Analisis Laporan Keuangan untuk Menilai Kinerja Keuangan pada PT GoTo Gojek Tokopedia Tbk Periode 2020–2024

Nurul Hidayah; Bambang Widjanarko Susilo; Haryo Kusumo; Eni Endaryati; Sri wahyuning

doi:10.61132/moneter.v4i3.2523

Authors

Nurul Hidayah Universitas Sains dan Tekologi Komputer
Bambang Widjanarko Susilo Universitas Sains dan Tekologi Komputer
Haryo Kusumo Universitas Sains dan Tekologi Komputer
Eni Endaryati Universitas Sains dan Tekologi Komputer
Sri wahyuning Universitas Sains dan Tekologi Komputer

DOI:

https://doi.org/10.61132/moneter.v4i3.2523

Keywords:

Financial Performance, GoTo, Net Profit Margin, Return on Assets, Return on Equity

Abstract

PT GoTo Gojek Tokopedia Tbk is the largest digital ecosystem company in Indonesia, established through the merger of Gojek and Tokopedia in 2021 and listed on the Indonesia Stock Exchange in 2022. Despite experiencing revenue growth, the company consistently recorded net losses during the 2020–2024 period. This study aims to analyze GoTo's financial performance using profitability ratios consisting of Net Profit Margin (NPM), Return on Assets (ROA), and Return on Equity (ROE). The research employed a descriptive qualitative approach using secondary data obtained from the company's annual financial statements for the period 2020–2024. Data were analyzed by calculating profitability ratios and interpreting the results based on financial performance standards. The findings indicate that NPM, ROA, and ROE remained negative throughout the observation period, indicating that the company had not yet achieved profitability. The worst financial performance occurred in 2023 due to a significant increase in net losses, while considerable improvement was observed in 2024 as a result of operational efficiency and cost optimization strategies. These findings indicate that although GoTo has not generated positive profitability, the company's financial condition has shown gradual improvement. The results are expected to provide useful information for investors, academics, and company management in evaluating financial performance and making strategic decisions.

Downloads

Download data is not yet available.

References

Akuntansi, J., Ekonomi, F., Sam, U., & Manado, R. (2022). Analisis Pengukuran Kinerja Keuangan Dengan Menggunakan Metode Economic Value Added ( EVA ) Dan Financial Value Added ( FVA ) Pada PT Indocement Tunggal Prakarsa Tbk Periode 2018-2020 Financial Performance Measurement Analysis Using Economic Value Added ( EVA ) And Financial Value Added ( FVA ) Methods At PT Indocement Tunggal Prakarsa Tbk Period 2018-2020. 5(2), 399–406.

Amal, B., Nursalsabila, A. P., Almira, A. D., Amanda, D., & Amelia, D. (2024). Analisis Profit Margin , ROA , dan ROE dalam Mengukur Kinerja Keuangan PT Mustika Ratu ( Periode 2021 – 2023 ) Analysis of Profit Margin , ROA , and ROE in Measuring the Financial Performance of PT Mustika Ratu ( 2021 – 2023 Period ). 7(12), 4519–4526. https://doi.org/10.56338/jks.v7i12.6456

Camelia Nurrahman, Safina Aulia Hidayat, Janah, N. K., Kelpin, S., & Yulianto. (2024). KEUANGAN PADA PT . AKR CORPORINDO TBK PERIODE 2019- PENGARUH ROA , ROE DAN NPM TERHADAP KINERJA KEUANGAN PADA PT . AKR CORPORINDO TBK PERIODE 2019-. 2(12).

Devega, L., Haryadi, T., Rizqahu, A., Sunardi, N., Studi, P., Manajemen, M., Sarjana, P., & Pamulang, U. (2023). KARIR: Jurnal Ilmiah Manajemen, Volume 2, No.1, April 2023. 2(1), 17–24.

Dewi Julianti, & Helly Aroza Siregar. (2025). THE EFFECT OF PROFITABILITY RATIO AND MARKET RATIO ON STOCK PRICES IN. 9(2), 115–128.

Dharma. (2023). PANDEMI COVID – 19 PADA SEKTOR TELEKOMUNIKASI YANG TERCATAT DI COMPARATIVE ANALYSIS OF FINANCIAL PERFORMANCE BEFORE AND DURING THE COVID – 19 PANDEMIC IN THE TELECOMMUNICATION SECTOR LISTED ON THE INDONESIA STOCK EXCHANGE ( IDX ) ( 2017 – 2020 ) Jurnal EM. 11(1), 1085–1093.

