Rasio profitabilitas terdiri dari dua jenis rasio yang
Rasio profitabilitas terdiri dari dua jenis rasio yang menunjukkan laba dalam hubungannya dengan: v penjualan v investasi. 1
Jenis- jenis rasio Profitabilitas (menurut Munawir): v Profit margin (profit margin on sales) v Hasil Pengembalian Investasi (Return on investment) v Hasil Pengembalian Ekuitas (Return on Equity/ROE) v rentabilitas ekonomi v Laba Per Lembar Saham Biasa (Earning per Share of Common Stock) 2
Profit Margin 1. Gross Profit Margin = Gross Profit Sales X 100% Seberapa efektif perusahaan dalam menghasilkan laba kotor dari setiap rupiah penjualannya? 3
Neraca LMT Trustco 175 Accounts Payable 115 430 S-T Notes Payable 115 625 Current Liabilities 230 1, 230 Bonds 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 Net Fixed Assets 1, 300 Capital in Excess of Par Laporan Laba/Rugi 600 LMT Trustco Total Assets 2, 530 Retained Earnings Sales 1, 450 800 Cost of Goods Sold 875 Total Owners’ Equity 1, 700 Gross Profit 575 Total Liabilities and Operating Expenses 45 Owners Equity 2, 530 Depreciation 200 Net Operating Income 330 Gross Interest Expense 60 Income Before Taxes 270 Profit = Gross Profit X 100% Sales Taxes (40%) 108 Margin Net Income 162 Common Dividends Paid 100 575_ Addition to Retained Earnings 62 4 Gross Profit Margin = = 39. 7% Ilustrasi : Cash Accounts Receivable Inventories Current Assets 1, 450
2. Operating Profit Margin = Operating Income X 100% Sales Seberapa efektif perusahaan dalam menghasilkan laba operasi dari setiap rupiah penjualannya? 5
Ilustrasi : Neraca LMT Trustco Cash Accounts Receivable Inventories Current Assets 175 Accounts Payable 115 430 S-T Notes Payable 115 625 Current Liabilities 230 1, 230 Long-term Debt 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 Net Fixed Assets 1, 300 Capital in Excess of Par Laporan Laba/Rugi 600 LMT Trustco Total Assets 2, 530 Retained Earnings Sales 1, 450 800 Cost of Goods Sold 875 Total Owners’ Equity 1, 700 Gross Profit 575 Total Liabilities and Operating Expenses 45 Owners Equity 2, 530 Depreciation 200 Operating Income 330 Operating Interest Expense 60 Income Before Taxes 270 Profit = Operating Income X 100% Taxes (40%) 108 Sales Margin Net Income 162 Common Dividends Paid 100 330_ OPM = = 22. 8%6 Addition to Retained Earnings 62 1, 450
3. Net Profit Margin Net Income X 100% Net Profit Margin = Sales Seberapa besar laba bersih yang dihasilkan dari setiap rupiah penjualannya? 7
Neraca LMT Trustco Assets Laporan Laba/Rugi LMT Trustco Sales Cost of Goods Sold Gross Profit Operating Expenses Depreciation Operating Income Interest Expense Income Before Taxes (40%) Net Income Common Dividends Paid Addition to Retained Earnings Liabilities Cash 175 Accounts Payable 115 Accounts Receivable 430 S-T Notes Payable 115 Inventories 625 Current Liabilities 230 Current Assets 1, 230 Long-term Debt 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 Net Fixed Assets 1, 300 Capital in Excess of Par 600 Total Assets 2, 530 Retained Earnings 1, 450 800 875 Total Owners’ Equity 1, 700 575 Total Liabilities and 45 Owners Equity 2, 530 200 330 60 270 108 162 100 62 Net Profit Margin = Net Income Sales Net Profit Margin = 162_ 1, 450 X 100% = 11. 2% 8
Return on investment ROI = Net Income X 100% Total investasi(asset) Seberapa efektif perusahaan menghasilkan laba bersih dari aktiva yang digunakannya? 9
