PENGARUH PROFITABILITAS DAN PERTUMBUHAN PENJUALAN TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of profitability and sales growth on the firm value at manufacturing companies in the Food and Beverages sector at Indonesia Stock Exchange (IDX) in the 2016-2020 periods. Profitability was proxy with Return on Asset (ROA), sales growth proxy with Net Sales Growth Ratio and firm value proxy with Price to Book Value (PBV). This research was quantitative with secondary data. The research sample collection technique used the purposive sampling method, therefore it obtained nine research samples that fulfilled the criteria. Furthermore, the period of sample observation took 5 years and the research sample used 45 observation data. Moreover, the analysis method of this research used multiple linear regressions analysis with SPSS program 26 version. The research result showed that profitability had a significantly positive effect on the firm value. From those results, the company experiences increasing profit continuously so that it attracts the investors' interest. Meanwhile, the sales growth had a positive but insignificant effect on the firm value. From those results, the company experienced an increase in sales, nevertheless, it was not always followed with the firm value increased. Because the greater the sales growth, the more debt and the company could not process debt properly so that it could not increase the value of the company.
Keywords: profitability, sales growth, firm value