PENGARUH PERPUTARAN KAS, PERPUTARAN PIUTANG DAN PERPUTARAN PERSEDIAAN TERHADAP PROFITABILITAS PADA PERUSAHAAN SEKTOR FARMASI YANG TERDAFTAR DI BEI TAHUN 2019-2024

This study was conducted to analyze the effect of cash turnover, accounts receivable turnover, and inventory turnover on profitability in pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2024 period. Profitability was measured using the Return on Assets (ROA) indicator. The research data came from the financial statements of five pharmaceutical companies over a six-year period, which were analyzed using multiple linear regression methods. The research findings revealed that collectively, the three independent variables significantly influenced profitability. Individually, cash turnover and accounts receivable turnover had a positive and significant effect on profitability, while inventory turnover showed no significant effect. Among the variables tested, cash turnover was the factor with the greatest influence. Based on these results, the study recommends that company management focus efforts on improving the efficiency of cash and accounts receivable management to drive increased profitability.