Analisis Kinerja Keuangan Menggunakan Rasio Keuangan pada PT Gudang Garam Tbk Periode 2024-2025

Abstract

This research is conducted aiming to analyze the financial performance of PT Gudang Garam Tbk in the 2024-2025 period using a financial ratio analysis approach. The research method used is descriptive quantitative with secondary data in the form of audited consolidated annual financial statements. Financial performance is measured through liquidity, solvency, and profitability ratios. The findings of this study indicate a unique phenomenon where there was a significant increase in net profit by 58.9% in 2025 amidst a 9.4% decline in sales volume. This growth was driven by the success of the cost of goods sold efficiency strategy and operational cost management. The analysis also demonstrates that the liquidity ratio (CR) significantly improved from 2.28 times to 3.67 times, while the solvency ratio (DAR) decreased from 0.27 to 0.16 by the end of 2025. Furthermore, the liquidity analysis reveals a decrease in current assets that requires anticipation regarding substantial excise duty payables. This study provides a strategic overview for investors concerning the company's financial resilience amidst the challenges of cigarette excise policies.

Issue

Vol. 11 No. 2 (2026): Edisi Oktober