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PENGARUH PERPUTARAN MODAL KERJA TERHADAP KINERJA KEUANGAN PADA PT. PINDAD (PERSERO)

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The purpose of this study was to determine the working capital tumover, financial performance, and working capital turnover effect on the finencial [Brformance ofPT . PINDAD (Persero ). This research was carried out by using descriptive method, the method of collecting, presenting, and analyzing dala based on the real stare of the case, and also draw conclusions. The data used are the balance sheet and income statement of PT . PINDAD ( Persero ). Data analysis using regression analysis, hypothesis testing and correlation analysis also anelyzes the coefficient of determination . Based on the survey results revealed that the turaover of working capital of PT . PINDAD ( Persero ) in good condition, because the company has to manage its working capital effectively. Average working capital turnover from year 2009-2013 is 16.8 times per year. Working capital tumover is highest in 2009 amormted to 25.71 times . Financial performance is measured by using the Retum On lnvestment. The state of the financial performance in good condition, can be seen from the ROI is positive, and the company also has been effective to maximize its assets, visible from a great ROI. Average ROI of 2.95 or'o pr year. ROI is the highest in 2011 at3.38% - From the rcsults obtained regression equation Y : -2.027 + 0.436 x ' then the Pearson correlation coefficient r : 0.672 to produce the sense that there is a strong and positive relationship between the two variables. After t test known t and t table = 2.332: 2.776, so t < t table, u{rich means there is no sigrificant relationship between working capital ttnnover on the financial performance, urhich means that Ho accepted and Ha is rejected. Value ofKd = 45 , 15 % indicated that the effect of rotation on the financial performance of working capital amounted to 45.15 % .