Penelitian ini meneliti faktor yang berpengaruh dalam mempresiksi financial distress. Data yang digunakan sebagai sampel adalah perusahaan non-keuangan yang tercatat di Bursa Efek Indoensia (BEI) pada periode 2008-2019 dengan 2.088 total observasi. Penelitian ini bertujuan menganalisis pengaruh rasio profitabilitas, rasio likuiditas, rasio leverage, rasio arus kas, faktor pasar, dan faktor ekonomi makro dalam memprediksi financial distress pada perusahaan non-keuangan. Regresi logistik biner digunakan untuk mengestimasi signifikansi pengaruh variabel-variabel independen dalam memprediksi financial distress. Hasil penelitian ini menunjukkan bahwa rasio likuiditas yang terdiri dari rasio current assets to total liabilities, current assets to current liabilities, dan working capital to total assets, rasio leverage yaitu total equity to total liabilities, dan rasio arus kas yaitu cash flow from operation to total assets berpengaruh signifikan terhadap financial distress. Selain itu, hasil penelitian ini juga menunjukkan market value of equity dan harga saham merupakan faktor pasar yang signifikan terhadap financial distress.

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This study examines the factors that influence financial distress prediction. The data used as a sample are non-financial firms listed on the Indonesian Stock Exchange (IDX) in the period 2008-2019 with 2,088 total observations. This study aims to analyze the effect of profitability ratios, liquidity ratios, leverage ratios, cash flow ratios, market factors, and macroeconomic factors in predicting financial distress in non-financial firms. Binary logistic regression is used to estimate the significance of the effect of independent variables in predicting financial distress. The results of this study indicate that the liquidity ratio consists of the ratio of current assets to total liabilities, current assets to current liabilities, and working capital to total assets, leverage ratio namely total equity to total liabilities, and cash flow ratio namely cash flow from operation to total assets have a significant effect on financial distress. In addition, the results of this study show that market value of equity and stock prices are significant market factors for financial distress.