THE IMPACT OF LIQUIDITY RATIO, SOLVENCY, AND PROFITABILITY  ON THE FINANCIAL PERFORMANCE OF PT. PANJI ANUGERAH  SENTOSA MEDAN DURING 2022-2024

Muhammad Dimas Alfahri; Toni Hidayat; Rukmini; Muhammad Dani Habra

doi:10.54443/jaruda.v4i1.256

Authors

Muhammad Dimas Alfahri Universitas Muslim Nusantara Al-Washliyah
Toni Hidayat Universitas Muslim Nusantara Al Washliyah
Rukmini Universitas Muslim Nusantara Al Washliyah
Muhammad Dani Habra Universitas Muslim Nusantara Al Washliyah

DOI:

https://doi.org/10.54443/jaruda.v4i1.256

Keywords:

liquidity, solvency, profitability, financial performance

Abstract

This study aims to analyze the influence of liquidity, solvability, and profitability on the financial performance of PT. Panji Anugerah Sentosa Medan during the 2022–2024 period. The research employed a quantitative approach using secondary data in the form of financial statements, with a total sampling technique. The analytical methods used include classical assumption tests (normality, multicollinearity, and heteroscedasticity), multiple linear regression, F-test (simultaneous), t-test (partial), and the coefficient of determination (R²). The normality test results indicated that the residuals were normally distributed (Asymp. Sig. = 0.200 > 0.05), the multicollinearity test showed no correlation among the independent variables (VIF < 10), and the heteroscedasticity test confirmed that the model was free from heteroscedasticity issues (Sig. > 0.05). The F-test yielded an F value of 13.203 > F table 2.891 with a significance level of p = 0.000, indicating that liquidity, solvability, and profitability simultaneously have a significant effect on financial performance. Partially, the t-test results showed that liquidity had a significant negative effect on financial performance (|-2.625| > 2.3452 and Sig. = 0.013 < 0.05), profitability had a significant positive effect (3.396 > 2.3452 and Sig. = 0.002 < 0.05), while solvability had no significant effect (0.035 < 2.3452 and Sig. = 0.972 > 0.05). The adjusted coefficient of determination (Adjusted R²) was 0.511, indicating that 51.1% of the variation in financial performance is explained by the three independent variables.

References

Affi, F., & As’ari, H. (2023). Pengaruh Profitabilitas, Solvabilitas Dan Likuiditas Terhadap Kinerja Keuangan Perusahaan. Jurnal Kewirausahaan, Akuntansi Dan Manajemen Tri Bisnis, 5(1), 77–86. https://doi.org/10.59806/tribisnis.v5i1.246

F.A, S. M. . & A. (2024). Pengaruh Likuiditas, Solvabilitas dan Aktivitas Terhadap Profitabilitas Pada Perusahaan Sub Sektor Otomotif dan Komponen Yang Terdaftar di Bursa Efek Indonesia …. 2(9), 304–316. http://repository.unusa.ac.id/4784/

Hidayat, T., Malik, A., Siregar, D. A., & Munawaroh, M. (2021). the Effect of Liquidity, Net Interest Margin and Good Corporate Governance Risk on Sharia Banking Financial Performance. European Journal of Economic and Financial Research, 4(4), 189–196. https://doi.org/10.46827/ejefr.v4i4.1044

Huang, W., Ranaldo, A., Schrimpf, A., & Somogyi, F. (2023). Constrained Liquidity Provision in Currency Markets. J.E.L. Classification: F31, 12(1073), 15. https://doi.org/10.1016/j.jfineco.2025.104028

Irawan, R., Suherman, E., & Hidayati, D. E. (2022). Analysis Of Liquidity Ratio, Solvency, Activity And Profitability In Assessing Financial Performance At Pt. Indofood Cbp Success Makmur Tbk. International Journal of Applied Finance and Business Studies, 10(2), 92–103.

Kasmir. (2019). Pengantar Manajemen Keuangan Kasmir 2019.

Lie, C., Wardani, R. P., & Pikir, T. W. (2016). Pengaruh Likuiditas, Profitabilitas, dan Solvabilitas terhadap OpiniAudit Going Concern pada Perusahaan Manufaktur yang Terdaftardi Bursa Efek Indonesia Tahun 2019-2021. Berkala Akuntansi Dan Keuangan Indonesia, 1(2), 84–105.

Nur utami, C., & Widati, L. W. (2022). Pengaruh Profitabilitas, Likuiditas dan Kepemilikan Manajerial terhadap Nilai Perusahaan. Owner, 6(1), 885–893. https://doi.org/10.33395/owner.v6i1.682

Permana, I. S., Halim, R. C., Nenti, S., & Zein, R. N. (2022). Analisis Kinerja Keuangan Dengan Menggunakan Rasio Likuiditas, Solvabilitas Dan Profitabilitas Pada PT. Bank BNI (Persero), TBK. Jurnal Aktiva : Riset Akuntansi Dan Keuangan, 3(3), 132–139. https://doi.org/10.52005/aktiva.v3i3.102

Rima, H. T., Anjeli, N. M., Salsabila, N. H., & Kiky, N. E. (2024). Issn : 3025-9495. 11(6).

Sampurnaningsih, S. R., & Supardi, Y. (2025). Evaluasi Kinerja Keuangan Perusahaan melalui Tingkat Profitabilitas , Market Value Added dan Economic Value Added pada PT Indofood , Tbk. 8(1), 9–14.

Sembiring, L. D. (2021). Analisis Laporan Keuangan.

Senna, A. L., & de Araujo Moxotó, A. C. (2025). Carbon emissions and financial performance in the Brazilian stock market. Journal of Environmental Management, 377(July 2024). https://doi.org/10.1016/j.jenvman.2025.124698

Sugiyono. (2019). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. CV.Alfabeta.

Sugiyono, D. (2013). Metode Penelitian Kuantitatif, Kualitatif, dan Tindakan.

Wijayanti, R. I. (2023). Daftar Perusahaan Manufaktur yang Terdaftar di BEI 2023. IDX Channel. https://www.idxchannel.com/market-news/deretan-perusahaan-manufaktur-yang-terdaftar-di-bei-2023/all