<![CDATA[This study aims to examine the effect of Return on Equity (ROE), Earnings per Share (EPS), Debt-to-Equity Ratio (DER), and Capital Intensity (CI) on the stock prices of Consumer Non-Cyclicals companies listed on the Indonesia Stock Exchange. The study employs a quantitative approach using secondary data obtained from annual reports and financial statements for the 2021–2025 period. 285 observations were selected using purposive sampling, and the data were analyzed using panel data regression with the Fixed Effects Model and the Driscoll–Kraay estimator. The findings indicate that all four financial ratios significantly influence stock prices. Earnings per Share has a positive effect on stock prices, whereas Return on Equity, Debt-to-Equity Ratio, and Capital Intensity exhibit negative effects. These findings suggest that earnings performance plays an important role in determining stock prices, while leverage and capital investment remain important considerations in investors' evaluation of company performance.]]>
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