Pengaruh Efisiensi Operasional terhadap Profitabilitas Perusahaan Sektor Konsumer yang Terdaftar di Bursa Efek Indonesia Periode 2020-2023

Ridho Efansyah Putra Ranna (Universitas Tanjungpura)
Ayu Puspita Sari (Universitas Tanjungpura Pontianak)
Muhammad Fahmi (Universitas Tanjungpura Pontianak)

Jurnal Riset Ekonomi dan Akuntansi
Vol. 4 No. 3 (2026): September: JURNAL RISET EKONOMI DAN AKUNTANSI

This study aims to examine the effect of operational efficiency on profitability in consumer cyclical companies listed on the Indonesia Stock Exchange during 2020–2023. Operational efficiency is proxied by Total Asset Turnover (TATO), Operating Expense Ratio (OER), and Working Capital Turnover (WCT), while profitability is measured using Return on Assets (ROA). Firm Size is included as a control variable. This study applies a quantitative approach using multiple linear regression analysis with SPSS 27. The sample consists of 18 companies with 72 observations selected through purposive sampling. The results indicate that TATO has a positive and significant effect on ROA, while OER and WCT have no significant effect on ROA. Firm Size has a negative and significant effect on ROA. Simultaneously, TATO, OER, WCT, and Firm Size significantly affect ROA. The findings indicate that asset utilization efficiency is the primary factor influencing profitability in consumer cyclical companies during the post-pandemic recovery period.