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All Journal Al-Muamalat : Jurnal Ekonomi Syariah
Umardilopa, Jevi Azi
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Humanities Economics, Econometrics & Finance Social Sciences

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The Impact of EPS, PER, CR, and ROE on the Sharia Share Prices on the Indonesia Stock Exchange Umardilopa, Jevi Azi; Projo, Nucke Widowati Kusumo
Al-Muamalat: Jurnal Ekonomi Syariah Vol 12, No 1 (2025): January (IN PRESS)
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.38183

Abstract

The public's need for Sharia investment is also increasing along with an increase in the number of Muslim populations. From 2019 to 2023, the total number of Sharia stock firms on the Indonesia Stock Exchange (IDX) has consistently remained stable or increased, without any decline. Behind these prospects, Sharia companies show quite volatile stock price movements. Therefore, a financial ratio analysis needs to be carried out. Financial ratios such as Earnings per Share (EPS), Price to Earnings Ratio (PER), Current Ratio (CR), and Return on Equity (ROE) are useful for assessing a company's valuation. Novelty in this paper is the integration of Sharia principles with financial ratios to assess the condition of Sharia companies. This study aims to analyze the effect of EPS, PER, CR, and ROE on the Sharia stock price. The research utilized secondary data from the second trimester of 2023 obtained from the IDX. The research methods are analysis descriptive and inferential analysis using robust regression. This research shows that EPS variable, PER variable, and ROE variable have a positive and significant impact on Sharia share prices, meanwhile CR has no significant effect and has a negative direction on the stock prices of Sharia company. Therefore, investors need to consider the EPS value, PER, and ROE before making investment decisions. This study's findings could be utilized by investment organizations to identify important factors affecting stock prices therefore potential investors may use it as guidance to get optimal profit.
The Impact of EPS, PER, CR, and ROE on the Sharia Share Prices on the Indonesia Stock Exchange Umardilopa, Jevi Azi; Projo, Nucke Widowati Kusumo
Al-Muamalat: Jurnal Ekonomi Syariah Vol. 12 No. 1 (2025): January
Publisher : Department of Sharia Economic Law, Faculty Sharia and Law, UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/am.v12i1.38183

Abstract

The public's demand for Sharia-compliant investment has been increasing in tandem with the growth of the Muslim populations. Between 2019 and 2023, the total number of Sharia-compliant stock firms listed on the Indonesia Stock Exchange (IDX) has consistently remained stable or increased, with no recorded decline. Despite this promising trend, Sharia companies show quite volatile stock price movements. Therefore, conducting a financial ratio analysis is essential. Financial ratios such as Earnings per Share (EPS), Price to Earnings Ratio (PER), Current Ratio (CR), and Return on Equity (ROE) are useful for assessing a company's valuation. This study's novelty lies in integrating Sharia principles with financial ratio analysis to evaluate the financial health of Sharia-compliant firms. This research aims to analyze the influence of EPS, PER, CR, and ROE on the stock prices of Sharia companies. The research utilizes secondary data from the second trimester of 2023, obtained from the IDX. The research employs descriptive and inferential analysis using robust regression. The findings indicate that EPS variable, PER variable, and ROE variable have a positive and significant impact on Sharia stock prices. Conversely, CR has no significant effect and has a negative correlation with the stock prices of Sharia companies. Therefore, investors need to consider the EPS value, PER, and ROE before making investment decisions.
Co-Authors Projo, Nucke Widowati Kusumo