Pengaruh Management Changes, Financial Distress, Audit Tenure, Reputasi Auditor, Ukuran Perusahaan Klien, dan Kondisi Keuangan Perusahaan Terhadap Auditor Switching

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56 LAMPIRAN

Lampiran 1 : OUTPUT SPSS

A. Statistik Deskriptif

Tabel 1.1.

Descriptive Statistics

N Minimum Maximum Mean Std. Deviation SPREAD 126 .00464 8.88432 2.8679550 1.78371329 KI 126 .05011 .93279 .5544176 .20676126 DKI 126 .25000 .66667 .3868738 .08078802 UKA 126 3 5 3.10 .321 KM 126 .00002 .36599 .0659166 .08111397 SIZE 126 10.99131 14.38994 12.2808198 .77292602 DA 126 .00267 .10647 .0446902 .02289816 Valid N (listwise) 126

Sumber : Data sekunder diolah, 2017.

B. Uji Asumsi Klasik Manajemen Laba

1. Uji Normalitas Manajemen Laba

Tabel 1.2.

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Kolmogorov-Smirnova Shapiro-Wilk Statistic Df Sig. Statistic df Sig. Unstandardized

Residual

.134 186 .000 .873 186 .000

a. Lilliefors Significance Correction

Sumber : Data sekunder diolah, 2017.

Tabel 1.3.

Uji Normalitas Akhir

Residual

.049 176 .200* .979 176 .010

*. This is a lower bound of the true significance.

Sumber : Data sekunder diolah, 2017.

2. Uji Heterokedastisitas Manajemen Laba

Tabel 1.4.

Uji Heterokedastisitas Model Unstandardized Coefficients Standardized Coefficients t Sig.

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B Std. Error Beta 1 (Constant) .044 .007 6.348 .000 ?SALES / TA t-1 .013 .013 .073 .960 .338 PPE / TA t-1 .020 .014 .103 1.368 .173

a. Dependent Variable: absres1

Sumber : Data sekunder diolah, 2017.

3. Uji Autokorelasi Manajemen Laba

Tabel 1.5.

Uji Autokorelasi Model R R Square Adjusted R Square Std. Error of the Estimate Durbin-Watson 1 .407a .166 .156 .06968351 2.008

a. Predictors: (Constant), PPE / TA t-1, ?SALES / TA t-1 b. Dependent Variable: TAC / TA t-1

Sumber : Data sekunder diolah, 2017.

4. Uji Multikolonieritas Manajemen Laba

Tabel 1.6.

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Model Unstandardized Coefficients Standardize d Coefficients t Sig. Collinearity Statistics B Std. Error Beta Toleranc e VIF 1 (Constant) .018 .011 1.690 .093 ?SALES / TA t-1 .089 .021 .294 4.221 .000 .993 1.007 PPE / TA t-1 -.100 .023 -.306 -4.396 .000 .993 1.007 a. Dependent Variable: TAC / TA t-1

Sumber : Data sekunder diolah, 2017.

C. Hasil Analisis Data Uji Hipotesis

1. Uji Normalitas Hipotesis

Tabel 1.7.

Uji Normalitas Awal

Kolmogorov-Smirnova Shapiro-Wilk Statistic df Sig. Statistic df Sig. Unstandardized

Residual

.136 176 .000 .877 176 .000

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60 Sumber : Data sekunder diolah, 2017.

Tabel 1.8.

Uji Normalitas Akhir

Residual

.064 126 .200* .969 126 .005

*. This is a lower bound of the true significance.

Sumber : Data sekunder diolah, 2017.

2. Uji Heterokedastisitas Hipotesis

Tabel 1.9.

Uji Heterokedastisitas Model Unstandardized Coefficients Standardized Coefficients t Sig. Collinearity Statistics

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B Std. Error Beta Tolerance VIF

1 (Constant) .002 .023 .082 .935 SPREAD .000 .001 .038 .422 .674 .997 1.003 KI 6.097E-5 .006 .001 .011 .991 .859 1.165 DKI .000 .013 .002 .019 .985 .977 1.024 UKA -.003 .003 -.078 -.845 .400 .965 1.036 KM .016 .017 .112 .971 .334 .623 1.606 SIZE .002 .002 .109 .997 .321 .690 1.450

a. Dependent Variable: absres2

Sumber : Data sekunder diolah, 2017.

3. Uji Autokorelasi Hipotesis

Tabel 1.10.

Uji Autokorelasi Model R R Square Adjusted R Square Std. Error of the Estimate Durbin-Watson 1 .522a .273 .236 .02001089 2.079

a. Predictors: (Constant), SIZE, SPREAD, DKI, KI, UKA, KM b. Dependent Variable: DA

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4. Uji Multikolonieritas Hipotesis

Tabel 1.11.

Uji Multikolonieritas Model Unstandardized Coefficients Standardized Coefficients t Sig. Collinearity Statistics

1 (Constant) -.145 .039 -3.722 .000 SPREAD .003 .001 .217 2.771 .006 .997 1.003 KI .039 .009 .349 4.132 .000 .859 1.165 DKI .048 .022 .169 2.143 .034 .977 1.024 UKA -.006 .006 -.084 -1.062 .290 .965 1.036 KM .127 .028 .451 4.550 .000 .623 1.606 SIZE .012 .003 .418 4.436 .000 .690 1.450 a. Dependent Variable: DA

Sumber : Data sekunder diolah, 2017.

5. Uji Regresi

Tabel 1.12.

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Model R R Square Adjusted R Square Std. Error of the Estimate 1 .522a .273 .236 .02001089

Sumber : Data sekunder diolah, 2017.

Tabel 1.13.

Uji Anova (F Statistik)

Model

Sum of

Squares Df Mean Square F Sig.

1 Regression .018 6 .003 7.446 .000a

Residual .048 119 .000

Total .066 125

Sumber : Data sekunder diolah, 2017.

6. Uji Hipotesis

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Uji Hipotesis Model Unstandardized Coefficients Standardized Coefficients t Sig. Collinearity Statistics

1 (Constant) -.145 .039 -3.722 .000 SPREAD .003 .001 .217 2.771 .006 .997 1.003 KI .039 .009 .349 4.132 .000 .859 1.165 DKI .048 .022 .169 2.143 .034 .977 1.024 UKA -.006 .006 -.084 -1.062 .290 .965 1.036 KM .127 .028 .451 4.550 .000 .623 1.606 SIZE .012 .003 .418 4.436 .000 .690 1.450 a. Dependent Variable: DA

Sumber : Data sekunder diolah, 2017.

Lampiran 2 : TABULASI DATA EXCEL

A. VARIABEL DEPENDEN MANAJEMEN LABA (sampel awal, 186 sampel)

Tabel 2.1 NI, CFO, TOT.ASET t-1, PPE

NO KODE TAHUN NI CFO TOT.ASET t-1 PPE

1 ALMI 2016 (99,931,854,409) 49,190,107,633 2,189,037,586,057 701,939,227,149 2 ASII 2016 19,804,000,000 19,407,000,000 245,435,000,000 43,237,000,000

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3 BRNA 2016 12,664,977,000 90,207,118,000 1,820,783,911,000 1,196,816,898,000 4 BRPT 2016 3,740,592,724,000 5,835,809,142,000 30,925,830,984,000 21,186,121,680,000 5 BTON 2016 (5,571,166,686) (1,794,007,269) 183,116,245,288 11,883,973,967 6 DPNS 2016 10,009,391,103 14,127,914,662 274,483,110,371 11,927,709,719 7 GGRM 2016 6,672,682,000,000 6,937,650,000,000 63,505,413,000,000 20,498,950,000,000 8 GJTL 2016 626,561,000,000 1,293,214,000,000 17,509,505,000,000 9,130,997,000,000 9 GDST 2016 31,704,557,018 87,280,999,316 1,183,934,183,257 753,802,085,246 10 HDTX 2016 (393,567,637,000) 404,043,778,000 4,878,367,904,000 3,893,899,237,000 11 INDF 2016 5,266,906,000,000 7,175,603,000,000 91,831,526,000,000 25,701,913,000,000 12 INDS 2016 49,556,367,334 193,436,286,326 2,553,928,346,219 1,361,197,258,506 13 JPRS 2016 (19,268,949,081) 409,779,231 363,265,042,157 11,249,057,076 14 KAEF 2016 271,597,947,663 198,050,928,789 3,434,879,313,034 1,006,745,257,089 15 KBLM 2016 21,245,022,916 33,243,538,568 654,385,717,061 244,138,597,496 16 KDSI 2016 47,127,349,067 85,536,484,701 1,177,093,668,866 387,738,747,365 17 LION 2016 42,345,417,055 53,300,060,257 639,330,150,373 120,394,121,583 18 LMPI 2016 6,933,035,457 17,977,995,613 793,093,512,600 261,611,696,096 19 LMSH 2016 6,252,814,811 6,871,373,245 133,782,751,041 61,896,024,068 20 NIKL 2016 33,680,708,866 185,138,230,187 1,560,928,461,464 347,089,707,951 21 NIPS 2016 65,683,137,000 13,476,751,000 1,547,720,090,000 681,451,421,000

