The purpose of this study predicts an early
signal of bankruptcy with the Springate S-Score model
for coal mining companies listed on the Indonesia Stock
Exchange for the 2013-2017 period. The analysis shows
that there are four companies included in the healthy
category, namely PT. Indo Tambangraya Megah Tbk,
PT. Resource Alam Indonesia Tbk, PT. Samindo
Resources Tbk, and PT. Toba Bara Sejahtera Tbk.
While the three companies that are always in the
distress zone or potential bankruptcy are PT. Darma
Henwa Tbk, PT. Atlas Resources Tbk and PT. Bumi
Resources Tbk. While the remaining PT. Bayan
Resources Tbk, PT. Delta Dunia Makmur Tbk, and PT.
Harum Energy Tbk is predicted to be in the gray zone.
Keywords : Bankruptcy, Springate S-Score, Mine company were listed on the Indonesia Stock Exchange.