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All Journal EDUNOMIC : JURNAL ILMIAH PENDIDIKAN EKONOMI FAKULTAS KEGURUAN DAN ILMU PENDIDIKAN
Ibnu Shazilly
Universitas Singaperbangsa Karawang
Economics, Econometrics & Finance Education Social Sciences

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PENGARUH RETURN ON ASSET, NET PROFIT MARGIN, DAN DEBT TO EQUITY RATIO TERHADAP HARGA SAHAM PADA PERUSAHAAN SUB SEKTOR TEKSTIL DAN GARMEN YANG TERDAFTAR DI BEI PERIODE 2020-2024 Ibnu Shazilly; Suhono
Edunomic : Jurnal Ilmiah Pendidikan Ekonomi Fakultas Keguruan dan Ilmu Pendidikan Vol 14 No 2 (2026): EDISI SEPTEMBER
Publisher : Prodi Pendidikan Ekonomi-UGJ

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33603/ejpe.v14i2.12043

Abstract

This study aims to examine the influence of Return on Assets (ROA), Net Profit Margin (NPM), and Debt to Equity Ratio (DER) on stock prices, both partially and simultaneously, in textile and garment sector companies listed on the Indonesia Stock Exchange during the 2020–2024 period. This study employs a quantitative approach using purposive sampling. From a population of 21 companies, 8 companies were selected based on predetermined criteria. The data was analyzed using multiple linear regression analysis. The results show that, partially, ROA has a significant positive effect on stock prices, while NPM and DER do not have a significant effect. However, simultaneously, ROA, NPM, and DER jointly have a significant effect on stock prices. The coefficient of determination (R²) is 0.422, indicating that 42.2% of stock price variation can be explained by the three independent variables, while the remaining 57.8% is influenced by other variables outside the model. These findings imply that profitability, particularly ROA, plays a more important role in influencing investor decisions compared to NPM and DER. Therefore, investors are advised to place greater emphasis on efficiency in asset utilization when making investment decisions, while companies should focus on improving asset performance to enhance market value. Keywords: Return on Asset; Net Profit Margin; Debt to Equity Ratio; and Stock Price.
Co-Authors Suhono Suhono