PENGARUH RASIO LIKUIDITAS DAN RASIO LEVERAGE TERHADAP RASIO PROFITABILITAS PADA SUB SEKTOR INDUSTRI KIMIA DI BURSA EFEK INDONESIA TAHUN 2019-2024

Ana  Humaimah; Suryono Suryono

doi:10.53067/bmj.v3i4.121

Authors

Ana Humaimah Universitas Pamulang
Suryono Suryono Universitas Pamulang

DOI:

https://doi.org/10.53067/bmj.v3i4.121

Keywords:

Current Ratio, Debt to Equity Ratio, Return on Assets, Liquidity, Leverage, Profitability, Current Ratio, Debt to Equity Ratio, Return on Assets, Likuiditas, Leverage, Profitabilitas

Abstract

This study aims to analyze the effect of liquidity, as measured by the Current Ratio (CR), and leverage, as measured by the Debt to Equity Ratio (DER), on profitability, as measured by the Return on Assets (ROA), in chemical industry sub-sector companies listed on the Indonesia Stock Exchange during the 2019–2024 period. This research employed a quantitative approach using secondary data obtained from the companies' annual financial statements. The sampling technique used was purposive sampling, resulting in a sample of nine companies with a total of 54 observations. Data were analyzed using descriptive statistics, classical assumption tests, multiple linear regression analysis, the coefficient of determination (R²), t-test, and F-test. The results indicate that: (1) Current Ratio (CR) has a negative and significant effect on Return on Assets (ROA), with a t-value of 2.986, which is greater than the t-table value of 2.008; (2) Debt to Equity Ratio (DER) has no significant effect on Return on Assets (ROA), with a t-value of 1.772, which is lower than the t-table value of 2.008; and (3) simultaneously, Current Ratio (CR) and Debt to Equity Ratio (DER) have a significant effect on Return on Assets (ROA), with an F-value of 4.703, which is greater than the F-table value of 3.18. The coefficient of determination (R²) is 0.156, indicating that 15.6% of the variation in Return on Assets can be explained by Current Ratio and Debt to Equity Ratio, while the remaining 84.4% is influenced by other factors outside the research model.

References

Aida, A., Hermina, D., & Norlaila, N. (2025). Jenis Data Penelitian Kuantitatif (Korelasional, Komparatif, Dan Eksperimen). Al-Manba Jurnal Ilmiah Keislaman dan Kemasyarakatan, 10(1), 31–40. https://doi.org/10.69782/almanba.v10i1.48

Astuti, Sembiring, L. D., Supitriyani, Azwar, K., & Susanti, E. (2021). ANALISIS LAPORAN KEUANGAN.

Atul, U. N., Sari, Y. N. I., & Lestari, Y. J. (2022). Analisis Rasio Keuangan Untuk Mengukur Kinerja Keuangan Perusahaan. E-Jurnal Akuntansi TSM, 2(3), 89–96. https://doi.org/10.34208/ejatsm.v2i3.1396

Bella Nutia Febriana, & Dwi Wahyuningsih. (2024). Pengaruh Likuiditas, Leverage, dan Ukuran Perusahaan Terhadap Profitabilitas pada Perusahaan Tekstil dan Garmen yang Terdaftar di BEI Periode 2019-2022. MES Management Journal, 3(3). https://doi.org/10.56709/mesman.v3i3.339

I Nyoman Bontot, Martino Wibowo, & Sippavitch Wongsuwatt. (2024). The Role Of Company Financial Statement Disclosure To Anticipate Bankruptcy And Its Impact. Samā Jiva Jnānam (International Journal of Social Studies), 2(1), 29–34. https://doi.org/10.25078/ijoss.v2i1.3917

Kamilah, N., Kusumawardhani, R., & Maulida, A. (2024). Analysis of The Effect of Liquidity, Leverage, and Size on Roa (Case Study of Telecommunication Companies Listed on The IDX for The 2017-2021 Period). Indonesian Journal of Economics, Business, Accounting, and Management (IJEBAM), 3(1), 22–36. https://doi.org/10.63901/ijebam.v3i1.81

Kasmiati et al. (2021). No Title 済無 No Title No Title No Title (Vol. 32, Nomor 3).

