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All Journal Al Tijarah Equilibrium: Jurnal Ilmiah Ekonomi, Manajemen dan Akuntansi IJEBD (International Journal Of Entrepreneurship And Business Development) JIKA: Jurnal Ilmu Keuangan dan Perbankan Ilomata International Journal of Tax and Accounting Journal of Management - Small and Medium Enterprises (SME's) International Journal of Business, Economics, and Social Development International Journal of Social Service and Research PRIMA : Portal Riset dan Inovasi Pengabdian Masyarakat JOURNAL OF HUMANITIES, SOCIAL SCIENCES AND BUSINESS (JHSSB) Journal of Management, Accounting, General Finance and International Economic Issues (MARGINAL) Journal Research of Social Science, Economics, and Management Jurnal Ekonomi, Teknologi dan Bisnis Indonesian Journal of Advanced Research (IJAR) Journal of Bussines Management Basic Jurnal Pintar Pengabdian dan Pemberdayaan Masyarakat
Budianto, Erwin
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Profitability Ratio Analysis to Measure Financial Performance Handayani, Melinda; Iqbal, Muhammad; Budianto, Erwin; Pharlina, Nurhana Dhea
IJEBD (International Journal of Entrepreneurship and Business Development) Vol 9 No 1 (2026): Jan - Feb 2026
Publisher : LPPM of NAROTAMA UNIVERSITY

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29138/ijebd.v9i1.3529

Abstract

Purpose: This research aims to evaluate the profitability ratios of companies in the Food and Beverage sector listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. The study specifically focuses on analyzing the Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), and Gross Profit Margin (GPM) as key indicators of financial performance. Design/methodology/approach: The study employs a quantitative analysis using financial data from annual reports of publicly listed Food and Beverage companies. Profitability ratios are calculated for each company over the four-year period and analyzed for trends and fluctuations. Statistical tools are used to assess the relationship between profitability ratios and factors such as operational efficiency, asset management, and market conditions. Findings: The findings indicate significant fluctuations in profitability ratios, reflecting challenges in cost management, asset utilization, and market competition. The study reveals that while some companies successfully managed to improve their profitability, others faced difficulties due to rising operational costs and inefficiencies in asset utilization. The analysis highlights the importance of controlling production costs, optimizing asset management, and adjusting pricing strategies to improve profitability. Paper type: Research Paper
KINERJA KEUANGAN SEBAGAI MEDIATOR ANTARA EFISIENSI OPERASIONAL DAN STRUKTUR MODAL TERHADAP NILAI PERUSAHAAN Hidayat, Dafa Shahwalludin; Budianto, Erwin
Equilibrium : Jurnal Ilmiah Ekonomi, Manajemen dan Akuntansi Vol 15, No 1 (2026): April
Publisher : Lembaga Penerbitan dan Publikasi Ilmiah (LPPI) Universitas Muhammadiyah Palopo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35906/equili.v15i1.2786

Abstract

A B S T R A KPenelitian ini dilatarbelakangi oleh tingginya fluktuasi nilai perusahaan di sektor energi yang dipicu oleh volatilitas harga komoditas global, sehingga menciptakan ketidakpastian bagi investor dalam menilai prospek perusahaan. Sebagai respon terhadap dinamika tersebut, penelitian ini mengeksplorasi bagaimana efisiensi operasional dan struktur modal memengaruhi nilai perusahaan dengan menempatkan kinerja keuangan sebagai jembatan mediasi pada sektor energi periode 2022–2024. Efisiensi operasional diukur menggunakan Total Asset Turnover (TATO), struktur modal diukur menggunakan Debt to Equity Ratio (DER), kinerja keuangan diukur menggunakan Return on Assets (ROA), dan nilai perusahaan diukur menggunakan Price to Book Value (PBV). Melalui pendekatan kuantitatif dan analisis SEM-PLS terhadap 27 perusahaan dengan 81 observasi. Hasil penelitian menunjukkan bahwa TATO berpengaruh positif signifikan terhadap ROA, sedangkan DER berpengaruh negatif signifikan terhadap ROA. TATO tidak berpengaruh langsung terhadap PBV, sementara DER dan ROA berpengaruh positif signifikan terhadap PBV. Selain itu, ROA terbukti memediasi pengaruh TATO dan DER terhadap PBV. Temuan ini menegaskan bahwa kinerja keuangan merupakan jalur mediasi yang krusial dalam pembentukan nilai perusahaan sektor energi.A B S T R A C TThis study is motivated by the high fluctuations in the value of companies in the energy sector triggered by global commodity price volatility, creating uncertainty for investors in assessing company prospects. In response to these dynamics, this study explores how operational efficiency and capital structure affect firm value by placing financial performance as a mediating bridge in the energy sector for the period 2022–2024. Operational efficiency is measured using Total Asset Turnover (TATO); capital structure is measured using the Debt to Equity Ratio (DER); financial performance is measured using Return on Assets (ROA); and company value is measured using Price to Book Value (PBV), through a quantitative approach and SEM-PLS analysis of 27 companies with 81 observations. The results show that TATO has a significant positive effect on ROA, while DER has a significant negative effect. TATO has no direct effect on PBV, whereas DER and ROA have a significant positive effect on PBV. In addition, ROA mediates the effect of TATO and DER on PBV. These findings confirm that financial performance is a crucial mediating of corporate value in the energy sector.
Co-Authors Amelia, Dhea Aryaningsih, Nabilah Risna Cantika, Erly Dewi, Nurul Aulia Dewi, Reza Kusuma Dhevyanto, Benny Dwi Putri, Novi Fadilah, Muhamad Kahfi Fathurahman , Miftah Alfarid Ferry Ferdianto Handayani, Melinda Hartianti , Astri Hasanah, Ananda Putri Hasanah, Fayza Safira Henriawan, Desan Hidayat, Dafa Shahwalludin Khaeruni, Ratnawati L. Lisnawati Lugina, Wenda Surya Maiyaliza, Maiyaliza Muhammad Iqbal Nur'aeni, Neni Nurhana Dhea Parlina Nur’atin, Atin Oviana, Rena Parihah, Nurul Permatasari, Fatimah Pharlina, Nurhana Dhea Rizka, Auliah Rizky, Devano Alfa Rossalina, Zahra Sari, Habibah Nurmala Siti Anisa Siti Romlah Suzana, Anna Syaifudin Syaifudin, Syaifudin Triana, Sabrina Dinda Trisnawati, Titin