PENGARUH RETURN ON ASSETS (ROA), RETURN ON EQUITY (ROE), NET PROFIT MARGIN (NPM), GROSS PROFIT MARGIN (GPM) TERHADAP HARGA SAHAM PERBANKAN SYARIAH YANG TERDAFTAR DI BEI PERIODE 2021-2024

Authors

  • Halimatul Sayyidah Universitas Cipasung Tasikmalaya
  • Heidi Siddiqa Universitas Cipasung Tasikmalaya
  • Dheri Febiyani Lestari Universitas Cipasung Tasikmalaya

DOI:

https://doi.org/10.36423/jumper.v7i2.2436

Keywords:

ROA, ROE, NPM, GPM, HARGA SAHAM, PERBANKAN SYARIAH

Abstract

This study aims to analyze the effect of Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM), and Gross Profit Margin (GPM) on stock prices of Islamic commercial banks listed on the Indonesia Stock Exchange. This research employs a quantitative method with an associative approach. The data used are secondary data obtained from annual financial statements and stock prices for the research period. Data analysis was conducted using multiple linear regression, including classical assumption tests, coefficient of determination, F-test, and t-test. The results show that partially, ROA and ROE have no significant effect on stock prices. NPM has a significant negative effect, while GPM (after transformation) has a significant positive effect on stock prices. Simultaneously, these four independent variables significantly influence stock prices. The coefficient of determination indicates that part of the variation in stock prices can be explained by these profitability variables, while the remaining variation is influenced by other factors outside the research model. These findings suggest that investors pay more attention to operational efficiency indicators (GPM) than to ROA or ROE when making investment decisions in Islamic bank stocks. This study is expected to serve as a reference for companies to improve financial performance and for investors as a consideration in making investment decisions.

References

Brigham, E. F., & Houston, J. F. (2014). Fundamentals of Financial Management (14th ed.). South-Western Cengage Learning.

Fahmi, I. (2013). Analisis Laporan Keuangan. Bandung: Alfabeta.

Jogiyanto, H. (2017). Teori Portofolio dan Analisis Investasi (Edisi 11). Yogyakarta: BPFE-Yogyakarta.

Wardiyah, M. L. (2017). Analisis Laporan Keuangan (1st ed.). CV Pustaka Setia

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Published

2025-12-24

Issue

Vol. 7 No. 2 (2025): Jurnal Ekonomi Perjuangan (JUMPER)

Section

Articles

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Copyright (c) 2025 Halimatul Sayyidah, Heidi Siddiqa, Dheri Febiyani Lestari

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