PENGARUH PERTUMBUHAN PENJUALAN, LIKUIDITAS DAN LEVERAGE KEUANGAN TERHADAP PROFITABILITAS PADA PERUSAHAAN MANUFAKTUR SUB-SEKTOR FARMASI YANG TERDAFTAR DI BURSA EFEK INDONESIA TAHUN 2021-2024

Abstract

The purpose of this study is to determine and explain the effect of Sales Growth, Liquidity, and Financial Leverage on Profitability in Pharmaceutical Manufacturing Companies Listed on the Indonesia Stock Exchange from 2021 to 2024. The study population consisted of 13 companies, and a sample of 10 companies was selected using a purposive sampling method, resulting in 40 observational data. This data was obtained from www.idx.co.id. The sampling technique used was multiple linear regression with the help of EViews 13 software. The results show that Sales Growth (SG) has no significant effect on Profitability (ROA), with a significance level of 0.5916 > 0.05 and a calculated t of 0.542991 < ttable of 1.68830. Liquidity (CR) has no significant effect on profitability (ROA), with a significance level of 0.2098 > 0.05 and t count of 1.284869 < t table of 1.68830. Financial leverage (DER) has a significant negative effect on profitability (ROA), with a significance level of 0.0000 < 0.05 and t count of 8.515302 > t table of 1.68830. The coefficient of determination (R2) = 87.11% indicates the magnitude of the influence of sales growth, liquidity and financial leverage on profitability, while another 12.89% is influenced by other factors not included in this study. From the results of the F test, it is known that F count is 5.606561 > F table of 2.866 so that H0 is rejected and H1 is accepted, meaning that simultaneously the variables of Sales Growth, Liquidity and Financial Leverage have a significant effect on Profitability in Pharmaceutical Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange in 2021-2024.