Pengaruh Current Ratio dan Debt To Asset Ratio Terhadap Retrun On Equity RatioPT Telkom Indonesia (PERSERO) Tbk Periode 2014-2023

Riska Putriana; Muhammad  Badru Zaman

doi:10.58174/s15x3q04

Authors

Riska Putriana Universitas Pamulang
Muhammad Badru Zaman Universitas Pamulang

DOI:

https://doi.org/10.58174/s15x3q04

Keywords:

Current Ratio; Debt to Asset Ratio; Return on Equity; Likuiditas; Struktur Modal., Current Ratio; Debt to Asset Ratio; Return on Equity; Liquidity; Capital Structure.

Abstract

This study aims to analyse the effect of the Current Ratio and Debt to Asset Ratio on Return on Equity at PT Telkom Indonesia (Persero) Tbk during the period 2014–2023. Return on Equity (ROE) is a crucial indicator used to measure a company’s effectiveness in generating profits from the capital invested by shareholders. Therefore, this research employs a quantitative approach using multiple linear regression analysis. The data used in this study were obtained from the company’s annual financial reports published over ten years on the official website of the Indonesia Stock Exchange. The t-test results show that the Current Ratio does not have a significant effect on Return on Equity, with a t-statistic = 1.706721 < t-table = 2.3646 and a significance level of 0.1316 > 0.05. Likewise, the Debt to Asset Ratio also has no significant effect on Return on Equity, with a t-statistic = 0.464266 < t-table = 1.89458 and a significance level of 0.6566 > 0.05. Furthermore, the F-test results indicate that both the Current Ratio and Debt to Asset Ratio simultaneously do not have a significant effect on Return on Equity, with an F-statistic = 1.801276 < F-table = 4.74 and a significance level of 0.233833 > 0.05. The coefficient of determination (R²) is 0.339782, meaning that 33.97% of the variation in Return on Equity is explained by both independent variables, while the remaining 66.03% is explained by other variables outside the model. The findings conclude that liquidity and funding structure do not significantly influence shareholder profitability during the observed period.

References

BUKU:

Darminto, D. P. (2019). Analisa Laporan Keuangan: Konsep dan Aplikasi. UPP STIM YKPN.

Fahmi, I. (2018). Pengantar Manajemen Keuangan: Teori dan Soal Jawab (M. A. Djalil, Ed.). Alfabeta.

Ghozali, I. (2021). Aplikasi Analisis Multivariate Dengan Program IMB SPSS 24. Badan Penerbit Universitas Diponegoro.

Halim, A., & Hanafi, M. M. (2018). Analisis Laporan Keuangan. UPP STIM YKPN.

Handini, S., & Astawinetu, E. D. (2020). Manajemen Keuangan: Teori dan Praktek. Scopindo Media Pustaka.

Hery. (2018). Analisis Laporan Keuangan (3 ed.). PT. Grasindo.

Jatmiko, D. P. (2017). Pengantar Manajemen Keuangan. Diandra Kreatif.

Kariyoto. (2017). Analisa Laporan Keuangan. UB Press.

Kasmir. (2019). Analisis Laporan Keuangan (12 ed.). Rajawali Pers.

Munawir, S. (2020). Analisis Laporan Keuangan. Liberty.

Musthafa. (2017). Manajemen Keuangan. CV. Andi Offset.

Napitulu, R. B., Simanjuntak, T. P., Hutabarat, L., Damanik, H., Harianja, H., Sirait, R. T. M., & Tobing, C. E. R. L. (2021). Penelitian Bisnis Teknik dan Analisis dengan SPSS - STATA - EViews (1 ed.). Madenatera.

Pandey, I. M. (2019). Financial Management (11 ed.). Vikas Publishing House .

Rambe, M. F. (2019). Manajemen Keuangan. Cipta Pustaka Media.

Sartono, A. (2019). Manajemen Keuangan Teori dan Aplikasi. BPFE.

Sawir, A. (2018). Analisis Kinerja Keuangan dan Perencanaan Keuangan. Gramedia Pustaka Utama.

Sugiyono. (2020). Metode Penelitian Kuantitatif, Kualitatif dan Kombinasi (Mixed Methods) (2 ed.). Alfabeta.

