Prediksi Kebangkrutan Model Altman Z”-Score, Grover, Springate, Dan Zmijewski Pada Perusahaan Tekstil Dan Garmen Di Bursa Efek Indonesia

(1)

LAMPIRAN 1

Sampel Penelitian Perusahaan Tekstil dan Garmen di

Bursa Efek Indonesia Periode 2009-2013

No.

Kode

Perusahaan

Nama Perusahaan

Kriteria

Memenuhi

Kriteria

1 2 3

1 ADMG

Polychem Indonesia Tbk

√

× Tidak

2 ARGO

Argo Pantes Tbk

√

3 CNTX

Centex

Tbk

√

4 ERTX

Eratex Djaya Tbk

√

5 ESTI

Ever Shine Textile Industry Tbk

√

6 HDTX

Pan Asia Indosyntec Tbk

√

7 INDR

Indo Rama Synthetic Tbk

√

× Tidak

8 KARW

Karwell Indonesia Tbk

×

Tidak

9 MYTX

Apac Citra Centertex Tbk

√

10 PAFI

Pan Asia Filament Inti Tbk

√

× Tidak

11 PBRX

Pan Brothers Tbk

√

× Tidak

12 POLY

Asia Pasific Fibers Tbk

√

13 RICY

Ricky

Putra

Globalindo

Tbk

√

√ × Tidak

14 SRIL

Sri Rejeki Isman Tbk.

×

Tidak

15 SSTM

Sunson Textile Manufacturer Tbk

√

× Tidak

16 TRIS

Trisula International Tbk

×

Tidak

17 UNIT

Nusantara Inti Corpora Tbk

√

× Tidak

(2)

Hasil Statistik PT Argo Pantes Tbk. (ARGO)

1. Altman Z”-score

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z”-score

2009 -0.0740 0.0000 -0.0670 0.1178 -0.8117

2010 -0.0888 0.0000 0.0408 0.1379 -0.1636

2011 -0.0719 0.0000 -0.1147 0.1243 -1.1123

2012 -0.0581 0.0000 -0.0801 0.1056 -0.8088

2013 -0.1294 0.0000 0.0259 0.0831 -0.5879

2. Grover

Tahun WC/TA EBIT/TA ROA Score

2009 -0.0740 -0.0670 -0.0518 -0.2939

2010 -0.0888 0.0408 -0.0875 0.0479

2011 -0.0719 -0.1147 -0.0821 -0.4535

2012 -0.0581 -0.0801 -0.0657 -0.3127

2013 -0.1294 0.0259 0.0349 -0.0679

3. Springate

Tahun WC/TA EBIT/TA EBIT/CL TS/TA S

2009 -0.0740 -0.0670 -0.3435 0.5167 -0.3019

2010 -0.0888 0.0408 0.1795 0.4651 0.3382

2011 -0.0719 -0.1147 -0.6049 0.4961 -0.6270

2012 -0.0581 -0.0801 -0.2911 0.5533 -0.2766

2013 -0.1294 0.0259 0.0651 0.5660 0.2155

4. Zmijewski

Tahun ROA DR CR Z

2009 -0.0518 0.9749 0.6208 1.5070

2010 -0.0875 0.8516 0.6091 0.9628

2011 -0.0821 0.7893 0.6207 0.5818

2012 -0.0657 0.8776 0.7888 1.0127

(3)

Hasil Statistik PT Centex Tbk. (CNTX)

