The purpose of this study was to determine the effect between independent variables Liquidity, Leverage, Profitability, and Operating Capacity with the dependent variable Financial Distress. This study uses secondary data in the form of financial statements and annual annual reports on manufacturing companies for the 2014-2017 period. The population in this study is a manufacturing company in which there are sampling criteria. The number of samples taken using purposive sampling method, namely manufacturing companies that publish their reports during the 2014-2017 research period obtained 404 total data. The analytical tool used for hypothesis testing is SPSS. This study aims to analyze the effect of Liquidity, Leverage, Profitability, and Operating Capacity on the condition of financial distress in manufacturing companies in 2014-2017. The results of this study indicate that Liquidity has a negative and not significant effect on financial distress conditions, Leverage has a negative and significant effect on financial distress, Profitability has a significant positive effect on financial distress and Operating Capacity has a positive and significant influence on Financial distress.