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All Journal AJARCDE (Asian Journal of Applied Research for Community Development and Empowerment)
Masruro Masruro
Accounting Department, Faculty of Economics and Business, Wijaya Kusuma University Surabaya, Indonesia
Agriculture, Biological Sciences & Forestry Earth & Planetary Sciences Education Energy Environmental Science

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The Effect of Current Ratio, Debt to Equity Ratio, Total Asset Turnover, and Return on Assets on Firm Value Masruro Masruro; Lilik Mardiana
AJARCDE (Asian Journal of Applied Research for Community Development and Empowerment) Vol. 10 No. 2 (2026)
Publisher : Asia Pacific Network for Sustainable Agriculture, Food and Energy (SAFE-Network)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29165/ajarcde.v10i2.1085

Abstract

In this study, we will look at the food and beverage subsector companies listed on the Indonesia Stock Exchange for the period of 2023–2024 to see how the Current Ratio (CR), Debt to Equity Ratio (DER), Total Asset Turnover (TATO), and Return on Assets (ROA) affect company value, as measured by Tobin's Q. Using secondary data culled from company financial filings, this study employs a quantitative technique. The research sample consisted of 61 firms selected through deliberate sampling. Multiple linear regression using SPSS was the analytical approach employed. It turns out that four metrics Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Total Asset Turnover (TATO) have a major impact on company value simultaneously. However, the partial test results indicate that ROA is the only ratio that significantly affects company value; CR, DER, and TATO have no such effect. Contribution to Sustainable Development Goals (SDGs):SDG 8: Decent Work and Economic Growth SDG 9: Industry, Innovation and InfrastructureSDG 12: Responsible Consumption and ProductionSDG 16: Peace, Justice and Strong Institutions
Co-Authors Lilik Mardiana