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ANALYSIS OF LIQUIDITY PROFITABILITY AND DEBT TO EQUITY RATIO ON COMPANY VALUE Maulana Rizki; Nor Norisanti; Resa Nurmala
Jurnal Apresiasi Ekonomi Vol 13, No 3 (2025)
Publisher : Institut Teknologi dan Ilmu Sosial Khatulistiwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31846/jae.v13i3.827

Abstract

This study analyzes the effect of profitability, liquidity, and debt to equity ratio (DER) on firm value in the property and real estate sector listed on the Indonesia Stock Exchange (IDX) for the 2017-2021 period. The main problem identified is the decline in company value in this sector caused by the COVID-19 pandemic and low demand for property. This study aims to determine how much influence the three variables have on firm value. The method used is quantitative with a descriptive-associative approach, using secondary data from the financial statements of companies listed on the IDX and purposive sampling technique to select 9 issuers as samples. Data analysis was carried out through descriptive analysis, correlation test, and multiple regression analysis using SPSS. The results show that profitability has a significant positive effect on firm value, while liquidity has no significant effect. In contrast, DER has a significant negative effect on firm value. High profitability increases investor confidence in the company's prospects, while high DER decreases the value of the company due to increased financial risk. These results imply that companies in the property and real estate sector need to increase profitability and manage capital structure well to increase firm value.
Peran Profitabilitas Memediasi Pengaruh Debt to Equity Ratio dan Interest Coverage Ratio terhadap Nilai Perusahaan: Studi Kasus Sektor Industrial yang Terdaftar di Bursa Efek Indonesia Periode 2024 Alisya Rahma Andini; Nor Norisanti; Sopyan Saori
Jurnal QOSIM : Jurnal Pendidikan, Sosial & Humaniora Vol 4 No 3 (2026): 2026
Publisher : Yayasan pendidikan dzurriyatul Quran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61104/jq.v4i3.7063

Abstract

Penelitian ini bertujuan untuk menganalisis peran profitabilitas dalam memediasi pengaruh Debt to Equity Ratio (DER) dan Interest Coverage Ratio (ICR) terhadap Nilai Perusahaan pada Sektor Industrial yang terdaftar di Bursa Efek Indonesia (BEI) periode 2023 dan 2024. Metode penelitian yang digunakan adalah pendekatan kuantitatif asosiatif dengan teknik analisis regresi linier berganda dan analisis mediasi (path analysis). Sampel penelitian terdiri dari 60 perusahaan yang dipilih menggunakan metode purposive sampling. Hasil penelitian menunjukkan bahwa DER, ICR, dan Profitabilitas (ROA) masing-masing berpengaruh positif dan signifikan terhadap Nilai Perusahaan (PBV). DER dan ICR juga berpengaruh positif dan signifikan terhadap Profitabilitas. Lebih lanjut, ROA terbukti mampu memediasi secara parsial hubungan antara DER dan Nilai Perusahaan, serta hubungan antara ICR dan Nilai Perusahaan. Temuan ini mengindikasikan bahwa pengelolaan struktur utang dan kemampuan memenuhi beban bunga yang baik dapat meningkatkan Nilai Perusahaan baik secara langsung maupun melalui peningkatan profitabilitas.
The Role of Profitability in Mediating Financial Efficiency on Indonesian Firm Value Ragis Arginta Resian; Nor Norisanti; Kokom Komariah
Jurnal QOSIM : Jurnal Pendidikan, Sosial & Humaniora Vol 4 No 3 (2026): 2026
Publisher : Yayasan pendidikan dzurriyatul Quran

