THE The Effect Of Profitability, Leverage, And Liquidity On Company Value In The Listed Health Sector On The Indonesian Stock Exchange 2020–2024 Period

Theresia Br. Perangin-angin; Ike Rukmana Sari, S.E., M.M; Shane Anneke Pangemanan, S.E., M.Si

doi:10.63922/ijebir.v5i04.4165

Theresia Br. Perangin-angin PUI Finance, Fakultas Ekonomi Universitas Prima Indonesia,
Ike Rukmana Sari, S.E., M.M PUI Finance, Fakultas Ekonomi Universitas Prima Indonesia,
Shane Anneke Pangemanan, S.E., M.Si PUI Finance, Fakultas Ekonomi Politeknik Negeri Manado

DOI: https://doi.org/10.63922/ijebir.v5i04.4165

Keywords: Profitability, Leverage, Liquidity, Firm Value, PBV, ROA, DER, CR

Abstract

This study aims to analyze the effect of Profitability (ROA), Leverage (DER), and Liquidity (CR) on Firm Value (PBV) in healthcare sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. The research method used is a quantitative approach with multiple linear regression analysis. The research population is all healthcare sector companies listed on the IDX totaling 38 companies, while the sample was obtained through a purposive sampling technique of 13 companies with a total of 65 observations. Data sourced from the company's annual financial reports accessed through www.idx.co.id. The results of the study show that: (1) Profitability (ROA) has a positive and significant effect on Firm Value (PBV) with a coefficient of 7.6180 and sig. 0.000; (2) Leverage (DER) has a negative and significant effect on Firm Value (PBV) with a coefficient of -0.4785 and sig. 0.000; (3) Liquidity (CR) has a positive and significant effect on Firm Value (PBV) with a coefficient of 0.0960 and sig. 0.028; and (4) Profitability, Leverage, and Liquidity simultaneously have a significant effect on Firm Value with a calculated F of 28.892 and sig. 0.000. The Adjusted R Square value of 0.567 indicates that the three independent variables are able to explain 56.7% of the variation in Firm Value. This study concludes that healthcare sector companies need to optimize profitability, manage debt structures wisely, and maintain adequate liquidity levels to increase the firm's value in the eyes of investors

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