This study aims to prove the effect of leverage, profitability, liquidity, and institutional ownership on financial distress. This research uses quantitative research. Sources of data used in this study using secondary data obtained from the company's annual report. Financial distress in this study was measured using the Altman z-score. The population in this study are companies in the consumer non-cylicals sector listed on the Indonesia Stock Exchange in 2017-2020. The sampling method used is purposive sampling and obtained a sample of 169 of 44 companies that have met the criteria. The data analysis method used multiple regression analysis using the Statistical Package For Social Science (SPSS) version 23. Based on the results of the study showed that (1) Leverage has a negative effect on financial distress (2) Profitability has a positive effect on financial distress (3) Liquidity has a positive effect on financial distress (4) Institutional ownership has no effect on financial distress.