.455.621
1.306.617
729.085
936.368
832.726,59
0,3627
5 EKAD Ekadharma International Tbk
204.470
237.592
221.031
79.271
89.947
84.608,92
0,6172
6 JPRS Jaya Pari Steel Tbk
411.282
437.849
424.565
111.147
100.029
105.588,40
0,7513
7 LMSH Lionmesh Prima Tbk
78.200
98.019
88.110
31.415
40.816
36.115,58
0,5901
8 AMFG Asahimas Flat Glass Tbk
2.372.657
2.690.595
2.531.626
529.732
545.395
537.563,50
0,7877
9 ARNA Arwana Citra Mulia Tbk
873.154
831.508
852.331
458.094
348.334
403.214,22
0,5269
10 KIAS Keramika Indonesia Assosiasi Tbk
1.266.122
2.049.633
1.657.878
1.006.432
979.649
993.040,39
0,4010
11 KDSI Kedawung Setia Industrial Tbk
557.725
587.567
572.646
302.184
308.398
305.291,21
0,4669
12 KICI PT Kedaung Indah Can Tbk
85.942
87.419
86.681
22.001
23.122
22.561,43
0,7397
13 LMPI PT Langgeng Makmur Industry Tbk
608.920
685.896
647.408
207.224
278.776
243.000,09
0,6247
14 INAF PT Indofarma (Persero) Tbk
733.958
1.114.902
924.430
422.690
505.708
464.198,76
0,4979
15 PYFA PT Pyridam Farma Tbk
100.587
118.034
109.310
23.362
35.636
29.499,07
16 SCPI PT Schering Plough Indonesia Tbk 3.429.871,50
1.552.186,56
1.889.532,86
22.199.412,50
2.595.917,82
1.282.973,97
34 HDTX Pan asia Indo Resources Tbk 2.971.953,35
2.581.432,39
11.476.831,69
6.984.123,00
7.103.828,74
2.189.765,25
52 FASW Fajar Surya Wisesa Tbk 2.909.410,25
37.090.510,10
1.627.401,64
15.719.826,98
1.626.881,67
3.986.982,50
1.096.631,13
1.789.490,91
8.734.369,09
