Cash Flow Statement Analysis of PT Astra Agro Lestari Tbk. Jakarta
Main Article Content
Wendy Teguh Putri Zega*
Mangasa Sinurat
Dame Ria Rananta Saragih
Cash flow fluctuations in companies can indicate financial instability, making it essential to analyze whether cash is generated from sustainable operations or external financing. The study investigates PT Astra Agro Lestari Tbk cash flow statement performance from 2022 to 2024 while evaluating the company's capacity to generate operating cash flows and finance its investments and fulfill its funding needs. The research question in this study is how the company's cash flow performance is reviewed from cash flow ratios and common size analysis in operating, investing, and financing activities. The research method employed in this study uses quantitative descriptive research to analyze secondary data which includes cash flow statements obtained from the Indonesia Stock Exchange. The analysis technique used operating cash flow ratio calculation and current liability cash coverage ratio calculation and capital expenditure ratio calculation and total debt ratio calculation and common size analysis to determine cash flow component proportions. The results indicate that operating cash flow showed variable performance throughout the period yet reached its highest point which resulted in increased company liquidity. Companies spent most of their investment funds on fixed assets and biological assets while their financing activities depended on bank loans. The study results emphasize that companies need to achieve operational efficiency through better investment planning and funding structure control to achieve long term financial stability.
Arysuwanty, T. T., Rengga, A., & Aurelia, P. N. (2025). Analisis Laporan Arus Kas Pada PT. Mayora Indah Tbk. Jurnal Accounting UNIPA, 4(1), 124–154. https://doi.org/https://doi.org/10.59603/accounting.v4i1.637
Binz, O., Schipper, K., & Standridge, K. R. (2025). Estimating profitability decomposition frameworks via machine learning: Implications for earnings forecasting and financial statement analysis. Journal of Accounting and Economics, 80(2), 101805. https://doi.org/https://doi.org/10.1016/j.jacceco.2025.101805
Chaudhry, A. (2025). The impact of prices on analyst cash flow expectations: Reconciling subjective beliefs data with rational discount rate variation. Journal of Financial Economics, 171, 104095. https://doi.org/https://doi.org/10.1016/j.jfineco.2025.104095
Gans, J. S. (2025). The efficient market hypothesis when time travel is possible. International Business Review, 248, 112209. https://doi.org/10.1016/j.ibusrev.2025.102526
Harahap, S. S. (2020). Analisis Kritis Atas Laporan Keuangan. RajaGrafindo Persada.
Hery. (2022). Akuntansi Keuangan Menengah (1st ed.). Grasindo.
Ikatan Akuntan Indonesia (IAI). (2021). Pernyataan Standar Akuntansi Keuangan. Dewan Standar Akuntansi Keuangan.
Kunst, V. E., & Beugelsdijk, S. (2025). The predictive power of agency theory in a multipolar world. International Business Review, 35(1), 102526. https://doi.org/10.1016/j.ibusrev.2025.102526
Manao, A., Waspada, I., & Sari, M. (2025). Efficient Capital Market Theory and its Implications for Investment Decision Making in Financial Markets. DIJEFA : Dinasti International Journal of Economics, Finance & Accounting, 5(6), 5963–5971. https://doi.org/10.38035/dijefa.v5i6
Mo, D., Tian, X., & Zhong, A. (2025). Financial constraints, cash flow timing patterns, and asset prices in the australian market. Pacific-Basin Finance Journal, 93, 102907. https://doi.org/10.1016/j.pacfin.2025.102907
Ngala, K. U. M., Manoppo, W. S., & Mangindaan, J. V. (2020). Analisis Laporan Arus Kas pada PT. United Tractors, Tbk. Productivity, 1(4), 301–305. https://ejournal.unsrat.ac.id/v3/index.php/productivity/article/view/29883
Ningrum, A. S. (2024). Analisis informasi laporan arus kas sebagai alat ukur kinerja keuangan PT. Kalbe Farma Tbk Periode 2019-2022. Manajemen Bisnis Dan Keuangan Korporat, 2(2), 149–158. https://doi.org/10.58784/mbkk.142
Olayinka, A. A. (2022). Financial statement analysis as a tool for investment decisions and assessment of companies’ performance. International Journal of Financial, Accounting, and Management, 4(1), 49–66. https://doi.org/10.35912/ijfam.v4i1.852
Ramadhani, S., Wenaldo, W., & Kusumastuti, R. (2023). Analisis Laporan Arus Kas Pada PT. Garuda Indonesia, Tbk. Jumek: Jurnal Manajemen Dan Ekonomi Kreatif, 1(3), 173–199. https://doi.org/10.59024/jumek.v1i3.126
Rudianto. (2021). Analisis Laporan Keuangan: Alat Perencanaan dan Pengendalian Manajemen. Penerbit Erlangga.
Sirait, P. (2021). Pelaporan dan Laporan Keuangan (1st ed.). Graha Ilmu.
Suciani, T. Y., & Setyawan, S. (2022). Analysis of Cash Flow Statement to Assess the Company’s Financial Performance at PT Astra International Tbk. CASHFLOW: Current Advanced Research on Sharia Finance and Economic Worldwide, 1(4), 1–12. https://doi.org/https://doi.org/10.55047/cashflow.v1i4.223
Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Bandung: Alfabeta.
Sutjiady, A. T. (2023). Analysis of Statements of Cash Flows to Assess Company Performance. SSRN. https://doi.org/10.2139/ssrn.4339359
Syafriadi, E., Sitepu, H. B., Andini, Y. P., Muda, I., & Kesuma, S. A. (2023). The impact of agency theory on organizational behavior: a systematic literature review of the latest research findings. Brazilian Journal of Development, 9(12), 31895–31911. https://doi.org/10.34117/bjdv9n12-090
