<mets:mets OBJID="eprint_20541" LABEL="Eprints Item" xsi:schemaLocation="http://www.loc.gov/METS/ http://www.loc.gov/standards/mets/mets.xsd http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-3.xsd" xmlns:mets="http://www.loc.gov/METS/" xmlns:mods="http://www.loc.gov/mods/v3" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance"><mets:metsHdr CREATEDATE="2026-08-08T14:59:09Z"><mets:agent ROLE="CUSTODIAN" TYPE="ORGANIZATION"><mets:name>Eprints Data</mets:name></mets:agent></mets:metsHdr><mets:dmdSec ID="DMD_eprint_20541_mods"><mets:mdWrap MDTYPE="MODS"><mets:xmlData><mods:titleInfo><mods:title>Analisis Financial Distress Menggunakan Metode Altman Z-Score Untuk Memprediksi Kebangkrutan Pada Perusahaan Manufaktur Sub Sektor Farmasi Periode 2019-2024</mods:title></mods:titleInfo><mods:name type="personal"><mods:namePart type="given">.</mods:namePart><mods:namePart type="family">KURNIAWAN</mods:namePart><mods:role><mods:roleTerm type="text">author</mods:roleTerm></mods:role></mods:name><mods:abstract>Penelitian ini bertujuan menganalisis kondisi financial distress dan memprediksi&#13;
potensi kebangkrutan tiga perusahaan farmasi yang terdaftar di Bursa Efek&#13;
Indonesia periode 2019-2024 menggunakan metode Altman Z-Score, yaitu PT&#13;
Indofarma Tbk, PT Pyridam Farma Tbk, dan PT Phapros Tbk. Latar belakang&#13;
penelitian adalah transformasi industri farmasi pasca-pandemi COVID-19 yang&#13;
menyebabkan kontraksi permintaan dan tekanan finansial pada perusahaan yang&#13;
mengalami kerugian bersih konsisten. Metode penelitian menggunakan pendekatan&#13;
kuantitatif deskriptif dengan menghitung empat rasio keuangan: Working Capital&#13;
to Total Assets (X1), Retained Earnings to Total Assets (X2), Earnings Before&#13;
Interest and Tax to Total Assets (X3), dan Market Value of Equity to Book Value&#13;
of Debt (X4), yang diintegrasikan dalam formula Z = 6,56(X1) + 3,26(X2) +&#13;
6,72(X3) + 1,05(X4). Hasil penelitian menunjukkan ketiga perusahaan mengalami&#13;
deteriorasi kesehatan finansial signifikan: PT Indofarma Tbk menurun konsisten&#13;
dari Grey Zone (2019) ke Distress Zone (2020-2024), PT Pyridam Farma Tbk&#13;
bertransformasi dari Safety Zone 9,17571 (2020) menjadi Distress Zone 0,70028&#13;
(2024), dan PT Phapros Tbk berfluktuasi antara Grey Zone dan Safety Zone (2019-&#13;
2023) sebelum turun ke Distress Zone 0,50305 (2024). Kesimpulan penelitian&#13;
adalah ketiga perusahaan menghadapi tantangan fundamental berupa krisis&#13;
likuiditas operasional, unprofitabilitas berkelanjutan, dan deteriorasi struktur&#13;
permodalan, sehingga memerlukan restrukturisasi komprehensif untuk&#13;
mengembalikan profitabilitas dan kesehatan finansial berkelanjutan.10</mods:abstract><mods:classification authority="lcc">HB Economic Theory</mods:classification><mods:originInfo><mods:dateIssued encoding="iso8061">2026</mods:dateIssued></mods:originInfo><mods:originInfo><mods:publisher>Universitas Pamulang;Fakultas Ekonomi dan Bisnis</mods:publisher></mods:originInfo><mods:genre>Thesis</mods:genre></mets:xmlData></mets:mdWrap></mets:dmdSec><mets:amdSec ID="TMD_eprint_20541"><mets:rightsMD ID="rights_eprint_20541_mods"><mets:mdWrap MDTYPE="MODS"><mets:xmlData><mods:useAndReproduction>
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