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22 PRAS 2016 (2,690,964,318) 3,493,277,047 1,535,656,724,413 897,063,812,295 23 PSDN 2016 (36,662,178,272) 24,429,296,083 620,398,854,182 282,157,452,287

24 PYFA 2016 5,146,317,041 7,052,759,074 159,951,537,229 79,954,782,788 25 SSTM 2016 (14,582,624,323) 42,265,424,796 721,863,265,285 318,356,385,777 26 STTP 2016 174,176,717,866 166,186,126,054 1,919,568,037,170 1,133,722,474,056 27 SULI 2016 5,126,316,312 42,577,176,761 1,166,919,760,732 537,463,519,287 28 TBMS 2016 96,617,829,845 (186,803,379,244) 1,794,506,534,938 158,231,085,599 29 TPIA 2016 4,012,371,125,000 6,362,213,517,000 25,563,110,236,000 17,603,550,536,000 30 TRST 2016 33,794,866,940 239,192,778,741 3,357,359,499,954 2,025,462,701,661 31 ULTJ 2016 709,825,635,742 779,108,645,836 3,539,995,910,248 1,042,072,476,333 32 ALMI 2015 (53,613,905,767) 1,749,582,272,593 3,217,113,857,871 792,208,520,867 33 ASII 2015 16,454,000,000,000 25,899,000,000,000 236,027,000,000,000 41,702,000,000,000 34 BRNA 2015 (7,159,572,000) 276,302,922,000 1,334,086,016,000 1,202,090,420,000 35 BRPT 2015 69,755,532,000 1,105,615,574,000 28,783,751,688,000 21,787,499,416,000 36 BTON 2015 5,822,534,834 2,079,712,355 174,088,741,855 13,159,542,885 37 DPNS 2015 9,859,176,172 5,105,993,427 268,891,042,610 12,324,438,849 38 GGRM 2015 6,452,834,000,000 3,200,820,000,000 58,234,278,000,000 20,106,488,000,000 39 GJTL 2015 (313,326,000,000) 795,635,000,000 16,122,036,000,000 8,733,925,000,000

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40 GDST 2015 (55,212,703,852) (39,316,274,672) 1,357,932,144,522 711,868,978,631 41 HDTX 2015 (355,659,019,000) 87,534,937,000 4,224,585,356,000 4,104,638,615,000 42 INDF 2015 3,709,501,000,000 4,213,613,000,000 86,077,251,000,000 25,096,342,000,000 43 INDS 2015 1,933,819,152 110,641,662,962 2,282,666,078,493 1,447,374,645,310 44 JPRS 2015 (21,989,704,979) (4,506,620,797) 371,964,680,410 12,216,588,332 45 KAEF 2015 265,549,762,082 175,966,862,349 3,194,664,199,612 674,489,435,928 46 KBLM 2015 12,760,365,612 29,940,416,899 647,249,655,440 291,209,032,493 47 KDSI 2015 11,470,563,293 (41,864,462,623) 960,332,553,887 403,005,081,573 48 LION 2015 46,018,637,487 49,505,778,072 605,165,911,239 112,954,807,003 49 LMPI 2015 3,968,046,308 4,653,645,881 808,892,238,344 261,750,620,000 50 LMSH 2015 1,944,443,395 10,910,801,951 141,034,984,628 27,799,616,826

51 NIKL 2015 (82,500,054,370) 137,011,655,482 1,509,369,222,882 389,665,917,866 52 NIPS 2015 30,671,339,000 230,973,322,000 1,206,854,400,000 593,105,499,000 53 PRAS 2015 6,437,333,237 5,512,017,512 1,286,827,899,805 895,544,268,456 54 PSDN 2015 (42,619,829,577) (22,726,926,832) 622,508,294,824 287,327,682,169 55 PYFA 2015 3,087,104,465 15,699,910,434 172,557,400,461 84,152,132,186 56 SSTM 2015 (10,460,601,344) 29,295,185,872 773,663,346,934 343,663,190,339 57 STTP 2015

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185,705,201,171 194,843,122,728 1,700,204,093,895 1,006,244,781,146 58 SULI 2015 4,249,940,202 57,317,868,086 899,539,635,612 490,175,005,824 59 TBMS 2015 29,843,384,898 906,365,897,102 2,173,292,143,134 187,898,233,720 60 TPIA 2015 360,389,856,000 1,437,304,364,000 23,809,219,158,000 17,954,266,848,000 61 TRST 2015 25,314,103,403 135,020,261,491 3,261,285,495,052 2,101,159,762,436 62 ULTJ 2015 523,100,215,029 669,463,282,890 2,918,133,278,435 1,160,712,905,883 63 ALMI 2014 3,664,436,757 (935,671,862,182) 2,754,880,509,555 781,940,149,737 64 ASII 2014 22,157,000,000,000 14,963,000,000,000 213,994,000,000,000 41,250,000,000,000 65 BRNA 2014 56,972,147,000 198,105,603,000 1,125,375,706,000 719,368,856,000 66 BRPT 2014 (14,308,968,000) 704,852,832,000 28,149,900,576,000 17,796,333,342,000 67 BTON 2014 7,703,192,171 7,643,755,010 176,133,303,172 14,238,319,647 68 DPNS 2014 14,528,830,097 6,455,175,786 256,396,781,317 12,712,559,053 69 GGRM 2014 5,432,667,000,000 1,657,776,000,000 50,771,650,000,000 18,973,272,000,000 70 GJTL 2014 283,016,000,000 152,146,000,000 15,411,013,000,000 7,611,453,000,000 71 GDST 2014 (13,563,964,940) 220,244,499,811 1,193,605,251,621 677,473,284,056 72 HDTX 2014 (103,565,969,000) (115,537,033,000) 2,381,070,075,000 3,473,210,079,000 73 INDF 2014 5,229,489,000,000 9,269,318,000,000 77,777,940,000,000 21,982,095,000,000 74 INDS 2014 127,819,512,585 65,911,208,643 2,196,518,364,473 1,247,324,580,729 75 JPRS 2014 (6,680,363,456) (76,997,875,467) 377,252,869,839 13,100,716,324 76 KAEF 2014 257,836,015,297 286,309,255,381 2,514,724,243,714 561,615,304,370

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77 KBLM 2014 20,498,841,379 6,098,895,903 654,296,256,935 289,754,886,655 78 KDSI 2014 45,687,373,251 (24,155,490,938) 855,090,069,764 377,745,435,931

79 LION 2014 48,712,977,670 60,865,531,678 503,407,647,198 101,606,366,543 80 LMPI 2014 1,746,709,496 7,786,642,389 822,189,506,877 264,086,403,130 81 LMSH 2014 7,605,091,176 9,999,770,412 142,734,484,596 29,522,279,223 82 NIKL 2014 (84,808,225,962) (136,461,929,412) 1,514,334,983,264 264,509,789,544 83 NIPS 2014 49,741,721,000 (148,589,542,000) 798,407,625,000 450,149,169,000 84 PRAS 2014 11,340,527,608 11,556,006,425 795,630,254,209 705,792,134,066 85 PSDN 2014 (27,665,669,917) 21,202,281,251 682,404,037,795 294,074,971,399 86 PYFA 2014 2,661,022,001 1,472,541,371 175,048,620,682 91,716,051,981 87 SSTM 2014 (14,048,178,774) 39,556,169,947 801,866,397,035 373,976,560,649 88 STTP 2014 123,635,526,965 198,516,135,904 1,470,059,394,892 862,321,588,223 89 SULI 2014 2,534,432,634 34,761,050,754 940,139,759,360 404,339,748,000 90 TBMS 2014 53,291,176,692 84,076,364,334 2,052,813,356,320 193,288,943,694 91 TPIA 2014 228,237,942,000 1,438,286,466,000 23,133,408,064,000 14,157,399,390,000 92 TRST 2014 30,256,039,162 236,909,957,713 3,260,919,505,192 1,980,022,881,193 93 ULTJ 2014 283,061,430,451 128,022,639,236 2,812,056,096,621 1,003,229,206,363 94 ALMI 2013

