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ANALISIS RASIO

LIKUDITAS PERUSAHAAN
Total Aktiva Lancar
1. Current Ratio
Total Hutang Lancar
2012 2013 2014 2015
6,441,710,544,081 7,497,319,451,543 8,120,805,370,192 8,748,491,608,702
1,891,617,853,724 2,640,590,023,748 2,385,920,172,489 2,365,880,490,863
3.41 2.84 3.40 3.70

Kas + Piutang
2. Quick Ratio
Total Hutang Lancar
2012 2013 2014 2015
3,797,818,305,522 3,699,839,755,090 4,359,511,057,921 5,152,700,991,791
1,891,617,853,724 2,640,590,023,748 2,385,920,172,489 2,365,880,490,863
2.01 1.40 1.83 2.18

3. Average Collection Piutang Rata-rata


Period
Penjualan/360
2012 2013 2014 2015
1,786,733,428,092 2,105,767,193,933 2,369,140,159,066 2,449,491,644,372
37,878,903,275 44,450,364,047 48,245,923,743 49,687,400,620
47.17 47.37 49.11 49.30

4. Days to Sell Persediaan Rata-rata


Inventory HPP/360
2012 2013 2014 2015
1,910,336,476,610 2,584,489,140,381 3,072,019,332,503 3,046,846,843,413
19,730,476,034 23,119,493,336 24,702,048,305 25,821,909,132
96.82 111.79 124.36 117.99

SOLVABILITAS
1. Total Debt to Equity Total Liablilitas
Total Ekuitas
2012 2013 2014 2015
2,046,313,566,061 2,815,103,309,451 2,607,556,689,283 2,758,131,396,170
7,371,643,614,897 8,499,957,965,575 9,817,475,678,446 10,938,285,985,269
0.28 0.33 0.27 0.25

2. Long Term Debt to Kewajiban Jangka


Equity Panjang
Ekuitas Pemegang
Saham
2012 2013 2014 2015
154,695,712,337 174,513,285,703 221,636,516,794 392,250,905,307
7,371,643,614,897 8,499,957,965,575 9,817,475,678,446 10,938,285,985,269
0.02 0.02 0.02 0.04

PROFITABILITAS

Laba Operasi
1. Operating Income Return on Investement (OIROI) =
Total Aktiva
2012 2013 2014 2015
2,308,017,092,492 2,572,522,717,231 2,763,700,548,048 2,720,881,244,459
9,417,957,180,958 11,315,061,275,026 12,425,032,367,729 13,696,417,381,439
0.25 0.23 0.22 0.20

Laba Operasi
2. Operating Profit Margin
Penjualan Bersih
2012 2013 2014 2015
2,308,017,092,492 2,572,522,717,231 2,763,700,548,048 2,720,881,244,459
13,636,405,178,957 16,002,131,057,048 17,368,532,547,558 17,887,464,223,321
0.17 0.16 0.16 0.15

3. Net Profit Margin Laba Bersih

Penjualan
2012 2013 2014 2015
1,775,098,847,932 1,970,452,449,686 2,121,090,582,630 2,057,694,281,873
13,636,405,178,957 16,002,131,057,048 17,368,532,547,558 17,887,464,223,321
0.13 0.12 0.12 0.12

PEMANFAATAN ASET
1. Total Assets Penjualan
Turnover Total Aktiva
2012 2013 2014 2015
13,636,405,178,957 16,002,131,057,048 17,368,532,547,558 17,887,464,223,321
9,417,957,180,958 11,315,061,275,026 12,425,032,367,729 13,696,417,381,439
1.45 1.41 1.40 1.31

Penjualan
2. Receivable Turnover
Rata-rata Piutang
2012 2013 2014 2015
13,636,405,178,957 16,002,131,057,048 17,368,532,547,558 17,887,464,223,321
1,786,733,428,092 2,105,767,193,933 2,369,140,159,066 2,449,491,644,372
7.63 7.60 7.33 7.30

HPP
3. Inventory Turnover
Persediaan Rata-rata
2012 2013 2014 2015
7,102,971,372,126 8,323,017,600,990 8,892,737,389,731 9,295,887,287,351
1,910,336,476,610 2,584,489,140,381 3,072,019,332,503 3,046,846,843,413
3.72 3.22 2.89 3.05

