1 | Penelitian Dosen Pemula STIE BPKP ANALISIS Z-SCORE PADA PERUSAHAAN LEASING YANG GO PUBLIC DAN TERDAFTAR DI BURSA EFEK INDONESIA Herlambang Adi Gunawan menaraconsulting@gmail.com STIE BPKP Jakarta Abstrak Tujuan penelitian ini untuk mengetahui potensi kebangkrutan perusahaanleasing yang sudah go public dan terdaftar di Bursa Efek Indonesia yaitu PT.Wahana Ottomitra Multiartha, Tbk, PT.Adira Dinamika Multi Finance, Tbk, PT.BFI Finance Indonesia, Tbk, PT.Verena Multi Finance, Tbk, PT.Clipan Finance Indonesia, Tbk. Metode yang digunakan yaitu Altman Z- Scoredengan menggunakan rasio Working Capital to Total Assets (X 1 ), Retained Earning to Total Assets(X 2 ), Earning Before Interest and Taxes (EBIT) to Total Assets(X 3 ), Market Value of Equity to Book Value of Total Debt(X 4 ), Sales to Total Assets(X 5 ), berdasarkan data kuantitatif yaitu laporan keuangan tahun2013. Hasil penelitian ini menunjukkan bahwa untuk PT. Clipan Finance, Tbk dikatagorikan sebagai perusahaan sehat (non-bankrupt). PT. Wahana Ottomitra Multiartha, Tbk dikatagorikan sebagai perusahaan yang berpotensi bangkrut (bankrupt). Sedangkan untuk PT.Adira Dinamika Multi Finance, Tbk, PT.BFI Finance Indonesia, Tbk, dan PT.Verena Multi Finance, Tbk dikatagorikan dalam grey area. Kata kunci: Laporan Keuangan, rasio Working Capital to Total Assets, Retained Earning to Total Assets, Earning Before Interest and Taxes (EBIT) to Total Assets, Market Value of Equity to Book Value of Total Debt, Sales to Total Assets, metode Altman Z-Score. ABSTRACT The purpose of this study to determine the potential bankruptcy of the leasing companies that have gone public and was listed on the Indonesian stock exchange arePT.Wahana Ottomitra Multiartha, Tbk, PT.Adira Dinamika Multi Finance, Tbk, PT.BFI Finance Indonesia, Tbk, PT.Verena Multi Finance, Tbk, PT.Clipan Finance Indonesia, Tbk. The method used is Altman Z-Score by using the ratio Working Capital to Total Assets (X 1 ), RetainedEarning to Total Assets (X 2 ), Earning Before Interest and Taxes (EBIT) to Total Assets (X 3 ), Market Value of Equity to Book Value of Total Debt (X 4 ), Sales to Total Assets (X5), based on the quantitative data that the financial statements of 2013. The results of this study indicate that for the PT. Clipan Finance, Tbk categorized as a healthy company. PT. Wahana Ottomitra Multiartha, Tbk categorized as potentially bankrupt company. As for the PT. Adira Multi Finance, Tbk, PT. BFI Finance Indonesia, Tbk, and PT. Verena Multi Finance, Tbk categorized as a grey area. Key words: Financial Statements, ratio Working Capital to Total Assets, Retained Earning to Total Assets, Earning Before Interest and Taxes (EBIT) to Total Assets, Market Value of Equity to Book Value of Total Debt, Sales to Total Assets, Altman Z-Score Method. Pendahuluan Kebangkrutan merupakan masalah yang sangat esensial yang harus diwaspadai oleh perusahaan karena jika perusahaan mengalami kebangkrutan, maka perusahaan tersebut benar-benar mengalami kegagalan usaha. Kebangkrutan perusahaan dapat dilihat dan diukur melalui laporan keuangannya. Pengukuran tersebut dilakukan dengan cara menganalisis laporan keuangan yang dilakukan oleh perusahaan yang bersangkutan. Analisis laporan