PENGARUH SOLVABILITAS, PROFITABILITAS DAN HARGA SAHAM TERHADAP NILAI PERUSAHAAN PADA PT GUDANG GARAM TBK PERIODE 2013-2023

Abstract

The purpose of this study is to determine the effect of solvency, profitability and stock prices on company value at PT Gudang Garam Tbk for the 2013-2023 period. The method used is quantitative. The sampling technique uses saturated sampling and obtained 11 samples, namely the financial statements of PT Gudang Garam Tbk for the 2013-2023 period. Data analysis uses descriptive analysis, classical assumption tests, regression analysis, correlation coefficients, determination coefficients and hypothesis testing. The population in this study is financial statements in the form of panels totaling 11 years. Data collection methods are observation, documentation and literature studies. The results of this study are that the Debt to asset ratio does not have a significant effect on company value with the hypothesis test obtained t count < t table or (1.164 < 2.364). Return on equity does not significantly influence firm value, with the hypothesis test showing a calculated t-value <t-table value (-1.168 <2.364). Stock price does not significantly influence firm value, with the hypothesis test showing a calculated t-value <t-table value (2.293 <2.364). Debt to asset ratio, return on equity, and stock price simultaneously significantly influence firm value, with the regression equation Y = 259 - 0.047 + 0.070 + 2.848, with a coefficient of determination of 80.0%, while the remaining 20.0% is influenced by other factors. The hypothesis test shows a calculated F-value > F-table value (9.308 > 4.35).