<![CDATA[This study aims to analyze the effect of Net Profit Margin (NPM), Debt to Equity Ratio (DER), and Current Ratio (CR) on the Interest Coverage Ratio (ICR) as an indicator of financial distress, with firm size as a moderating variable. This quantitative study uses secondary data obtained from food and beverage sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. Using purposive sampling, 16 companies were selected, resulting in a total of 80 observations. The data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA) to examine both the direct and moderating effects of the variables. The results show that NPM, DER, and CR have a positive and significant effect on ICR. Furthermore, firm size strengthens the effects of NPM, DER, and CR on ICR. These findings indicate that higher profitability, effective debt management, and stronger liquidity contribute to improving a company’s ability to meet its interest obligations. In addition, larger firms tend to have greater resources and financial stability, enabling them to manage financial risks more effectively. Thus, improving financial performance and maintaining an adequate firm size can enhance interest-paying capacity and reduce the potential risk of financial distress.]]>
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