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26,118,732,307 (705,788,130,271) 1,881,568,513,922 816,552,450,402 95 ASII 2013 23,708,000,000,000 21,250,000,000,000 182,274,000,000,000 37,862,000,000,000 96 BRNA 2013 (12,219,421,000) 103,086,504,000 770,383,930,000 639,297,618,000 97 BRPT 2013 (251,498,336,000) 1,158,005,696,000 20,403,075,742,000 15,617,929,024,000 98 BTON 2013 25,638,457,550 11,077,976,307 145,100,528,067 14,893,545,834 99 DPNS 2013 66,813,230,321 (660,730,802) 184,533,123,832 11,734,067,653 100 GGRM 2013 4,383,932,000,000 2,472,971,000,000 41,509,325,000,000 14,788,915,000,000 101 GJTL 2013 120,330,000,000 1,299,132,000,000 12,869,793,000,000 6,415,815,000,000 102 GDST 2013 91,885,687,801 192,924,779,196 1,163,971,056,842 309,819,502,723 103 HDTX 2013 (218,654,504,263) 393,683,433,691 1,362,546,557,862 962,535,680,000 104 INDF 2013 3,416,635,000,000 6,928,790,000,000 59,389,405,000,000 22,237,661,000,000 105 INDS 2013 147,608,449,013 255,755,973,870 1,664,779,358,215 1,061,634,892,140 106 JPRS 2013 15,045,492,572 78,622,516,794 398,606,524,648 14,145,731,382

107 KAEF 2013 215,642,329,977 253,783,664,733 2,076,347,580,785 498,644,378,133 108 KBLM 2013 7,678,095,359 (106,551,188,953) 722,941,339,245 299,487,271,006 109 KDSI 2013 36,002,772,194 85,343,533,207 570,564,051,755 342,883,472,236 110 LION 2013 64,761,350,816 52,556,704,619 433,497,042,140 60,440,970,754 111 LMPI 2013 (12,040,411,197) (28,721,183,892) 815,153,025,335 280,320,061,937

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112 LMSH 2013 14,382,899,194 13,814,790,256 128,547,715,366 23,305,792,882 113 NIKL 2013 3,371,584,000 (5,688,032,000) 1,064,347,152,000 290,979,536,128 114 NIPS 2013 33,872,112,000 (75,416,394,000) 524,693,874,000 256,657,122,000 115 PRAS 2013 13,196,638,424 10,729,054,393 577,349,886,068 446,146,197,508 116 PSDN 2013 21,322,248,834 81,549,809,650 682,611,125,989 275,646,225,705 117 PYFA 2013 6,195,800,338 (5,856,771,777) 135,849,510,061 97,554,474,825 118 SSTM 2013 (13,228,135,718) 83,498,266,987 810,275,583,968 385,911,640,643 119 STTP 2013 114,674,074,530 58,655,739,190 1,249,840,835,890 757,396,305,300 120 SULI 2013 (325,579,000,000) (183,639,000,000) 1,428,779,000,000 456,966,376,128 121 TBMS 2013 (53,918,820,064) (66,231,020,128) 1,900,471,635,142 203,932,174,464 122 TPIA 2013 133,771,840,000 1,865,807,904,000 16,233,420,530,000 11,977,127,680,000 123 TRST 2013 32,965,552,359 111,913,265,220 2,188,129,039,119 1,991,932,354,350 124 ULTJ 2013 325,127,420,664 195,989,263,645 2,420,793,382,029 965,974,994,305 125 ALMI 2012 13,949,141,063 (28,929,201,503) 1,862,965,962,554 684,845,820,627 126 ASII 2012 22,460,000,000,000 8,930,000,000,000 154,319,000,000,000 34,326,000,000,000 127 BRNA 2012 54,496,290,000 101,095,907,000 643,963,801,000 427,232,116,000 128 BRPT 2012 (1,189,231,090,000) 848,429,472,000 18,936,940,043,000 12,221,412,166,000 129 BTON 2012 24,654,012,986 25,855,526,275 118,715,558,433 14,720,052,295 130 DPNS 2012 20,608,530,035 6,530,804,861 172,297,512,571 10,841,508,178

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131 GGRM 2012 4,068,711,000,000 3,953,574,000,000 39,088,705,000,000 10,389,326,000,000 132 GJTL 2012 1,132,247,000,000 1,707,135,000,000 11,609,514,000,000 6,121,783,000,000 133 GDST 2012 46,591,042,719 370,214,801,681 977,462,676,010 320,878,076,916 134 HDTX 2012 3,102,049,511 48,588,918,886 1,013,575,088,112 684,299,237,905

135 INDF 2012 4,779,446,000,000 7,419,046,000,000 53,715,950,000,000 15,805,224,000,000 136 INDS 2012 134,068,283,255 110,147,042,438 1,139,715,256,754 756,098,496,460 137 JPRS 2012 9,610,155,243 (10,271,380,072) 437,848,660,950 15,424,557,778 138 KAEF 2012 205,763,997,378 230,612,654,491 1,794,399,675,018 449,140,317,883 139 KBLM 2012 23,833,078,478 (80,178,954,355) 642,954,768,386 289,798,194,867 140 KDSI 2012 36,837,060,793 50,465,006,251 587,566,985,478 171,839,026,968 141 LION 2012 85,373,721,654 66,606,219,113 365,815,749,593 30,423,508,490 142 LMPI 2012 2,340,674,019 (14,434,800,236) 685,895,619,326 274,266,729,051 143 LMSH 2012 41,282,515,026 10,558,729,023 98,019,132,648 23,737,007,239 144 NIKL 2012 (62,244,718,000) 62,225,474,000 918,099,273,000 250,537,636,000 145 NIPS 2012 21,610,141,000 21,562,505,000 446,668,457,381 213,871,776,000 146 PRAS 2012 15,565,386,865 47,968,405,047 580,959,607,200 352,671,019,053 147 PSDN 2012 25,623,404,271 10,746,296,476 421,366,403,319 283,052,836,745 148 PYFA 2012

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5,308,221,363 (448,715,089) 118,033,602,852 66,153,646,271 149 SSTM 2012 (14,137,186,803) 54,293,542,148 843,450,156,961 380,894,782,589 150 STTP 2012 74,626,183,474 24,460,960,446 934,765,927,864 651,321,554,715 151 SULI 2012 (150,684,000,000) (20,566,000,000) 1,695,019,360,412 724,785,000,000 152 TBMS 2012 25,547,593,506 71,695,253,960 1,476,784,782,459 176,390,119,120 153 TPIA 2012 (839,163,486,000) 1,404,638,804,000 14,481,211,206,000 9,350,977,126,000 154 TRST 2012 61,453,058,755 76,503,968,063 2,078,643,008,389 1,266,886,998,455 155 ULTJ 2012 353,431,619,485 500,334,201,664 2,180,516,519,057 979,511,601,619 156 ALMI 2011 54,783,500,573 211,886,388,964 1,559,149,832,849 630,003,800,704 157 ASII 2011 21,348,000,000,000 10,011,000,000,000 113,362,000,000,000 28,983,000,000,000 158 BRNA 2011 43,796,464,000 96,770,632,000 550,907,477,000 335,847,908,000 159 BRPT 2011 (122,803,030,000) (889,830,214,000) 15,944,214,258,000 11,084,087,798,000 160 BTON 2011 19,105,135,663 33,565,190,036 89,780,541,701 9,849,216,309 161 DPNS 2011 (6,641,710,478) 14,122,036,999 175,682,792,596 11,162,623,619 162 GGRM 2011 4,958,102,000,000 (90,307,000,000) 30,741,679,000,000 8,189,881,000,000

163 GJTL 2011 684,562,000,000 303,823,000,000 10,371,567,000,000 4,588,352,000,000 164 GDST 2011 99,674,949,180 20,585,967,602 1,074,569,612,752 277,271,280,147 165 HDTX 2011 17,285,049,940 8,016,053,554 1,017,613,013,155 502,092,188,459

