Perputaran Modal Kerja dan Perputaran Kas terhadap Margin Laba Bersih Pada Sektor Energi yang Terdaftar pada BEI 2021-2024

Syifa Fauziah; Rani Kurniasari; Teni Agustina

doi:10.55606/jimek.v5i3.7987

Authors

Syifa Fauziah Universitas Bina Sarana Informatika
Rani Kurniasari Universitas Bina Sarana Informatika
Teni Agustina Universitas Bina Sarana Informatika

DOI:

https://doi.org/10.55606/jimek.v5i3.7987

Keywords:

Cash Turnover, Cash, Energy Sector, Net Profit, Work Cap

Abstract

Listed on the Indonesia Stock Exchange (IDX), the energy sector is a key driver of national economic development as it drives strategies to support domestic energy needs and industrial growth. However, this sector is also highly vulnerable to global energy price fluctuations, changes in government regulations, and imbalances between energy demand and supply, which directly impact companies' operational and financial stability. In these dynamic conditions, efficient internal resource management is key to maintaining and improving company financial performance, particularly through the management of working capital turnover and cash turnover. This study aims to analyze the effect of working capital turnover and cash turnover on net profit margins in energy sector companies listed on the IDX during the 2021–2024 period. The method used in this study is a quantitative approach with secondary data obtained from annual financial reports. The sampling technique used was a purposive sampling method to ensure the samples taken were relevant to the research criteria. The results show that the working capital turnover variable (X1) has no significant effect on net profit margin (Y), while cash turnover (X2) actually shows a significant negative effect on net profit margin. Simultaneously, these two variables significantly influence net profit margin with a coefficient of determination (R²) of 26.6%. This indicates that 26.6% of the variation in net profit margin can be explained by working capital turnover and cash turnover, while the remaining 73.4% is influenced by other factors not analyzed in this study, such as operational efficiency, cost structure, global energy prices, or corporate risk management. This study suggests that suboptimal cash management can negatively impact company profitability, necessitating a more efficient cash management strategy in the energy sector.

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