ANALISIS PENGARUH RETURN ON ASSET (ROA), CURRENT RATIO (CR), DEBT TO EQUITY RATIO (DER) DAN PRICE EARNING RATIO (PER) TERHADAP HARGA SAHAM PT INDOSAT, TBK (PERIODE TAHUN, 2012-2023 PER KUARTAL)

Abstract

This study aims to examine and analyze (1) the effect of Return on Assets (ROA) on stock prices, (2) the effect of the Current Ratio (CR) on stock prices, (3) the effect of the Debt-to-Equity Ratio (DER) on stock prices, (4) the effect of the Price-Earnings Ratio (PER) on stock prices, and (5) the combined effect of ROA, CR, DER, and PER on stock prices. The data used in this study were obtained from the published quarterly financial statements of PT Indosat Tbk for the period of 2012–2023. The study employs multiple linear regression analysis, incorporating classical assumption tests. Partial significance was assessed using the t-test, while simultaneous significance was evaluated using the F-test, with a significance level of 5%. The results indicate that, individually, the ROA and DER variables have a significant effect on stock prices, whereas the CR and PER variables do not. However, the variables ROA, CR, DER, and PER collectively influence stock prices. The adjusted R-squared value is 0.753, indicating that the independent variables explain 75.3% of the variation in the dependent variable, while the remaining 24.7% is explained by other independent variables outside the model.