Profitability 2021

1. Profitability EBIT 1.576.692 ROS 0,41

Net Sales 3.865.523 ROA 0,40
PROFITABILITY Assets 2020 3.849.516 ROE 0,38
0,45 Assets 2021 4.068.970
0,41 0,40
0,40 0,36
0,38 Net Income 1.260.898
0,34
0,35 0,32 Equity 2020 3.221.740
0,30 Equity 2021 3.471.185
0,25
Profitability 2022
0,20
EBIT 1.393.066 ROS 0,36
0,15
Net Sales 3.865.523 ROA 0,34
0,10
Assets 2021 4.068.970 ROE 0,32
0,05
Assets 2022 4.081.442
0,00
ROS ROA ROE Net Income 1.104.714
Equity 2021 3.471.185
2021 2022
Equity 2022 3.505.475

PT Sido Muncul is a private company engaged in the pharmaceutical sector and has been the pride of Indonesian people for long time. When the
covid-19 pandemic increased in 2020 and reached its peak in 2021, pharmaceutical companies earned huge income, including PT Sido Muncul, but in
2022, their financial performance decreased due to the gradual recovery of people's lives and the need for medicines also decreased. However, this
decline is not caused by the company's less than optimal performance, but rather market conditions that adjust their equilibrium.
• ROS value show us that the percentage of revenue that is left after all operating expenses have been paid is 41%, compared with ROS 2022 by
36%, we can conclude that there was a decline, but overall it still can be accepted as a health company.
• ROA of 2021 is also higher then 2022, it means there was a decrease on the efficiently of the company using its assets to generate profits.
• According to ROE 2021, the efficiency of a company to use its assets to generate profits is 38% and in 2022, the value went down by 32%.
2. Liquidity

Liquidity 2021
LIQUIDITY Current Assets 2.244.707 Current Ratio 3,76
5,00
Current Liabilities 597.785 Quick Ratio 2,99
4,06
4,00 3,76 Inventories 454.810
2,99 3,05
3,00
Liquidity 2022
2,00
Current Assets 2.194.242 Current Ratio 4,06
1,00 Current Liabilities 541.048 Quick Ratio 3,05
Inventories 542.624
0,00
Current Ratio Quick Ratio
2021 2022

• From the liquidity ratio above, the ability of the company to pay its short-term liabilities with its current assets is 3.76 times, compared to the
current ratio 2022 is 4.06 times.
• Company's ability to meet its short-term obligations using its most liquid assets excluding inventory and other less liquid asset is 2,99 times in 2021,
it’s lower compared to quick ratio 2022 by 3,05 times. Overall, the company performance is quite good because mostly the value is higher then 1.
 3. Leverage

LEVERAGE Leverage 2021

0,20 Debt 597.785 DER 0,17
0,17 0,16 Assets 4.068.970 DAR 0,15
0,15 0,14
0,15 Equity 3.471.185

0,10
Leverage 2022
0,05 Debt 575.967 DER 0,16
Assets 4.081.442 DAR 0,14
0,00
2021 2022 Equity 3.505.475

DER DAR

• According to the value of company’s total debt to its shareholders' equity. It indicates the proportion of a company's financing that comes from debt
and equity in 2021 is 0,17 and in 2022 is 0,16. As long as the value is lesser then 1, it’s still a promising choice.
• The proportion of a company's total assets that are financed by debt is 0,15 in 2021 and 0,14 in 2022. It’s still considerable to put investment.
 4. Asset Turn-Over
Asset Turnover 2021
ASSET TURN-OVER Sales 4.020.980 Receivable Turnover 6,06
Receivable 2020 663.757 Inventory Turnover 4,54
7,00 6,06
5,72 Receivable 2021 664.058 Asset Turnover 1,02
6,00
5,00 4,54 Cost of Goods Sold 1.734.948
4,00 3,41 Inventory 2020 309.478
3,00 Inventory 2021 454.810
2,00 Assets 2020 3.849.516
1,02 0,95
1,00 Asstets 2021 4.068.970
0,00
Receivable Turnover Inventory Turnover Asset Turnover
Asset Turnover 2022
2021 2022
Sales 3.865.523 Receivable Turnover 5,72
Receivable 2021 664.058 Inventory Turnover 3,41
Receivable 2022 686.662 Asset Turnover 0,95
• The velocity of this company collects cash from its credit sales is Cost of Goods Sold 1.702.910
6.06 times in 2021, higher then 2022 it’s only 5,72 times. Inventory 2021 454.810
• The efficiency of a company's inventory management and Inventory 2022 542.624
provides insights into its ability to convert its inventory into sales Assets 2021 4.068.970
in 2021 is 4,54 times higher then in 2022 by 3,41 times. Asstets 2022 4.081.442
• The efficiency of company using its assets to generate sales is
1,02 times in 2021 and 0,95 in 2022
5. Market Ratio

MARKET VALUE RATIO Market Value Ratio 2021

25.000 Price per Share 865.000 Price to Earning 20.459
Earning per Share 42,28 Price to Book 7.476
20.000
Book Value per Share 115,7
15.000

10.000
Market Value Ratio 2022
5.000
Price per Share 755.000 Price to Earning 20.503
0
Earning per Share 36,8 Price to Book 6.461
Price to Earning Price to Book
Book Value per Share 116,8
2021 2022

• The willingness of investors to pay more for each rupiah of earnings generated by the company or we called it Price to Earning, indicating that the
market has high expectations for the company's future earnings growth. P/E in 2021 is 20.459, a little bit low then 2022.
• Company's market value relative to its book value is 7.476 in 2021 and 6.461. I conclude that the market has high expectations of the company's
future growth or considers the company to have higher added value.