Analisis Pengaruh Profitabilitas, Likuiditas, dan Leverage terhadap Financial Distress pada Perusahaan Transportasi yang Terdaftar di BEI Tahun 2018-2020

Abstract

Financial distress is a condition where management is unable to overcome financial problems that cause a successive decline in financial performance before the company is declared bankrupt. This study has something to be achieved, namely analyzing the possibility of financial distress in companies with financial ratios as indicators, including profitability ratios, liquidity ratios, and leverage ratios. The sample taken is a transportation company listed on the Indonesia Stock Exchange for the period 2018-2020. Purposive sampling was used as a sample selection method and 13 companies were obtained that matched the criteria proposed by the author. Data analysis with logistic regression using IBM SPSS version 25. As a result, the profitability represented by ROA has no effect on financial distress because when profits decline, there are still other funds from both internal and external sources to cover liabilities. Liquidity represented by the current ratio has no effect on financial distress because the companies have the ability to fund current debt with total assets. Meanwhile, leverage represented by DAR has a significant effect on financial distress. The solution that can be done by transportation companies with consecutive losses for 2 years is to be disciplined in paying short-term debts and efficiently use debt capacity so that companies can get large profits from their debts so that financial difficulties can be avoided.