ANALYSIS OF LIQUIDITY, SOLVENCY, AND ACTIVITY RATIOS ON FINANCIAL PERFORMANCE (Empirical Study of Iron and Steel Industry Companies Listed on the Indonesia Stock Exchange 2022-2024)

Ikhsan Sidiq Febriansyah (Universitas Veteran Bangun Nusantara)
Ardian Prima Putra (Universitas Veteran Bangun Nusantara)

MANAJEMEN DEWANTARA
Vol 10 No 2 (2026): MANAJEMEN DEWANTARA

Objectives: To examine the effects of liquidity, solvency, and asset activity on financial performance among Indonesian iron and steel companies. Methods: Quantitative research involving nine IDX-listed companies during 2022–2024, analyzed using multiple linear regression. Research Gap/Novelty: Integrates liquidity, capital structure, and asset efficiency to explain financial performance in the iron and steel sector. Results: Solvency (DER) and activity (TATO) positively and significantly influenced ROE, while liquidity (CR) was insignificant. The model explained 51.1% of ROE variance. Conclusion: Capital structure optimization and asset efficiency are essential for improving financial performance.