ANALISIS PENGARUH KINERJA KEUANGAN TERHADAP HARGA SAHAM PERUSAHAAN SEKTOR CONSUMER NON-CYCLICALS YANG TERCATAT DI BURSA EFEK INDONESIA PERIODE TAHUN 2022–2024
DOI:
https://doi.org/10.51878/cendekia.v6i4.15663Keywords:
Current Ratio, Debt To Equity Ratio, Return On Equity, Harga Saham, Consumer Non-CyclicalsAbstract
ABSTRACT
Stock prices reflect investors’ assessments of a company’s financial condition and future prospects, including its ability to manage liquidity, capital structure, and profitability. This study aims to examine the effects of the Current Ratio (CR), Debt to Equity Ratio (DER), and Return on Equity (ROE) on the stock prices of companies in the consumer non-cyclicals sector listed on the Indonesia Stock Exchange during the 2022–2024 period. A quantitative approach was employed using secondary data obtained from companies’ annual financial statements. The sample was selected using purposive sampling, yielding a total of 133 observations. The data were analyzed using multiple linear regression with IBM SPSS Statistics. The partial test results indicate that CR has a positive but statistically insignificant effect on stock prices, with a significance value of 0.974. DER exhibits a negative and statistically insignificant effect, with a significance value of 0.927. In contrast, ROE has a positive and statistically significant effect on stock prices, with a reported significance value of 0.000. Simultaneously, CR, DER, and ROE have a statistically significant effect on stock prices, with an F-statistic of 16.400 and a significance value of 0.000. The Adjusted R Square of 25.9% indicates that the model has limited explanatory power. These findings highlight profitability as a relevant indicator for explaining stock prices within the study sample.
ABSTRAK
Harga saham mencerminkan penilaian investor terhadap kondisi dan prospek perusahaan, termasuk kemampuan perusahaan dalam mengelola likuiditas, struktur pendanaan, dan profitabilitas. Penelitian ini bertujuan menganalisis pengaruh Current Ratio (CR), Debt to Equity Ratio (DER), dan Return on Equity (ROE) terhadap harga saham perusahaan sektor consumer non-cyclicals yang terdaftar di Bursa Efek Indonesia selama periode 2022–2024. Penelitian menggunakan pendekatan kuantitatif dengan memanfaatkan data sekunder dari laporan keuangan tahunan perusahaan. Sampel ditentukan melalui teknik purposive sampling, dengan total 133 observasi, sedangkan pengujian dilakukan menggunakan regresi linear berganda melalui perangkat lunak IBM SPSS Statistics. Hasil pengujian parsial menunjukkan bahwa CR memiliki arah pengaruh positif, tetapi tidak signifikan terhadap harga saham dengan nilai signifikansi 0,974. DER menunjukkan arah pengaruh negatif dan tidak signifikan dengan nilai signifikansi 0,927. Sebaliknya, ROE berpengaruh positif dan signifikan terhadap harga saham dengan nilai signifikansi yang dilaporkan sebesar 0,000. Secara simultan, CR, DER, dan ROE berpengaruh signifikan terhadap harga saham, dengan nilai F sebesar 16,400 dan signifikansi 0,000. Nilai Adjusted R Square sebesar 25,9% menunjukkan bahwa kemampuan penjelasan model masih terbatas. Temuan ini menegaskan bahwa profitabilitas merupakan indikator yang relevan dalam menjelaskan harga saham pada sampel penelitian.
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