PENGARUH NET PROFIT MARGIN DAN EARNING PER SHARE TERHADAP HARGA SAHAM PT INDOFOOD SUKSES MAKMUR TBK PERIODE 2014 – 2023

Abstract

This study aims to determine the effect of Net Profit Margin (NPM) and Earning Per Share (EPS) on stock prices at PT Indofood Sukses Makmur Tbk for the period 2014–2023. The method used is a descriptive quantitative approach with secondary data in the form of the company's annual financial reports. The analysis technique applied is multiple linear regression using Eviews 12 software. The results of the analysis show that partially, Net Profit Margin does not have a significant effect on stock prices, evidenced by the calculated t-value of 0.0377 which is smaller than the t-table of 1.860, and a significance value of 0.9708, where the value is greater than 0.05. Likewise, the Earning Per Share variable, which has a calculated t-value of -0.5831 which is smaller than the t-table of 1.860 with a significance value of 0.5759, where the value is greater than 0.05 so it does not show a significant effect on stock prices. Simultaneously, the F-test results yielded a calculated F-value of 0.7077, which is smaller than the F-table of 4.7374, and a significance value of 0.5249, greater than 0.05. This indicates that the two variables together also have no significant effect on the company's stock price. The coefficient of determination (R²) of 0.1681 indicates that only 16.81% of the stock price variation can be explained by NPM and EPS. Based on these results, investors are advised to consider other fundamental factors and external conditions before making investment decisions.