<![CDATA[The capital market provides long-term financial instruments, including stocks, as one investment alternative favored due to their high potential returns. However, unpredictable fluctuations in stock prices can lead to the risk of losses, so an in-depth analysis is necessary for making informed investment decisions. This study aims to analyze the influence of the price-earnings ratio (PER) and Price Book Value (PBV) on the stock price of PT Aspirasi Hidup Indonesia Tbk, which is included in the LQ-45 index, a group of high liquidity stocks on the Indonesia Stock Exchange. The research method uses a hypothetico-deductive approach with secondary data on stock prices and the company's financial performance from 2016–2023. Data processing was carried out using Microsoft Excel and IBM SPSS. The analysis results show that PER partially does not significantly affect stock prices, whereas PBV has a significant effect. Simultaneously, PER and PBV affect stock prices. The coefficient of determination test results indicate a value of 0.645 (64.5%), meaning PER and PBV influence stock prices by 64.5%, while 35.5% is influenced by other factors not studied. These findings underscore the importance of financial ratio analysis in making investment decisions.Pasar modal menyediakan instrumen keuangan jangka panjang, termasuk saham sebagai salah satu alternatif investasi yang diminati karena potensi keuntungan yang tinggi. Namun, fluktuasi harga saham yang tidak menentu dapat menyebabkan risiko kerugian, sehingga analisis mendalam diperlukan untuk pengambilan keputusan investasi yang tepat. Penelitian ini bertujuan menganalisis pengaruh Price to Earnings Ratio (PER) dan Price to Book Value (PBV) terhadap harga saham PT Aspirasi Hidup Indonesia Tbk yang termasuk indeks LQ-45 yaitu saham-saham berlikuiditas tinggi di Bursa Efek Indonesia. Metode penelitian menggunakan pendekatan hipotetiko-deduktif dengan data sekunder berupa harga saham dan kinerja keuangan perusahaan selama periode 2016–2023. Pengolahan data dilakukan menggunakan Microsoft Excel dan IBM SPSS. Hasil analisis menunjukkan bahwa secara parsial, PER tidak berpengaruh signifikan terhadap harga saham, sedangkan PBV berpengaruh signifikan. Secara simultan, PER dan PBV memengaruhi harga saham. Hasil pengujian koefisien determinasi mengindikasikan nilai sebesar 0.645 (64.5%), yang berarti PER dan PBV memengaruhi harga saham sebesar 64.5%, sementara 35.5% dipengaruhi oleh faktor lain yang tidak diteliti. Temuan ini menegaskan pentingnya analisis rasio keuangan untuk menentukan keputusan investasi.]]>
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