DJAMERENG. (2024). Analisis Rasio Keuangan Untuk Menilai Kinerja. 7(1), 1–13. https://doi.org/https://doi.org/10.56750/csej.v7i1.993

Egalita, D., Maharani, N., & Ekadjaja, A. (2023). The Effect of Financial Ratios and Company Size on Company Financial Performance. 1(1), 374–381.

Fandira, C. R. (2026). Analisis Kinerja Keuangan PT GoTo Gojek Tokopedia Tbk Berdasarkan Net Profit Margin , ROA , dan ROE Periode 2019 – 2023 profitabilitas yang berkelanjutan di tengah persaingan industri teknologi yang semakin ketat . Penelitian ini menganalisis kinerja keuangan PT GoTo Gojek Tokopedia Tbk menggunakan rasio Net Profit Margin ( NPM ), Return on Assets ( ROA ), dan Return on Equity kontribusi akademis berupa referensi empiris serta kontribusi praktis sebagai dasar perumusan Gojek Tokopedia Tbk di masa depan . 32(November 2025).

Finance, A. P. G., Tokopedia T B K, Nasution, S. H., & Novizar, A. (2025). ANALYSIS PT GOTO GOJEK TOKOPEDIA TBK FINANCIAL PERFORMANCE BEFORE AND AFTER IPO IN 2021 - 2024 ANALISIS KINERJA KEUANGAN PRA DAN PASCA IPO PT GOTO GOJEK. 2(4), 614–622.

Istinasari, C., Ngago, E. G., & Aprillianti, D. (2021). PENERAPAN LAPORAN KEUANGAN BERBASIS SAK EMKM SEBAGAI SISTEM PENGEMBANGAN KINERJA KEUANGAN (Studi Kasus UMKM Fedcacare). 19(3), 599–607.

Kuswanto, R. (2024). The Rise of Tech Corporation In Indonesia : Are Tech IPOs Priced Differently ? 9(2), 124–133.

Lutfi, A. A., Panuntun, B., & Indonesia, U. I. (2024). Analisis Pengaruh Rasio Profitabilitas ROA , ROE , dan NPM terhadap Nilai Perusahaan yang Tercatat dalam IDX-MES. 03(01), 81–91.

Marisa, S. A., Malahayati, R., & Jamaris, E. (2025). Pengaruh Rasio Keuangan dan Pertumbuhan Perusahaan Terhadap Kinerja Keuangan Perusahaan Pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Tahun 2020-2024. 03(04), 2004–2027.

Maulidinah, R., & Budiwitjaksono, G. S. (2021). Jurnal Proaksi Jurnal Proaksi Vol . 8 No . 1 Januari – Juni 2021. 8(1), 233–244.

Nabilah. (2025). Jurnal Riset Akuntansi dan Keuangan Integrating Accounting Information System Quality into UTAUT : Determinants of Mobile Payment Intentions. 14(April), 141–158.

Nurdin, A. A. (2021). Analisis Kinerja Keuangan Berdasarkan Rasio Keuangan pada PT Kimia Farma Tbk tahun 2016-2020 Analysis of financial performance base on financial ratio at PT Kimia Farma Ltd. 2(1), 95–107.

Pratiwi, A. . (2026). Analisi Kinerja Keuangan Dengan Metode Rasio Profitabilitas ( ROA dan. 2(3), 752–762.

Sarnawiah, S. (2025). Digital Economy Analysis in Driving Economic Growth in Indonesia.

Shofwatun, H., & Megawati, L. (2021). ANALISIS KINERJA KEUANGAN BERDASARKAN RASIO LIKUIDITAS DAN RASIO PROFITABILITAS PADA PT POS. 13(1), 59–74.

Sitorus, L. M., Novianti, M., Sari, L. P., Ansiska, P., Studi, P., Universitas, A., Petulai, P., Studi, P., Geografi, P., & Pattimura, U. (2024). ANALYSIS OF THE CORPORATE FINANCIAL PERFORMANCE. 10, 25–33.

Sugiyono. (2020). METODE PENELITIAN KUALITATIF ,.

Sugiyono. (2023). Metode Penelitian Kualitatif. Alfabeta.

Undari Sulung, & Mohamad Muspawi. (2024). Jurnal Edu Research Indonesian Institute For Corporate Learning And Studies (IICLS) Page 110. 5(September), 110–116. https://doi.org/https://doi.org/10.47827/jer.v5i3.238

Widayat, W., Masudin, I., & Satiti, N. R. (2020). No Title. E-Money Payment: Customers’ Adopting Factors and the Implication for Open Innovation. https://doi.org/https://doi.org/10.3390/joitmc6030057

Wuisan, S., & Harapan, U. P. (2023). The Influence of Organizational Culture , Work Environment and Work Motivation on Nurses Performance with Job Satisfaction as a Mediation Variable In Public Health Center. 2(03), 543–559.