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The purpose of this study is to analyze the effect of liquidity, asset efficiency, and capital structure on profitability in pharmaceutical manufacturing companies listed on the Indonesia Stock Exchange, using Return on Invested Capital (ROIC) as an investment-based profitability indicator. This research employs secondary data from the annual financial statements of pharmaceutical manufacturing companies over a specific period, with multiple linear regression analysis and robust models to ensure model feasibility. The results indicate that liquidity has no effect on profitability. Asset efficiency has a significant negative effect, reflecting the characteristics of the pharmaceutical industry with its high asset intensity. Capital structure has a significant positive effect on profitability, suggesting that measured use of debt can enhance the company’s return on investment. These findings provide theoretical contributions by enriching the literature on investment-based profitability determinants and practical implications for corporate management, investors, and stakeholders in understanding internal factors that influence the financial performance of pharmaceutical companies in Indonesia.

Stocks represent a capital market instrument with the potential to generate high returns. When making investment decisions, investors typically assess various internal aspects of a company, including its financial performance. The objective of this study is to examine the influence of profitability, liquidity, and leverage ratios on stock prices in the Indonesian banking sector, with a particular focus on state-owned banks, in both partial and simultaneous regression models. The methodology employed is quantitative analysis, with a secondary data set being utilized. The sample was determined using a purposive sampling technique, covering four state-owned banks (BRI, BNI, Mandiri, and BTN) for the 2010-2024 period. The findings of the analysis demonstrate that profitability and leverage exert a substantial negative influence on the stock prices of these banking institutions, while the liquidity ratio does not demonstrate a significant effect. Concurrently, all three variables exert an influence on stock prices, with an R-squared value of 58%.

In the investment world, stock returns are the leading indicator of a company’s performance and the basis for investor decision-making in the capital market. Fluctuations in stock returns reflect market expectations of the company’s prospects. The retail sector in Indonesia is facing significant pressure from post-pandemic shifts in consumer behavior and increased competition. This study aims to analyze the effect of financial distress, company size, liquidity, operating cash flow, and accounting profit on stock returns in retail sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the period 2021 to 2023. This type of research is causally associated with a quantitative approach. The data used is secondary, in the form of financial statements from retail companies. The sampling technique used was purposive, yielding a total of 39 data points from 13 retail companies. Data testing was carried out using SPSS version 24. The results showed that partially, the variables of financial distress, company size, liquidity, and accounting profit had no significant effect on stock returns. Meanwhile, operating cash flow positively impacts stock returns. These findings indicate that fundamental indicators are not always the main determinants of stock returns. Therefore, investors are advised also to consider external factors such as market sentiment, macroeconomic conditions, and government policies that may have a greater influence on stock performance in the capital market.

The Indonesia Stock Exchange (IDX) provides public access to investment. Investors can invest in various companies through publicly listed securities using capital market processes to obtain returns and dividends. To obtain returns and dividends, investors first read the company's financial statements to avoid losses. Aiming to provide empirical evidence, this study analyzed non-financial corporations listed on the IDX between 2020 and 2023 to determine the impact of financial performance on dividend policy, along with company size as a moderating variable. This research employed a quantitative approach and purposive sampling for data selection, which was updated in line with predetermined indicators. Over four years, 147 different companies served as study samples. The study used warpPLS 7.0 as a data analysis tool and combined outer and inner models to evaluate independent variable hypotheses and moderating hypotheses. The study found that liquidity plays a role in dividend policy, profitability plays a role in dividend policy, activity plays a role in dividend policy, and only solvency does not play a role in dividend policy. It was also found that company size does not moderate the relationship between liquidity and dividend policy, but it does moderate the relationship between profitability and dividend policy. Company size also does not moderate the relationship between activity and dividend policy, and does not strengthen the relationship between solvency and dividend policy.

