<![CDATA[Abstract: This study was conducted to determine and analyze the effect of innovation strategy and liquidity on the profitability of food and beverage companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The research employed a causal associative explanatory approach using descriptive and verificative methods. The sampling technique was carried out using purposive sampling, resulting in 30 companies that met the research criteria. The data analysis technique used regression analysis to examine the effect of the variables both partially and simultaneously. The results show that, simultaneously, innovation strategy and liquidity have a significant effect on profitability. Partially, innovation strategy has a positive effect on profitability, while liquidity does not show a significant effect. These findings indicate that the profitability of food and beverage companies during the research period is influenced not only by the variables examined but also by other factors outside the research model, such as operational efficiency, marketing strategy, and market conditions. Abstrak. Penelitian ini dilakukan dengan tujuan untuk mengetahui dan menganalisis pengaruh strategi inovasi dan likuiditas terhadap profitabilitas perusahaan makanan dan minuman yang terdaftar di Bursa Efek Indonesia (BEI) periode 2020–2023. Penelitian ini menggunakan pendekatan eksplanasi asosiatif kausal dengan metode deskriptif dan verifikatif. Teknik pengambilan sampel dilakukan dengan metode purposive sampling sehingga diperoleh 30 perusahaan yang memenuhi kriteria penelitian. Teknik analisis data menggunakan analisis regresi untuk menguji pengaruh variabel secara parsial maupun simultan. Hasil penelitian menunjukkan bahwa secara simultan strategi inovasi dan likuiditas berpengaruh signifikan terhadap profitabilitas. Secara parsial, strategi inovasi berpengaruh positif terhadap profitabilitas, sedangkan likuiditas tidak menunjukkan pengaruh signifikan. Temuan ini mengindikasikan bahwa profitabilitas perusahaan makanan dan minuman pada periode penelitian lebih dipengaruhi oleh faktor lain di luar model penelitian, seperti efisiensi operasional, strategi pemasaran, serta kondisi pasar. Keywords: Innovation Strategy, Liquidity, Profitability.]]>
