Financial Performance Analysis Based On Profitability Ratios At PT Blue Bird Tbk, 2020-2024

Adisya Putri Nabilah; Fitri Yani Panggabean; Riska Franita

doi:10.37676/sosj.v3i2.1848

Authors

Adisya Putri Nabilah University Pembangunan Panca Budi
Fitri Yani Panggabean Universitas Pembangunan Panca Budi
Riska Franita Universitas Pembangunan Panca Budi

DOI:

https://doi.org/10.37676/sosj.v3i2.1848

Keywords:

Financial Performance, Net Profit Margin, Profitability, Return on Assets, Return on Equity

Abstract

This study analyzes the financial performance of PT Blue Bird Tbk using Return on Assets, Return on Equity, and Net Profit Margin during 2020-2024 and compares profitability during the COVID-19 crisis with the subsequent economic recovery. A quantitative descriptive design was applied using secondary data from the company's annual financial statements. Profitability ratios were calculated and compared across the five-year observation period. The results show a clear recovery trend. Return on Assets increased from -2.38% in 2020 to 7.06% in 2024, Return on Equity rose from -3.30% to 9.94%, and Net Profit Margin improved from -8.43% to 11.82%. The 2022-2024 recovery period therefore produced substantially stronger profitability than 2020-2021. The improvement reflects more effective asset utilization, stronger equity productivity, and better operating-cost control alongside the normalization of mobility and the company's business strategies. The findings support the view that profitability analysis is useful for evaluating corporate recovery and stakeholder value creation, while also providing a basis for managerial and investment decisions.

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