<![CDATA[Pharmaceutical companies are engaged in the development and distribution of medicines, primarily within the healthcare sector. Financial performance serves as a key indicator of a company's ability to survive, grow, and develop efficiently. One of the most commonly used performance metrics is Return on Assets (ROA). This study aims to determine whether the Current Ratio (CR) and Debt-to-Equity Ratio (DER) have a significant influence—both individually and simultaneously—on Return on Assets (ROA). A quantitative method with a causal-associative approach was employed using secondary data. Purposive sampling was used to select a sample of six companies. Panel data regression analysis was utilized, with the optimal model determined through Chow and Hausman tests, followed by classical assumption testing and hypothesis testing. The results indicate that the Current Ratio (CR) does not have a significant effect on ROA. The Debt-to-Equity Ratio (DER) has a significant negative effect on ROA, while the Current Ratio (CR) and Debt-to-Equity Ratio (DER) simultaneously exert a significant influence on Return on Assets (ROA). These findings demonstrate that the Debt-to-Equity Ratio (DER) plays a more dominant role in influencing and contributing to the Return on Assets (ROA) value compared to the Current Ratio (CR).]]>
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