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74

166 INDF 2011 4,891,673,000,000 4,976,035,000,000 47,378,254,000,000 12,941,630,000,000 167 INDS 2011 120,415,120,240 (26,255,543,773) 769,815,652,287 340,926,079,186 168 JPRS 2011 37,686,233,394 (36,795,304,974) 411,281,598,196 14,977,068,211 169 KAEF 2011 171,763,175,754 82,611,057,157 1,657,291,834,312 426,719,769,958 170 KBLM 2011 19,002,962,627 47,220,266,787 403,194,715,268 282,192,612,400 171 KDSI 2011 23,628,732,460 45,651,320,964 557,724,815,222 180,174,436,949 172 LION 2011 52,535,147,701 40,207,285,424 303,899,974,798 18,552,158,660 173 LMPI 2011 5,424,322,790 (3,527,598,887) 608,920,103,517 229,799,514,619 174 LMSH 2011 10,897,341,682 5,100,086,069 78,200,046,845 20,218,277,600 175 NIKL 2011 (14,617,260,000) 98,025,872,000 911,516,886,000 202,349,798,000 176 NIPS 2011 17,831,046,421 (44,903,715,248) 337,605,715,524 175,431,326,084 177 PRAS 2011 1,946,486,915 4,646,576,990 453,553,531,176 321,515,000,000 178 PSDN 2011 23,858,490,558 20,800,798,709 414,611,350,180 119,914,346,805 179 PYFA 2011 5,172,045,680 1,688,060,047 100,586,999,230 55,114,227,514 180 SSTM 2011 (24,097,995,553) 42,939,506,442 872,458,721,356 373,271,702,153 181 STTP 2011 42,675,154,847 89,728,684,467 649,273,975,548 579,812,502,191 182 SULI 2011 (314,850,544,330) 24,329,806,895 1,955,535,689,750 863,580,371,124 183 TBMS 2011 27,100,490,270 (150,744,905,997) 1,244,945,953,692 138,029,089,856 184 TPIA 2011 72,247,161,000 (38,428,957,000) 13,298,202,162,000 8,375,148,600,000

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75

185 TRST 2011 145,226,055,096 131,729,690,468 1,965,890,977,609 1,173,590,448,927 186 ULTJ 2011 128,449,344,052 322,963,103,223 2,006,958,011,535 1,069,735,963,102

Sumber : Bursa Efek Indonesia, 2011 – 2016

Tabel 2.2 SALES, SALESt-1, ΔSALES

NO KODE TAHUN SALES SALES t-1 ΔSALES

1 ALMI 2016 2,461,800,368,336 3,333,329,653,540 (871,529,285,204) 2 ASII 2016 181,084,000,000 184,196,000,000 (3,112,000,000) 3 BRNA 2016 1,364,849,405,000 1,278,353,442,000 86,495,963,000 4 BRPT 2016 26,220,713,283,000 19,300,663,914,000 6,920,049,369,000 5 BTON 2016 62,760,109,860 67,679,530,150 (4,919,420,290) 6 DPNS 2016 115,940,711,050 118,475,319,120 (2,534,608,070) 7 GGRM 2016 76,274,147,000,000 70,365,573,000,000 5,908,574,000,000 8 GJTL 2016 13,633,556,000,000 12,970,237,000,000 663,319,000,000 9 GDST 2016 757,282,528,180 913,792,626,540 (156,510,098,360) 10 HDTX 2016 1,647,106,585,000 1,401,541,455,000 245,565,130,000 11 INDF 2016 66,750,317,000,000 64,061,947,000,000 2,688,370,000,000 12 INDS 2016 1,637,036,790,119 1,659,505,639,261 (22,468,849,142) 13 JPRS 2016 120,691,469,840 143,326,451,256 (22,634,981,416)

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76

14 KAEF 2016 5,811,502,656,431 4,860,371,483,524 951,131,172,907 15 KBLM 2016 987,409,109,474 967,710,339,797 19,698,769,677 16 KDSI 2016 1,995,337,146,834 1,713,946,192,967 281,390,953,867 17 LION 2016 379,137,149,036 389,251,192,409 (10,114,043,373) 18 LMPI 2016 411,945,398,299 452,693,585,202 (40,748,186,903) 19 LMSH 2016 157,855,084,036 174,598,965,938 (16,743,881,902) 20 NIKL 2016 1,760,219,799,427 1,885,452,636,340 (125,232,836,913) 21 NIPS 2016 1,039,635,856,000 987,862,829,000 51,773,027,000 22 PRAS 2016 366,709,612,329 469,645,085,526 (102,935,473,197) 23 PSDN 2016 932,905,806,441 920,352,848,084 12,552,958,357 24 PYFA 2016 216,951,583,953 217,843,921,422 (892,337,469) 25 SSTM 2016 436,691,203,876 506,180,498,366 (69,489,294,490)

26 STTP 2016 2,629,107,367,897 2,544,277,844,656 84,829,523,241 27 SULI 2016 985,522,626,476 882,365,821,390 103,156,805,086 28 TBMS 2016 6,234,421,090,922 7,091,313,246,558 (856,892,155,636) 29 TPIA 2016 25,806,661,984,000 18,908,566,998,000 6,898,094,986,000 30 TRST 2016 2,249,418,846,803 2,457,349,444,991 (207,930,598,188)

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77

31 ULTJ 2016 4,685,987,917,355 4,393,932,684,171 292,055,233,184 32 ALMI 2015 3,333,329,653,540 3,336,087,554,837 (2,757,901,297) 33 ASII 2015 184,196,000,000,000 201,701,000,000,000 (17,505,000,000,000) 34 BRNA 2015 1,278,353,442,000 1,258,841,240,000 19,512,202,000 35 BRPT 2015 19,300,663,914,000 30,658,907,286,000 (11,358,243,372,000) 36 BTON 2015 67,679,530,150 96,008,496,750 (28,328,966,600) 37 DPNS 2015 118,475,319,120 132,775,925,127 (14,300,606,007) 38 GGRM 2015 70,365,573,000,000 65,185,850,000,000 5,179,723,000,000 39 GJTL 2015 12,970,237,000,000 13,070,734,000,000 (100,497,000,000) 40 GDST 2015 913,792,626,540 1,215,611,781,842 (301,819,155,302) 41 HDTX 2015 1,401,541,455,000 1,175,464,357,000 226,077,098,000 42 INDF 2015 64,061,947,000,000 63,594,452,000,000 467,495,000,000 43 INDS 2015 1,659,505,639,261 1,866,977,260,105 (207,471,620,844) 44 JPRS 2015 143,326,451,256 313,636,426,234 (170,309,974,978) 45 KAEF 2015 4,860,371,483,524 4,521,024,379,760 339,347,103,764 46 KBLM 2015 967,710,339,797 919,537,870,594 48,172,469,203 47 KDSI 2015 1,713,946,192,967 1,626,232,662,544 87,713,530,423 48 LION 2015 389,251,192,409 377,622,622,150 11,628,570,259 49 LMPI 2015 452,693,585,202 513,547,309,970 (60,853,724,768)

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78

50 LMSH 2015 174,598,965,938 249,072,012,369 (74,473,046,431) 51 NIKL 2015 1,885,452,636,340 2,016,568,838,814 (131,116,202,474)

52 NIPS 2015 987,862,829,000 1,015,868,035,000 (28,005,206,000) 53 PRAS 2015 469,645,085,526 445,664,542,004 23,980,543,522 54 PSDN 2015 920,352,848,084 975,081,057,089 (54,728,209,005) 55 PYFA 2015 217,843,921,422 222,302,407,528 (4,458,486,106) 56 SSTM 2015 506,180,498,366 519,854,661,831 (13,674,163,465) 57 STTP 2015 2,544,277,844,656 2,170,464,194,350 373,813,650,306 58 SULI 2015 882,365,821,390 552,248,480,472 330,117,340,918 59 TBMS 2015 7,091,313,246,558 7,548,700,611,126 (457,387,364,568) 60 TPIA 2015 18,908,566,998,000 30,450,511,278,000 (11,541,944,280,000) 61 TRST 2015 2,457,349,444,991 2,507,884,797,367 (50,535,352,376) 62 ULTJ 2015 4,393,932,684,171 3,916,789,366,423 477,143,317,748 63 ALMI 2014 3,336,087,554,837 2,871,313,447,075 464,774,107,762 64 ASII 2014 201,701,000,000,000 193,880,000,000,000 7,821,000,000,000 65 BRNA 2014 1,258,841,240,000 960,999,965,000 297,841,275,000 66 BRPT 2014 30,658,907,286,000 30,550,383,488,000 108,523,798,000