4. Cash Turnover Penjualan


Rata-rata Kas dan
Setara Kas
2012 2013 2014 2015
13,636,405,178,957 16,002,131,057,048 17,368,532,547,558 17,887,464,223,321
1,898,909,152,761 1,849,919,877,545 2,179,755,528,961 2,576,350,495,896
7.18 8.65 7.97 6.94
2016
9,572,529,767,897
2,317,161,787,100
4.13

2016
5,621,389,584,708
2,317,161,787,100
2.43

2016
2,579,944,670,202
53,817,308,215
47.94

2016
3,173,776,843,388
27,461,840,701
115.57

2016
2,762,162,069,572
12,463,847,141,085
0.22
2016
445,000,282,472
12,463,847,141,085
0.04

2016
3,091,188,460,230
15,226,009,210,657
0.20

2016
3,091,188,460,230
19,374,230,957,505
0.16

2016
2,350,884,933,551
19,374,230,957,505
0.12

2016
19,374,230,957,505
15,226,009,210,657
1.27

2016
19,374,230,957,505
2,579,944,670,202
7.51

2016
9,886,262,652,473
3,173,776,843,388
3.11

2016
19,374,230,957,505
2,810,694,792,354
6.89
NERACA COMMON SIZE PT.KALBE
FARMA TBK
2012 2013 2014
(Rp)
ASET
ASET LANCAR
Kas dan setara kas 1,859,662,706,073 1,426,460,966,674 1,894,609,528,205
Piutang usaha 1,805,234,960,760 2,145,218,904,462 2,346,943,653,265
Piutang lain-lain 132,920,638,689 128,159,883,954 117,957,876,451
Aset keuangan lancar lainnya 239,187,296,256 187,742,937,561 199,389,672,567
Persediaan 2,115,483,766,910 3,053,494,513,851 3,090,544,151,155
Pajak Pertambahan Nilai dibayar 30,791,801,204 40,855,503,867 13,609,917,516
dimuka
Biaya dibayar di muka 96,676,558,937 119,253,269,711 69,088,895,897
Aset lancar lainnya 161,752,815,252 396,133,471,463 388,661,675,136
Total Aset Lancar 6,441,710,544,081 7,497,319,451,543 8,120,805,370,192

ASET TIDAK LANCAR


Aset keuangan tidak lancar lainnya 15,487,500,000 16,537,500,000
Investasi pada entitas asosiasi 48,951,431,557 42,420,010,003 24,296,002,168
Aset pajak tangguhan, neto 56,264,133,006 72,602,976,620 79,974,909,842
Tagihan restitusi pajak penghasilan 26,389,487,884 34,043,461,574 30,717,297,898
Aset tetap, neto 2,254,763,272,886 2,925,546,783,050 3,404,457,131,056
Aset takberwujud 341,173,421,136 385,267,577,327 421,707,972,435
Aset tidak lancar lainnya 248,704,890,408 357,861,014,909 326,536,184,138
Total Aset Tidak Lancar 2,976,246,636,877 3,817,741,823,483 4,304,226,997,537
TOTAL ASET 9,417,957,180,958 11,315,061,275,026 12,425,032,367,729

LIABILITAS DAN EKUITAS


LIABILITAS JANGKA PENDEK
Utang bank jangka pendek 204,252,407,762 583,823,955,413 251,909,102,153
Utang usaha
Pihak ketiga 793,161,241,733 1,123,624,060,524 1,100,702,542,859
Pihak berelasi 15,703,499,800 28,030,519,173 32,390,276,800
Utang lain-lain
Pihak ketiga 286,160,154,964 373,767,266,490 422,739,416,901
Pihak berelasi 4,848,295,391 5,389,417,222
Beban akrual 361,916,843,180 314,518,392,842 358,667,243,424
Liabilitas imbalan kerja jangka pendek 29,444,628,851 24,391,340,352 34,921,207,677
Utang pajak 195,836,997,773 186,953,727,366 184,590,382,675
Bagian jangka pendek utang bank
Bagian jangka pendek utang sewa 293,784,270 91,344,366
pembiayaan
Total Liabilitas Jangka Pendek 1,891,617,853,724 2,640,590,023,748 2,385,920,172,489
LIABILITAS JANGKA PANJANG
Utang bank jangka panjang 44,219,703,964
Liabilitas pajak tangguhan, neto 10,932,346,121 11,931,480,758 12,978,815,942
Utang sewa pembiayaan setelah 78,356,010
dikurangi bagian jangka pendek

