<![CDATA[ABSTRACT Investors have an interest in knowing how the condition of the company's financial performance in determining investments. A company's financial performance can be analyzed through a variety of techniques, one of which is through ratio analysis. The ratio that is in practice used by investors in determining stock purchases consists of return on asset as well as return on equity. Furthermore, based on the ratio will affect the decision of investors in the purchase of shares so that it is considered to affect the stock price. The sector that is considered potential by investors is one of them is the industry or pharmaceutical sector listed on the Indonesia Stock Exchange even though in its journey it had experienced fluctuations. This research aims to find out how the effect of return on assets and return on equity on the average stock price in the period 2015-2020. The timing of the study was chosen based on fluctuations or fluctuations in pharmaceutical market conditions that impacted stock prices in 2015-2020. Using classic assumption tests as well as multiple linear analysis tests, the study provides return on asset and return on equity results each affecting the average stock price. Return on asset positively affects the average stock price while return on equity negatively affects the average stock price.Keywords: Return on Asset, Return on Equity, Average Stock PriceABSTRAK Investor memiliki kepentingan untuk mengetahui bagaimana kondisi kinerja keuangan perusahaan dalam penentuan investasi. Kinerja keuangan perusahaan dapat dianalisis melalui berbagai macam teknik salah satunya adalah melalui analisis rasio. Rasio yang dalampraktiknya digunakan oleh investor dalam menentukan pembelian saham terdiri dari return on asset serta return on equity. Selanjutnya berdasarkan rasio tersebut akan mempengaruhi keputusan investor dalam pembelian saham sehingga dianggap dapat mempengaruhi harga saham. Sektor yang dianggap potensial oleh investor salah satunya adalah industri atau sektor farmasi yang terdaftar di Bursa Efek Indonesia meskipun dalam perjalanannya sempat mengalami fluktuasi. Penelitian ini bertujuan untuk mengetahui bagaimana pengaruh return on asset serta return on equity terhadap rata-rata harga saham pada periode 2015-2020. Waktu penelitian dipilih berdasarkan fluktuasi atau naik turunnya kondisi pasar farmasi yang berdampak pada harga saham di tahun 2015-2020. Menggunakan uji asumsi klasik serta uji analisis linear berganda, penelitian ini memberikan hasil return on asset dan return on equity masing-masing berpengaruh terhadap rata-rata harga saham. Return on asset berpengaruh positif terhadap rata-rata harga saham sedangkan return on equity berpengaruh negatif terhadap rata-rata harga saham. Kata kunci: Return on Asset, Return on Equity, Rata-rata Harga Saham]]>
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