Neraca LMT Trustco Assets Liabilities Cash 175 Accounts Payable 115 Accounts Receivable 430 S-T Notes Payable 115 Inventories 625 Current Liabilities 230 Current Assets 1, 230 Long-term debt 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 Net Fixed Assets 1, 300 Capital in Excess of Par 600 Laporan Laba/Rugi Total Assets 2, 530 Retained Earnings LMT Trustco 800 Sales 1, 450 Total Owners’ Equity 1, 700 Cost of Goods Sold 875 Total Liabilities and Gross Profit 575 Owners Equity 2, 530 Operating Expenses 45 Net Income = ROI X 100% Depreciation 200 Total Assets Operating Income 330 Interest Expense 60 Income Before Taxes 270 162_ Taxes (40) 108 = 6. 4% ROA = Net Income% 162 2, 530 Common Dividends Paid 100 10 Addition to Retained Earnings 62 Ilustrasi :
Return on Equity = Net Income X 100% Common Equity Seberapa baik perusahaan menghasilkan laba bersih untuk pemegang ekuitas? 11
Neraca LMT Trustco Assets Ilustrasi : Laporan Laba/Rugi LMT Trustco Sales Cost of Goods Sold Gross Profit Operating Expenses Depreciation Operating Income Interest Expense Income Before Taxes (40%) Net Income Common Dividends Paid Addition to Retained Earnings Liabilities Cash 175 Accounts Payable 115 Accounts Receivable 430 S-T Notes Payable 115 Inventories 625 Current Liabilities 230 Current Assets 1, 230 Long-term Debt 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 Net Fixed Assets 1, 300 Capital in Excess of Par 600 Total Assets 2, 530 Retained Earnings 1, 450 800 875 Total Owners’ Equity 1, 700 575 Total Liabilities and 45 Owners Equity 2, 530 200 330 60 270 108 162 100 62 ROE= Net Income Common Equity ROE = X 100% 162_ = 9. 53% 1, 700 12
RENTABILITAS EKONOMI RE = EBIT Total aktiva X 100% Seberapa efektif perusahaan menghasilkan laba bersih dari aktiva yang digunakannya? 13
Neraca LMT Trustco Assets Liabilities Cash 175 Accounts Payable 115 Accounts Receivable 430 S-T Notes Payable 115 Inventories 625 Current Liabilities 230 Current Assets 1, 230 Long-term debt 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 Net Fixed Assets 1, 300 Capital in Excess of Par 600 Laporan Laba/Rugi Total Assets 2, 530 Retained Earnings LMT Trustco 800 Sales 1, 450 Total Owners’ Equity 1, 700 Cost of Goods Sold 875 Total Liabilities and Gross Profit 575 Owners Equity 2, 530 EBIT Operating Expenses 45 = RE Depreciation 200 Total Assets X 100% Operating Income 330 Interest Expense 60 Income Before Taxes 270 330_ Taxes (40) 108 = 13, 04% RE = Net Income% 162 2, 530 Common Dividends Paid 100 14 Addition to Retained Earnings 62 Ilustrasi :
Rasio Nilai Pasar (Market value ratios) Earning Per share /EPS Laba Bersih EPS = -------------- x 1 rupiah Jumlah Lembar saham beredar __________________________________________
Neraca LMT Trustco Assets Liabilities Cash 175 Accounts Payable 115 Accounts Receivable 430 S-T Notes Payable 115 Inventories 625 Current Liabilities 230 Current Assets 1, 230 Long-term Debt 600 Plant & Equipment 2, 500 Owner’s Equity Less: Acc. Depr. (1, 200) Common Stock 300 1, 300 Capital in Excess of Par Laporan Laba/Rugi. Net Fixed Assets 600 LMT Trustco Total Assets 2, 530 Retained Earnings Sales 1, 450 800 Cost of Goods Sold 875 Total Owners’ Equity 1, 700 Gross Profit 575 Total Operating Expenses 45 Liabilities and Owners Equity 2, 530 Depreciation 200 Operating Income Interest Expense Income Before Taxes (40) Net Income Common Dividends Paid Addition to Retained Earnings 330 60 270 108 162 100 62 EPS(Laba /lbr saham) EPS = Laba Bersih Lbr Saham Rp. 162 100 lbr Rp. 1, 62 16
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