Khoza, F. (2025). The Impact of Liquidity and Leverage on the Financial Performance of the Johannesburg Stock Exchange-Listed Consumer Goods Firms. Journal of Risk and Financial Management, 18(9), 510. https://doi.org/10.3390/jrfm18090510

Kristanto, A. K., & Yanto, H. (2022). Analisis Kinerja Keuangan Perusahaan Sektor Consumer Cyclicals Sebelum dan Selama Pandemi Covid-19. Nominal Barometer Riset Akuntansi dan Manajemen, 11(2), 286–296. https://doi.org/10.21831/nominal.v11i2.51928

Miranda, A., Septika, E. N., Parsi, C. A., & Panggabean, F. Y. (2025). Literatur Review: Laporan Keuangan sebagai Instrumen Deteksi Dini atas Kebangkrutan Perusahaan. Jurnal Ekonomi dan Bisnis Digital, 2(4), 2551–2556. https://doi.org/10.62379/jebd.v2i4.2793

Nuraini, F. D., & Suwaidi, R. A. (2022). Pengaruh Leverage, Likuiditas, dan Ukuran Perusahaan Terhadap Profitabilitas Pada Perusahaan Textile dan Garment Yang Go Public Di Bursa Efek Indonesia. Jurnal Ilmu Manajemen, 11(2), 157. https://doi.org/10.32502/jimn.v11i2.3523

Papilo, P., Marimin, M., Hambali, E., Machfud, M., Yani, M., Asrol, M., Evanila, E., Prasetya, H., & Mahmud, J. (2022). Palm oil-based bioenergy sustainability and policy in Indonesia and Malaysia: A systematic review and future agendas. Heliyon, 8(10). https://doi.org/10.1016/j.heliyon.2022.e10919

Putri Latifatul Azizah, Edi Murdianto, & Agung Pambudi Mahaputra. (2025). Pengaruh Rasio Likuiditas, Solvabilitas, dan Aktivitas Terhadap Profitabilitas Pada Perusahaan Sub Sektor Otomotif Yang Terdaftar Di BEI Tahun 2020-2023. Jurnal Manajemen Bisnis Era Digital, 2(3), 121–136. https://doi.org/10.61132/jumabedi.v2i3.697

Putu Ari Aryawati, N., Tuti Khairani Harahap, Ms., Ni Nyoman Suli Asmara Yanti, Ms., Made Ngurah Oka Mahardika, M. I., Dewi Mariam Widiniarsih, M. S., Muh Ihsan Said Ahmad, M., Andi Aris Mattunruang, Ms., & Lanto Miriatin Amali, Ms. (2022). MANAJEMEN KEUANGAN.

Sirbu, M., & Chirilov, N. (2025). Practical aspects of asset profitability analysis in decisionmaking. Challenges of accounting for young researchers, 101–104. https://doi.org/10.53486/issc2025.26

Suripto, S., & Sodikin, A. (2020). Determinan Pendapatan Pedagang Kaki Lima (Pkl) Kuliner Malam Di Kecamatan Umbulharjo. Jurnal Manajemen STIE Muhammadiyah Palopo, 6(1). https://doi.org/10.35906/jm001.v6i1.418

Tripathi, V. (2023). International Journal Of Economics Finance & Management Science The Role Of Financial Management In Maximizing Shareholder Value. https://scientiamreearch.org

Yulianti, M. L. (2025). 617857-buku-ajar-analisis-laporan-keuangan-6b4930a1.

Zulkifli, & Febriyantoro, M. T. (2025). Current Ratio and Debt to Equity Ratio as Determinants of Return on Equity in Food and Beverage Companies. International Journal of Business, Law, and Education, 6(2), 1070–1081. https://doi.org/10.56442/ijble.v6i2.1136