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79

67 BTON 2014 96,008,496,750 113,547,870,414 (17,539,373,664) 68 DPNS 2014 132,775,925,127 131,333,196,189 1,442,728,938 69 GGRM 2014 65,185,850,000,000 55,436,954,000,000 9,748,896,000,000 70 GJTL 2014 13,070,734,000,000 12,352,917,000,000 717,817,000,000 71 GDST 2014 1,215,611,781,842 1,410,117,393,010 (194,505,611,168) 72 HDTX 2014 1,175,464,357,000 1,057,343,006,058 118,121,350,942 73 INDF 2014 63,594,452,000,000 55,623,657,000,000 7,970,795,000,000 74 INDS 2014 1,866,977,260,105 1,702,447,098,851 164,530,161,254 75 JPRS 2014 313,636,426,234 195,247,201,170 118,389,225,064 76 KAEF 2014 4,521,024,379,760 4,348,073,988,385 172,950,391,375 77 KBLM 2014 919,537,870,594 1,032,787,438,869 (113,249,568,275)

78 KDSI 2014 1,626,232,662,544 1,386,314,584,485 239,918,078,059 79 LION 2014 377,622,622,150 333,674,349,966 43,948,272,184 80 LMPI 2014 513,547,309,970 676,111,070,762 (162,563,760,792) 81 LMSH 2014 249,072,012,369 256,210,760,822 (7,138,748,453) 82 NIKL 2014 2,016,568,838,814 2,091,607,008,000 (75,038,169,186) 83 NIPS 2014 1,015,868,035,000 911,064,069,000 104,803,966,000

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80

84 PRAS 2014 445,664,542,004 316,174,631,298 129,489,910,706 85 PSDN 2014 975,081,057,089 1,279,553,071,584 (304,472,014,495) 86 PYFA 2014 222,302,407,528 192,555,731,180 29,746,676,348 87 SSTM 2014 519,854,661,831 573,748,747,725 (53,894,085,894) 88 STTP 2014 2,170,464,194,350 1,694,935,468,814 475,528,725,536 89 SULI 2014 552,248,480,472 177,698,000,000 374,550,480,472 90 TBMS 2014 7,548,700,611,126 7,689,883,645,856 (141,183,034,730) 91 TPIA 2014 30,450,511,278,000 30,397,788,992,000 52,722,286,000 92 TRST 2014 2,507,884,797,367 2,033,149,367,039 474,735,430,328 93 ULTJ 2014 3,916,789,366,423 3,460,231,249,075 456,558,117,348 94 ALMI 2013 2,871,313,447,075 3,221,635,031,146 (350,321,584,071) 95 ASII 2013 193,880,000,000,000 188,053,000,000,000 5,827,000,000,000 96 BRNA 2013 960,999,965,000 836,986,463,000 124,013,502,000 97 BRPT 2013 30,550,383,488,000 22,082,711,306,000 8,467,672,182,000 98 BTON 2013 113,547,870,414 155,005,683,770 (41,457,813,356) 99 DPNS 2013 131,333,196,189 146,690,966,909 (15,357,770,720) 100 GGRM 2013 55,436,954,000,000 49,028,696,000,000 6,408,258,000,000 101 GJTL 2013 12,352,917,000,000 12,578,596,000,000 (225,679,000,000) 102 GDST 2013 1,410,117,393,010 1,647,928,004,308 (237,810,611,298)

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81

103 HDTX 2013 1,057,343,006,058 861,164,216,195 196,178,789,863

104 INDF 2013 55,623,657,000,000 50,201,548,000,000 5,422,109,000,000 105 INDS 2013 1,702,447,098,851 1,476,987,701,603 225,459,397,248 106 JPRS 2013 195,247,201,170 461,125,284,696 (265,878,083,526) 107 KAEF 2013 4,348,073,988,385 3,734,241,101,309 613,832,887,076 108 KBLM 2013 1,032,787,438,869 1,020,197,078,016 12,590,360,853 109 KDSI 2013 1,386,314,584,485 1,301,332,627,213 84,981,957,272 110 LION 2013 333,674,349,966 333,921,950,207 (247,600,241) 111 LMPI 2013 676,111,070,762 598,259,974,490 77,851,096,272 112 LMSH 2013 256,210,760,822 223,079,062,667 33,131,698,155 113 NIKL 2013 2,091,607,008,000 1,361,994,100,000 729,612,908,000 114 NIPS 2013 911,064,069,000 702,719,255,456 208,344,813,544 115 PRAS 2013 316,174,631,298 310,224,018,731 5,950,612,567 116 PSDN 2013 1,279,553,071,584 1,305,116,747,447 (25,563,675,863) 117 PYFA 2013 192,555,731,180 176,730,979,672 15,824,751,508 118 SSTM 2013 573,748,747,725 554,471,435,919 19,277,311,806 119 STTP 2013 1,694,935,468,814 1,283,736,251,902 411,199,216,912

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82

120 SULI 2013 177,698,000,000 303,056,401,434 (125,358,401,434) 121 TBMS 2013 7,689,883,645,856 6,664,129,047,374 1,025,754,598,482 122 TPIA 2013 30,397,788,992,000 21,987,790,276,000 8,409,998,716,000 123 TRST 2013 2,033,149,367,039 1,949,153,201,410 83,996,165,629 124 ULTJ 2013 3,460,231,249,075 2,809,851,307,439 650,379,941,636 125 ALMI 2012 3,221,635,031,146 3,605,496,083,362 (383,861,052,216) 126 ASII 2012 188,053,000,000,000 162,564,000,000,000 25,489,000,000,000 127 BRNA 2012 836,986,463,000 679,335,305,000 157,651,158,000 128 BRPT 2012 22,082,711,306,000 19,915,168,588,000 2,167,542,718,000 129 BTON 2012 155,005,683,770 153,646,138,180 1,359,545,590 130 DPNS 2012 146,690,966,909 161,413,570,091 (14,722,603,182)

131 GGRM 2012 49,028,696,000,000 41,884,352,000,000 7,144,344,000,000 132 GJTL 2012 12,578,596,000,000 11,841,396,000,000 737,200,000,000 133 GDST 2012 1,647,928,004,308 2,093,544,754,762 (445,616,750,454) 134 HDTX 2012 861,164,216,195 1,016,881,448,518 (155,717,232,323) 135 INDF 2012 50,201,548,000,000 45,768,144,000,000 4,433,404,000,000 136 INDS 2012 1,476,987,701,603 1,234,986,291,420 242,001,410,183 137 JPRS 2012 461,125,284,696 641,375,013,671 (180,249,728,975)

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83

138 KAEF 2012 3,734,241,101,309 3,481,166,441,259 253,074,660,050 139 KBLM 2012 1,020,197,078,016 864,752,600,095 155,444,477,921 140 KDSI 2012 1,301,332,627,213 1,180,506,128,191 120,826,499,022 141 LION 2012 333,921,950,207 268,414,285,432 65,507,664,775 142 LMPI 2012 598,259,974,490 502,186,982,451 96,072,992,039 143 LMSH 2012 223,079,062,667 207,522,581,381 15,556,481,286 144 NIKL 2012 1,361,994,100,000 1,304,500,225,000 57,493,875,000 145 NIPS 2012 702,719,255,456 579,224,436,320 123,494,819,136 146 PRAS 2012 310,224,018,731 330,446,667,706 (20,222,648,975) 147 PSDN 2012 1,305,116,747,447 1,246,290,753,836 58,825,993,611 148 PYFA 2012 176,730,979,672 151,094,461,045 25,636,518,627 149 SSTM 2012 554,471,435,919 403,181,559,300 151,289,876,619 150 STTP 2012 1,283,736,251,902 1,027,683,999,319 256,052,252,583 151 SULI 2012 303,056,401,434 408,172,154,092 (105,115,752,658) 152 TBMS 2012 6,664,129,047,374 6,245,357,487,411 418,771,559,963 153 TPIA 2012 21,987,790,276,000 19,827,898,132,000 2,159,892,144,000 154 TRST 2012 1,949,153,201,410 2,025,867,019,342 (76,713,817,932) 155 ULTJ 2012 2,809,851,307,439 2,102,383,741,532 707,467,565,907 156 ALMI 2011 3,605,496,083,362 3,019,070,482,536 586,425,600,826

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84

157 ASII 2011 162,564,000,000,000 129,038,000,000,000 33,526,000,000,000 158 BRNA 2011 679,335,305,000 568,328,198,000 111,007,107,000

