PENGARUH CURRENT RATIO, EARNING PER SHARE, DEBT TO EQUITY RATIO, NET PROFIT MARGIN, TERHADAP HARGA SAHAM PADA PERUSAHAAN LQ45 YANG TERDAFTAR DI BEI PERIODE 2022-2024

Abstrak

Abstract: This study aims to determine the simultaneous and partial effects of Current Ratio (CR), Earnings Per Share (EPS), Debt to Equity Ratio (DER), and Net Profit Margin (NPM) on stock prices of LQ45 companies listed on the Indonesia Stock Exchange (IDX). The sample in this study consists of 11 companies with a research period from 2022 to 2024, resulting in 33 observations. The research method used is multiple linear regression analysis with the assistance of SPSS version 27. The data analysis techniques include multiple linear regression testing, hypothesis testing using the F-test for simultaneous effects, t-test for partial effects with a significance level of 0.05, and the coefficient of determination test (R²). The multiple linear regression analysis results obtained the regression equation Y = (constant value) + the influence of each independent variable on stock prices. Based on the F-test results, it is found that simultaneously CR, EPS, DER, and NPM have a significant effect on stock prices, with a significance value of 0.000 < 0.05 and Fcount 12.491 > Ftable 2.71. The t-test results show that partially EPS and DER have a significant effect on stock prices, with significance values of 0.000 and 0.007 respectively (< 0.05), while CR and NPM do not have a significant effect on stock prices, with significance values of 0.472 and 0.440 respectively (> 0.05). The coefficient of determination (R²) result of 0.641 indicates that 64.1% of the variation in stock prices can be explained by the independent variables in the study, while the remaining 35.9% is explained by other variables outside the research model.

Keywords: Current Ratio (CR), Earnings Per Share (EPS), Debt to Equity Ratio (DER), Net Profit Margin (NPM), Stock Price.

Abstrak: Penelitian ini bertujuan untuk mengetahui pengaruh secara simultan dan parsial Current Ratio (CR), Earning Per Share (EPS), Debt to Equity Ratio (DER), dan Net Profit Margin (NPM) terhadap Harga Saham pada perusahaan LQ45 yang terdaftar di Bursa Efek Indonesia (BEI). Sampel dalam penelitian ini terdiri dari 11 perusahaan dengan periode penelitian tahun 2022–2024, sehingga diperoleh 33 data observasi. Metode penelitian yang digunakan adalah analisis regresi linier berganda dengan bantuan aplikasi SPSS versi 27. Teknik analisis data meliputi uji regresi linier berganda, uji hipotesis menggunakan uji F secara simultan, uji t secara parsial dengan tingkat signifikansi 0,05, serta uji koefisien determinasi (R²). Hasil analisis regresi linier berganda diperoleh persamaan Y = (nilai konstanta) + pengaruh masing-masing variabel independen terhadap Harga Saham. Berdasarkan hasil uji F, diketahui bahwa secara simultan variabel CR, EPS, DER, dan NPM berpengaruh signifikan terhadap Harga Saham dengan nilai signifikansi 0,000 < 0,05 dan Fhitung 12,491 > Ftabel 2,71. Hasil uji t menunjukkan bahwa secara parsial EPS dan DER berpengaruh terhadap Harga Saham dengan nilai signifikansi masing-masing 0,000 dan 0,007 (< 0,05), sedangkan CR dan NPM tidak berpengaruh terhadap Harga Saham dengan nilai signifikansi masing-masing 0,472 dan 0,440 (> 0,05). Hasil uji koefisien determinasi (R²) sebesar 0,641 menunjukkan bahwa sebesar 64,1% variasi Harga Saham dapat dijelaskan oleh variabel independen dalam penelitian, sedangkan sisanya 35,9% dijelaskan oleh variabel lain di luar model penelitian.

Kata Kunci: Current Ratio (CR), Earning Per Share (EPS), Debt to Equity Ratio (DER), Net Profit Margin (NPM), Harga Saham.