The purpose of this study is to assess the financial performance of PT Mayora Indah Tbk. through an analysis of profitability and liquidity ratios over the past five years. A company's financial performance is a key indicator in evaluating operational success, managerial efficiency, and overall financial health. This assessment is important for investors, management, and other stakeholders in strategic decision-making. This study uses a quantitative descriptive approach with a case study as its primary method. The data analyzed are secondary data in the form of PT Mayora Indah Tbk.'s annual financial reports published on the Indonesia Stock Exchange. The ratios analyzed include Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) as profitability indicators, and Current Ratio (CR), Quick Ratio (QR), and Cash Ratio as liquidity indicators. The results of the study indicate that in general, the company is able to maintain a stable level of profitability, despite minor fluctuations from year to year. ROA and ROE indicate that management is quite effective in managing assets and equity to generate profits. NPM also shows a competitive net profit margin compared to similar industries. Meanwhile, the liquidity ratio indicates that PT Mayora Indah Tbk. has a strong and consistent ability to meet its short-term obligations. The CR, QR, and Cash Ratio are all within safe limits, indicating healthy liquidity. In conclusion, PT Mayora Indah Tbk. demonstrates good financial performance in terms of both profitability and liquidity, making it a company worthy of consideration for long-term investment.

This research is motivated by the phenomenon of stock price fluctuations in manufacturing companies, which reflect market instability, both internal and external to the company. These volatile stock price changes create uncertainty for investors, particularly when financial performance indicators such as Return on Assets (ROA), Current Ratio (CR), and Net Profit Margin (NPM) show varying results across companies and time periods. Strong financial performance is usually a positive signal for investors, but inconsistencies in these indicators raise doubts in investment decision-making. The purpose of this study is to analyze the effect of ROA, CR, and NPM on stock prices in manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2021 to 2024. This study uses a quantitative approach with a causal research type, where the data used are secondary data obtained from the companies' annual financial reports. The sampling technique used was purposive sampling, with certain criteria, resulting in a sample of 85 companies. With an observation period of four years, a total of 340 observations were analyzed. The analysis was conducted using multiple linear regression with the help of SPSS version 30 software. The results of the analysis indicate that, partially, ROA and CR have a significant influence on stock prices. This means that increasing the efficiency of asset use and the company's ability to meet short-term obligations are important factors considered by investors. However, NPM does not have a significant influence partially on stock prices. Nevertheless, all three variables simultaneously have a significant influence on stock prices. This finding has important implications for company management, namely that increasing asset efficiency and optimal liquidity management can strengthen a company's attractiveness to investors by improving credible financial performance.

Using the Systematic Literature Review (SLR) method, the purpose of this study is to investigate the effect of financial performance on the stock prices of food and beverage manufacturing companies listed on the Indonesia Stock Exchange (IDX) from 2020 to 2024. The financial performance factors analyzed include Return on Assets (ROA), Current Ratio (CR), Debt to Equity Ratio (DER), and Return on Investment (ROI). Data were collected from fifteen nationally accredited scientific articles published during the period and were eligible for inclusion. The results show that Return on Assets (ROA) consistently has a positive effect on stock prices, making it the most important indicator to attract investors. Since investors prioritize profitability over short-term liquidity, Current Ratio (CR) is usually not very influential. Debt to Equity Ratio (DER) results vary depending on the debt condition of companies and their financial plans. However, Return on Investment (ROI), which has not been studied much, seems to have a significant impact on stock prices and is starting to attract the attention of investors in the food and beverage industry. This study helps by providing a comprehensive picture of the pattern of influence of financial ratios on stock prices and complements the shortcomings of current research, especially regarding the ROI variable which is still minimal in previous studies. It is hoped that these findings will help investors, company management, academics, and regulators make decisions and create investment strategies in the Indonesian capital market.

Stock return refers to the income received by investors from their investment in a firm, either directly or through a securities firm. The level of stock return is crucial in investment analysis as it serves as a key indicator for investors in evaluating the performance and profit potential of a stock. This study aims to examine the effect of profitability, liquidity, leverage, and firm size on stock returns in manufacturing sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2023 period. The sampling technique used was purposive sampling, resulting in a sample of 65 companies. Data analysis techniques employed include descriptive statistics and inferential statistics, processed using IBM SPSS 25. The findings indicate that profitability has a significant positive effect on stock return, liquidity has a significant positive effect, leverage has a significant negative effect, and firm size also has a significant positive effect on stock return. The implications of this study are expected to provide empirical contributions regarding the influence of these variables on stock returns and to offer managerial insights and additional references for corporate decision-making aimed at increasing stock returns.   Keywords: stock return, profitability, liquidity, leverage, firm size

