Pengaruh Debt to Equity Ratio dan Net Profit Margin terhadap Harga Saham pada PT Adhi Karya (Persero) Tbk Periode 2014-2023

Abstract

This study aims to analyze the effect of the Debt to Equity Ratio (DER) and Net Profit Margin (NPM) on the stock price of PT. Adhi Karya (Persero) Tbk during the 2014-2023 period. The research method used is a quantitative method with a descriptive approach. The data used is secondary data obtained from the company's financial statements. The analytical techniques employed in this study include descriptive statistical analysis, classical assumption tests, multiple linear regression analysis, coefficient of determination test, and hypothesis testing using SPSS version 26. The research results indicate that, partially, the Debt to Equity Ratio (DER) variable does not significantly affect the stock price, with a significance value of 0.242 > 0.05 and a t-value of 1.277 < 2.365. Similarly, the Net Profit Margin (NPM) variable also does not significantly affect the stock price, with a significance value of 0.105 > 0.05 and a t-value of 1.861 < 2.365. Simultaneously, DER and NPM do not have a significant effect on the stock price, with a significance value of 0.236 > 0.05 and an F-value of 1.785 < 4.74. The coefficient of determination shows that DER and NPM contribute 33.8% to stock price variation, while the remaining 66.2% is influenced by other variables not examined in this study.