Tujuan dari penelitian adalah untuk menganalisis model terkait Pengaruh Kapasitas Operasional, Pertumbuhan Penjualan, Struktur Kepemilikan dan Profitabilitas terhadap Financial Distress. Metode penelitian yang digunakan dalam penelitian ini yaitu metode deskriptif dan verifikatif. Populasi penelitian ini adalah Sub sektor Telekomunikasi terdaftar di Bursa Efek Indonesia tahun 2019-2023 sebanyak 23 perusahaan atau sebanyak 110 data pengamatan. Sampel yang digunakan sebanyak 20 perusahaan atau sebanyak 100 data pengamatan dengan metode teknik quota sampling. Teknik pengumpulan data menggunakan teknik observasi non partisipan. Adapun teknik analisis data melalui teknik analisis data menggunakan analisis data panel dan menggunakan software Eviews 12. Hasil penelitian, hasil goodness of fit (uji f) menunjukkan model fit. Serta hasil uji parsial (uji t) menunjukkan bahwa Pengaruh Kapasitas Operasional, Pertumbuhan Penjualan, Struktur Kepemilikan dan Profitabilitas berpengaruh negatif dan signifikan terhadap financial distress.
Kata Kunci: Financial Distress, Kapasitas Operasional, Pertumbuhan Penjualan,
Kepemilikan Manajerial, Kepemilikan Institusional dan Profitabilitas.

The purpose of the research was to analyze the model related to the influence of Operational Capacity, Sales Growth, Ownership Structure, and Profitability on Financial Distress. The research method used in this study was descriptive and verificative methods. The population of this research consisted of 23 telecommunications subsector companies listed on the Indonesia Stock Exchange from 2019 to 2023, totaling 110 observation data points. The sample used comprised 20 companies or 100 observation data points, employing quota sampling techniques. Data collection techniques utilized non-participant observation. The data analysis technique involved panel data analysis using Eviews 12 software. The research results indicated that the goodness of fit (F-test) showed a model fit. Additionally, the partial test results (t-test) demonstrated that the influence of Operational Capacity, Sales Growth, Ownership Structure, and Profitability had a negative and significant effect on financial distress.
Keyword : Financial Distress, Operating Capacity, Sales Growth, Managerial Ownership, Institutional Ownership and Profitability.