This study aims to examine the effect of liquidity, profitability, and solvability ratios on investment decisions while also investigating the moderating role of firm size in this relationship. The research focuses on manufacturing companies listed on the Indonesia Stock Exchange for 2019-2023, which are marked by significant economic disruptions, including the COVID-19 pandemic. A quantitative approach was employed, using panel data regression to test the proposed hypotheses. Financial ratios were measured using the current ratio, return on assets, and debt-to-equity ratio, while investment decisions were assessed using the price-earnings ratio. The natural logarithm of total assets measured firm size. The results reveal that liquidity and solvability significantly influence investment decisions, while profitability does not. Firm size was found to moderate the relationship between liquidity and solvability with investment decisions, but not the relationship involving profitability. These findings have practical implications for investors and corporate managers in formulating investment strategies and managing financial performance, highlighting the importance of considering firm size when evaluating the effectiveness of economic indicators. This research also contributes to the empirical literature on investment decision-making in the manufacturing sector.

This study examines the effect of market risk, investor sentiment, and interest rates on the performance of energy sector stocks in Indonesia for the period 2019–2023, with market liquidity as a mediating variable. The study was conducted through a literature review by identifying and analyzing various related studies. Secondary data was obtained from scientific journals and related reports using relevant literature selection techniques. The results of the study indicate that oil price volatility, investor sentiment, and interest rate changes significantly affect the performance of energy sector stocks. Market liquidity was found to be able to reduce the negative impact of market risk and interest rates, and strengthen the positive influence of investor sentiment on stock prices. This study concludes that market liquidity plays an important buffer in maintaining the stability of stocks in the energy sector, especially in dealing with market fluctuations. The results of this study contribute to investment managers in developing more adaptive portfolio strategies and to regulators in creating policies that support market liquidity.

Profit growth is the rate of increase in profit obtained by a company. Profit growth is an important factor in assessing a company's financial performance. This study aims to examine the effect of financial ratios on profit growth in infrastructure sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2019-2022. The research sample used was 20 companies with 80 observation samples. The financial ratios used are liquidity, solvency, profitability, and activity ratios. These financial ratios are proxied by the Current Ratio (CR), Debt to Equity Ratio (DER), Return on Assets (ROA), and Total Asset Turnover (TAT), respectively. Testing was carried out using multiple linear regression analysis. Based on the results of the hypothesis test, it is known that the profitability ratio proxied by Return on Assets (ROA) has a positive effect on profit growth and the activity ratio proxied by Total Asset Turnover (TAT) has a negative effect on profit growth. Other results, namely the liquidity ratio proxied by the Current Ratio (CR) and the solvency ratio proxied by the Debt to Equity Ratio (DER) have no effect on profit growth. These results mean that the profitability ratio and activity ratio can be determinants of profit growth predictors and can be a reference for investors to make investment decisions.

The main objective of this study is to examine the impact of investment on stock performance both directly and by using the role of liquidity. The population of shares included in JII70 for the 2019-2022 period, using purposive sampling, obtained 38 shares that met the criteria, thus there were 152 data used in testing, using the MRA analysis tool. The test results showed that investment had a significant direct impact on improving stock performance, and was also further strengthened by liquidity.

This research is motivated by a decrease in the Liquidity Ratio in cash and cash equivalents due to an increase in investment acquisition and purchase of fixed assets which will cause depreciation expenses in the coming years to be greater which will directly reduce the company's profit. The Solvency Ratio has increased due to an increase in debt which will directly increase interest expenses, so it must be covered from operating profit. The Profitability Ratio has decreased in current year profit because the increasing amount of expenses will reduce net profit. The Activity Ratio has decreased inventory turnover due to decreased sales which has resulted in an increase in the amount of inventory. The purpose of this study is to determine the effect of Liquidity, Solvency, Profitability and Activity on Financial Performance at PT. Adi Sarana Armada Tbk. which is listed on the Indonesia Stock Exchange (IDX). The method used in this study is a quantitative descriptive method, the data in this study uses secondary data. Based on the results of the study, it shows that Liquidity ratio using Current Ratio has a partial positive effect on Financial Performance with Good criteria, this shows the company's ability to pay short-term obligations. Solvency ratio using Debt To Equity Ratio does not have a partial effect on Financial Performance with Poor criteria, this shows the company's inability to meet long-term obligations because risk assessment is ineffective, resulting in a greater risk of loss. Profitability ratio using Return On Asset does not have a partial effect on Financial Performance with Poor criteria, this shows that it is inefficient in using its assets to generate profits and ineffectiveness in accounts receivable turnover so that the small capital invested. Activity ratio using Total Asset Turn Over has a partial positive effect on Financial Performance with Very Good criteria, this shows the company's ability to utilize its assets to generate income.

