Analisis Peluang Gangguan Keuangan Pada Perusahaan Telekomunikasi Yang Terdaftar Di Bursa Efek Indonesia (BEI)

Financial distress is a process that shows the decline in financial position experienced by a company before the company falls into bankruptcy or is liquidated. Research purposes 1) To describe the forecast of financial distress in the Telecommunication Companies Listed On Indonesia Stock Exchange (IDX) using Altman Z- Score Method during 2009 – 2019. The study uses secondary data from the financial statements of telecommunications companies listed on the IDX, namely PT Telkom Indonesia (Persero) Tbk, PT XL Axiata Tbk, and PT Indosat Tbk from 2009 to 2019. The analytical method used is Altman Z-score Modification with Independent Variables, namely Working Capital To Total Assets (X1), Retained Earnings To Total Assets (X2), Earning Before Interest And Taxes To Total Assets (X3), and Market Value Of Equity To Book Value Of Liabilities (X4). Then the Dependent Variables, namely Financial distress (Y). The research results obtained 1) The Effect of Working Capital on Total Assets as measured by working capital and total assets; 2) Effect of Retained Earnings To Total Assets on Financial Distress; 3) Effect of Earning Before Interest And Taxes To Total Assets on Financial Distress; 4) Effect of Market Value Of Equity To Book Value Of Liabilities on Financial Distress.