Amanda Delawati
Universitas Pamulang, Indonesia

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THE EFFECTS OF RETURN ON ASSETS, EARNINGS PER SHARE, AND DEBT-TO-EQUITY RATIO ON BBNI STOCK PRICE 2010–2024 Amanda Delawati; Achmad Ludvy
MBISKU: Jurnal Manajemen Bisnis dan Keuangan Vol. 3 No. 2 (2026): MBisKu, July 2026
Publisher : Program Studi Manajemen Keuangan Syariah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56633/mbisku.v3i2.1598

Abstract

This study examines the effects of Return on Assets (ROA), Earnings per Share (EPS), and Debt to Equity Ratio (DER) on the stock price of PT Bank Negara Indonesia (Persero) Tbk during 2010–2024. Using a quantitative approach, this study analyzes 15 annual observations obtained from annual reports and stock market records. Multiple linear regression was performed using SPSS to examine the partial and simultaneous effects of the financial indicators. The results show that ROA has a significant negative effect on stock price (t = −3.60; p = 0.004), while EPS has a significant positive effect (t = 3.53; p = 0.005). In contrast, DER has no significant effect (t = −0.08; p = 0.935). Simultaneously, ROA, EPS, and DER significantly affect stock price (F = 7.17; p = 0.0062), with an R² of 66.16%. These findings indicate that financial indicators provide substantial information for stock valuation, although market valuation is also influenced by factors beyond the model. The study highlights the importance of sustainable earnings, earnings attributable to shareholders, prudent financial management, and broader market considerations in assessing bank stock valuation