<![CDATA[This study aims to analyze the effect of Return on Assets (ROA), Return on Equity (ROE), and Earnings per Share (EPS) on Stock Returns, as well as the role of inflation as a moderating variable in companies listed on the Jakarta Islamic Index (JII) 30 during the period 2018–2024. This research uses a quantitative approach with multiple regression and moderated regression analysis techniques. The results show that ROA and EPS have no significant effect on stock returns. ROE, however, has a negative and significant effect on stock returns. On the other hand, inflation is found to have a positive and significant effect on stock returns. However, inflation is not able to strengthen the relationship between ROA, ROE, and EPS with stock returns. These findings indicate that investors tend to consider external factors such as inflation in investment decision-making rather than the company's internal financial performance indicators. The implications of these results highlight the importance of macroeconomic stability in supporting the performance of the Islamic capital market in Indonesia. Abstrak Penelitian ini bertujuan untuk menganalisis pengaruh Return on Assets (ROA), Return on Equity (ROE), dan Earning per Share (EPS) terhadap Return Saham, serta peran inflasi sebagai variabel moderasi pada perusahaan yang terdaftar di Jakarta Islamic Index (JII) 30 selama periode 2018–2024. Penelitian ini menggunakan pendekatan kuantitatif dengan teknik analisis regresi berganda dan moderated regression analysis. Hasil penelitian menunjukkan bahwa ROA dan EPS tidak berpengaruh signifikan terhadap return saham. ROE justru memiliki pengaruh negatif dan signifikan terhadap return saham. Sebaliknya, inflasi ditemukan berpengaruh positif dan signifikan terhadap return saham. Namun, inflasi tidak mampu memperkuat hubungan antara ROA, ROE, dan EPS terhadap return saham. Temuan ini mengindikasikan bahwa investor cenderung mempertimbangkan faktor eksternal seperti inflasi dalam pengambilan keputusan investasi, dibandingkan dengan indikator kinerja keuangan internal perusahaan. Implikasi dari hasil penelitian ini menunjukkan pentingnya peran stabilitas makroekonomi dalam mendukung kinerja pasar saham syariah di Indonesia.]]>
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