Phiartiany, Rholea (2025) Analysis And Evaluation Of Financial And Stock Performance PT. Sumber Alfaria Trijaya, Tbk Before, During, And After The COVID-19 Pandemic Crisis In Indonesia For The Years 2017–2024. Graduate thesis, Institut IPMI.

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Abstract

The retail industry in Indonesia plays a crucial role in supporting national economic growth and ensuring the availability of essential goods for society. PT Sumber Alfaria Trijaya Tbk (Alfamart), as one of the largest retail companies in Indonesia, was chosen as the subject of this study due to its significant market presence, broad customer reach, and critical role during times of crisis such as the COVID-19 pandemic. The pandemic created substantial challenges for the retail sector, directly affecting the financial and stock performance of companies.This study examines the financial and stock performance of PT Sumber Alfaria Trijaya Tbk before (2017–2019), during (2020–2021), and after (2022–2024) the COVID-19 pandemic, and evaluates the effectiveness of the company’s strategic management responses. Using quarterly data, the research applies descriptive analysis, t-tests, F-tests for variance, and Interrupted Time Series modeling, supported by Relative Recovery Index benchmarking against the retail sector average.The financial analysis reveals a statistically significant improvement in Return on Assets, Return on Equity, and Net Profit Margin in the post-pandemic period, indicating enhanced operational efficiency and resource utilization. Stock performance analysis shows that strong investor interest and high Price-to-Earnings ratios persisted in the post-pandemic phase, reflecting both solid fundamentals and market optimism. The strategic management assessment finds that cost optimization, accelerated digital transformation, supply chain reinforcement, and targeted marketing initiatives contributed to faster recovery compared to industry peers. These results highlight that proactive, integrated crisis response strategies balancing financial prudence with growth-oriented initiatives can not only mitigate the adverse effects of systemic shocks but also strengthen long-term competitiveness in the retail sector. This study contributes to business and financial management theory by showing that in the retail sector, profitability indicators such as ROE and NPM are strong predictors of post-crisis performance, and that stock valuations in recovery phases reflect both fundamental and sentiment-driven factors. Practically, PT Sumber Alfaria Trijaya Tbk’s resilience during the pandemic demonstrates robust adaptability and offers investors a compelling long-term opportunity. From a policy perspective, the findings support targeted incentives for retail digitalization and industry-specific crisis management strategies to strengthen economic resilience. Keywords: Financial Performance, Stock Performance, COVID-19 Pandemic, Retail Resilience, Strategic Recovery

Item Type:	Thesis (Graduate)
Subjects:	H Social Sciences > H Social Sciences (General)
Divisions:	Thesis > Master of Business Administration
Depositing User:	Dwi Selviyana
Date Deposited:	16 Dec 2025 09:11
Last Modified:	16 Dec 2025 09:11
URI:	http://repository.ipmi.ac.id/id/eprint/2880

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