Liabilitas Imbalan Kerja Jangka Panjang 143,685,010,206 162,581,804,945 164,437,996,888

Bagian jangka panjang utang sewa


pembiayaan
Utang lain-lain jangka panjang pihak
ketiga
Total Liabilitas Jangka Panjang 154,695,712,337 174,513,285,703 221,636,516,794
TOTAL LIABILITAS 2,046,313,566,061 2,815,103,309,451 2,607,556,689,283

EKUITAS
Ekuitas yang Dapat Diatribusikan
kepada Pemilik Entitas Induk
Modal saham 507,800,721,100 468,751,221,100 468,751,221,100
Tambahan modal disetor, neto -32,317,540,678 -34,118,673,814 -34,118,673,814
Selisih transaksi dengan pihak non -3,069,982,400 -3,070,186,478 -3,074,787,110
pengendali
Saldo laba
Telah ditentukan penggunaannya 77,133,124,052 94,472,405,108 113,667,488,811
Belum ditentukan penggunaannya 7,173,606,932,349 7,538,715,965,642 8,787,330,471,511
Modal treasuri -687,283,369,009
Pendapatan (beban) komprehensif
lainnya:
Selisih kurs atas penjabaran laporan 3,337,783,433 36,450,368,684 40,008,270,342
keuangan
Laba (rugi) belum direalisasi atas
kenaikan (penurunan) nilai pasar 14,846,567,653 7,040,421,261 9,459,173,195
investasi, neto
Kerugian aktuarial atas liabilitas
imbalan kerja
Sub Total 7,054,054,236,500 8,108,241,521,503 9,382,023,164,035
Kepentingan Non-pengendali 317,589,378,397 391,716,444,072 435,452,514,411
Ekuitas 7,371,643,614,897 8,499,957,965,575 9,817,475,678,446
TOTAL LIABILITAS DAN EKUITAS 9,417,957,180,958 11,315,061,275,026 12,425,032,367,729
2015 2016 2012 2013 2014 2015 2016
Rp) (%)

2,718,619,232,764 2,895,582,003,331 19.75% 12.61% 15.25% 19.85% 19.02%


2,354,779,771,919 2,631,206,429,124 19.17% 18.96% 18.89% 17.19% 17.28%
79,301,987,108 94,601,152,253 1.41% 1.13% 0.95% 0.58% 0.62%
155,753,502,796 179,326,120,554 2.54% 1.66% 1.60% 1.14% 1.18%
3,003,149,535,671 3,344,404,151,105 22.46% 26.99% 24.87% 21.93% 21.97%

31,631,064,733 104,612,520,163 0.33% 0.36% 0.11% 0.23% 0.69%

66,672,277,410 64,619,010,784 1.03% 1.05% 0.56% 0.49% 0.42%


338,584,236,301 258,178,380,583 1.72% 3.50% 3.13% 2.47% 1.70%
8,748,491,608,702 9,572,529,767,897 68.40% 66.26% 65.36% 63.87% 62.87%

11,760,000,000 47,350,500,000 0.14% 0.13% 0.09% 0.31%


45,890,342,781 41,781,440,332 0.52% 0.37% 0.20% 0.34% 0.27%
106,339,190,223 160,215,778,533 0.60% 0.64% 0.64% 0.78% 1.05%
83,631,207,773 34,842,506,365 0.28% 0.30% 0.25% 0.61% 0.23%
3,938,494,051,483 4,555,756,101,580 23.94% 25.86% 27.40% 28.76% 29.92%
415,279,754,800 400,206,315,434 3.62% 3.40% 3.39% 3.03% 2.63%
346,531,225,677 413,326,800,516 2.64% 3.16% 2.63% 2.53% 2.71%
4,947,925,772,737 5,653,479,442,760 31.60% 33.74% 34.64% 36.13% 37.13%
13,696,417,381,439 15,226,009,210,657 100% 100% 100% 100% 100%

