<![CDATA[This research aims to examine the effect of debt to equity ratio, current ratio, return on equity, and net profit margin on stock prices. The population selected in this study is pharmaceutical sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period. The sample selection using purposive sampling technique obtained as many as 6 pharmaceutical sub-sector manufacturing companies listed on the Indonesia Stock Exchange (IDX) during the 2019-2023 period, with a total of 30 data observations. The data analysis technique used in this research is multiple linear regression analysis using SPSS version 26, through the stages of descriptive statistical analysis, classical assumption test, and hypothesis testing using the t-test and f-test. The results indicate that the debt to equity ratio and current ratio variables have a significant effect on stock prices, while the return on equity and net profit margin variables have no significant effect on stock prices. The findings show that financial managers and investors should pay closer attention to the company's debt and liquidity ratios to determine financial and investment policies, because these variables clearly affect stock price fluctuations, especially in the pharmaceutical sub-sector. Riset ini bermaksud guna mengukur pengaruh dari debt to equity ratio, current ratio, return on equity, dan net profit margin terhadap harga saham. Populasi yang dipilih terdiri dari perusahaan manufaktur sub sektor farmasi yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2019-2023. Pemilihan sampel dilakukan menggunakan teknik purposive sampling, yang menghasilkan sampel sejumlah 6 perusahaan manufaktur sub sektor farmasi yang tercatat di Bursa Efek Indonesia (BEI) selama periode 2019-2023, dengan jumlah data observasi sejumlah 30 data. Teknik pengukuran data yang dipakai pada riset ini yaitu analisis regresi linear berganda melalui SPSS versi 26, melalui tahapan analisis statistik deskriptif, uji asumsi klasik, serta penganalisisan hipotesis dengan uji-t dan uji-f. Hasil riset mengindikasikan bahwa variabel debt to equity ratio dan current ratio berdampak signifikan terhadap harga saham, sedangkan variabel return on equity dan net profit margin tidak berdampak signifikan terhadap harga saham. Temuan ini memperlihatkan bahwa manajer keuangan dan pemodal hendaknya semakin mencermati rasio hutang dan likuiditas perusahaan guna menetapkan kebijakan finansial dan investasi, sebab variabel-variabel tersebut jelas berpengaruh pada fluktuasi harga saham, terutama pada sub sektor farmasi.]]>
