PENGARUH LIKUIDITAS, PROFITABILITAS, DAN LEVERAGE TERHADAP HARGA SAHAM PADA PERUSAHAAN FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA

Abstract

This research aims to find out and analyze the effect of liquidity, profitability, and leverage on the stock price of Pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during 2019-2023. Furthermore, liquidity was referred to as the Current Ratio, profitability was referred to as Return On Asset, and leverage was referred to as Debt to Equity Ratio. The study applies quantitatively with a causal-comparative correlation. Moreover, the data were secondary in the form of financial statements at the Indonesia Stock Exchange (IDX). The data collection technique used a purposive sampling method with determined criteria. In line with that, there were 6 pharmaceutical companies during 5 years (2019-2023) taken as samples. Therefore, 13 data samples were analyzed. In addition, the data analysis technique used multiple linear regressions with the SPSS 26 version. The result concludes that both liquidity (Current Ratio) and Leverage (Debt to Equity Ratio) have a positive and significant effect on stock price. On the other hand, profitability (Return on Asset) has a positive but insignificant effect on stock price.