This research aims to predict the financial difficulties or financial distress of BUMN (State-owned Enterprise) companies in the field of processing industry during 2014-2018 as well as to analyze the company performance stability during those years. The prediction of financial distress in this research used discriminant analysis technique using 5 prediction models namely Altman, Zmijewski, Springate, Grover, and Fulmer Model. The research results show that the models resulting in healthy companies are Zmijewski, Fulmer, and Grover Model with the percentage of 100%, 92%, and 56% respectively. On the other hand, two other models are dominated with bankruptcy with the percentage of 64% for Altman Model and 76% for Springate Model. If seen from the aforementioned 5 models, the levels of company health are the company of SMGR, SMBR, KRAS, KAEF, and INAF consecutively