THE EFFECTS OF RETURN ON ASSETS, EARNINGS PER SHARE, AND DEBT-TO-EQUITY RATIO ON  BBNI STOCK PRICE  2010–2024

Amanda Delawati; Achmad Ludvy

doi:10.56633/mbisku.v3i2.1598

Authors

Amanda Delawati Universitas Pamulang, Indonesia
Achmad Ludvy Universitas Pamulang, Indonesia

DOI:

https://doi.org/10.56633/mbisku.v3i2.1598

Keywords:

Return on Assets, Earnings per Share, Debt to Equity Ratio, Stock Price, Banking

Abstract

This study examines the effects of Return on Assets (ROA), Earnings per Share (EPS), and Debt to Equity Ratio (DER) on the stock price of PT Bank Negara Indonesia (Persero) Tbk during 2010–2024. Using a quantitative approach, this study analyzes 15 annual observations obtained from annual reports and stock market records. Multiple linear regression was performed using SPSS to examine the partial and simultaneous effects of the financial indicators. The results show that ROA has a significant negative effect on stock price (t = −3.60; p = 0.004), while EPS has a significant positive effect (t = 3.53; p = 0.005). In contrast, DER has no significant effect (t = −0.08; p = 0.935). Simultaneously, ROA, EPS, and DER significantly affect stock price (F = 7.17; p = 0.0062), with an R² of 66.16%. These findings indicate that financial indicators provide substantial information for stock valuation, although market valuation is also influenced by factors beyond the model. The study highlights the importance of sustainable earnings, earnings attributable to shareholders, prudent financial management, and broader market considerations in assessing bank stock valuation

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