The Effect of Current Ratio, Debt to Equity Ratio, and Inventory Turnover on Return on Assets in Manufacturing Companies in the Miscellaneous Industry Sector Listed on the Indonesia Stock Exchange (IDX)
DOI:
https://doi.org/10.32923/rn43gk38Keywords:
Current Ratio, Debt to Equity Ratio, Inventory Turnover, Return on AssetsAbstract
This study aims to examine the effect of current ratio, debt to equity ratio, and inventory turnover on return on assets in manufacturing companies in the miscellaneous industry sector listed on the Indonesia Stock Exchange (IDX) for the period 2021-2023. The data used in this research is secondary data sourced from company financial statements and statistics. The research population consists of 63 manufacturing companies in the miscellaneous industry sector listed on the IDX during the 2021-2023 period. The sample was selected using purposive sampling based on specific criteria, resulting in 25 companies with a total of 75 annual financial reports analyzed. The data analysis techniques used in this study include descriptive statistics, classical assumption tests, multiple linear regression analysis, coefficient of determination, t-test, and F-test. The results show that, partially, the current ratio has a significant effect on return on assets with a significance value of 0.003 < 0.05, the debt to equity ratio has no significant effect on return on assets with significance value of 0.110 > 0.05, and inventory turnover has a significant effect on return on assets with a significance value of 0.040 < 0.05. Simultaneously, the current ratio, debt to equity ratio, and inventory turnover collectively have a significant effect on return on assets with a significance value of 0.001 < 0.05.
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