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.61104/jq.v4i3.7941

Abstract

The Consumer Non-Cyclicals sector occupies a strategically vital role in Indonesia ‘s economy by supplying essential goods and services that sustain societal consumption stability across various economic conditions. Despite these defensive characteristics, average stock prices in the sector declined persistently from IDR 1,441 in 2023 to IDR 1,389 in 2025, signalling mounting pressure on firm value. This study examines the mediating role of profitability in the relationship between managerial administrative decisions, specifically Cash Conversion Cycle (CCC) management and operating costs efficiency (BOPO) and firm value (PER) among Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange (IDX) for the 2023-2025 period. Employing a quantitative causal-associative design, 108 companies were selected through purposive sampling from a population of 132, generating 324 firm-year observations. Data were analysed using Partial Least Squares-Structural Equation Modelling (PLS-SEM) via SmartPLS v3.2.9. Results indicate that CCC and operating costs do not directly affect firm value. However, both negatively and significantly influence profitability (ROA), which in turn positively and significantly affects firm value. Profitability mediates both relationships, confirming its role as the critical transmission mechanism through which operational and administrative efficiency translates into market valuation. These findings carry significant practical implications for managers, business practitioners, and economic policymakers in designing strategies that link operational discipline to sustained business value creation.
Co-Authors A Restu Maulani Acep Samsudin Acep Syamsudin Adelia Athaya Dzakiyyah Adzkya, Adzkya Shaqiela Afiary, Muhamad Azhar Afifah, Fitriani Agustiani, Rayhani Ai Mulyaningrum Ajeng Ayu Wardhani Putri Ajeng Vika Nia Tifani Alisya Rahma Andini Amalia, Salma Andini Widya Yasa Andira, Firani Dias Anggi Pratiwi Anggi Pratiwi, Anggi Anggia Nurul Safarila Anisa Maramis Annisa Ayulestari Noer Annisa Drajat Anshary, Muhamad Asykal Rizqinan Any Octaviany Aprianto, Muhammad Shidiq Apriliani Sya’diah Asep Muhamad Ramdan Asep Muhammad Ramdhan Aslia, Farisa Astria, Indria Sri Astriani Puji Lestari Auliya, Auliya Farreli Irhandi Ayu Puji Astuty Azis Mauraksa Azzahrunisa, Andini Bagus Muhammad Guntur Budiarti Sawitri, Indah Ce Mutia Izmilla Clara Candra Komala Damayanti, Elok Deni Muhammad Danial Deni Muhammad Daniel Desta Riany Devi Agustini Devilia, Wanda Diah Nurul Fauzi Dicky Jhoansyah Dio Alif Ramadhan Ditha Indah Fatmasari Dwi Sri Wahyuni Elah Elah Elia Rahayu R Endarti Endarti Erry Sunarya Erry Sunarya Ervina Widiastuti Ery Sunarya Evrida hayati Fabianca Fachreza Fadhli Ahmad Fauzan Fahmi Mauludin Faizal Mulia Z Faizal Mulya Z Fany Mutia Rizki Farach Dhiba Helmaliana Farike Rhava Kusmita Fauzhan Pratama Permana Febriani, Selvy Firani Dias Andira Firhan Dwi Januar Fitrah Shaumi Ulul Albab Fitrio, Rian Renaldi Muhamad Gia Tamara Sukandi Gunawan, Alayda Nazwa Hadiyah Hafitri, Nisa Elya Hana Diawati Hana Nurhasanah Hana Qurota A'yun Hartika, Dela Heni Nurbayani Ia Siti Bahriah Ilham Maulana Ilham Maulana Ibrahim Ima Halimah Ima Halimah Indah Budiarti Sawitri Indah Khoiriyah Indria Sri Astria Intan Permatasari Irma Sulastri Jihan Nurul Rachman Julianti Eka Putri kendra Nur Ghibrani Khaerunnisa, Salma Khairunnisa, Risvi Meilan Kholipah Al Mugni Kokom Komariah Kokom Komariah Komala, Clara Candra Laila Hamidah Langi Delanur Lestari Damayanti Lulu Gita Lusi Nur Fajriani Machmudin, Arief Mahesa Saputra Manuhutu, Fitria Andriani Marina, Ade Maulana Abdul Rohman Maulana Rizki Maulani, Almah Mauludin, Fahmi Meita Dilani Nurhandriani Mitasari Mitasari Moch Alhadi Fahtiansyah Mochammad Husen Gifari Moh Irpan Firmansyah Mohammad Ilham Muharrom, Ibnu Mulia Z., Faizal Mulia. Z, Faizal Mulya Z, Faizal Mursyidan, Muhammad Fadhli Nabila Maulana Yusup, Silva Nadia Cindy Monica Najwa Indah Sari Ni Luh Ari Yusasrini Noviani Noviani Nur Ajeng Setia Wiguna Nurhafni, Alyaa Fawzia Nurillah Sopian Nurmala, Resa Nurul Aulia Nurul Jauza Putri Nuryana, Hilmy Phytaloka, Ananda Dhea Purnama, Ilham Purwaningsih, Fitriana Ayu Purwoko, Agus Puspita Wulandari Putri, Apdhita Seftiantie Rusmaya R Deni Muhammad Danial R. Deni M. Danial Ragis Arginta Resian Rahayu Damayanti Rahma Lia Fauziah Rahmat Setyo Wicaksono Rahyadi, Muhamad Reyhan Ramadhani, Salsa Diva Resa Nurmala Respi Saputri Resti Ganis Yuliani Restu Nurfani Retla Della Rustawan Ria Ulvia Erza Riani Fauzia Rahmayanti Risfa Aryani Putri Rizky Adhinugroho Rosmalianda Aprilia Rossy Rosmalia Sutarya Sa'adatunnisa, FItri Salman Muhammad Rezab Salsabila Safiratunnajah Saputri, Respi Seli Lestari Selvia Ramdani Septi Utami Shaquila Farah Aprila Shera Wulan Ruswandi Shintya Yuliana Silitonga, Tiur Maulina Siska Oktavia Siti Dwi Ayuningsih Siti Maria Ulpah Siti Maryam Agustina Siti Rohila Sofyan, Frama Aditya Sopyan Saori Sopyan Saori Sri Nuranti Sulastri Fazriah Sunarya, Erry Suwendi Suwendi Syifa Sofariah Tetty Sufianty Zafar Tiara Suci Bentar Tiffany Ummu Hawa Assa’diyah Utami, Septi Vini Eka Paksi Wimartfian, Restu Eka Yesi Rahmawati Yoga Nudea sofyan Yogi Lesmana Yosef Saefurrohmat Yuwan Apriliandi