Transcript analisis rasio

Rasio profitabilitas terdiri dari
dua jenis rasio yang
menunjukkan laba dalam
hubungannya dengan:
 penjualan
 investasi.
1
Jenis- jenis rasio Profitabilitas
(menurut Munawir):
Profit margin (profit margin on sales)
Hasil Pengembalian Investasi (Return on
investment)
Hasil Pengembalian Ekuitas (Return on
Equity/ROE)
 rentabilitas ekonomi
Laba Per Lembar Saham Biasa (Earning per
Share of Common Stock)
2
Profit Margin
1. Gross Profit Margin
Gross Profit Margin = Gross Profit
Sales
X 100%
Seberapa efektif perusahaan dalam menghasilkan
laba kotor dari setiap rupiah penjualannya?
3
Neraca
LMT Trustco
Ilustrasi :
Cash
175 Accounts Payable
115
Accounts Receivable 430 S-T Notes Payable
115
Inventories
625 Current Liabilities
230
Current Assets
1,230 Bonds
600
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
300
Net Fixed Assets
1,300 Capital in Excess of Par 600
Total Assets
2,530 Retained Earnings
800
Total Owners’ Equity 1,700
Laporan Laba/Rugi
Total Liabilities and
LMT Trustco
Owners Equity 2,530
Sales
1,450
Cost of Goods Sold
875
Gross Profit
575
Operating Expenses
45
Depreciation
200
Net Operating Income
330
Gross
Interest Expense
60
Income Before Taxes
270
Profit
= Gross Profit X 100%
Sales
Taxes (40%)
108
Margin
Net Income
162
Common Dividends Paid
100
575_
Addition to Retained Earnings 62
4
Gross Profit Margin =
= 39.7%
1,450
2. Operating Profit Margin
Operating Profit Margin = Operating Income X 100%
Sales
Seberapa efektif perusahaan dalam menghasilkan laba
operasi dari setiap rupiah penjualannya?
5
Neraca
LMT Trustco
Ilustrasi :
Cash
175 Accounts Payable
115
Accounts Receivable 430 S-T Notes Payable
115
Inventories
625 Current Liabilities
230
Current Assets
1,230 Long-term Debt
600
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
300
Net Fixed Assets
1,300 Capital in Excess of Par 600
Total Assets
2,530 Retained Earnings
800
Total Owners’ Equity 1,700
Laporan Laba/Rugi
Total Liabilities and
LMT Trustco
Owners Equity 2,530
Sales
1,450
Cost of Goods Sold
875
Gross Profit
575
Operating Expenses
45
Depreciation
200
Operating Income
330
Operating
Interest Expense
60
Income Before Taxes
270
Profit
= Operating Income X 100%
Taxes (40%)
108
Sales
Margin
Net Income
162
Common Dividends Paid
100
330_
OPM
=
= 22.8%6
Addition to Retained Earnings 62
1,450
3. Net Profit Margin
Net Profit Margin =
Net Income X 100%
Sales
Seberapa besar laba bersih yang dihasilkan dari
setiap rupiah penjualannya?
7
Neraca
LMT Trustco
Assets
Liabilities
Cash
175 Accounts Payable
115
Accounts Receivable 430 S-T Notes Payable
115
Inventories
625 Current Liabilities
230
Current Assets
1,230 Long-term Debt
600
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
300
Net Fixed Assets
1,300 Capital in Excess of Par 600
Total Assets
2,530 Retained Earnings
800
Total Owners’ Equity 1,700
Laporan Laba/Rugi
Total Liabilities and
LMT Trustco
Owners Equity 2,530
Sales
1,450
Cost of Goods Sold
875
Gross Profit
575
Operating Expenses
45
Depreciation
200
Net
Net Income
Operating Income
330
Profit
=
X 100%
Sales
Interest Expense
60
Margin
Income Before Taxes
270
Taxes (40%)
108
162_
Net Income
162
Net Profit Margin =
= 11.2%
Common Dividends Paid
100
1,450
Addition to Retained Earnings 62
8
Return on investment
ROI =
Net Income X 100%
Total investasi(asset)
Seberapa efektif perusahaan menghasilkan laba bersih
dari aktiva yang digunakannya?
