ANALISIS PENGELOLAAN MODAL KERJA DAN PENGARUH TERHADAP PROFITABILITAS PADA PERUSAHAAN ASTRA INTERNASIONAL Tbk

Abstract

ABSTRACT
This study aims to determine whether working capital management can enhance profitability and efficiency at Astra International Tbk, a manufacturing company listed on the Indonesia Stock Exchange (IDX).
This research adopts a descriptive quantitative method, focusing on the company's financial statements, including the balance sheet and income statement. The data analysis techniques used are working capital management analysis and financial ratio analysis, specifically profitability ratios. The results indicate that the management of working capital, as measured by cash turnover, is relatively good. However, accounts receivable turnover is poor, showing a decline.
Regarding profitability, the net profit margin remains at a satisfactory level, while the return on assets has declined, and the return on equity has dropped significantly. These findings suggest that working capital management and profitability have consistently decreased over the past five years, indicating that the company's working capital has not been optimized to efficiently enhance profitability.
Keywords: Working Capital Management, Profitability, Efficiency