Pengaruh Firm Size, Debt to Equity Ratio, dan Inventory Turnover terhadap Return on Asset pada Perusahaan Farmasi Terdaftar di BEI Tahun 2017–2024

Return on Asset merupakan rasio profitabilitas yang digunakan untuk mengukur sejauh mana perusahaan mampu menghasilkan laba bersih dari total aset yang dimilikinya. Penelitian ini bertujuan untuk menganalisis pengaruh Firm Size, Debt to Equity Ratio, dan Inventory Turnover terhadap Return on Asset pada perusahaan farmasi yang terdaftar di Bursa Efek Indonesia (BEI) selama periode 2017–2024. Metode yang digunakan adalah metode kuantitatif asosiatif dengan teknik analisis regresi linier berganda berbasis data panel, serta teknik purposive sampling untuk pemilihan sampel sebanyak 7 perusahaan dari total 12 populasi. Pengolahan data dilakukan menggunakan software STATA 17, dengan model terbaik berdasarkan uji Chow dan Hausman yaitu Fixed Effect Model (FEM).Hasil penelitian menunjukkan bahwa secara simultan, variabel Firm Size, Debt to Equity Ratio, dan Inventory Turnover berpengaruh signifikan terhadap Return on Asset. Secara parsial, variabel Debt to Equity Ratio dan Inventory Turnover berpengaruh positif dan signifikan terhadap Return On Asset, sementara variabel Firm Size berpengaruh negatif signifikan. Nilai R² sebesar 34,14%.

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Return on Asset is a profitability ratio used to measure the extent to which a company is able to generate net profit from its total assets. This study aims to analyze the effect of Firm Size, Debt to Equity Ratio, and Inventory Turnover on Return on Assets in pharmaceutical companies listed on the Indonesia Stock Exchange (IDX) during the
2017–2024 period. The method used is an associative quantitative method with multiple linear regression analysis techniques based on panel data, as well as a purposive sampling technique for selecting a sample of 7 companies from a total of 12 populations. Data processing was carried out using STATA 17 software, with the best model based on the Chow and Hausman test, namely the Fixed Effect Model (FEM).
The results of the study show that simultaneously, the variables of Firm Size, Debt to Equity Ratio, and Inventory Turnover have a significant effect on Return on Assets. Partially, the variables of Debt to Equity Ratio and Inventory Turnover have a positive and significant effect on Return on Assets, while the variable of Firm Size has a significant negative effect. The R² value of 34.14%.