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Journal : Journal of Innovative and Creativity

Analisis Pengaruh Net Profit Margin (Npm), Current Ratio (CR) Dan Working Capital Turnover (WCTO) Terhadap Return Saham Pada Perusahaan Sub Sektor Rokok Yang Terdaftar Di Bursa Efek Indonesia (BEI) IRWATI WATI; NAFISAH NURULRAHMATIAH; ALWI ALWI
Journal of Innovative and Creativity Vol. 5 No. 2 (2025)
Publisher : Fakultas Ilmu Pendidikan Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/joecy.v5i2.1808

Abstract

This study aims to analyze the effect of Net Profit Margin (NPM), Current Ratio (CR), and Working Capital Turnover (WCTO) on stock returns in cigarette sub-sector companies listed on the Indonesia Stock Exchange (IDX). Stock return is an important indicator that reflects the level of profit earned by investors and is therefore influenced by various fundamental factors of a company. This research uses a quantitative approach with descriptive and verificative methods. The data used are secondary data obtained from the annual financial reports of cigarette sub-sector companies listed on the IDX during the 2019–2023 period. The data analysis technique employed is multiple linear regression analysis, including classical assumption tests, partial test (t-test), and simultaneous test (F-test) to examine the research hypotheses. The results indicate that partially, the Net Profit Margin (NPM) variable has a positive and significant effect on stock returns. The Current Ratio (CR) does not have a significant effect on stock returns, while the Working Capital Turnover (WCTO) shows a negative but insignificant effect. Simultaneously, these three variables influence stock returns, although not all are individually significant. These findings suggest that profitability is the primary factor considered by investors in making investment decisions in the cigarette sub-sector, while liquidity and working capital turnover efficiency play a lesser role in influencing stock returns. This research is expected to provide valuable insights for investors, company management, and academics in understanding the financial factors affecting stock returns in this specific industrial sector.
Co-Authors adi rahman Adi Rahman, Adi Al Akbar Akbar Aliah Pratiwi Aliah Pratiwi Aliah Pratiwi Alwi Alwi Andini Ramadani Aprilia Susanti, Aprilia Aris Munandar Aris Munandar Aris Munandar Aristianti, Astri Asmirah, St Astri Aristianti Aulia, Aulia Awalia, Shafira Azis, Andi Darmawan, Imam Dessyarti, Robby Sandhi Dewi Sri Pertiwi Efan Iriadi Eva Putri Ayu Fitratul Aqidah Fitriani, Reza Fitriati Fitriati Fitriati Fransiska Saputri Desy Gusmawarni, Gusmawarni Hardiansyah, Putra Bima Haryadin, Muhammad Nur Haryanti, Intisari sari Humairah, Marsya Indra Ramadhan Intisari Haryanti Intisari Haryanti Intisari Haryanti Haryanti Intisari Haryati Irmala, Terry Luana IRWATI WATI Ita Iftitah Ita Iftitah Iftitah Ita Purnama Ita Purnama, Ita Jaenab Jaenab, Jaenab Jordi Alfayer Juhal Hidayat Jumiyati Jumiyati Jumratin Juwani Juwani Juwani, Juwani Kartin Aprianti Khaerunnisa Khaerunnisa Kurnia Fajrianti, Kurnia Kusumayadi, Firmansyah M. Rimawan M. Rimawan Mardiah Mardiah Muhammad Shalihin Mukhlis Mukhlis Mulyadin Mulyadin Muthiah, Hanifa Nisabelle, Chalistia Hilma Nur Amaliah Nur Khusnul Hamidah Nurchairunisyah Nuchairunisyah Nurhayati nurhayati Nurhayati Nurhayati Nurhayati nurmi yanti Nurul huda Nurul Huda Nurul Huda Ovriyadin, Ovriyadin Pratiwi, Aliah Puji Muniarty Putri Nabilah Rahmatiah Rahmatiah Rahmawati Ramadhan, Moh. Syahru Riandi, M. Inas Rosa Dwiyanti Rostinah Rostinah Sadewo, Nirwana Segarawasesa, Fajar Satriya Soedjatmiko St. Asmirah St. Asmirah Suci Susilawati Sulistianingtyas, Layli Rahmah Syari, Indah Taufikurrahman Taufikurrahman Triati Putri Umratun Ikayanti Wulan Rizki Ramdani WULANDARI Wulandari Wulandari Zahra Sausan