This paper aims to predict profitability using two types of operating cash flow ratio. In a cross sectional study, the authors gathered data from manufacturing companies listed under basic industry and chemicals subsector on Indonesia Stock Exchange in 2013. To be included in the sample, each company must have available all required data for the test period and outliers are determined and removed. Accordingly, from the total population of 60 companies, the final sample contains 40 companies. The authors find that first, greater current cash debt coverage ratio worsens return on assets. Secondly, the greater the cash debt coverage ratio, the higher the return on assets and return on equity. Further, the authors' findings suggest that cash debt coverage ratio has more predictive ability relative to current cash debt coverage ratio on profitability. Surprisingly, it was found that both current cash debt coverage ratio and cash debt coverage ratio have no predictive ability on earnings per share. Overall, the evidence highlights the influence of financial liquidity and financial flexibility on profitability as measured by return on assets and return on equity. This study contributes to current understanding of the usefulness of operating cash flow ratios in predicting profitability.Keywords: cash debt coverage ratio, current cash debt coverage ratio, financial flexibility, financial liquidity, profitability Cash flow is a very important element for a company's success or failure. Creditors examine the cash flow statement beginning by discovering net cash provided by operating activities. A large amount of this component implies that a company is qualified to generate sufficient cash from operations to pay its obligations without additional borrowing (Kieso, Weygandt, & Warfield, 2011). This research is concerned with the analysis of operating cash flow based measures to predict profitability of Indonesia's basic industry and chemicals subsector.Many cash flow ratios were discussed and analyzed in prior studies for evaluating performance (e.g. Ibarra, 2009;Jooste, 2006;Kirkham, 2012). Ibarra (2009) analyzed 16 cash flow ratios as tools for evaluating financial position of the three manufacturing companies in the Philippines for the years 2004 to 2007. Four years' intracompany ratios were analyzed to find out if the ratios can be used to assess company performance. The findings show that cash flow ratios can be used as tools for financial analysis of the manufacturing companies, however, the ratios were not used as predictor variables. A comparative study was conducted by Jooste (2006)