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z”-score

2009 -0.1791 0.0000 -0.1371 0.5292 -1.5409

2010 -0.1402 0.0000 -0.0333 0.5598 -0.5561

2011 0.0240 0.0000 0.1036 0.6007 1.4844

2012 0.0052 0.0000 -0.1169 0.6366 -0.0831

2013 -0.4541 0.0000 -0.0037 0.6365 -2.3351

2. Grover

2009 -0.1791 -0.1371 -0.1371 -0.7075

2010 -0.1402 -0.0333 -0.0333 -0.2884

2011 0.0240 0.1036 0.1036 0.4509

2012 0.0052 -0.1169 -0.1169 -0.3342

2013 -0.4541 -0.0037 -0.0037 -0.7048

3. Springate

2009 -0.1791 -0.1371 -0.2812 0.7163 -0.5045

2010 -0.1402 -0.0333 -0.0708 0.7910 0.0229

2011 0.0240 0.1036 0.2599 1.1424 0.9713

2012 0.0052 -0.1169 -0.2938 0.9138 -0.1820

2013 -0.4541 -0.0037 -0.0041 1.0048 -0.0797

4. Zmijewski

2009 -0.1371 0.9115 0.6327 1.5099

2010 -0.0333 0.9371 0.7019 1.1884

2011 0.1036 0.8597 1.0602 0.1299

2012 -0.1169 0.9276 1.0131 1.5093

(4)

Hasil Statistik PT Eratex Djaya Tbk. (ERTX)

1. Altman Z”-Score

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z”-score

2009 -0.6852 0.0000 -0.2340 0.1919 -5.8658

2010 -0.8530 0.0000 -0.4280 0.1528 -8.3118

2011 -0.6877 -1.5361 0.5880 0.1528 -5.4074

2012 0.0155 0.0143 0.0088 0.1418 0.3563

2013 0.0029 0.0337 0.0197 0.2510 0.5252

2. Grover

Tahun WC/TA EBIT/TA EBIT/CL TS/TA S

2009 -0.6852 -0.2340 -0.1996 2.5273 -0.5450

2010 -0.8530 -0.4280 -0.2908 2.0213 -1.5760

2011 -0.6877 0.5880 0.4974 1.7933 2.1424

2012 0.0155 0.0088 0.0218 1.0787 0.4888

2013 0.0029 0.0197 0.0501 1.2507 0.5969

4. Zmijewski

Tahun ROA DR CR Z

2009 -0.2595 2.6172 0.4156 11.8367

2010 -0.4205 2.7881 0.4204 13.5386

2011 0.5714 2.2392 0.4182 5.9355

2012 0.0143 0.7994 1.0385 0.2043

(5)

Hasil Statistik PT Ever Shine Textile Industry Tbk. (ESTI)

2012 -0.0004 -0.0592 -0.0580 -0.1460

2013 -0.0807 -0.0901 -0.0906 -0.3844

3. Springate

2009 0.1524 0.0289 0.0728 1.0404 0.7099

2010 0.0913 0.0058 0.0117 1.0545 0.5414

2011 0.0664 0.0148 0.0386 0.9748 0.5294

2012 -0.0004 -0.0592 -0.1085 0.8284 0.0776

2013 -0.0807 -0.0901 -0.1530 0.6690 -0.1932

4. Zmijewski

2009 0.0148 0.5051 1.3837 -1.4933

2010 0.0025 0.5608 1.1854 -1.1199

2011 0.0096 0.5029 1.1733 -1.4815

2012 -0.0580 0.5455 0.9993 -0.9335

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Hasil Statistik PT Pan Asia Indosyntec Tbk. (HDTX)

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z”-Score

2009 -0.1122 -0.2216 0.0009 1.4130 0.0314

2010 -0.0457 -0.2369 0.0050 1.6454 0.6895

2011 -0.0044 -0.2187 0.0200 1.7092 1.1869

2012 -0.0237 -0.1583 0.0011 1.0541 0.4429

2013 -0.2321 -0.1812 -0.1258 0.4620 -2.4732

2. Grover

Tahun WC/TA EBIT/TA ROA Score

2009 -0.1122 0.0009 0.0005 -0.1250

2010 -0.0457 0.0050 0.0012 -0.0013

2011 -0.0044 0.0200 0.0171 0.1180

2012 -0.0237 0.0011 0.0023 0.0217

2013 -0.2321 -0.1258 -0.0919 -0.7556

3. Springate

2009 -0.1122 0.0009 0.0023 0.8603 0.2329

2010 -0.0457 0.0050 0.0168 0.6527 0.2405

2011 -0.0044 0.0200 0.0652 1.0033 0.5011

2012 -0.0237 0.0011 0.0034 0.6320 0.2341

2013 -0.2321 -0.1258 -0.2986 0.4445 -0.6444

4. Zmijewski

2009 0.0005 0.4977 0.7164 -1.4685

2010 0.0012 0.4591 0.8461 -1.6916

2011 0.0171 0.4423 0.9856 -1.8594

2012 0.0023 0.5335 0.9252 -1.2728

(7)

