Pengaruh Return On Assets dan Debt to Equity Ratio terhadap Harga Saham pada Perusahaan Sektor Energi yang Terdaftar di Bursa Efek Indonesia Periode 2021-2025
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Abstract
The energy sector is a strategic economic pillar in Indonesia that experienced significant volatility during the 2021–2025 period due to rising commodity prices in the post-pandemic era and global geopolitical instability. This condition underscores the importance of understanding the financial factors that influence stock prices of companies in this sector. This study aims to analyze the effect of Return On Assets (ROA) and Debt to Equity Ratio (DER) on stock prices, both partially and simultaneously, in energy sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2021–2025. This research employs a quantitative causal-associative approach with multiple linear regression analysis using IBM SPSS version 30. The sample consists of 20 companies selected through purposive sampling from a population of 91 companies, yielding 100 observations. The results show that ROA has a positive and significant effect on stock prices (t-value = 6.761; sig. < 0.001), while DER has a negative and significant effect (t-value = -8.779; sig. < 0.001). Simultaneously, ROA and DER significantly affect stock prices (F-value = 71.656; sig. < 0.001), with an Adjusted R Square of 0.588, indicating that both variables explain 58.8% of the variation in stock prices.
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References
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