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Measuring The Financial Performance of Gudang Garam Using A Modified DuPont System Analysis = Measuring The Financial Performance of Gudang Garam Using A Modified DuPont System Analysis
The primary purpose of establishing a company is to make a profit. Therefore it is necessary to manage good financial performance to achieve optimal profit. Conversely, Gudang Garam experienced a significant decrease in profits, so research is needed to measure Gudang Garam's financial performance based on the Modified DuPont System Analysis. The model used is an applied quantitative descriptive with data from Gudang Garam's financial statements for 2018-2022. Based on the analysis results, Gudang Garam's ROE has decreased continuously during the research period until the last two years was below the average of similar industries. The EBIT Margin variable has the most significant effect on the decline, the cause of which is a decrease in sales and when an increase in sales does not match the increase in profit because a significant increase in excise rates causes the higher cost of goods sold, so it is concluded that Gudang Garam's financial performance has decreased.
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