The Effect of ROA, ROE, NPM, EPS, and DER on Stock Prices in Palm Oil Companies Listed on the IDX (2021-2023)
Keywords:
ROA, ROE, NPM, EPS, DER, Stock PriceAbstract
This study aims to examine the effect of Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), Earnings per Share (EPS), and Debt to Equity Ratio (DER) on stock prices of palm oil sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The data source used in this research is secondary data consisting of annual financial reports and year-end closing stock prices. A purposive sampling technique was applied in selecting samples with the criteria of companies that consistently published annual financial statements during the observation period, resulting in a number of samples that met the research requirements. Data analysis was carried out using classical assumption tests and multiple linear regression, including partial t-test, simultaneous F-test, and the coefficient of determination (R²) with the assistance of IBM SPSS Statistics version 25. The results of the study indicate that partially ROA, ROE, and NPM have no significant effect on stock prices, EPS has a significant positive effect, while DER has a significant negative effect. Simultaneously, ROA, ROE, NPM, EPS, and DER significantly influence stock prices of palm oil sub-sector companies. These findings imply that investors should pay close attention to EPS and DER indicators when making investment decisions in palm oil sub-sector stocks on the IDX.
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