Penelitian ini bertujuan untuk mengetahui, menganalisis, dan mendapatkan fakta empiris dan menghasilkan model terkait pengaruh sales growth, operating capacity, free cash flow, struktur modal, dan likuiditas terhadap financial distress (studi empiris pada perusahaan Sub Sektor Consumer Services yang terdaftar di Bursa Efek Indonesia tahun 2018-2022). Metode yang digunakan dalam penelitian ini yaitu metode deskriptif dan verifikatif. Populasi dari penelitian ini sebanyak 48 perusahaan dengan menggunakan teknik purposive sampling diperoleh sampel sebanyak 31 perusahaan. Teknik pengumpulan data yang digunakan adalah observasi tidak langsung dan teknik analisis data menggunakan regresi data panel dengan Eviews versi 13. Hasil penelitian ini menunjukkan bahwa sales growth berpengaruh negatif signifikan terhadap financial distress, operating capacity berpengaruh negatif signifikan terhadap financial distress, free cash flow berpengaruh negatif signifikan terhadap financial distress, struktur modal berpengaruh positif tidak signifikan terhadap financial distress, dan likuiditas berpengaruh negatif signifikan terhadap financial distress.
Kata Kunci: Financial Distress, Sales Growth, Operating Capacity, Free Cash Flow, Struktur Modal, Likuiditas.

This study aims to know, analyze, and obtain empirical facts and produce models related to the effect of sales growth, operating capacity, free cash flow, capital structure, and liquidity on financial distress (empirical study on Consumer Services Sub-Sector companies listed on the Indonesia Stock Exchange in 2018-2022). The methods used in this study are descriptive and verifiative methods. The population of this study was 48 companies using purposive sampling techniques obtained a sample of 31 companies. The data collection techniques used are indirect observation and data analysis techniques using panel data regression with Eviews version 13. The results of this study show that sales growth has a significant negative effect on financial distress, operating capacity has a significant negative effect on financial distress, free cash flow has a significant negative effect on financial distress, capital structure has a significant positive effect on financial distress, and liquidity has a significant negative effect on financial distress.
Keywords: Financial Distress, Sales Growth, Operating Capacity, Free Cash Flow, Capital Structure, Liquidity.