Analisis Pengaruh Profitabilitas, Leverage, dan Likuiditas dalam Memprediksi Financial Distress

Muhammad Achsan Hidayat, Dr. Ahmad Amin, S.E., M.Sc.

2025 | Skripsi | AKUNTANSI

Penelitian ini bertujuan untuk mengkaji pengaruh profitabilitas, leverage, dan likuiditas dalam memprediksi financial distress. Financial distress sebagai variabel dependen diukur menggunakan Interest Coverage Ratio (ICR). Adapun variabel independen yang digunakan terdiri dari profitabilitas yang diproksikan dengan Return on Assets (ROA), leverage diproksikan dengan Debt-to-Asset Ratio (DAR), dan likuiditas diproksikan dengan Current Ratio (CR). Subjek penelitian ini adalah perusahaan sektor non-keuangan berdasarkan klasifikasi Global Industry Classification Standard (GICS) yang terdaftar di Bursa Efek Indonesia selama periode 2015–2019. Sampel penelitian berjumlah 228 perusahaan yang dipilih menggunakan metode purposive sampling. 

Penelitian ini merupakan penelitian kuantitatif dengan menggunakan data sekunder yang diperoleh dari laporan keuangan perusahaan dan database Thomson Reuters. Analisis data dilakukan dengan metode regresi data panel. Hasil penelitian menunjukkan bahwa profitabilitas dan leverage dapat memprediksi financial distress secara signifikan, sedangkan likuiditas tidak dapat memprediksi financial distress.

This study aims to examine the influence of profitability, leverage, and liquidity in predicting financial distress. Financial distress, as the dependent variable, is measured using the Interest Coverage Ratio (ICR). The independent variables consist of profitability proxied by Return on Assets (ROA), leverage proxied by Debt-to-Asset Ratio (DAR), and liquidity proxied by Current Ratio (CR). The subjects of this study are non-financial sector companies classified according to the Global Industry Classification Standard (GICS) and listed on the Indonesia Stock Exchange during the 2015–2019 period. A total of 228 companies were selected as the research sample using the purposive sampling method. 

This research is a quantitative study utilizing secondary data obtained from company financial statements and the Thomson Reuters database. Data analysis was conducted using panel data regression. The results show that profitability and leverage can significantly predict financial distress, while liquidity does not significantly predict financial distress. 

Kata Kunci : Financial Distress, Profitabilitas, Leverage, Likuiditas, Interest Coverage Ratio, Return on Asset, Debt-to-Asset Ratio, Current Ratio.