Abstract: This study aims to examine the effect of liquidity, leverage, and activity on financial performance in property and real estate sector companies listed on the Indonesia Stock Exchange for the 2020-2024 period. This study uses a quantitative approach with secondary data from company financial reports. The sample was determined using purposive sampling method with a total of 295 observations after outlier detection. The data analysis method used multiple linear regression in SPSS version 26. Since heteroscedasticity was detected, this study employed the Robust Standard Error (HC3) procedure. The results show that simultaneously, liquidity, leverage, and activity have a significant effect on financial performance. Partially, liquidity has no significant effect, leverage has a significant negative effect, and activity has a significant positive effect on financial performance. The implication of this study is that companies need to optimize asset utilization and manage debt prudently to improve financial performance
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