159 BRPT 2011 19,915,168,588,000 16,965,228,000,000 2,949,940,588,000 160 BTON 2011 153,646,138,180 127,918,509,530 25,727,628,650 161 DPNS 2011 161,413,570,091 97,283,942,857 64,129,627,234 162 GGRM 2011 41,884,352,000,000 37,691,997,000,000 4,192,355,000,000 163 GJTL 2011 11,841,396,000,000 9,853,904,000,000 1,987,492,000,000 164 GDST 2011 2,093,544,754,762 1,710,131,747,278 383,413,007,484 165 HDTX 2011 1,016,881,448,518 661,992,384,716 354,889,063,802 166 INDF 2011 45,768,144,000,000 38,403,360,000,000 7,364,784,000,000 167 INDS 2011 1,234,986,291,420 1,027,120,388,110 207,865,903,310 168 JPRS 2011 641,375,013,671 427,792,535,324 213,582,478,347 169 KAEF 2011 3,481,166,441,259 3,183,829,303,909 297,337,137,350 170 KBLM 2011 864,752,600,095 542,618,175,974 322,134,424,121 171 KDSI 2011 1,180,506,128,191 1,123,050,137,949 57,455,990,242 172 LION 2011 268,414,285,432 207,832,622,837 60,581,662,595 173 LMPI 2011 502,186,982,451 401,594,186,536 100,592,795,915 174 LMSH 2011 207,522,581,381 161,011,674,412 46,510,906,969

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85

175 NIKL 2011 1,304,500,225,000 1,361,898,489,000 (57,398,264,000) 176 NIPS 2011 579,224,436,320 400,894,525,220 178,329,911,100 177 PRAS 2011 330,446,667,706 287,200,306,413 43,246,361,293 178 PSDN 2011 1,246,290,753,836 928,526,978,567 317,763,775,269 179 PYFA 2011 151,094,461,045 140,858,442,443 10,236,018,602 180 SSTM 2011 403,181,559,300 446,624,926,710 (43,443,367,410) 181 STTP 2011 1,027,683,999,319 762,612,830,093 265,071,169,226 182 SULI 2011 408,172,154,092 592,237,585,904 (184,065,431,812) 183 TBMS 2011 6,245,357,487,411 4,275,538,434,054 1,969,819,053,357 184 TPIA 2011 19,827,898,132,000 16,623,188,820,000 3,204,709,312,000 185 TRST 2011 2,025,867,019,342 1,745,510,962,548 280,356,056,794 186 ULTJ 2011 2,102,383,741,532 1,880,411,473,916 221,972,267,616

Sumber : Bursa Efek Indonesia, 2011 – 2016.

Tabel 2.3 TOT. REC, TOT. RECt-1, ΔTOT REC

NO KODE TAHUN TOT.REC TOT.REC t-1 ΔTOT REC

1 ALMI 2016 87,093,190,871 96,009,966,353 (8,916,775,482) 2 ASII 2016 18,946,000,000 18,088,000,000 858,000,000 3 BRNA 2016 298,868,206,000 240,231,544,000 58,636,662,000 4 BRPT 2016 1,891,753,607,000 726,709,344,000 1,165,044,263,000 5 BTON 2016 7,364,106,377 8,422,549,863 (1,058,443,486)

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86

6 DPNS 2016 10,276,286,000 13,617,649,620 (3,341,363,620) 7 GGRM 2016 2,089,949,000,000 1,568,098,000,000 521,851,000,000 8 GJTL 2016 3,136,246,000,000 2,411,399,000,000 724,847,000,000 9 GDST 2016 89,453,546,278 118,600,025,773 (29,146,479,495) 10 HDTX 2016 156,422,015,000 138,240,675,000 18,181,340,000 11 INDF 2016 4,616,846,000,000 4,255,814,000,000 361,032,000,000 12 INDS 2016 296,007,139,375 311,321,676,826 (15,314,537,451) 13 JPRS 2016 152,111,221,542 158,501,932,987 (6,390,711,445) 14 KAEF 2016 710,031,996,055 555,352,208,059 154,679,787,996 15 KBLM 2016 125,811,633,199 188,382,157,321 (62,570,524,122) 16 KDSI 2016 366,702,067,522 331,594,826,930 35,107,240,592 17 LION 2016 107,757,594,823 94,307,316,712 13,450,278,111 18 LMPI 2016 259,804,167,760 241,723,792,912 18,080,374,848 19 LMSH 2016 19,348,826,694 20,876,982,285 (1,528,155,591) 20 NIKL 2016 510,038,005,093 526,860,252,682 (16,822,247,589) 21 NIPS 2016 321,825,198,000 320,245,088,000 1,580,110,000 22 PRAS 2016 58,078,054,851 58,529,352,855 (451,298,004) 23 PSDN 2016 64,745,242,474 45,024,629,144 19,720,613,330 24 PYFA 2016 38,716,265,872 30,245,569,598 8,470,696,274

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87

25 SSTM 2016 49,306,630,395 50,696,651,192 (1,390,020,797) 26 STTP 2016 361,142,451,690 289,000,051,239 72,142,400,451

27 SULI 2016 46,686,486,505 53,757,000,536 (7,070,514,031) 28 TBMS 2016 937,705,069,095 709,732,244,818 227,972,824,277 29 TPIA 2016 1,836,205,412,000 638,204,096,000 1,198,001,316,000 30 TRST 2016 408,872,965,447 428,081,416,006 (19,208,450,559) 31 ULTJ 2016 462,422,864,328 448,129,204,430 14,293,659,898 32 ALMI 2015 96,009,966,353 157,242,707,899 (61,232,741,546) 33 ASII 2015 18,088,000,000,000 21,332,000,000,000 (3,244,000,000,000) 34 BRNA 2015 240,231,544,000 226,734,015,000 13,497,529,000 35 BRPT 2015 726,709,344,000 1,254,101,826,000 (527,392,482,000) 36 BTON 2015 8,422,549,863 9,317,662,847 (895,112,984) 37 DPNS 2015 13,617,649,620 13,123,911,989 493,737,631 38 GGRM 2015 1,568,098,000,000 1,532,275,000,000 35,823,000,000 39 GJTL 2015 2,411,399,000,000 2,068,574,000,000 342,825,000,000 40 GDST 2015 118,600,025,773 123,727,140,038 (5,127,114,265) 41 HDTX 2015 138,240,675,000 121,395,688,000 16,844,987,000 42 INDF 2015

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88

4,255,814,000,000 3,555,067,000,000 700,747,000,000 43 INDS 2015 311,321,676,826 339,238,666,166 (27,916,989,340) 44 JPRS 2015 158,501,932,987 159,411,872,894 (909,939,907) 45 KAEF 2015 555,352,208,059 514,930,240,224 40,421,967,835 46 KBLM 2015 188,382,157,321 217,551,157,518 (29,169,000,197) 47 KDSI 2015 331,594,826,930 296,104,466,395 35,490,360,535 48 LION 2015 94,307,316,712 79,221,770,890 15,085,545,822 49 LMPI 2015 241,723,792,912 249,978,404,590 (8,254,611,678) 50 LMSH 2015 20,876,982,285 24,106,193,844 (3,229,211,559) 51 NIKL 2015 526,860,252,682 527,595,366,408 (735,113,726) 52 NIPS 2015 320,245,088,000 323,849,077,000 (3,603,989,000) 53 PRAS 2015 58,529,352,855 96,765,430,412 (38,236,077,557)

54 PSDN 2015 45,024,629,144 88,127,207,810 (43,102,578,666) 55 PYFA 2015 30,245,569,598 39,596,938,982 (9,351,369,384) 56 SSTM 2015 50,696,651,192 47,878,615,385 2,818,035,807 57 STTP 2015 289,000,051,239 259,526,887,337 29,473,163,902 58 SULI 2015 53,757,000,536 32,504,590,866 21,252,409,670 59 TBMS 2015 709,732,244,818 1,047,458,802,738 (337,726,557,920)

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89

60 TPIA 2015 638,204,096,000 1,237,911,402,000 (599,707,306,000) 61 TRST 2015 428,081,416,006 484,265,476,751 (56,184,060,745) 62 ULTJ 2015 448,129,204,430 395,101,722,940 53,027,481,490 63 ALMI 2014 157,242,707,899 150,231,038,537 7,011,669,362 64 ASII 2014 21,332,000,000,000 19,843,000,000,000 1,489,000,000,000 65 BRNA 2014 226,734,015,000 158,115,180,000 68,618,835,000 66 BRPT 2014 1,254,101,826,000 2,208,460,288,000 (954,358,462,000) 67 BTON 2014 9,317,662,847 10,853,173,217 (1,535,510,370) 68 DPNS 2014 13,123,911,989 15,090,426,809 (1,966,514,820) 69 GGRM 2014 1,532,275,000,000 2,196,086,000,000 (663,811,000,000) 70 GJTL 2014 2,068,574,000,000 2,077,769,000,000 (9,195,000,000) 71 GDST 2014 123,727,140,038 141,979,420,614 (18,252,280,576) 72 HDTX 2014 121,395,688,000 158,430,981,000 (37,035,293,000) 73 INDF 2014 3,555,067,000,000 4,736,631,000,000 (1,181,564,000,000) 74 INDS 2014 339,238,666,166 309,563,107,747 29,675,558,419 75 JPRS 2014 159,411,872,894 84,866,827,313 74,545,045,581 76 KAEF 2014 514,930,240,224 546,576,423,955 (31,646,183,731) 77 KBLM 2014 217,551,157,518 214,289,622,785 3,261,534,733 78 KDSI 2014 296,104,466,395 236,586,529,881 59,517,936,514

