PENGARUH MODAL KERJA, VOLUME PENJUALAN, DAN UKURAN PERUSAHAAN TERHADAP KINERJA KEUANGAN PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA 2021-2025

Abstract

This study aims to analyze the effect of working capital proxied by the Current Ratio (CR), sales volume, and firm size on financial performance proxied by Return on Asset (ROA) in pharmaceutical companies listed on the Indonesia Stock Exchange during the 2021-2025 period. The research method used is quantitative, employing secondary data obtained from the financial statements of companies. The data analysis techniques include descriptive statistics, classical assumption tests, multiple linear regression, t-tests, F-tests, and coefficient of determination (Adjusted R Square). The results indicate that, individually, working capital has a positive and significant on financial performance, sales volume has positive and significant effect on financial performance, and firm size has a negative and significant effect on financial performance. Simultaneously, these there independent variables have a significant effect on financial performance, with an Adjusted R Square value of 0,610 or 61,0%. These findings contribute to the understanding of companies, investors, and academics regarding the internal factors that influence financial performance, particualry within the pharmaceutical industry.