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All Journal Jurnal Akuntansi Keuangan Dan Perpajakan
Claudia W.M. Korompis
Akuntansi, Fakultas Ekonomi dan Bisnis, Universitas Sam Ratulangi, Manado
Economics, Econometrics & Finance

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Inventory Turnover, Sales Growth, dan Operating Expense Ratio terhadap Profitabilitas Perusahaan Farmasi Desi Lipuadino; Jantje J. Tinangon; Claudia W.M. Korompis
Jurnal Akuntansi Keuangan Dan Perpajakan | E-ISSN : 3063-8208 Vol. 3 No. 2 (2026): Oktober - Desember
Publisher : GLOBAL SCIENTS PUBLISHER

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62379/jakp.v3i2.2105

Abstract

Profitability reflects a company's ability to generate profit from its assets and is influenced by inventory management efficiency, sales growth, and operating cost control. This study analyses the effect of inventory turnover, sales growth, and operating expense ratio on profitability, measured by Return on Assets (ROA), in pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during 2021–2025. A quantitative approach was applied using panel data regression with the Random Effect Model. Purposive sampling yielded 9 companies with 45 observations. The results show that inventory turnover (prob. 0.198) and sales growth (prob. 0.536) have no significant effect on ROA, while the operating expense ratio (prob. 0.000) has a negative and significant effect on ROA. Simultaneously, the three independent variables significantly affect ROA (Prob. F-statistic 0.000). The Adjusted R-squared of 0.655 indicates that 65.5% of the variation in ROA is explained by the model, while the remaining 34.5% is explained by other factors outside the model.
Co-Authors Desi Lipuadino Jantje J. Tinangon