<![CDATA[This study analyzes working capital efficiency and profitability at PT Wijaya Karya Beton Tbk (WTON) during 2021-2024 using descriptive quantitative documentary analysis of audited consolidated financial statements. Working capital is assessed through Net Working Capital (NWC), Changes in Working Capital (CWC), and Working Capital Turnover (WCT), while profitability is measured by ROA and ROE using consolidated profit. NWC remained positive and increased to Rp887.80 billion in 2024. WCT peaked at 8.87 times in 2022, then declined to 6.40 and 5.51 times in 2023-2024. ROA and ROE also peaked in 2022 at 1.81% and 4.70%, fell sharply in 2023, and recovered to 0.89% and 1.74% in 2024. The pattern shows that a larger working capital buffer can coexist with weaker turnover efficiency and profitability below its prior peak, so the ratios should be interpreted jointly rather than causally.]]>
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