ANALISIS KINERJA KEUANGAN PERUSAHAAN YANG TERDAFTAR DI BURSA LQ45 SEBELUM, SELAMA, DAN SESUDAH PANDEMI COVID-19

Abstract

This study aims to analyze the financial performance of companies listed in the LQ45 index before, during, and after the COVID-19 pandemic. Financial performance is measured using five key ratios: Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Debt to Asset Ratio (DAR), and Current Ratio (CR). The data used were obtained from the annual financial reports of 45 companies over three periods: 2019 (pre-pandemic), 2020 (during the pandemic), and 2021 (post-pandemic). The analysis method employed is the Wilcoxon Signed Rank Test, as the data are not normally distributed, making it suitable for assessing differences between paired periods. The results indicate significant differences in profitability ratios (ROA, ROE, and NPM) across the three periods, particularly a decline during the pandemic followed by a recovery afterwards. Meanwhile, solvency (DAR) and liquidity (CR) ratios remained relatively stable without significant changes. These findings suggest that the pandemic had a notable impact on the profitability of LQ45 companies, but had less effect on their capital structure and liquidity. This research is expected to provide useful insights for investors, corporate management, and other stakeholders in evaluating company performance during crisis periods and economic recovery phases.

Keywords: Covid-19, financial performance, LQ45, liquidity, profitabiliy, solvabilty.