Hasil Statistik PT Apac Citra Centertex Tbk. (MYTX)

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z”-score 2009 -0.3185 -0.5616 -0.0129 0.4461 -3.5388

2010 -0.2680 -0.5916 -0.0987 0.4528 -3.8745

2011 -0.2835 -0.6280 -0.0766 0.4302 -3.9694

2012 -0.2317 -0.6729 -0.0865 0.4118 -3.8632

2013 -0.2660 -0.5895 -0.0108 0.3491 -3.3727

2. Grover

2009 -0.3185 -0.0129 0.0073 -0.5125

2010 -0.2680 -0.0987 -0.0537 -0.7220

2011 -0.2835 -0.0766 -0.0652 -0.6723

2012 -0.2317 -0.0865 -0.0700 -0.6211

2013 -0.2660 -0.0108 -0.0238 -0.4190

3. Springate

2009 -0.3185 -0.0129 -0.0239 0.8251 -0.0536

2010 -0.2680 -0.0987 -0.2085 0.9156 -0.3504

2011 -0.2835 -0.0766 -0.1446 1.0588 -0.1989

2012 -0.2317 -0.0865 -0.1853 0.8424 -0.2897

2013 -0.2660 -0.0108 -0.0211 0.9069 0.0417

4. Zmijewski

2009 0.0073 0.9543 0.4103 1.1049

2010 -0.0537 0.9005 0.4339 1.0726

2011 -0.0652 0.9655 0.4646 1.4948

2012 -0.0700 1.0338 0.5038 1.9054

(8)

Hasil Statistik PT Asia Pasific Fibers Tbk. (POLY)

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z-Score 2009 -2.0749 -3.4480 0.2438 0.1827 -23.0221

2010 -2.2807 -3.9588 0.0699 0.1919 -27.1955

2011 -1.9007 -3.6193 -0.0649 0.4772 -24.2028

2012 -2.3101 -5.1031 -0.1036 0.5293 -31.9306

2013 -2.5347 -5.9065 -0.1032 0.5381 -36.0113

2. Grover

2009 -2.0749 0.2438 0.0951 0.7684 -1.0187

2009 0.2588 2.7354 0.1902 10.1262

2010 0.0840 2.9838 0.1893 12.3289

2011 -0.0159 2.3887 0.1514 9.3863

2012 -0.0796 2.9785 0.2028 13.0351

(9)

Hasil Statistik PT Unitex Tbk. (UNTX)

Tahun WC/TA RE/TA EBIT/TA BVE/BVD Z"-score 2009 -1.3609 0.0000 0.2092 0.0286 -7.4918

