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Ratio analysis is one of the most competent tools to predict the bankruptcy of a company. In this paper the bankruptcy prediction of listed cement company in Indonesian Stock Exchanges has been evaluated using Altman Z-score. This study aims to determine the level of the bankruptcy of the listed cement companies in the Indonesian Stock Exchange during 2013 to 2017. There are four listed cement companies, namely PT Semen A, PT Semen B, PT Semen C and PT Semen D. Based on the results of the research, it shows that PT Semen A, PT Semen B and PT Semen C are in the safe zone with the highest Z value which is 15,822 and the lowest Z value which is 3,542. PT Semen D is in the bankrupt zone because it has a Z value below 1.8. For that reason, all companies need to improve the performance immediately to avoid the bankruptcy happening. There are many ways to avoid the bankruptcy such as improving the sales revenue, improving operational cost and waste reduction in operation.

BANKRUPTCY PREDICTION OF LISTED CEMENT COMPANY IN INDONESIAN STOCK EXCHANGES USING ALTMAN Z-SCORE MODEL