PENGARUH RETURN ON ASSET (ROA), DAN DEBT TO EQUITY RATIO (DER) TERHADAP HARGA SAHAM PADA PT INDOCEMENT TUNGGAL PRAKARSA Tbk PERIODE 2014-2024

Abstract

This study aims to determine the effect of Return On Asset and Debt To Equity Ratio on stock prices at PT Indocement Tunggal Prakarsa Tbk for the period 2014-2024. This study uses a quantitative method with a descriptive statistical analysis approach. The analysis consists of classical assumption tests, multiple linear regression, hypothesis testing, and determination coefficient analysis (R²). The data used in this study is secondary data processed using SPSS version 25. The results of the study indicate that Return on Assets does not have a significant effect on stock prices, where the t-value is 0.851 < t-table 2.306 with a significance level of 0.420 > 0.05. The Debt to Equity Ratio has a significant negative effect on stock prices, where the t-value is -4.113 > t-table 2.306 with a significance level of 0.003 < 0.05. Simultaneously, Return on Assets and Debt to Equity Ratio have a significant effect on stock prices, where the t-value is 13.441 > t-table 4.46 with a significance level of 0.003 < 0.05. Meanwhile, the coefficient of determination (R²) is 77.1%, with the remaining 22.9% influenced by factors outside the research model.