PENGARUH FREE CASH FLOW, LIKUIDITAS, DAN PERTUMBUHAN PENJUALAN TERHADAP KINERJA KEUANGAN PERUSAHAAN (STUDI PERUSAHAAN FOOD AND BEVERAGE YANG TERDAFTAR DI BURSA EFEK INDONESIA )

Abstract

This research aimed to find out the effect of Free Cash Flow (FCF), liquidity, and sales growth on companies’ financial performance. While the population was Food and Beverages companies which were listed on Indonesia Stock Exchange (IDX) during 2016- 2019. The research was quantitative. Moreover, the data collection technique used purposive sampling, in which the sample was based on criteria given. In line with that, there were 11 Food and Beverages companies which were listed on IDX as the sample. Totally, there were 44 data during 4 years. Furthermore, the data were companies’ annual reports. Meanwhile, free cash flow was measured by FCF, liquidity was measured by Current Ratio (CR), sales growth was measured by sales growth (PP), and financial performance was measured by Return On Asset (ROA). Furthermore, the data analysis technique used descriptive statistics, classical assumption test, multiple linear regression, and hypothesis test with SPSS 25. In addition, the research result concluded that (1) FCF had a positive effect on companies’ financial performance, (2) Liquidity had a positive effect on companies’ financial performance, (3) sales growth did not affect companies’ financial performance.
Keywords: free cash flow, liquidity, sales growth, companies’ financial performance