Penelitian ini bertujuan untuk melihat financial ratio analysis dan trend analysis pada PT. Jasa Marga Tbk. sebelum dan sesudah privatisasi. Jangka waktu yang digunakan adalah tiga tahun sebelum dan tiga tahun sesudah privatisasi, dimana privatisasi itu sendiri dilaksanakan pada tahun 2007. Ada tujuh rasio yang digunakan dalam studi ini, yaitu profitability ratio, operating efficiency ratio, capital investment ratio, employment ratio, leverage ratio, payout ratio, and fixed asset turnover ratio.

Hasil penelitian ini menunjukkan bahwa privatisasi membawa dampak positive terhadap performa perusahaan yang diukur dalam tujuh rasio, kecuali profitability ratio dan capital investment ratio. Kedua rasio diharapkan meningkat setelah privatisasi, tapi hasil penelitian menunjukkan menurun.

This research seeks to examine the financial ratio and trend analysis on PT. Jasa Marga Tbk. before and after privatization. The time period used is three years before and three years after privatization. The year of privatization is 2007. There are seven ratios used in the research, which are profitability ratio, operating efficiency ratio, capital investment ratio, employment ratio, leverage ratio, payout ratio, and fixed asset turnover ratio. These seven ratio covers all of the financial statement analysis.

From the result of the research, it shows that privatization brings positive effect to the companyÂ’s performance, except the profitability ratio and capital investment ratio. The two ratios are expected to increase after the privatization, where the result show that they are decreasing.

Kata Kunci : Privatization, profitability ratio, operating efficiency ratio, capital investment ratio, employment ratio, leverage ratio, payout ratio, fixed asset turnover ratio