Abstract :
This research is aimed to examine the effect of Inventory Conversion
Period, Receivable Collecting Period and Payable Deferral Period to Company
Profitability in tobacco companies. The population of this research are tobacco
companies listed on the Indonesia Stock Exchange with period of research 2011 ?
2015. Samples are determined by using Purposive Sampling method. The samples
obtained are 3 companies. The hypothesis is examined by using Multiple
Regression Analysis method supported by SPSS Ver.17.0. The result of
examination showed that the first hypothesis (H1) states that the Inventory
Conversion Period which has negative effect to profitability, is declined. The
second hypothesis (H2) states that the Receivable Collecting Period which has
negative effect to profitability, is accepted. The third hypothesis (H3) states that
the Payable Deferral Period which has positive effect to profitability, is declined.
Key words : Working Capital, Inventory Conversion Period, Receivable Collecting Period, Payable Deferral Period, Profitability, Return On Assets (ROA), Operating Profit Margin (OPM) ,Gross Profit Margin (GPM) and Net Profit Margin (NPM).