266,148,059,414 135,186,107,287 2.17% 5.16% 2.03% 1.94% 0.89%

1,024,170,082,622 1,068,305,280,044 8.42% 9.93% 8.86% 7.48% 7.02%


44,495,441,420 59,001,960,214 0.17% 0.25% 0.26% 0.32% 0.39%

391,108,233,500 451,213,413,753 3.04% 3.30% 3.40% 2.86% 2.96%


0.05% 0.05%
408,242,363,125 368,413,556,679 3.84% 2.78% 2.89% 2.98% 2.42%
32,427,710,263 40,566,890,894 0.31% 0.22% 0.28% 0.24% 0.27%
197,459,298,266 180,968,069,393 2.08% 1.65% 1.49% 1.44% 1.19%
12,208,333,333 0.08%

1,829,302,253 1,298,175,503 0.003% 0.001% 0.01% 0.01%

2,365,880,490,863 2,317,161,787,100 20.09% 23.34% 19.20% 17.27% 15.22%


127,727,051,924 132,240,967,009 0.36% 0.93% 0.87%
6,602,342,000 581,578,848 0.12% 0.11% 0.10% 0.05% 0.00%

2,176,009,095 0.001% 0.01%

254,715,638,636 300,201,727,520 1.53% 1.44% 1.32% 1.86% 1.97%

3,205,872,747 0.02%

9,800,000,000 0.06%

392,250,905,307 445,000,282,472 1.64% 1.54% 1.78% 2.86% 2.92%


2,758,131,396,170 2,762,162,069,572 21.73% 24.88% 20.99% 20.14% 18.14%

468,751,221,100 468,751,221,100 5.39% 4.14% 3.77% 3.42% 3.08%


-34,118,673,814 -34,118,673,814 -0.34% -0.30% -0.27% -0.25% -0.22%

777,244,134 32,791,625,188 -0.03% -0.03% -0.02% 0.01% 0.22%

134,314,355,465 154,356,725,266 0.82% 0.83% 0.91% 0.98% 1.01%


9,872,083,279,142 11,261,148,161,801 76.17% 66.63% 70.72% 72.08% 73.96%
-7.30% 0.00% 0.00% 0.00% 0.00%

62,386,164,106 56,687,535,152 0.04% 0.32% 0.32% 0.46% 0.37%

4,725,655,162 32,825,755,156 0.16% 0.06% 0.08% 0.03% 0.22%

-43,796,281,405 -63,177,641,800 -0.32% -0.41%

10,465,122,963,890 11,909,264,708,049 74.90% 71.66% 75.51% 76.41% 78.22%


473,163,021,379 554,582,433,036 3.37% 3.46% 3.50% 3.45% 3.64%
10,938,285,985,269 12,463,847,141,085 78.27% 75.12% 79.01% 79.86% 81.86%
13,696,417,381,439 15,226,009,210,657 100% 100% 100% 100% 100%
LABA RUGI COMMON SIZE PT.KALBE
FARMA TBK
2012 2013 2014
(Rp)
PENJUALAN NETO 13,636,405,178,957 16,002,131,057,048 17,368,532,547,558
BEBAN POKOK PENJUALAN 7,102,971,372,126 8,323,017,600,990 -8,892,737,389,731
LABA BRUTO 6,533,433,806,831 7,679,113,456,058 8,475,795,157,827
Beban penjualan -3,573,502,403,790 -4,230,293,635,075 -4,670,393,647,550
Beban umum dan administrasi -651,416,535,513 -764,512,533,499 -901,181,791,170

Beban penelitian dan Pengembangan -90,754,826,941 -135,388,356,694 -143,175,406,909

Beban bunga dan keuangan -17,513,612,249 -28,642,082,811 -52,009,056,900


Penghasilan bunga 74,469,005,621 50,425,100,828 63,367,657,238
Pajak atas penghasilan bunga
Beban operasi lainnya -97,361,969,697
Pendapatan operasi lainnya 91,296,113,044
Bagian atas rugi entitas asosiasi -2,636,507,835
Laba (rugi) selisih kurs 19,832,825,669 21,202,496,859
Laba atas penjualan aset tetap 18,818,935,524 529,460,305
Rupa-rupa, neto -5,350,102,660 -19,911,188,740
LABA SEBELUM BEBAN PAJAK 2,308,017,092,492 2,572,522,717,231 2,763,700,548,048
PENGHASILAN
BEBAN PAJAK PENGHASILAN -532,918,244,560 -602,070,267,545 -642,609,966,418
LABA TAHUN BERJALAN 1,775,098,847,932 1,970,452,449,686 2,121,090,581,630
PENDAPATAN (BEBAN) KOMPREHENSIF
LAIN :
Keuntungan aktuarial atas liabilitas
imbalan kerja

