Pengaruh Return on Assets, Debt to Equity Ratio, dan Inventory Turnover terhadap Harga Saham pada Perusahaan Batu Bara di BEI (2020–2024)

Penelitian ini bertujuan untuk menganalisis pengaruh Return On Assets (ROA), Debt to Equity Ratio (DER), dan Inventory Turnover (ITO) terhadap harga saham pada perusahaan batu bara yang terdaftar di Bursa Efek Indonesia periode 2020–2024. Populasi penelitian berjumlah 47 perusahaan, dengan teknik purposive sampling diperoleh 11 perusahaan sebagai sampel penelitian. Metode analisis yang digunakan adalah regresi data panel dengan pengujian asumsi klasik, regresi linear berganda, uji hipotesis, dan uji koefisien determinasi menggunakan bantuan perangkat lunak EViews. Hasil penelitian menunjukkan bahwa ROA dan DER berpengaruh signifikan terhadap harga saham, sedangkan ITO tidak berpengaruh signifikan terhadap harga saham. Secara simultan, ROA, DER, dan ITO berpengaruh signifikan terhadap harga saham. Hasil uji koefisien determinasi menunjukkan nilai sebesar 21%, yang berarti variabel ROA, DER, dan ITO mampu menjelaskan variasi harga saham, sedangkan sisanya dipengaruhi oleh faktor lain di luar model penelitian. Investor dalam pengambilan keputusan investasi sebaiknya tidak hanya mempertimbangkan Inventory Turnover (ITO), karena ITO tidak terbukti berpengaruh signifikan terhadap harga saham, tetapi juga memperhatikan faktor internal perusahaan serta faktor eksternal yang memengaruhi pergerakan harga saham.

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This study aims to analyze the effect of Return on Assets (ROA), Debt to Equity Ratio (DER), and Inventory Turnover (ITO) on stock prices of coal companies listed on the Indonesia Stock Exchange for the 2020–2024 period. The study population consisted of 47 companies, and 11 companies were selected as samples using a purposive sampling technique. The analytical methods used were panel data regression with classical assumption testing, multiple linear regression, hypothesis testing, and coefficient of determination testing using EViews software. The results of the study indicate that ROA and DER significantly influence stock prices, while ITO does not. Simultaneously, ROA, DER, and ITO significantly influence stock prices. The coefficient of determination test results showed a value of 21%, indicating that ROA, DER, and ITO are able to explain variations in stock prices, while the remainder is influenced by factors outside the research model. Investors should consider not only Inventory Turnover (ITO) when making investment decisions, as ITO has not been shown to significantly influence stock prices, but also consider internal company factors and external factors that influence stock price movements.