PENGARUH CURRENT RATIO (CR) DAN DEBT TO EQUITY RATIO (DER) TERHADAP HARGA SAHAM PADA PT KALBE FARMA TBK PERIODE 2015-2024

Abstract

This study aims to determine the effect of the current ratio and debt to equity ratio on stock prices at PT Kalbe Farma Tbk for the period 2015-2024. This is a quantitative descriptive study using multiple linear regression analysis. Based on the results of the partial test (t-test), it was found that the Current Ratio variable does not have a significant effect on stock prices, as indicated by the t-value < t-table (-0.086 < 2.3060) and significance (0.934 > 0.05). Similarly, the Debt to Equity Ratio variable does not have a significant effect on Stock Price, with a t-value < t-table (-0.157 < 2.3060) and significance (0.880 > 0.05). Furthermore, the results of the simultaneous test (F-test) show that the Current Ratio and Debt to Equity Ratio together do not have a significant effect on Stock Price, with an F-value < F-table (0.021 < 4.46) and significance (0.979 > 0.05). Additionally, the Adjusted R² value is -0.278 (KD = -0.278 × 100% = -27.8%), meaning that the Current Ratio and Debt to Equity Ratio can only contribute 27.8% to changes in Stock Price, while the remaining 72.2% is influenced by other variables outside the scope of this study.