Stock returns are the results obtained from stock investments. Financial performance is said to have a big influence on stock returns, therefore it is necessary to pay attention to information and carry out an analysis of the condition of the company's financial statements using financial ratios. The aim of this research is to determine the influence of Liquidity, Leverage, Activity and Profitability on stock returns both partially and simultaneously. The company population in this study was 15 companies and 65 samples, using secondary data and purposive sampling techniques with the results of annual financial reports of manufacturing companies in various industrial sectors listed on the BEI for the 2018-2022 period. Data analysis in this research uses descriptive analysis, classical assumption tests consisting of data normality tests, multicollinearity tests, autocorrelation tests and heteroscedasticity tests, multiple regression tests and hypothesis tests consisting of t tests, F tests and coefficient of determination tests. Based on the results of this research, it shows that liquidity and leverage have a significant effect on stock returns. Activity and profitability have no effect on stock returns. And Liquidity, Leverage, Activity and Profitability simultaneously have a significant effect on stock returns.

In this study, researchers want to see the financial performance condition of the Hanjaya Mandala Sampoerna company when measured using liquidity, solvency, profitability and activity ratios. The Hanjaya Mandala Sampoerna Company is the largest tobacco cigarette industry in Indonesia. The data used for the ratio measurement process are taken from the company's financial reports on the Indonesia Stock Exchange Investment Gallery website using documentation and library data collection techniques (Library Research), namely collecting and combining several data that are appropriate to research. This type of research is descriptive quantitative which describes several phenomena which are then described and analyzed again. The results of research over the last five years of Hanjaya Mandala Sampoerna Tbk's financial performance on liquidity, solvency and profitability ratios are still said to be not good, but the activity ratio produces good financial performance in 2018-2022.  

This research aims to analyze the financial performance of PT. Unilever Indonesia Tbk which is listed on the Indonesia Stock Exchange, based on the Liquidity Ratio and Profitability Ratio at PT. Unilever Indonesia Tbk for the 2020-2022 period. Data Analysis Technique is a quantitative analysis technique, namely data in the form of numbers which include financial reports at PT. Unilever Indonesia Tbk. In the research results based on Liquidity and Profitability Ratios, the financial performance of PT. Unilever Indonesia Tbk's Liquidity Ratio experienced fluctuations from 2020-2022 or instability in PT's financial performance. Unilever Indonesia Tbk. The Liquidity Ratio can be said to be in poor condition with the Current Ratio and Quick Ratio methods not meeting industry standards, while the Cash Ratio is able to reach industry standards that have been set. Then the Profitability Ratio can be said to be in poor condition, with the Return On Equity method meeting industry standards, while Return On Investment and Net Profit Margin do not meet industry standards because they decline every year.

The purpose of this research is to evaluate PT. Batulicin Nusantara Maritim's financial performance between 2018 and 2022 based on its profitability and liquidity ratios. The financial accounts of PT. Batulicin Nusantara Maritim, a coal transportation service provider listed on the investment gallery of the Indonesian Stock Exchange (GIBEI), are the subject of this study. An analysis of the documentation was the method employed to prepare this research. Data is collected through the study, recording, and classification of documentation. This study requires the gathering of data from a corporation in the form of financial reports, which will then be used as research material. The data was then compiled, classified, confidentially handled, and evaluated using quantitative descriptive analysis to offer a summary of the issues encountered or looked into. Results of the study The financial performance of PT. Batulicin Maritime Archipelago is impacted by the profitability ratio and liquidity ratio of PT. Batulicin Nusantara Maritim during the years 2018 to 2022. has an effect on the financial performance of PT. Batulicin Nusantara Maritim.

Financial statements are very important for investors for making investment decisions. Financial ratios are very useful for predicting the stock price in an enterprise in the future. This is because financial ratios can be used as guidelines for investors regarding the past and future performance. The research data used is secondary data taken from the annual report on the Indonesia Stock Exchange (IDX) for 2018-2020. The population of this research is manufacture companies. Based on the purposive sampling method, the researches obtained 438 samples from 146 companies for 3 years, namely 2018-2020. This study uses panel data analysis techniques and SPPS. The results obtained show that the liquidity variable is a factor that influences the dependent variable in this study. Liquidity has a significant positive effect. And Leverage has a significant negative effect. Meanwhile, the factors that do not affect stock return are profitability and activity variables.