<![CDATA[The Food and Beverage (F&B) sector is one of the most resilient industries in the Indonesian capital market, yet stock prices within this sector continue to fluctuate due to various financial factors. This study aims to systematically review and synthesize empirical evidence regarding the influence of profitability and financial leverage on the stock prices of F&B companies listed on the Indonesia Stock Exchange (IDX). A Systematic Literature Review (SLR) approach was employed using the PRISMA protocol. Twenty accredited journal articles published between 2021 and 2025 were selected from Google Scholar, Garuda, and Sinta databases based on predefined inclusion and exclusion criteria. The findings indicate that profitability, represented by Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM), consistently has a positive and significant effect on stock prices. These results support Signaling Theory, which suggests that higher profitability provides a positive signal to investors and enhances firm valuation. In contrast, leverage, measured by the Debt-to-Equity Ratio (DER), is generally found to have no significant impact on stock prices. This suggests that investors in the F&B sector tend to focus more on earnings performance than on capital structure. The study implies that profitability remains the most important financial indicator for investment decision-making and corporate valuation in the Indonesian F&B industry.]]>
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