Financial Performance Analysis of PT Telekomunikasi Indonesia Tbk Through Liquidity and Profitability Ratios

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FORMOSA NEWS

An in-depth analysis of the financial statements of PT Telekomunikasi Indonesia Tbk for the period from 2021 to 2024, conducted by Ahmad Syukri, Krisnaldy, and Veta Lidya Delimah Pasaribu from Universitas Pamulang, reveals significant challenges in the financial stability of the state-owned telecommunications company. Published in July 2026, this research is vital for investors, creditors, and management in understanding the company's financial health amid massive digital transformation.

The rapid development of the digital economy demands telecommunications companies to continuously innovate in providing the best digital solutions. However, this adaptability must be balanced with sound financial governance. Financial statements, particularly the balance sheet and income statement, serve as primary instruments for assessing a company's financial position and operational efficiency. This research was motivated by the fluctuations in PT Telekomunikasi Indonesia Tbk's financial performance that need to be comprehensively evaluated, especially when facing national and global business pressures.

The study employed a quantitative descriptive method by collecting secondary data in the form of historical financial reports sourced from the official Indonesia Stock Exchange (IDX) website and PT Telekomunikasi Indonesia Tbk. The analysis focused on calculating liquidity ratios (including the Current Ratio, Quick Ratio, and Cash Ratio) and profitability ratios (including Net Profit Margin, Return On Investment, and Return On Equity) to measure the company's level of financial health.

Based on the financial data analysis, several key findings were identified:

• Regarding liquidity ratios, the company's Current Ratio ranged from 67.3% to 104.8% and the Quick Ratio ranged from 65.9% to 103.4%, most of which failed to meet industry standards and were categorized as "Unhealthy".
• The Cash Ratio managed to meet industry standards in 2017 at 55.4%, but experienced fluctuating declines in subsequent periods before stabilizing back at 55.4% in 2021.
• In terms of profitability ratios, the Net Profit Margin (NPM) performed exceptionally well, ranging between 20.3% and 25.5%, which successfully exceeded industry standards.
• Conversely, Return On Investment (ROI), ranging from 12.0% to 16.5%, and Return On Equity (ROE), ranging from 23.0% to 29.2%, were deemed below industry standards.

Overall, the research concludes that PT Telekomunikasi Indonesia Tbk's financial performance is in an "Unhealthy" state when evaluated through the combined lens of liquidity and specific profitability aspects. The researchers recommend that company management exercise greater caution in increasing current assets using internal capital without expanding current debt, while optimizing domestic and international sales strategies to maintain business sustainability.

Author Profiles:

• Ahmad Syukri, S.E., M.M. – Lecturer and Researcher at the Management Study Program, Universitas Pamulang.
• Dr. Krisnaldy, S.E., M.M. – Lecturer and Researcher at the Management Study Program, Universitas Pamulang.
• Veta Lidya Delimah Pasaribu, S.E., M.M. – Lecturer and Researcher at the Management Study Program, Universitas Pamulang.

Research Sources:

• Journal Article Title: Liquidity Ratio Analysis and its Impact on Financial Performance on Pt. Telekomunikasi Indonesia Tbk Periode 2021-2024
• Journal Name: International Journal of Management Analytics (IJMA)
• Publication Year: 2026
• DOI: https://doi.org/10.59890/ijma.v4i3.6