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90

79 LION 2014 79,221,770,890 60,832,254,547 18,389,516,343 80 LMPI 2014 249,978,404,590 228,519,632,552 21,458,772,038

81 LMSH 2014 24,106,193,844 24,299,962,987 (193,769,143) 82 NIKL 2014 527,595,366,408 465,081,099,648 62,514,266,760 83 NIPS 2014 323,849,077,000 255,206,554,000 68,642,523,000 84 PRAS 2014 96,765,430,412 58,836,142,975 37,929,287,437 85 PSDN 2014 88,127,207,810 70,797,524,184 17,329,683,626 86 PYFA 2014 39,596,938,982 30,273,751,470 9,323,187,512 87 SSTM 2014 47,878,615,385 62,217,400,707 (14,338,785,322) 88 STTP 2014 259,526,887,337 217,472,413,620 42,054,473,717 89 SULI 2014 32,504,590,866 31,652,709,536 851,881,330 90 TBMS 2014 1,047,458,802,738 1,089,473,715,328 (42,014,912,590) 91 TPIA 2014 1,237,911,402,000 2,197,690,624,000 (959,779,222,000) 92 TRST 2014 484,265,476,751 475,666,875,311 8,598,601,440 93 ULTJ 2014 395,101,722,940 368,549,136,075 26,552,586,865 94 ALMI 2013 150,231,038,537 216,854,018,198 (66,622,979,661) 95 ASII 2013 19,843,000,000,000 16,443,000,000,000 3,400,000,000,000 96 BRNA 2013

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91

158,115,180,000 137,090,866,000 21,024,314,000 97 BRPT 2013 2,208,460,288,000 1,491,823,746,000 716,636,542,000 98 BTON 2013 10,853,173,217 14,361,470,534 (3,508,297,317) 99 DPNS 2013 15,090,426,809 16,472,501,171 (1,382,074,362) 100 GGRM 2013 2,196,086,000,000 1,382,539,000,000 813,547,000,000 101 GJTL 2013 2,077,769,000,000 1,960,521,000,000 117,248,000,000 102 GDST 2013 141,979,420,614 175,819,267,097 (33,839,846,483) 103 HDTX 2013 158,430,981,000 168,498,123,332 (10,067,142,332) 104 INDF 2013 4,736,631,000,000 3,036,825,000,000 1,699,806,000,000 105 INDS 2013 309,563,107,747 239,653,643,789 69,909,463,958 106 JPRS 2013 84,866,827,313 179,057,816,065 (94,190,988,752) 107 KAEF 2013 546,576,423,955 458,728,515,249 87,847,908,706

108 KBLM 2013 214,289,622,785 242,447,482,081 (28,157,859,296) 109 KDSI 2013 236,586,529,881 209,573,827,233 27,012,702,648 110 LION 2013 60,832,254,547 62,452,027,446 (1,619,772,899) 111 LMPI 2013 228,519,632,552 201,861,759,567 26,657,872,985 112 LMSH 2013 24,299,962,987 28,241,866,692 (3,941,903,705) 113 NIKL 2013 465,081,099,648 298,984,406,000 166,096,693,648

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92

114 NIPS 2013 255,206,554,000 159,318,768,000 95,887,786,000 115 PRAS 2013 58,836,142,975 54,040,856,306 4,795,286,669 116 PSDN 2013 70,797,524,184 65,212,886,316 5,584,637,868 117 PYFA 2013 30,273,751,470 30,568,281,713 (294,530,243) 118 SSTM 2013 62,217,400,707 37,269,957,428 24,947,443,279 119 STTP 2013 217,472,413,620 184,127,594,068 33,344,819,552 120 SULI 2013 31,652,709,536 17,966,000,000 13,686,709,536 121 TBMS 2013 1,089,473,715,328 908,895,072,578 180,578,642,750 122 TPIA 2013 2,197,690,624,000 1,486,493,158,000 711,197,466,000 123 TRST 2013 475,666,875,311 338,909,501,422 136,757,373,889 124 ULTJ 2013 368,549,136,075 297,400,522,080 71,148,613,995 125 ALMI 2012 216,854,018,198 230,737,288,413 (13,883,270,215) 126 ASII 2012 16,443,000,000,000 14,526,000,000,000 1,917,000,000,000 127 BRNA 2012 137,090,866,000 139,921,278,000 (2,830,412,000) 128 BRPT 2012 1,491,823,746,000 1,195,484,339,000 296,339,407,000 129 BTON 2012 14,361,470,534 18,850,237,220 (4,488,766,686) 130 DPNS 2012 16,472,501,171 20,599,222,694 (4,126,721,523) 131 GGRM 2012 1,382,539,000,000 923,522,000,000 459,017,000,000 132 GJTL 2012 1,960,521,000,000 1,598,803,000,000 361,718,000,000

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93

133 GDST 2012 175,819,267,097 114,577,569,707 61,241,697,390 134 HDTX 2012 168,498,123,332 107,411,403,105 61,086,720,227 135 INDF 2012 3,036,825,000,000 2,995,502,000,000 41,323,000,000

136 INDS 2012 239,653,643,789 225,910,266,042 13,743,377,747 137 JPRS 2012 179,057,816,065 191,576,166,603 (12,518,350,538) 138 KAEF 2012 458,728,515,249 384,036,845,128 74,691,670,121 139 KBLM 2012 242,447,482,081 183,026,892,062 59,420,590,019 140 KDSI 2012 209,573,827,233 187,050,703,701 22,523,123,532 141 LION 2012 62,452,027,446 36,227,550,428 26,224,477,018 142 LMPI 2012 201,861,759,567 166,227,898,071 35,633,861,496 143 LMSH 2012 28,241,866,692 27,648,764,831 593,101,861 144 NIKL 2012 298,984,406,000 219,520,567,000 79,463,839,000 145 NIPS 2012 159,318,768,000 136,036,197,499 23,282,570,501 146 PRAS 2012 54,040,856,306 90,398,864,481 (36,358,008,175) 147 PSDN 2012 65,212,886,316 58,180,433,978 7,032,452,338 148 PYFA 2012 30,568,281,713 24,057,783,179 6,510,498,534 149 SSTM 2012 37,269,957,428 76,131,609,438 (38,861,652,010) 150 STTP 2012

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94

184,127,594,068 113,929,853,227 70,197,740,841 151 SULI 2012 17,966,000,000 18,336,504,095 (370,504,095) 152 TBMS 2012 908,895,072,578 1,001,095,082,750 (92,200,010,172) 153 TPIA 2012 1,486,493,158,000 1,192,236,059,000 294,257,099,000 154 TRST 2012 338,909,501,422 345,004,309,209 (6,094,807,787) 155 ULTJ 2012 297,400,522,080 255,494,585,569 41,905,936,511 156 ALMI 2011 230,737,288,413 136,908,426,856 93,828,861,557 157 ASII 2011 14,526,000,000,000 9,391,000,000,000 5,135,000,000,000 158 BRNA 2011 139,921,278,000 136,491,258,000 3,430,020,000 159 BRPT 2011 1,195,484,339,000 1,015,335,216,000 180,149,123,000 160 BTON 2011 18,850,237,220 13,634,089,158 5,216,148,062 161 DPNS 2011 20,599,222,694 16,312,318,618 4,286,904,076 162 GGRM 2011 923,522,000,000 903,739,000,000 19,783,000,000 163 GJTL 2011 1,598,803,000,000 1,297,944,000,000 300,859,000,000

164 GDST 2011 114,577,569,707 89,918,675,022 24,658,894,685 165 HDTX 2011 107,411,403,105 63,107,549,593 44,303,853,512 166 INDF 2011 2,995,502,000,000 2,448,742,000,000 546,760,000,000 167 INDS 2011 225,910,266,042 164,660,906,048 61,249,359,994

