This study aims to analyze State-Owned Enterprises (BUMN) financial health in the building construction sector, specifically PT. WIKA, during the period from 2017 to 2023. This analysis is conducted to improve the company's financial performance using eight financial indicators established in the Minister of BUMN Decree No: Kep-100/MBU/2002. The research results show that in 2023, PT. WIKA received the "Unhealthy" designation with a final weighted score of 29.13%, reflecting a significant decline in the Return on Equity (ROI) and Return on Investment ratios. (ROI). This decline is caused by increased liabilities and decreased equity, which hinder debt management and operational efficiency. In addition, horizontal and vertical analysis also revealed that the company is experiencing difficulties maintaining stable financial performance in asset management. This research proposes recommendations for improvement steps such as enhancing operational efficiency, better debt management, and using technology for data visualization to support more accurate decision-making. The results of this research are expected to assist and provide insights for the management of PT. WIKA in their efforts to improve the company's financial health in the future