PENGARUH RASIO KEUANGAN TERHADAP KINERJA KEUANGAN PADA INDUSTRI FARMASI DAN KESEHATAN YANG TERDAFTAR DI BURSA EFEK INDONESIA PERIODE 2020-2023

Abstract

Financial performance is one of the key indicators used to analyze whether a company's financial statements are in good condition and to assess and predict the company's future prospects. This study aims to determine the effect of financial ratios on financial performance in pharmaceutical and healthcare companies listed on the Indonesia Stock Exchange (IDX). This research employs a quantitative research method, with the population consisting of all pharmaceutical and healthcare companies listed on the IDX. The sampling technique used is purposive sampling with specific criteria, resulting in a sample of 8 companies. The data analysis techniques include classical assumption tests, multiple linear regression analysis, and hypothesis testing. The results of the study indicate that the current ratio (X1) and debt to assets ratio (X2) partially have a significant negative effect on return on assets (Y) in pharmaceutical and healthcare companies listed on the IDX for the 2020-2023 period. Total assets turnover (X3) has no effect on return on assets (Y) in these companies. Meanwhile, net profit margin (X4) partially has a significant positive effect on return on assets (Y). Simultaneously, current ratio, debt to assets ratio, total assets turnover, and net profit margin have a significant positive effect on return on assets (Y) in pharmaceutical and healthcare companies listed on the IDX for the 2020-2023 period.