PENGARUH RASIO PROFITABILITAS DAN PERTUMBUHAN PENJUALAN TERHADAP HARGA SAHAM PADA PERUSAHAAN SUB SEKTOR FARMASI PERIODE TAHUN 2019-2023

This research aims to examine the influence of profitability ratios and sales growth on share prices of pharmaceutical sub-sector companies listed on the Indonesian Stock Exchange (BEI) for the 2019-2023 period. The research design used is a quantitative approach using secondary data. The population in this research are pharmaceutical sub-sector companies listed on the Indonesia Stock Exchange (BEI). The sample used was 6 companies registered on the IDX based on a purposive sampling method according to predetermined criteria. This research uses panel data regression analysis using E-views software to evaluate the hypotheses that have been made. The research results show that profitability ratios have varying impacts. NPM has a significant negative effect on stock prices with a Prob value of 0.0007 < 0.05, there is no influence of ROI on stock prices with a Prob value of 0.3295 > 0.05, there is no influence of ROE on stock prices with a Prob value of 0.1458 > 0.05, EPS has a significant positive effect on share prices with a Prob value of 0.0029 < 0.05. There is a significant negative influence of the sales growth variable on share prices with a Prob value of 0.0115 < 0.05. The results of this research provide empirical evidence that profitability ratios (NPM, ROI, ROE, EPS) and sales growth simultaneously have a significant positive influence on stock prices with a significant value of 0.0019 (Sig 0.0019 < 0.05). This shows that these factors play a key role in determining the market value of pharmaceutical companies.

Keywords: Profitability Ratio, Sales Growth, Share Price