<![CDATA[The food and beverage sector is the manufacturing sub-sector with the largest contribution to Indonesia's GDP, making the financial performance of its companies a critical concern for investors and stakeholders. Profitability measured through Return on Assets (ROA) is influenced by various financial factors, including liquidity proxied by Current Ratio (CR) and capital structure proxied by Debt to Equity Ratio (DER). This study aims to analyze the effect of Current Ratio (CR) and Debt to Equity Ratio (DER) on Return on Assets (ROA) in food and beverage sub-sector companies listed on the Indonesia Stock Exchange for the period 2021 - 2025. Data were collected through documentation study in the form of annual financial statements obtained from the official website of the Indonesia Stock Exchange (www.idx.co.id). The research sample consists of 24 companies selected through purposive sampling with a total of 120 observations. The analytical method employed is panel data regression using the Fixed Effect Model (FEM) approach with Panel EGLS (Cross-section Weights) estimation through EViews 13. The results indicate that partially, CR and DER individually have a positive but not significant effect on ROA. However, simultaneously, CR and DER have a significant effect on ROA with an Adjusted R-squared value of 90.09%.]]>
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