This research aims to compare the financial performance of listing and delisting companies at Indonesian Stock Exchange for 2011-2013.Analysis methods use the Altman's method (Z-Score) to determine corporate bankruptcy prediction. This research type is descriptive quantitative, data collection methods by using documentation. Sampling use purposive sampling by obtaining samples of each listing and delisting companies are 9 companies for three years of observation. Research's result shows that on 8 listing companies are in a safe condition for three consecutive years, while one other companies in a grey area. Delisting companies showed that 7companies are in a potentially bankrupt for three years in a row and 2 other companies are in a fluctuated condition.