9
Neraca
LMT Trustco
Assets
Liabilities
Cash
175 Accounts Payable
115
Accounts Receivable 430 S-T Notes Payable
115
Inventories
625 Current Liabilities
230
Current Assets
1,230 Long-term debt
600
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
300
Net Fixed Assets
1,300 Capital in Excess of Par 600
Total Assets
2,530 Retained Earnings
800
Total Owners’ Equity 1,700
Total Liabilities and
Laporan Laba/Rugi
Owners Equity 2,530
LMT Trustco
Sales
1,450
Cost of Goods Sold
875
Gross Profit
575
Operating Expenses
45
Net Income
=
ROI
X 100%
Depreciation
200
Total Assets
Operating Income
330
Interest Expense
60
Income Before Taxes
270
162_
Taxes (40)
108
= 6.4%
ROA =
Net Income%
162
2,530
Common Dividends Paid
100
10
Addition to Retained Earnings 62
Ilustrasi :
Return on Equity
Return on Equity =
Net Income X 100%
Common Equity
Seberapa baik perusahaan menghasilkan laba bersih
untuk pemegang ekuitas?
11
Neraca
LMT Trustco
Assets
Liabilities
Cash
175 Accounts Payable
115
Accounts Receivable 430 S-T Notes Payable
115
Inventories
625 Current Liabilities
230
Current Assets
1,230 Long-term Debt
600
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
300
Net Fixed Assets
1,300 Capital in Excess of Par 600
Total Assets
2,530 Retained Earnings
800
Total Owners’ Equity 1,700
Laporan Laba/Rugi
Total Liabilities and
LMT Trustco
Owners Equity 2,530
Sales
1,450
Cost of Goods Sold
875
Gross Profit
575
Operating Expenses
45
Depreciation
200
Operating Income
330
Net Income
Interest Expense
60
ROE=
Income Before Taxes
270
Common Equity X 100%
Taxes (40%)
108
Net Income
162
Common Dividends Paid
100
162_ = 9.53%
ROE =
Addition to Retained Earnings 62
12
Ilustrasi :
1,700
RENTABILITAS EKONOMI
RE =
EBIT
Total aktiva
X 100%
Seberapa efektif perusahaan menghasilkan laba bersih dari
aktiva yang digunakannya?
13
Neraca
LMT Trustco
Assets
Liabilities
Cash
175 Accounts Payable
115
Accounts Receivable 430 S-T Notes Payable
115
Inventories
625 Current Liabilities
230
Current Assets
1,230 Long-term debt
600
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
300
Net Fixed Assets
1,300 Capital in Excess of Par 600
Total Assets
2,530 Retained Earnings
800
Total Owners’ Equity 1,700
Total Liabilities and
Laporan Laba/Rugi
Owners Equity 2,530
LMT Trustco
Sales
1,450
Cost of Goods Sold
875
Gross Profit
575
EBIT
Operating Expenses
45
=
RE
Depreciation
200
Total Assets X 100%
Operating Income
330
Interest Expense
60
Income Before Taxes
270
330_
Taxes (40)
108
= 13,04%
RE =
Net Income%
162
2,530
Common Dividends Paid
100
14
Addition to Retained Earnings 62
Ilustrasi :
Rasio Nilai Pasar (Market value ratios)
Earning Per share /EPS
Laba Bersih
EPS = --------------------------- x 1 rupiah
Jumlah Lembar saham beredar
__________________________________________
__________________________________________
Neraca
LMT Trustco
Assets
Liabilities
Cash
175 Accounts Payable
Accounts Receivable 430 S-T Notes Payable
Inventories
625 Current Liabilities
Current Assets
1,230 Long-term Debt
Plant & Equipment
2,500 Owner’s Equity
Less:Acc. Depr.
(1,200) Common Stock
Net Fixed Assets
1,300 Capital in Excess of Par
Total Assets
2,530 Retained Earnings
Total Owners’ Equity 1,700
Laporan Laba/Rugi
LMT Trustco
Total Liabilities and
Sales
1,450 Owners Equity 2,530
Cost of Goods Sold
Gross Profit
Operating Expenses
Depreciation
Operating Income
Interest Expense
Income Before Taxes
Taxes (40)
Net Income
Common Dividends Paid
Addition to Retained Earnings
875
575
45
200
330
60
270
108
162
100
62
EPS(Laba /lbr saham)
EPS =
EPS =
115
115
230
600
300
600
800
Laba Bersih
Lbr Saham
Rp. 162
100 lbr
Rp.1,62
16