PENGARUH SOLVABILITAS, LIKUIDITAS, PROFITABILITAS TERHADAP HARGA SAHAM PADA SEKTOR FARMASI YANG TERDAFTAR DI BEI

Abstract

The pharmaceutical industry is crucial for meeting public health needs, particularly during declining health conditions, making it more resilient to crises than other sectors. This study investigates the impact of solvency, liquidity, and profitability on the stock prices of pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. The research was quantitative with a causal-comparative approach, utilizing purposive sampling with a sample size of 7 companies. Secondary data from financial statements available on IDX and GIBEI STIESIA Surabaya websites were used, and the analysis involved multiple linear regression conducted with SPSS.
The research result showed solvability which was a proxy with DER, had a negative and significant effect on the stock price. However, liquidity which was a proxy with CR had a negative and significant effect on the stock price. In contrast, profitability which was a proxy with ROA; had a positive and significant on the stock price. Therefore, the pharmaceutical industry should prioritize solvability, liquidity, and profitability as key indicators of the company's success.