EFFECT OF NET PROFIT, SALES GROWTH ON OPERATING CASH FLOW AT PT MAYORA INDAH Tbk

Abstract

This research focuses on the effect of net profit and sales growth on operating
cash flow at PT Mayora Indah Tbk during the period 2015 to 2024. The method
used in this study is a quantitative approach with a causal associative research
design. The data analyzed is secondary data collected from the company's annual
financial statements accessed through the official websites of the Indonesia Stock
Exchange (IDX) and PT Mayora Indah Tbk. To analyze the data, multiple linear
regression techniques were used with the help of SPSS software version 27. The
findings of this study show that net income partially has no significant effect on
operating cash flows, which indicates that an increase in net profit is not always
accompanied by an increase in operating cash flow, as net income is accrual and
does not fully reflect the company's actual cash flow. On the other hand, sales
growth has a negative and significant influence on operating cash flow, which
shows that an increase in sales is not always accompanied by an increase in cash
flow due to an increase in operating costs or an increase in receivables. Overall,
net income and sales growth significantly contributed to operating cash flow with
an Adjusted R² value of 0.675, which means that 67.5% of the variation in operating
cash flow could be explained by both variables, while the rest was influenced by
other factors beyond the scope of this study. The results of this study confirm the
importance of effective cash management so that companies are able to maintain
financial stability despite fluctuations in profits and sales.