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95

168 JPRS 2011 191,576,166,603 93,613,470,295 97,962,696,308 169 KAEF 2011 384,036,845,128 357,711,599,224 26,325,245,904 170 KBLM 2011 183,026,892,062 105,787,446,987 77,239,445,075 171 KDSI 2011 187,050,703,701 162,684,566,880 24,366,136,821 172 LION 2011 36,227,550,428 33,086,423,326 3,141,127,102 173 LMPI 2011 166,227,898,071 134,980,125,305 31,247,772,766 174 LMSH 2011 27,648,764,831 17,520,758,610 10,128,006,221 175 NIKL 2011 219,520,567,000 206,258,976,000 13,261,591,000 176 NIPS 2011 136,036,197,499 99,943,845,628 36,092,351,871 177 PRAS 2011 90,398,864,481 68,513,119,772 21,885,744,709 178 PSDN 2011 58,180,433,978 67,895,346,778 (9,714,912,800) 179 PYFA 2011 24,057,783,179 20,587,473,955 3,470,309,224 180 SSTM 2011 76,131,609,438 218,372,673,849 (142,241,064,411) 181 STTP 2011 113,929,853,227 112,411,508,138 1,518,345,089 182 SULI 2011 18,336,504,095 18,063,979,938 272,524,157 183 TBMS 2011 1,001,095,082,750 739,402,940,178 261,692,142,572 184 TPIA 2011 1,192,236,059,000 1,008,750,960,000 183,485,099,000 185 TRST 2011 345,004,309,209 355,365,077,179 (10,360,767,970) 186 ULTJ 2011 255,494,585,569 190,914,744,160 64,579,841,409

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96 Tabel 2.4 TAC, TAC/Tat-1, 1/TAt-1, ΔSALES / TA t-1, PPE / TA t-1, (ΔSALES - ΔTOT

REC) / TA t-1

NO KODE TAHUN TAC = NI - CFO

TAC / TA t-1 1/TA t-1 ΔSALES / TA t-1 PPE / TA t-1 (ΔSALES - ΔTOT REC) / TA t-1 1 ALMI 2016 (149,121,962,042) (0.06812) 0.0000000000004568 (0.39813) 0.32066 (0.39406) 2 ASII 2016 397,000,000 0.00162 0.0000000000040744 (0.01268) 0.17616 (0.01618) 3 BRNA 2016 (77,542,141,000) (0.04259) 0.0000000000005492 0.04750 0.65731 0.01530 4 BRPT 2016 (2,095,216,418,000) (0.06775) 0.0000000000000323 0.22376 0.68506 0.18609 5 BTON 2016 (3,777,159,417) (0.02063) 0.0000000000054610 (0.02687) 0.06490 (0.02108) 6 DPNS 2016 (4,118,523,559) (0.01500) 0.0000000000036432 (0.00923) 0.04346 0.00294 7 GGRM 2016 (264,968,000,000) (0.00417) 0.0000000000000157 0.09304 0.32279 0.08482 8 GJTL 2016 (666,653,000,000) (0.03807) 0.0000000000000571 0.03788 0.52149 (0.00351) 9 GDST 2016 (55,576,442,298) (0.04694) 0.0000000000008446 (0.13219) 0.63669 (0.10758) 10 HDTX 2016 (797,611,415,000) (0.16350) 0.0000000000002050 0.05034 0.79820 0.04661 11 INDF 2016 (1,908,697,000,000) (0.02078) 0.0000000000000109 0.02928 0.27988 0.02534 12 INDS 2016 (143,879,918,992) (0.05634) 0.0000000000003916 (0.00880) 0.53298 (0.00280) 13 JPRS 2016 (19,678,728,312) (0.05417) 0.0000000000027528 (0.06231) 0.03097 (0.04472) 14 KAEF 2016 0.0000000000002911

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97

73,547,018,874 0.02141 0.27690 0.29309 0.23187 15 KBLM 2016 (11,998,515,652) (0.01834) 0.0000000000015282 0.03010 0.37308 0.12572 16 KDSI 2016 (38,409,135,634) (0.03263) 0.0000000000008496 0.23906 0.32940 0.20923 17 LION 2016 (10,954,643,202) (0.01713) 0.0000000000015641 (0.01582) 0.18831 (0.03686) 18 LMPI 2016 (11,044,960,156) (0.01393) 0.0000000000012609 (0.05138) 0.32986 (0.07418) 19 LMSH 2016 (618,558,434) (0.00462) 0.0000000000074748 (0.12516) 0.46266 (0.11373) 20 NIKL 2016 (151,457,521,321) (0.09703) 0.0000000000006406 (0.08023) 0.22236 (0.06945) 21 NIPS 2016 52,206,386,000 0.03373 0.0000000000006461 0.03345 0.44029 0.03243 22 PRAS 2016 (6,184,241,365) (0.00403) 0.0000000000006512 (0.06703) 0.58416 (0.06674) 23 PSDN 2016 (61,091,474,355) (0.09847) 0.0000000000016119 0.02023 0.45480 (0.01155) 24 PYFA 2016 (1,906,442,033) (0.01192) 0.0000000000062519 (0.00558) 0.49987 (0.05854)

NO KODE TAHUN TAC = NI - CFO

TAC / TA t-1 1/TA t-1 ΔSALES / TA t-1 PPE / TA t-1 (ΔSALES - ΔTOT REC) / TA t-1 25 SSTM 2016 (56,848,049,119) (0.07875) 0.0000000000013853 (0.09626) 0.44102 (0.09434) 26 STTP 2016 7,990,591,812 0.00416 0.0000000000005210 0.04419 0.59061 0.00661 27 SULI 2016 (37,450,860,449) (0.03209) 0.0000000000008570 0.08840 0.46058 0.09446 28 TBMS 2016 283,421,209,089 0.15794 0.0000000000005573 (0.47751) 0.08818 (0.60455) 29 TPIA 2016 (2,349,842,392,000) (0.09192) 0.0000000000000391 0.26985 0.68863 0.22298 30 TRST 2016 (205,397,911,801) (0.06118) 0.0000000000002979 (0.06193) 0.60329 (0.05621)

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98

31 ULTJ 2016 (69,283,010,094) (0.01957) 0.0000000000002825 0.08250 0.29437 0.07846 32 ALMI 2015 (1,803,196,178,360) (0.56050) 0.0000000000003108 (0.00086) 0.24625 0.01818 33 ASII 2015 (9,445,000,000,000) (0.04002) 0.0000000000000042 (0.07417) 0.17668 (0.06042) 34 BRNA 2015 (283,462,494,000) (0.21248) 0.0000000000007496 0.01463 0.90106 0.00451 35 BRPT 2015 (1,035,860,042,000) (0.03599) 0.0000000000000347 (0.39461) 0.75694 (0.37628) 36 BTON 2015 3,742,822,479 0.02150 0.0000000000057442 (0.16273) 0.07559 (0.15759) 37 DPNS 2015 4,753,182,745 0.01768 0.0000000000037190 (0.05318) 0.04583 (0.05502) 38 GGRM 2015 3,252,014,000,000 0.05584 0.0000000000000172 0.08895 0.34527 0.08833 39 GJTL 2015 (1,108,961,000,000) (0.06879) 0.0000000000000620 (0.00623) 0.54174 (0.02750) 40 GDST 2015 (15,896,429,180) (0.01171) 0.0000000000007364 (0.22226) 0.52423 (0.21849) 41 HDTX 2015 (443,193,956,000) (0.10491) 0.0000000000002367 0.05351 0.97161 0.04953 42 INDF 2015 (504,112,000,000) (0.00586) 0.0000000000000116 0.00543 0.29156 (0.00271) 43 INDS 2015 (108,707,843,810) (0.04762) 0.0000000000004381 (0.09089) 0.63407 (0.07866) 44 JPRS 2015 (17,483,084,182) (0.04700) 0.0000000000026884 (0.45787) 0.03284 (0.45542) 45 KAEF 2015 89,582,899,733 0.02804 0.0000000000003130 0.10622 0.21113 0.09357 46 KBLM 2015 (17,180,051,287) (0.02654) 0.0000000000015450 0.07443 0.44992 0.11949 47 KDSI 2015 53,335,025,916 0.05554 0.0000000000010413 0.09134 0.41965 0.05438 48 LION 2015 (3,487,140,585) (0.00576) 0.0000000000016524 0.01922 0.18665 (0.00571) 49 LMPI 2015 (685,599,573) (0.00085) 0.0000000000012363 (0.07523) 0.32359 (0.06503)