Pengaruh Likuiditas, Profitabilitas, dan Leverage terhadap Financial Distress pada Perusahaan Sektor Healthcare yang Terdaftar di BEI Tahun 2021–2023

Abstract

The achievement of this study is to analyze whether liquidity, profitability, and financial leverage have an effect on financial distress in health sector companies listed on the Indonesia Stock Exchange (IDX) between 2021 and 2023. By utilizing secondary data obtained from the company's annual financial statements, this study applies a quantitative research method with an inferential statistical analysis approach. The research sample was selected using the purposive sampling technique in accordance with the criteria that had been set. The results show that profitability and liquidity have a negative and significant influence on financial distress, which means that the better the company's ability to generate profits and meet its short-term obligations, the lower the risk of experiencing financial difficulties. In contrast, leverage does not show a significant partial effect on financial distress. However, simultaneously these three variables have been shown to have a significant effect on financial distress. These findings indicate that the company's financial condition is also influenced by other factors beyond the variables studied. The results of the research are expected to be considered for management, investors, and stakeholders in making financial decisions and company strategies.