<![CDATA[This study aims to analyze and empirically test the relationship between working capital and the levels of liquidity and profitability in publicly listed cement sub-sector companies on the Indonesia Stock Exchange (BEI) during 2012–2016. The research employs a quantitative associative approach with an ex post facto design. Secondary data were gathered from semi-annual financial statements of three sample companies selected via purposive sampling: PT Indocement Tunggal Prakarsa Tbk, PT Semen Indonesia (Persero) Tbk, and PT Holcim Indonesia Tbk, yielding a total of 30 observations. Data analysis methods include descriptive statistics, Kolmogorov-Smirnov normality test, simple linear regression analysis, and Pearson Product Moment correlation test. The results indicate that working capital has a weak negative correlation with liquidity (Current Ratio) at r = -0.232 and is statistically non-significant (t-calculated = -1.263 < t-table = 2.048). Conversely, working capital demonstrates a weak positive correlation with profitability (Return on Assets) at r = 0.258, which is also non-significant (t-calculated = 1.413 < t-table = 2.048). In conclusion, working capital does not significantly affect either liquidity or profitability in Indonesian cement companies during the observation period. The findings imply that cement companies need to manage working capital efficiently and consider other financial factors to improve liquidity and profitability.]]>
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