Investors in investing their capital always expect high stock returns. Financial statements, especially those relating to information on changes in operating cash flows and company accounting profits, are one of the most important pieces of information that can be used by investors to assess company performance. The aim of this study is to provide empirical evidence regarding the influence of operating cash flow and accounting profit on stock returns. The data in this study is secondary data obtained from the annual financial reports of Indonesian Stock Exchange (IDX) companies. This research was conducted using a population of companies engaged in manufacturing, namely in the consumer goods industry sector which are listed on the Indonesian Stock Exchange (IDX) with an observation period of 2018-2020. Of the 52 companies recorded as members of the population, only 23 companies were used as the research sample. The results of this study are that not all of the independent variables used in this study have a significant influence on stock returns. Partially, accounting profit has a significant effect on stock returns, while the operating cash flow variable partially has no effect on stock returns. But simultaneously from the calculation results obtained a coefficient of determination of 0.117. This shows that the influence of operating cash flow and accounting profit variables on stock returns which can be explained by this equation model is 11.7% and the remaining 88.3% is influenced by other factors not included in the regression model in this study. The advice that can be given is that investors need to pay attention to accounting profit in investing in manufacturing companies in the consumer goods industry sector, besides operating cash flow and accounting profit there are other factors that influence stock returns and further research is expected to increase the observation period and other variables.
Keywords: Stock return, operating cash flow, accounting profit, manufacturing, goods and consumption sector