Financial Performance Analysis of Logistic and Transportation Service Company: Case Study in PT. Adi Sarana Armada Tbk

The Indonesian transportation and logistics industry showed the most significant economic growth in 2022 compared to the 2021 on annual basis(y-o-y) which grew by 19,87%. The purpose of this research is to analyze the financial performance of a logistic and transportation service company listed on the Indonesia Stock Exchange (IDX), PT. Adi Sarana Armada Tbk (ASSA). Financial ratio analysis (FRA) is applied to review ASSA's financial performance position relative to competitors, industry averages and the impact of the covid-19 pandemic; and analyze the factors that affect the return and profitability of ASSA shares. The ratios chosen include Return on Assets, Debt to Equity ratios and Debt to Asset ratios, Asset Turnover, Current Ratios, Profit Margin, Return on Equity, Market Return and Stock Return. This study uses quantitative research methods and purposive sampling techniques to collect the required data. The sample consists of 40 quarterly financial reports, from 2012 to 2021. Based on financial performance analysis, ASSA is classified as expensive based on Price-To-Earnings Ratio compared to peer averages and industry averages in terms of profitability and liquidity. In addition to the positive profitability and solvency trends, the efficiency in the use of ASSA's assets is quite concerning. In relation to the factors that predict ASSA stock returns, this study finds that fundamental factors have a statistically limited effect on stock returns. It also reveals that only profitability is affected by fundamental financial factors such as asset turnover and financial leverage.