LIQUIDITY AND PROFITABILITY ANALYSIS OF PT GUDANG GARAM TBK FOR THE PERIOD (2022-2024)
Keywords:
liquidity and profitabilityAbstract
This study aims to analyze the liquidity and profitability levels of PT Gudang Garam Tbk (GGRM) from 2022 to 2024. This study is motivated by financial fluctuations due to excise tax pressures and market dynamics. This study uses secondary quantitative data from the company's financial reports, analyzed descriptively using financial ratios: Current Ratio (CR), Return on Assets (ROA), and Return on Equity (ROE). The analysis results show that liquidity is in a very strong position with CR jumping to 2.29 times in 2024 from 1.90 times in 2022 and 1.85 times in 2023. However, the profitability ratio experienced a significant decline; ROA dropped to 1.16% in 2024 from 5.76% in 2023 and 3.14% in 2022. ROE also experienced a decline, falling to 1.60% in 2024 from 4.80% in 2022 and 8.74% in 2023. This finding concludes that (GGRM) is in a highly liquid condition but is experiencing profitability difficulties. The main recommendation is for management to review the current ratio of 2.29 times, which is considerably high as it indicates idle cash or unproductive inventory, and to immediately allocate the excess working capital to investments that generate higher returns.
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