Escalate : Economics and Business Journal
Vol. 4 No. 4 (2026): Escalate : Economics and Business Journal

The Influence of Current Ratio (CR), Total Asset Turnover (TATO) and Debt to Equity Ratio (DER) on Profit Growth (PG) at PT Kalbe Farma Tbk for the 2015-2024 Period

Lintang Yuniya Rahayu (Program Studi Manajemen Fakultas Ekonomi Dan Bisnis Universitas Pamulang Tangerang Selatan)
Fakung Rahman (Program Studi Manajemen Fakultas Ekonomi Dan Bisnis Universitas Pamulang Tangerang Selatan)



Article Info

Publish Date
22 Oct 2026

Abstract

The pharmaceutical industry has a strategic role in supporting the health system, while companies face challenges in maintaining sustainable profit growth amidst changing economic and business conditions. This study aims to analyze the effect of Current Ratio (CR), Total Asset Turnover (TATO), and Debt to Equity Ratio (DER) on Profit Growth (PG) at PT Kalbe Farma Tbk for the period 2015โ€“2024. The study uses a quantitative approach with a causal associative method. The study population consists of the company's officially published quarterly and annual financial reports, while the sample consists of the financial position report and income statement for the period 2015โ€“2024. Data were collected through indirect observation and document study, then analyzed using descriptive statistics, classical assumption tests, multiple linear regression, t-tests, F-tests, correlation analysis, and coefficients of determination with SPSS 25. The results of the study indicate that CR, TATO, and DER partially have no significant effect on PG with significance values โ€‹โ€‹of 0.385, 0.386, and 0.721, respectively. Simultaneously, the three variables also did not significantly influence PG with an F value of 0.864 and a significance level of 0.509. In conclusion, CR, TATO, and DER were not significant determinants of profit growth during the observation period.

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Journal Info

Abbrev

escalate

Publisher

Subject

Economics, Econometrics & Finance

Description

Escalate invites both empirical and theoretical articles that explore micro and macro phenomena. The journals publication scope encompasses a wide array of domains, including macro and micro economics, business strategy and policy, entrepreneurship, finance and accounting studies, human resource ...