The purpose of this study aims to assess the potential of bankruptcy in construction companies that is listed on Indonesia Stock Exchange in Period 2019 – 2021 using Z-Score model which is initiated by Edward I. Altman in 1968. The population used in this study were construction companies listed in Indonesia Stock Exchange in period 2019 – 2021 with the total of 18 companies. By using purposive sampling method, this research determines 51 samples (17 companies x 3 observing year) by considering the criteria that construction companies listed in Indonesia Stock Exchange and do not delist during 2019 – 2021. The method of data analysis in this study is descriptive statistical analysis and Z-Score model analysis. The research data was processed using the Microsoft Excel 2016 and the Statistical Package for Social Science (SPSS) 23 software. The results of this study indicate that 6 out of 17 companies had the potential of bankruptcy, 3 out of 17 companies were in grey zone which indicates high uncertainty about their financial condition, and 8 out of 17 companies had low risk area of bankruptcy (health) based on assessment using Z-Score Model in 2019; 9 out of 17 companies had the potential of bankruptcy, 8 out of 17 companies were in grey zone which indicates high uncertainty about their financial condition, and no companies had low risk area of bankruptcy (health) in 2020 based on assessment using Z-Score Model in 2020; and 8 out of 17 companies had the potential of bankruptcy, 5 out of 17 companies were in grey zone which indicates high uncertainty about their financial condition, and 4 out of 17 companies had low risk area of bankruptcy (health) based on assessment using Z-Score Model in 2021. This results also implied that Covid-19 affected whole construction sector in Indonesia.