PENGARUH LIKUIDITAS, SOLVABILITAS DAN AKTIVITAS TERHADAP PROFITABILITAS PERUSAHAAN FARMASI YANG TERDAFTAR DI BEI

Abstract

This research aimed to analyzed the effect of liquidity, solvability and activity ratios on the profitability on pharmaceutical companies which were listed on the Indonesia Stock Exchange. While the liquidity was referred to current ratio (CR), solvability was referred to debt to equity ratio (DER), activity ratio was referred to total asset turnover (TATO) and profitability was referred to return on assets (ROA). The research was causal-comparative. Moreover, the data were secondary. Furthermore, the data collection technique used saturated sampling. In line with that, there were 7 companies which were listed on Indonesia Stock Exchange during the 2015-2019 as the sample. Additionally, the data analysis technique used multiple linear regression. Based on the classical assumption test, it concluded that all variables had fulfilled the assumptions and there were no violations. Likewise, according to F-test and R2 test, it showed that the model was properly used. In addition, from the hypothesis test, it concluded that both liquidity and solvability had a significant effect on profitability. On the other hand, activity had an insignificant effect on profitability.
Keyword: liquidity, solvability, activity, profitability.