The study attempts to demonstrate actual findings from a comparison of
the financial performance of food and beverage industries before and after COVID-19.
Financial performance measures how well a company can use its resources to generate
profits, and it may be used as a broad indicator of a company's overall financial health
over time. Business aspires for profit while completing their operating, nonetheless due
to the Covid-19 epidemic. In this research profitability ratio will be used, to be exact
Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM).
Analysis of profitability ratios is crucial during the Covid-19 pandemic because a drop in
consumer spending will result in lower firm profits than they were prior to Covid-19. The
Covid-19 affected many economic sectors in Indonesia including food and beverage
sectors. This empirical study examined thirty-seven food and beverage listed companies
in Indonesia Stock exchange from 2018 quarter 4 to 2021 quarter 3. In order to determine
if financial performance before and during COVID-19 differed, the Wilcoxon test was
applied to secondary data. There is no significant difference in ROA before and during
Covid-19, according to Return on Asset (ROA) data, Return on Equity (ROE) show that
there is significant difference in ROE before and during Covid-19, and Net Profit Margin
(NPM) period show that there is no significant difference in NPM before and during
Covid-19.