This research determines the effect of profitability, financial risk, public ownership, and dividend payout ratio on the practice of income smoothing. The population in this research were companies in the consumer goods industry sector listed on Indonesian Stock Exchange. The sampling technique used was purposive sampling with certain criteria that obtained 120 observation data of companies in the consumer goods sector during 2015-2018 periods. The data collected were processed using logistic regression method. The result show that: profitability, public ownership, and dividend payout ratio have a negative effect on the practice of income smoothing. financial risk has not effect on the practice of income smoothing.