The purpose of this research to describe the condition of working capital and effective working capital management to improve profitability PT. Indospring Tbk. The method used in this research is descriptive method with quantitative approach. The results of this study indicate that based on the analysis of working capital management companies fluctuated on cash management, it shows that the ability of companies managing cash flow is less stable. Management of accounts receivable decreased so that the longer billing period but less than the average age of accounts receivable. Management of supply has increased so funds that are embedded in the inventory is getting smaller. Current debt management is also increasingly rising every year which shows that the velocity of the current liability is getting better every year. Analysis of profitability ratios each year has decreased, it indicates that the company's ability to generate profit decreases. The decline in profitability occurred because of rising operating ratio, resulting in further increase operating costs.