<![CDATA[The purpose of this research is to gather empirical evidence on the impact of working capital management on company performance, with financial constraint serving as an intervening variable. The working capital management variable is measured by 2 independent variables, namely the net trade cycle (NTC) variable, which is measured by receivables + inventory - payables and then compared with Sales, and the cash conversion cycle (CCC) variable, which is measured by comparing trade receivables with sales. The financial constraint variable is measured by the price earning ratio (PER), which is the ratio of the market price per share to the net profit per share. The company's performance variable is measured by return on assets (ROA) by comparing net profit before tax with the company's total assets. For the study's population, 49 consumer goods manufacturing companies listed on the Indonesia Stock Exchange from 2017 to 2021 were used. The sample size was 23 companies based on the sample selection criteria and the purposive sampling method. The results showed that the net trade cycle had no effect on company performance, while the cash conversion cycle and financial constraints had an effect on company performance. The results of Sobel test show that the financial constraint variables can not mediate the effect of net trade cycle, while the financial constraint variables can mediate the effect of cash conversion cycleThe results of Sobel test show that the financial constraint variables can not mediate the effect of net trade cycle, while the financial constraint variables can mediate the effect of cash conversion cycle]]>
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