PENGARUH PROFITABILITAS, LEVERAGE, DAN ARUS KAS TERHADAP NILAI PERUSAHAAN

Abstract

This research aimed to examine the effect of profitability, leverage, and cash flow on the firm value of the manufacturing sector of the Food and Beverage companies listed on the Indonesia Stock Exchange 2016-2021. The profitability was referred to as Return On Asset (ROA), leverage was referred to as Debt to Equity Ratio (DER), and cash flow was referred to as Operation Cash Flow. While the dependent variable was firm value which was referred to as Price Book Value (PBV). This research was quantitative. Moreover, the population was Food and Beverage manufacturing companies listed on Indonesia Stock Exchange (IDX) for 6 years (2016-2021). The data collection technique used purposive sampling. In line with that, there were 16 companies as the sample. Additionally, the data analysis technique used multiple linear regressions. The research result showed that (a) profitability had a positive effect on the firm value. It meant, the higher the profitability was, the higher the firm value would be, (b) leverage had a positive effect on the firm value. This meant, the higher the leverage was, the higher the firm value would be, (c¢) cash flow did not affect the firm value. In other words, the amount of operational cash flow within financial statement did not affect firm value.