Dian Insani
Universitas Stikubank, Semarang

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Pengaruh Profitabilitas, Struktur Modal, dan Rasio Pasar Terhadap Harga Saham Dian Insani; Sunarto Sunarto
Ekonomi, Keuangan, Investasi dan Syariah (EKUITAS) Vol 8 No 1 (2026): August 2026
Publisher : Forum Kerjasama Pendidikan Tinggi (FKPT)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47065/ekuitas.v8i1.10744

Abstract

This study aims to analyze the effect of profitability (ROE), capital structure (DER), and market capitalization ratio (EPS) on stock prices, measured using stock price volatility, in Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2025 period. This study was motivated by the continued discrepancy in research findings regarding the effect of financial ratios on stock prices, necessitating further testing in more recent sectors and observation periods. The study employed a quantitative approach with secondary data obtained from the companies' annual financial reports. A total of 47 companies were selected as research samples after a selection process using a purposive sampling technique in accordance with predetermined criteria. Data analysis was carried out using multiple linear regression analysis, beginning with descriptive statistical tests, classical assumption tests, model feasibility tests, coefficient of determination tests, and hypothesis tests. The results of the study indicate that the capital structure variable has a positive and significant effect on stock prices (Sig. 0.015) with a regression coefficient of 0.032, while the profitability variable (Sig. 0.874) and the market ratio variable (Sig. 0.434) do not affect stock prices because each has a significance value above 0.05. These findings are expected to be a reference material for investors in evaluating the company's fundamental condition before making investment decisions and for companies in establishing financial policies that support increasing company value.