Analysis of ROE, NPM, DER, and EPS Influence on Stock Prices of Cement Subsector Companies on IDX

Raisya Amalia; Aris Munandar; Hanifah Muthiah

doi:10.63922/ijebir.v5i03.3316

Raisya Amalia Study Program of Management, Sekolah Tinggi Ilmu Ekonomi (STIE) Bima
Aris Munandar Study Program of Management, Sekolah Tinggi Ilmu Ekonomi (STIE) Bima
Hanifah Muthiah Study Program of Management, Sekolah Tinggi Ilmu Ekonomi (STIE) Bima

DOI: https://doi.org/10.63922/ijebir.v5i03.3316

Keywords: ROE, NPM, DER, EPS, Stock Prices.

Abstract

This study aims to analyze the effect of Return on Equity (ROE), Net Profit Margin (NPM), Debt to Equity Ratio (DER), and Earnings Per Share (EPS) on stock prices in cement subsector companies listed on the Indonesia Stock Exchange. Previous studies have shown inconsistent results regarding the effect of financial ratios on stock prices, indicating the need for further research. This study uses a quantitative associative approach using secondary data obtained from the financial statements of six companies for the period 2020–2024. The sampling technique used was purposive sampling, resulting in 30 observations. Data analysis was performed using multiple linear regression with SPSS version 22. The results show that partially ROE and DER have a significant negative effect on stock prices, EPS has a significant positive effect, while NPM has no significant effect. Simultaneously, all variables significantly affect stock prices. This study contributes the latest empirical evidence regarding the role of financial performance in influencing stock prices in the cement subsector.

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