Laba (rugi) yang belum direalisasi dari -4,217,177,806 678,659,860 4,566,966,794


aset keuangan tersedia untuk dijual

Selisih kurs atas penjabaran laporan 1,153,080,445 33,112,585,251 3,557,901,658


keuangan
Pajak penghasilan terkait
Penghasilan Komprehensif Lain Setelah
Pajak
LABA KOMPREHENSIF TAHUN 1,772,034,750,571 2,004,243,694,797 2,129,215,450,082
BERJALAN
Laba Tahun Berjalan Yang Dapat
Diatribusikan Kepada:
Pemilik entitas induk 1,733,928,105,603 1,919,508,370,312 2,064,686,665,442
Kepentingan non-pengendali 41,170,742,329 50,944,079,374 56,403,916,188
Total 1,775,098,847,932 1,970,452,449,686 2,121,090,581,630
Laba Komprehensif Tahun Berjalan Yang
Dapat Diatribusikan Kepada:
Pemilik entitas induk 1,730,864,008,242 1,952,588,559,890 2,072,781,310,118
Kepentingan non-pengendali 41,170,742,329 51,655,134,907 56,434,139,964
Total 1,772,034,750,571 2,004,243,694,797 2,129,215,450,082

PER SAHAM DASAR LABA TAHUN


BERJALAN YANG DAPAT DIATRIBUSIKAN 37 41 44
KEPADA PEMILIK ENTITAS INDUK
2015 2016 2012 2013 2014
Rp) (%)
17,887,464,223,321 19,374,230,957,505 100% 100% 100%
-9,295,887,287,351 -9,886,262,652,473 52.09% 52.01% -51.20%
8,591,576,935,970 9,487,968,305,032 47.91% 47.99% 48.80%
-4,828,392,482,465 -5,193,013,838,459 -26.21% -26.44% -26.89%
-953,016,118,389 -1,046,592,722,481 -4.78% -4.78% -5.19%

-163,364,759,657 -191,713,233,922 -0.67% -0.85% -0.82%

-23,918,010,816 -28,148,525,280 -0.13% -0.18% -0.30%


101,333,519,539 132,333,575,576 0.55% 0.32% 0.36%
-19,752,143,479
-87,177,000,653 -111,512,015,811 -0.56%
104,495,963,796 45,975,818,025 0.53%
-904,659,387 -4,108,902,450 -0.02%
0.15% 0.13%
0.14% 0.00%
-0.04% -0.12%

2,720,881,244,459 3,091,188,460,230 16.93% 16.08% 15.91%

-663,186,962,586 -740,303,526,679 -3.91% -3.76% -3.70%


2,057,694,281,873 2,350,884,933,551 13.02% 12.31% 12.21%

3,901,901,743 -26,416,054,446

-571,176,259 29,159,662,697 -0.03% 0.004% 0.03%

22,377,893,764 -6,146,991,115 0.01% 0.21% 0.02%

6,442,390,000

3,039,007,136

2,083,402,901,121 2,353,923,940,687 12.99% 12.52% 12.26%

2,004,236,980,127 2,299,734,572,550 12.72% 12.00% 11.89%


53,457,301,746 51,150,361,001 0.30% 0.32% 0.32%
2,057,694,281,873 2,350,884,933,551 13.02% 12.31% 12.21%
2,029,812,883,113 2,302,751,188,880 12.69% 12.20% 11.93%
53,590,018,008 51,172,751,807 0.30% 0.32% 0.32%
2,083,402,901,121 2,353,923,940,687 12.99% 12.52% 12.26%

42.76 49.06
2015 2016
%)
100% 100%
-51.97% -51.03%
48.03% 48.97%
-26.99% -26.80%
-5.33% -5.40%

-0.91% -0.99%

-0.13% -0.15%
0.57% 0.68%
-0.11%
-0.49% -0.58%
0.58% 0.24%
-0.01% -0.02%

15.21% 15.96%

-3.71% -3.82%
11.50% 12.13%

0.02% -0.14%

-0.003% 0.15%

0.13% -0.03%

0.03%

0.02%

11.65% 12.15%

11.20% 11.87%
0.30% 0.26%
11.50% 12.13%
11.35% 11.89%
0.30% 0.26%
11.65% 12.15%