Journal of Strategic Behaviour Accounting (JSBA)
Vol. 1 No. 2 (2025): Vol. 1 No. 2 (2025)

An Analysis of the Influence of Financial Ratios on Stock Prices of Energy and Mining Companies Listed on the Indonesia Stock Exchange

REZA ANGGIDYA PUTRI (Universitas Negeri Surabaya)
AZILA PUTRI JELITA (Unknown)



Article Info

Publish Date
27 Nov 2025

Abstract

This study is designed to explore the impact of financial ratios on stock values of companies in the energy and mining sectors listed on the Indonesia Stock Exchange (IDX) during the period of 2021–2024. The financial ratios examined include the Current Ratio (CR), Total Asset Turnover (TATO), and Return on Assets (ROA). This research employs a descriptive quantitative approach using multiple linear regression analysis. The findings reveal that individually, ROA has a significant influence on stock values, while CR and TATO show no significant effect. However, when analyzed simultaneously, the three ratios collectively exert a significant impact on stock values, contributing 24.6%. These results confirm that profitability is the dominant factor considered by investors in determining stock prices within the energy and mining sectors. The study is expected to contribute to the development of financial knowledge and serve as a useful reference for investors in making investment decisions. Keywords: Current Ratio, Total Asset Turnover, Return on Assets, stock price, energy, mining, Indonesia Stock Exchange.

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Journal Info

Abbrev

jsba

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Journal of Strategic Behavior Accounting (JSBA) focuses on advancing scholarly understanding of how accounting shapes, influences, and interacts with strategic behavior within organizations. The journal aims to provide a platform for high‑quality empirical, conceptual, and case‑based research ...