Analisis Pengaruh Modal Kerja terhadap Net Profit Margin (Studi Kasus pada Perusahaan Industri Barang Konsumsi Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia pada Tahun 2020-2023

Abstract

This study aims to assess the impact of working capital on the Net Profit Margin (NPM) of food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The working capital components examined include cash turnover, accounts receivable turnover, and inventory turnover. A quantitative approach was employed, applying multiple linear regression analysis using secondary data derived from companies’ annual financial statements. The findings indicate that individually and collectively, these working capital components have no statistically significant effect on NPM. The coefficient of determination obtained is 5.3%, implying that the independent variables explain only a small portion of the variation in NPM, with the majority being influenced by external factors not included in the model. This research contributes to managerial insight for optimizing working capital management and serves as a useful academic reference for future studies in similar sectors.