PERBANDINGAN KINERJA KEUANGAN ANTARA PT ALAMTRI RESOURCES INDONESIA TBK DENGAN PT BUKIT ASAM TBK PERIODE 2021-2024

This research is motivated by the importance of assessing the financial performance of coal mining companies, which is influenced by commodity price fluctuations and the continuously increasing energy demand. This study aims to compare the financial performance of PT Bukit Asam Tbk and PT Alamtri Resources Indonesia Tbk, which are listed on the Indonesia Stock Exchange. The data used are secondary data obtained from the companies' annual financial statements published through the Indonesia Stock Exchange (IDX) during the 2021–2024 period. The analytical tools used are Economic Value Added (EVA) and Market Value Added (MVA) to measure the company's ability to create economic value and market value. The results of the study show that PTBA has better financial performance compared to ADRO due to consistently positive EVA values and positive MVA values during the research period. Meanwhile, ADRO experienced a decline in market performance with a negative MVA value in 2023 and 2024.