The Influence of Profitability and Capital Structure on Financial Performance at PT Ultra Jaya Milk Industry & Trading Company Tbk for the Period 2011-2025

Moza Oktabiana; Endang Puji Astutik

doi:10.63922/ijebir.v5i05.6108

Moza Oktabiana Management Study Program, Pamulang University
Endang Puji Astutik Management Study Program, Pamulang University

DOI: https://doi.org/10.63922/ijebir.v5i05.6108

Keywords: Capital Structure, Financial Performance, Profitability

Abstract

This study aims to determine the influence of Profitability (Net Profit Margin) and Capital Structure (Debt to Equity Ratio) on Financial Performance (Return on Assets) at PT Ultra Jaya Milk Industry & Trading Company Tbk for the 2011–2025 period, both partially and simultaneously. A quantitative method with a descriptive approach was employed. The study focused on PT Ultra Jaya Milk Industry & Trading Company Tbk, using financial statements specifically balance sheets and income statements from the 2011–2025 period as the sample. Data analysis techniques included classical assumption tests, hypothesis testing, multiple linear regression, and the coefficient of determination test. Partial test results (using the t-test) indicate that the Net Profit Margin (NPM) variable has a significant positive effect on Return on Assets (ROA), with a significant value of <0.001<0.05 and a t-statistic of 6.354 >2.17881; Meanwhile, the Debt to Equity Ratio (DER) variable has a significant negative effect on Return on Assets (ROA), with a significant value of 0.006<0.05 and a t-statistic of -3,293 > 2,17881. Simultaneous test results show that Net Profit Margin (NPM) and Debt to Equity Ratio (DER) significantly influence Return on Assets (ROA), with a significant value of <0.001<0.05 and an F-statistic of 25,845>3.89. The coefficient of determination test reveals a contribution of 78%, indicating that Net Profit Margin and Debt to Equity Ratio account for 78% of the variance, while the remaining 22% is influenced by variables not examined in this study.

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