<![CDATA[This research analyzed the impact of debt levels, net working capital, profitability, and company size on cash holdings. The research variables used sample data from manufacturing entities specializing in the food and beverage sector listed on the Indonesia Stock Exchange for 2023-2025. The sample was obtained through purposive sampling, based on specific conditions, such as entities consistently publishing financial reports with positive profits during the 2023-2025 period. The resulting sample consisted of 177 data sets, consisting of 59 entities over three years. However, there were 15 outliers (45 data sets), resulting in 132 data sets, or 44 entities, over three years. The method used in this research was multiple regression analysis. The findings illustrate that debt levels, net working capital, profitability, and company size simultaneously impact cash holdings. Meanwhile, the partial correlations indicate that net working capital and profitability have a positive impact on cash holdings, while debt levels and company size have no impact on cash holdings]]>
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