PENGARUH RETURN ON ASSETS, NET PROFIT MARGIN, DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM PADA PERUSAHAAN TEKSTIL DAN GARMEN YANG TERDAFTAR DI BEI PERIODE 2020-2024
DOI:
https://doi.org/10.33603/ejpe.v14i2.12043Abstract
This study aims to examine the influence of Return on Assets (ROA), Net Profit Margin (NPM), and Debt to Equity Ratio (DER) on stock prices, both partially and simultaneously, in textile and garment sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This study employs a quantitative approach using purposive sampling. From a population of 21 companies, 8 companies were selected based on predetermined criteria. The data was analyzed using multiple linear regression analysis. The results show that, partially, ROA has a significant positive effect on stock prices, while NPM and DER do not have a significant effect. However, simultaneously, ROA, NPM, and DER jointly have a significant effect on stock prices. The coefficient of determination (R²) is 0.422, indicating that 42.2% of stock price variation can be explained by the three independent variables, while the remaining 57.8% is influenced by other variables outside the model. These findings imply that profitability, particularly ROA, plays a more important role in influencing investor decisions compared to NPM and DER. Therefore, investors are advised to place greater emphasis on efficiency in asset utilization when making investment decisions, while companies should focus on improving asset performance to enhance market value.
Keywords: Return on Asset; Net Profit Margin; Debt to Equity Ratio; and Stock Price.
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