Analysis of Differences in Financial Performance before and During the Covid-19 Pandemic in Manufacturing Companies Registered Food and Beverage Sector on the Indonesian Stock Exchange

Abstract

Food and beverage products are considered to be able to survive even in unfavorable or even bad economic conditions because they are products that are needed by all Indonesian people. This study aims to determine differences in financial performance before and during the covid-19 pandemic on the IDX using liquidity ratios, solvency ratios, activity ratios, profitability ratios and market value ratios. This research is a quantitative study of 18 food and beverage sector companies listed on the IDX in 2018-2021. The normality test using the Kolmogorov-Smirnov concluded that the data was not normally distributed, so the Wilcoxon signed rank test was used. The results of the study showed differences in the profitability ratio and liquidity ratio, while there was no significant difference in the solvency ratio and activity ratio before and during the Covid-19 pandemic. The market value ratio as assessed from the Price Earning Ratio (PER) shows that the company's financial performance is not significantly different, while the Price Book Value (PBV) variable shows that the company's financial performance was significantly different before and during the Covid-19 pandemic.