Profitability Ratio Analysis to Measure Financial Performance at PT. Ultra Jaya Milk Tbk for the period 2022-2024

Abstract

This research aims to analyze the financial performance of PT. Ultra Jaya Milk Tbk for the period 2022-2024 through profitability ratio analysis. The research method used is quantitative descriptive by analyzing the company's financial statements over the past three years. The profitability ratios calculated include Gross Profit Margin (GPM), Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE). The research results show that the company's GPM consistently remains above the industry standard with values of 32.09% (2022), 32.42% (2023), and 34.05% (2024). However, NPM, ROA, and ROE are still below the healthy industry standards. NPM recorded 12.61% (2022), 14.29% (2023), and 13.00% (2024). ROA showed values of 13.09% (2022), 15.77% (2023), and 13.64% (2024). Meanwhile, ROE recorded 16.58% (2022), 17.74% (2023), and 15.54% (2024). This study concludes that although the company is able to control the cost of goods sold well, there is still a need for optimization in managing operational expenses and utilizing assets and capital to improve overall profitability.