Pengaruh Return On Investment, Earning Per Share, dan Net Profit Margin Terhadap Harga Saham

Abstrak

This study aims to analyze and empirically test the effect of Return on Investment (ROI), Earning Per Share (EPS), and Net Profit Margin (NPM) on the stock prices of state-owned banking companies listed on the Indonesia Stock Exchange (IDX) for the 2021-2024 period. This research applies a causal associative design with a quantitative approach, grounded in Signalling Theory. The data used are secondary data collected through documentation from quarterly financial statements and quarterly closing stock prices. A total of 64 panel data observations were obtained using a purposive sampling technique from four state-owned banks. The data analysis techniques include descriptive statistical analysis, classical assumption testing, multiple linear regression analysis, and hypothesis testing via the coefficient of determination, the F-test, and the t-test. The results show that partially, Return on Investment (ROI) and Net Profit Margin (NPM) have a positive and significant effect on the stock prices of state-owned banking companies, with NPM being the most powerful and dominant financial determinant. Conversely, Earning Per Share (EPS) partially has a significant effect but shows a negative relationship with stock prices. Simultaneously, ROI, EPS, and NPM collectively exert a significant influence on stock price movements, contributing to a coefficient of determination of 89.4%.