ANALISIS KINERJA KEUANGAN BERDASARKAN RASIO PROFITABILITAS PERIODE 2023-2025 PADA PT CISADANE SAWIT RAYA Tbk

This study aims to analyze the financial performance of PT Cisadane Sawit Raya Tbk based
on profitability ratiosspecifically Gross Profit Margin (GPM), Net Profit Margin (NPM),
Return on Assets (ROA), and Return on Equity (ROE) during the 2023–2025 period. The
study employs a quantitative descriptive method using secondary data derived from the
company's audited annual financial statements. Data analysis was conducted through the
calculation of profitability ratios, horizontal analysis, and comparisons with industry
average standards. The results indicate that the Gross Profit Margin (GPM) declined
throughout the study period, whereas the Net Profit Margin (NPM) increased in 2024 but
decreased in 2025. Meanwhile, Return on Assets (ROA) and Return on Equity (ROE)
exhibited an upward trend. These findings suggest that while the company's ability to
generate profit from sales fluctuated, the effectiveness of utilizing assets and equity to
generate profit tended to improve. Overall, the financial performance of PT Cisadane
Sawit Raya Tbk during the 2023–2025 period showed varied trends across the different
profitability ratios.

Keywords: financial performance, profitability ratios, Gross Profit Margin, Net Profit
Margin, Return on Assets, Return on Equity.