Analysis of Potential Bankruptcy using the ALTMAN Z-Score Method in Property & Real Estate Sector Companies Listed on the IDX in 2018

ABSTRACT : Altman Z-Score is a method used to analyze the potential bankruptcy of a company. Z-Score is claimed to be able to detect company bankruptcy with a high degree of accuracy and this method is also very widely used. Altman uses calculations through 5 financial ratios in the formula, namely Net Working Capital to Total Assets, Retained Earning to Total Assets, Earning Before Interest and Taxes to Total Assets, Market Value of Equity to Book Value of Debt and Sales to Total Assets. This research was conducted on 40 Property & Real Estate companies listed on the Indonesia Stock Exchange. The research method used in this research is descriptive. The results of the research that has been conducted on 40 companies are 27 companies with a crisis condition, 11 companies with a gray area condition and 2 companies with a healthy condition.
KEYWORDS: Altman Z-Score, Bankruptcy, Financial Statements, Indonesia Stock Exchange (IDX).