ANALISIS KINERJA KEUANGAN PERUSAHAAN MENGGUNAKAN CASH CONVERSION CYCLE (Studi Empiris pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2019-2023)

Abstract

This research aims to analyze the company’s financial performance using the Cash Conversion Cycle to find out whether the company can achieve good financial performance. The variables used in this research are Return on Asset (ROA), Days Sales Outstanding (DSO), Days Inventory Outstanding (DIO), and Days Payable Outstanding (DPO). This research used secondary data obtained from company annual reports with a population that includes all food and beverage companies listed on the Indonesia Stock Exchange for the 2019-2023 period. The sample used in this research was selected using a purposive sampling method, resulting in 7 company samples. This research uses industrial analysis and quantitative descriptive technique to provide an overview of the factors that influence CCC changes in profitability. The results of this research include that the food and beverage industry has had fluctuating graphs for 5 years. The CCC variable which is proxied by DSO, DIO, and DPO provides changes to ROA. If linked to several theories, the analysis of the DSO variable on ROA is in accordance with Agency Theory and Trade Off Theory, while the DIO variable on ROA is in accordance with Agency Theory and Resource Based Theory. Apart from that, the analysis of the DPO variable on ROA is in accordance with Agency Theory and Pecking Order Theory.