The effect of return on asset and net profit margin on stock price
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Abstract
The purpose of this study is to determine the effect of return on asset (ROA) and net profit margin (NPM) on stock prices (SRs). Case study at PT. Hanjaya Mandala Sampoerna (HMSP), which is listed on the Indonesia Stock Exchange (IDX). Research design with a quantitative approach. The collection technique is documentation with the source of research data being secondary data with a ratio data scale. The unit of analysis is the company's financial statements, the purposive sampling approach was chosen in the sample withdrawal for 32 quarters, namely during eight periods of financial statement data from 2016-2023. The data analysis method was used with classical assumption test, correlation test, calculation and analysis of the determination coefficient model, and multiple linear regression model test, as well as hypothesis test by applying t-test and F-test, using the SPSS v.26 program. The results show that ROA and NPM have a very strong correlation simultaneously with the SRs, the correlation of the three has a positive direction. However, there is a moderate correlation between ROA with SRs, and shows a very weak correlation between NPM with SRs, the relationship is almost opposite and does not show a linear relationship. ROA has no effect on the SRs. NPM has no effect on SRs. Interestingly, ROA and NPM simultaneously have a positive and significant effect on SRs. ROA and NPM can simultaneously explain the variance of SRs, with its very strong predictive ability.
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