PENGARUH CURRENT RATIO, DEBT TO EQUITY RATIO, DAN RETURN ON ASSET RATIO TERHADAP HARGA SAHAM PADA PERUSAHAAN MAKANAN DAN MINUMAN YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

The purpose of this study is to analyze the effect of the Current Ratio, Debt to Equity Ratio, and Return on Assets, both partially and simultaneously, on stock prices of food and beverage companies listed on the Indonesia Stock Exchange. This research is classified as quantitative research. The operational variables in this study include the Current Ratio, Debt to Equity Ratio, Return on Assets, and stock prices. The data analysis technique used is descriptive quantitative analysis. The results of the study show that based on the partial regression test (t-test), the Current Ratio (X1) does not have a significant effect on stock prices (Y) because the t-value is less than the t-table value (-0.966 < 1.701) and the significance value is 0.342 > 0.05. The Debt to Equity Ratio (X2) also does not have a significant effect on stock prices (Y) because the t-value is less than the t-table value (0.224 < 1.701) and the significance value is 0.824 > 0.05. Meanwhile, Return on Assets (X3) has a significant effect on stock prices (Y) because the t-value is greater than the t-table value (3.721 > 1.701) and the significance value is 0.001 < 0.05. Simultaneously, the variables Current Ratio (X1), Debt to Equity Ratio (X2), and Return on Assets (X3) have a significant effect on stock prices (Y), where the F-value is greater than the F-table value (6.172 > 2.95) with a significance value of 0.002 < 0.05. The coefficient of determination (Adjusted R Square) is 0.334 or 33.4%. This indicates that the independent variables—Current Ratio (X1), Debt to Equity Ratio (X2), and Return on Assets (X3)—are able to explain 33.4% of the variation in stock prices (Y), while the remaining 66.6% is influenced by other factors not included in the regression model. Therefore, it can be concluded that the influence of these variables on stock prices is relatively low.
Keywords: Current Ratio, Debt to Equity Ratio, Return on Assets, Stock Price