2010 -1.4198 0.0000 -0.1677 0.0254 -10.4143

2011 -1.3668 0.0000 -0.0445 0.2498 -9.0025

2012 -1.5754 0.0000 -0.0718 0.2433 -10.5619

2013 -1.3666 0.0000 0.0904 0.2407 -8.1041

2. Grover

Tahun WC/TA EBIT/TA ROA Score

2009 -1.3609 0.2092 0.2136 -1.4731

2010 -1.4198 -0.1677 -0.1643 -2.8592

2011 -1.3668 -0.0445 -0.0413 -2.3502

2012 -1.5754 -0.0718 -0.0736 -2.7881

2013 -1.3666 0.0904 0.0906 -1.8885

3. Springate

Tahun WC/TA EBIT/TA EBIT/CL TS/TA S

2009 -1.3609 0.2092 0.1146 1.0134 -0.2786

2010 -1.4198 -0.1677 -0.0870 1.0695 -1.6069

2011 -1.3668 -0.0445 -0.0239 1.3252 -1.0300

2012 -1.5754 -0.0718 -0.0353 0.9130 -1.5013

2013 -1.3666 0.0904 0.0492 1.0654 -0.6712

4. Zmijewski

Tahun ROA DR CR Z

2009 0.2136 1.9625 0.2542 5.9240

2010 -0.1643 2.0628 0.2637 8.1960

2011 -0.0413 1.9914 0.2658 7.2356

2012 -0.0736 2.1690 0.2253 8.3933

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PERHITUNGAN PREDIKSI KEBANGKRUTAN MODEL ALTMAN

Z”-SCORE PADA PERUSAHAAN TEKSTIL DAN GARMEN DI BEI

Tahun Perusahaan WCTA RETA EBITA BVEBVD Z"-Score Kode Peringkat

2009 ARGO -0.0740 0.0000 -0.0670 0.1178 -0.8120 1 3

CNTX -0.1791 0.0000 -0.1371 0.5292 -1.5405 1 3

ERTX -0.6852 0.0000 -0.2340 0.1919 -5.8659 1 3

ESTI 0.1524 0.0251 0.0289 0.7690 2.0832 1 2

HDTX -0.1122 -0.2216 0.0009 1.4130 0.0313 1 3

MYTX -0.3185 -0.5616 -0.0129 0.4461 -3.5385 1 3

POLY -2.0749 -3.4480 0.2438 0.1827 -23.0217 1 3

CNTX 0.0240 0.0000 0.1036 0.6007 1.4844 1 2

ERTX -0.6877 -1.5361 0.5880 0.1528 -5.4072 1 3

ESTI 0.0664 0.0000 0.0148 0.5300 1.0915 1 3

HDTX -0.0044 -0.2187 0.0200 1.7092 1.1872 1 2

MYTX -0.2835 -0.6280 -0.0766 0.4302 -3.9701 1 3

POLY -1.9007 -3.6193 -0.0649 0.4772 -24.2026 1 3

UNTX -1.3668 0.0000 -0.0445 0.2498 -9.0030 1 3

(11)

PERHITUNGAN PREDIKSI KEBANGKRUTAN MODEL GROVER

PADA PERUSAHAAN TEKSTIL DAN GARMEN DI BEI

Tahun Perusahaan WCTA EBITA ROA Score Kode Peringkat

2009 ARGO -0.0740 -0.0670 -0.0518 -0.2940 2 3

CNTX 0.0240 0.1036 0.1036 0.4509 2 1

(12)

PERHITUNGAN PREDIKSI KEBANGKRUTAN MODEL SPRINGATE

PADA PERUSAHAAN TEKSTIL DAN GARMEN DI BEI

Tahun Perusahaan WCTA EBITA EBITCL TSTA S Kode Peringkat

2009 ARGO -0.0740 -0.0670 -0.3435 0.5167 -0.3019 3 3

CNTX -0.1791 -0.1371 -0.2812 0.7163 -0.5044 3 3

ERTX -0.6852 -0.2340 -0.1996 2.5273 -0.5450 3 3

ESTI 0.1524 0.0289 0.0728 1.0404 0.7099 3 3

HDTX -0.1122 0.0009 0.0023 0.8603 0.2328 3 3

MYTX -0.3185 -0.0129 -0.0239 0.8251 -0.0534 3 3

POLY -2.0749 0.2438 0.0951 0.7684 -1.0186 3 3

CNTX 0.0240 0.1036 0.2599 1.1424 0.9713 3 2

ERTX -0.6877 0.5880 0.4974 1.7933 2.1424 3 1

ESTI 0.0664 0.0148 0.0386 0.9748 0.5292 3 3

HDTX -0.0044 0.0200 0.0652 1.0033 0.5012 3 3

MYTX -0.2835 -0.0766 -0.1446 1.0588 -0.1991 3 3

POLY -1.9007 -0.0649 -0.0290 1.1405 -1.7199 3 3

UNTX -1.3668 -0.0445 -0.0239 1.3252 -1.0301 3 3

(13)

PERHITUNGAN PREDIKSI KEBANGKRUTAN MODEL ZMIJEWSKI

PADA PERUSAHAAN TEKSTIL DAN GARMEN DI BEI

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Hasil Uji Kruskal_Wallis H

NPar Tests

Kruskal-Wallis Test

Ranks

Metode N Mean Rank

Peringkat Altman 40 86.00

Grover 40 72.38

Springate 40 89.19

Zmijewski 40 74.44

Total 160

Test Statisticsa,b

Peringkat

Chi-Square 9.777

df 3

Asymp. Sig. .021

a. Kruskal Wallis Test