ANALISIS PREDIKSI FINANCIAL DISTRESS PADA PERUSAHAAN PT. XL AXIATA TBK. YANG TERDAFTAR DI INDEKS SAHAM SYARIAH INDONESIA (ISSI) 2020-2023

LIBRY OKTIA FENNIE; Sulia Sukmawati U; Ayu Oktoviasari Vera

LIBRY OKTIA FENNIE Institut Agama Islam Sultan Muhammad Syafiuddin
Sulia Sukmawati U Institut Agama Islam Sultan Muhammad Syafiuddin Sambas
Ayu Oktoviasari Vera Institut Agama Islam Sultan Muhammad Syafiuddin Sambas

Keywords: Financial Distress, Altman z-score, PT. XL Axiata

Abstract

This study aims to assess the financial condition and predict financial distress of PT. XL Axiata from 2020 to 2023 using a quantitative approach with descriptive statistics and the altman z”-score analysis technique.

Based on the results of the altman z-score calculation in predicting financial distress at PT.XL Axiata, it was found that the company has been in the grey zone almost every quater, where the z-score is < 2.99. The z-score in the first quarter of 2020 was 2.76, 2.94 in the second quarter, 3.09 in the third quarter, and 2.96 in the fourth quarter. In 2021, the z-score were 2.75 in the first quarter, 2.79 in the second quarter, 2.96 in the third, and 2.93 in the fourth quarter. In 2022, the z-score were 2.95 in the first quarter, 2.55 in the second quarter, 2.66 in the third quarter, and 2.93 in the fourth quarter. In 2023 the z-score were 2.77 in the first quarter, 2.7 in the second quarter, 2.82 in the third quarter and 3.15 in the fourth quarter. The company will be considered in a safe zone when the z-score is > 2.99, as seen in the third quarter of 2020 and the fourth quarter of 2023 with z-score < 2.99

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