Pengaruh Pertumbuhan Penjualan, Profitabilitas, Likuiditas dan Arus Kas Operasi terhadap Financial Distress

Identifying a financial distress condition is very important because it can become an early warning system before the bankruptcy. This study aims to determaine the effect of sales growth, profitability, liquidity, and operating cash flow on financial distress on delisted companies from the Indonesia Stock Exchange in the period 2017-2019. The sample in this study consisted of 18 companies, of which 12 companies had financial distress condition and 6 companies hadn’t financial distress. The financial distress condition indicates that the company had a negative operating profit for two years. The analysis technique in this sudy used logistic regression analysis and data processing using SPSS 24. The results of this study indicated that sales growth and profitability cannot be used to predict financial distress condition. As for liquidity and operating cash flows, they can be used to predict financial distress condition and have a significant effect. Keywords : Sales Growth, Profitability, Liquidity, Operating Cash Flow, and Financial Distres