Bankruptcy Analysis Using the Altman (Z-score) and Springate (S-score) Methods at PT Alkindo Naratama Tbk 2020 – 2022

Abstract

The purpose of this study is to forecast PT Alkindo Naratama Tbk's probable bankruptcy in 2020–2022 using the Altman (Z-score) and Springate (S-score) techniques. This study employs a quantitative descriptive methodology. In order to gather information for this study, library research techniques and financial report data from PT Alkindo Naratama Tbk for the years 2021–2022 were employed as sources of data. PT Alkindo Naratama Tbk is located in the vulnerable category in 2020 and 2021 according to the Altman approach, as shown by a Z value of 2.22 in 2020 and 2.35 in 2021. According to the company's 2022 Z value of 1.63, there is a significant risk that the business will file for bankruptcy. In 2020 and 2021, PT Alkindo Naratama Tbk has a S value of 1.17 and 1.31 in calculations made with the Springate method, indicating that the company is in a good state. The company's S value in 2022 is expected to be 0.77, indicating that it is either close to or at high risk of going bankrupt.