| This research is aimed to analyze financial performance of PT Ciputra Development Tbk if compared with PT Summarecon Agung Tbk in a whole, with analyze its financial ratios and analyze how Du Pont Method can explain the interaction between financial ratio and its components to the level of ROE (Return On Equity) and also analyze which ratio component that have significant influence on ROE. This research was conducted by analyzing financial performance in cross sectional and time series, with comparing the two same companies, which are PT Ciputra Development Tbk and PT Summarecon Agung Tbk, for three periods, which are years 2008, 2009 and 2010. This research utilizes "analysis descriptive" method. Analysis that was conducted is analysis in qualitative, with using quantitative data from PT Ciputra Development Tbk's And PT Summarecon Agung Tbk's consolidated financial statements for the years ended December 31, 2007 until December 31,2010. The research result shows that in a whole the financial performace of PT Summarecon Agung Tbk is better than PT Ciputra Development Tbk's, as its asset management ratios are higher, its debt utilization is more optimal, its profitability is higher, and its market value ratios are higher. While Du Pont analysis shows that the ratio which dominantly causes changes of ROE of the two companies is net profit margin, except for PT Summarecon Agung Tbk from 2009 to 2010 the dominant ratio is Equity Multiplier. Components which dominantly cause changes of ROE for PT Ciputra Development Tbk are other expenses, other assets and sales that increase high. Components which dominantly cause changes of ROE for PT Summarecon Agung Tbk are cost of sales and trade receivables that decrease high, and also sales that increase high. |