Indikator: Jurnal Ilmiah Manajemen & Bisnis
Vol 9, No 3 (2025)

The Impact of Profitability, Liquidity, Leverage, and Eco-Efficiency on Firm Value in Energy Companies

Asril, Roy Afrizon (Unknown)
Hartanto, Ambar Puji (Unknown)



Article Info

Publish Date
06 Aug 2025

Abstract

This study aims to analyze the effect of profitability, liquidity, leverage, and eco-efficiency on firm value in energy sector companies listed on the Indonesia Stock Exchange during the 2020–2023 period. The population consists of all energy companies listed on the exchange, with a total sample of 29 firms selected using purposive sampling based on specific criteria. Secondary data were obtained from financial reports published on the official IDX website and the respective companies' websites. The data were analyzed using descriptive statistics and multiple regression analysis. The findings reveal that profitability, as measured by return on equity (ROE), has a positive and significant effect on firm value. In contrast, liquidity (current ratio/CR) shows a negative but statistically insignificant effect, while leverage (debt-to-equity ratio/DER) and eco-efficiency both exhibit positive but insignificant effects on firm value throughout the observation period.

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Journal Info

Abbrev

indikator

Publisher

Subject

Decision Sciences, Operations Research & Management

Description

INDIKATOR is a scientific journal of management and business published three times a year in January, April and August. The journal scope and focus are human resource management, marketing and ...