Sutrisno. (2017). Manajemen Keuangan, Teori Konsep Dan Aplikasi (2 ed.). Ekonisia.

Syamsuddin, L. (2016). Manajemen Keuangan Perusahaan Konsep Aplikasi Dalam: Perencanaan, Pengawasan dan Pengambilan Keputusan. Raja Grafindo Persada.

JURNAL:

Dumilah, R. (2021). Pengaruh Current Ratio Dan Debt To Equity Ratio Terhadap Return On Equity Survey pada Tobacco Manufacture Indonesia. Jurnal Semarak, 4(1), 96–106.

Efendi, A. F. W., & Wibowo, S. S. A. (2017). Pengaruh Debt To Equity Ratio (DER) dan Debt to Asset Ratio (DAR) Terhadap Kinerja Perusahaan Di Sektor Keuangan Yang Terdaftar Di Bursa Efek Indonesia. Journal Of Applied Managerial Accounting, 1(2), 157–163.

Khoiriah, N. (2019). Pengaruh Current Ratio, Debt To Equity Ratio Dan Total Asset Turnover Terhadap Return on Equity Implikasinya Pada Nilai Perusahaan (PBV). Jurnal Ekonomi Efektif, 2(1), 82–93.

Maharani, W., & Kartono. (2024). Pengaruh Current Ratio dan Debt to Asset Ratio terhadap Return on Equity pada PT. Perusahaan Listrik Negara (Persero) Periode 2014-2023. Cakrawala: Jurnal Ekonomi, Manajemen dan Bisnis, 1(4), 1105–1114.

Malik, E., & Merliana, W. O. silfi. (2024). Analisis Debt To Equity Ratio, Debt To Total Asset Dan Current Ratio Terhadap Return on Equity Pada Perusahaan Manufaktur Yang Terdaftar Di BEI Tahun 2018-2020. Jurnal Mahandia, 8(1), 1–14.

Purwati, Y. A., & Fahmy, E. (2024). Pengaruh Current Ratio Dan Debt to Asset Ratio Terhadap Return on Equity Pada PT Telkom Indonesia (Persero) Tbk Periode 2013-2023. JEAC: Journal of Economic Academic, 1(2), 627–634.

Rizkiani, N. R., & Priyanto, A. A. (2022). Pengaruh Current Ratio (CR) Dan Debt To Equity Ratio (DER) Terhadap Return on Equity (ROE) Pada PT. Dharma Samudera Fishing Industries Tbk Periode Tahun 2009-2018. Jurnal ARASTIRMA Universitas Pamulang, 2(1), 122–130.

Rochman, A. A., & Suhartono, A. (2024). Pengaruh Current Ratio Dan Debt to Asset Ratio Terhadap Return on Equity Pada PT Ultrajaya Milk Industry And Trading Company Tbk Tahun 2012-2022. JEAC: Journal of Economic Academic, 1(2), 404–412.

Safitri, L., & Nurcahayati, S. (2025). Pengaruh Current Ratio Dan Debt to Asset Ratio Terhadap Return on Equity Pada PT Unilever Indonesia Tbk Periode 2013-2023. Journal of Research and Publication Innovation, 3(1).

Sari, N., & Sumiyarsih. (2022). Pengaruh Leverage, Ukuran Perusahaan Dan Current Ratio Terhadap Kinerja Keuangan Perusahaan Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia (BEI) Periode 2013-2018. Jurnal Ekonomi Manajemen dan Akuntansi, 1(1), 39–54.

Sitohang, A. W., & Wulandari, B. (2020). Pengaruh Current Ratio, Debt To Equity Ratio, Earning Per Share, terhadap Kinerja Keuangan. Journal of Education, Humaniora and Social Sciences (JEHSS), 3(2), 577–585.

Wardani, J. I., & Ganar, Y. B. (2025). Pengaruh Debt to Asset Ratio Dan Total Asset Turnover Terhadap Return on Equity Pada PT Adaro Energy Indonesia Tbk Periode 2014-2023. Jurnal Intelek Insan Cendikia, 2(2), 3906–3920