This study aims to analyze the effect of financial leverage, profitability, liquidity, managerial ownership, institutional ownership, and inventory turnover to financial distress. The dependent variable used in this study is financial distress proxied by Z-Score, while the independent variables are financial leverage, profitability, liquidity, managerial ownership, institutional ownership, and inventory turnover. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange in the period of 2013 to 2015. The samples in this study use purposive sampling method and obtained 45 samples observation. Data analysis method used in this research is multiple linear regression analysis. The results of the analysis show that managerial ownership have effects on financial distress. Financial leverage, profitability, liquidity, institutional ownership, and inventory turnover have no effect on financial distress.