The Influence of Financial Ratios on Stock Returns in Household Equipment and Furniture Manufacturing Companies Listed on Indonesia Stock Exchange
Keywords:
Current Ratio, Debt to Equity Ratio, Total Asset Turnover, Gross Profit Margin, Price to Book Value, Return
Abstract
This study aims to analyse the effect of financial ratios on stock returns in manufacturing companies in the household appliances and furniture sub-sector listed on the Indonesia Stock Exchange during the research period of 2017-2024. In this study, the methods used include descriptive statistics, model selection tests, classical assumption tests, panel data regression tests, R² tests, t-tests, and F-tests, with the analysis tool being Eviews 13. The results of the study indicate that Price to Book Value (PBV) has a partial effect on stock returns, while Current Ratio (CR), Debt to Equity Ratio (DER), Total Asset Turnover (TATO), and Gross Profit Margin (GPM) do not have a partial effect on stock returns.
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References
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Arsy, A. M., Afif, M. N., & Anwar, S. (2024). The effect of current ratio, return on assets, debt to equity ratio and total asset turnover on stock returns of banking companies on the Indonesia Stock Exchange in 2018-2022.Innovative: Journal of Social Science Research, 4(5), 4039-4054.
Indonesia Stock Exchange. (2024, June 25).Press release PR No: 039/BEI.SPR/06-2024. https://www.idx.co.id/id/berita/siaran-pers/2166
Erfan, M., Indrianasari, N. T., & Wibisono, Y. (2021). The effect of financial ratios on stock returns (an empirical study of manufacturing companies on the IDX).Counting: Journal of Accounting, 3(3), 120-124.
Ersyafdi, I. R., & Aslamiyah, Z. (2023). The effect of financial ratios and company size on stock returns of the Jakarta Islamic Index 70.IQTISHODUNA, 19(2), 173-191.
Esanoveliansyah, V., & Ichwanudin, W. (2021). Analysis of the influence of financial ratios on stock returns (case study of manufacturing companies in the textile and garment sub-sector for the period 2007-2019).Journal of Financial and Accounting Research, 7(2).
Fahmi, I. (2012). Investment management: Theory and questions and answers. Jakarta: Salemba Empat.
Faizaturrahmi, F., & Handajani, L. (2024). The effect of financial ratios on stock returns in pulp and paper companies on the Indonesia Stock Exchange.Competitive Journal of Accounting and Finance, 8(2), 132-147.
Fajrah, N., Laila, W., Alfian, A., Hastarina, M., Wahyudi, B., Pratama, Y. D., ... & Zen, Z. H. (2023).Introduction to industrial engineering.
Ghozali, I., & Ratmono, D. (2017).Multivariate analysis and econometrics: Theory, concepts, and applications with Eviews 10.
Hasiara, L. O. (2015).Research-based financial management. Malang: Sole Publisher Mandiri Publishing.
Indiyani, P. S., Sunarsih, N. M., & Yuliastuti, I. A. N. (2020). Analysis of the influence of financial ratios on stock returns of manufacturing companies listed on the Indonesia Stock Exchange in 2016-2018.Journal of Economics and Tourism, 15(1).
Napitupulu, R. B., Simanjuntak, T. P., Hutabarat, L., Damanik, H., Harianja, H., Sirait, R. T. M., & Lumban Tobing, C. E. R. (2021).Business research, engineering, and analysis with SPSS-STATA-Eviews.
Putri, A. N. (2022). The effect of profitability on stock returns in the building construction sub-sector listed on the Indonesia Stock Exchange for the 2015-2020 period.Science of Management and Students Research Journal (SMS), 3(4), 187-194.
Rachelina, E., & Sha, T. L. (2020). The effect of EPS, PBV, PER, and profitability on stock returns.Journal of Accounting Paradigms, 2(3), 1138-1146.
Novensa, S. B. (2021). The effect of market ratios on stock returns in manufacturing companies in the oil and gas mining subsector listed on the Indonesia Stock Exchange (IDX) for the 2015-2019 period.Skripsi thesis, STIE Mandala.
Safitri, A., Orinaldi, M., & Kurniyati, K. (2024). The effect of financial ratios on sharia stock returns (a study of retail trade sub-sector companies on the Indonesia Stock Exchange in 2021-2022).Scientific Journal of Economics and Management, 2(2), 503-516.
Setianingsih, S., & Hamzah, Z. Z. (2020). The effect of financial ratios on stock returns in cosmetic companies in the consumer goods industry category on the Indonesia Stock Exchange in 2010-2017.JURISDICTION, 2(1), 73-84.
Sugiyono, D. (2013).Educational research methods: Quantitative, qualitative and R&D approaches.
Umam, K., & Sutanto, H. (2017).Investment management.
Ummah, D. W. (2023). The influence of gross profit margin (GPM), operating profit margin (OPM), and net profit margin on companies listed on the Indonesian Sharia Stock Index (ISSI): A study at PT. Surya Semesta Internusa Tbk for the period 2007-2021.Doctoral dissertation, UIN Sunan Gunung Djati Bandung.
Edison, S. K. (2024). Manufacturing companies listed on the IDX.sahamu.com. https://sahamu.com/sub-sektor-peralatan-rumah-tangga-di-bei-kode-jasica-55/
Edison, S. K. (2024). E211 sector stocks: Home furniture manufacturers IDX-IC.sahamu.com. https://sahamu.com/saham-sektor-e211-produsen-furnitur-rumah-idx-ic/
Published
2025-09-30
