PENGARUH PROFITABILITAS DAN LIKUIDITAS TERHADAP HARGA SAHAM SYARIAH (STUDI PADA PT UNILEVER INDONESIA TBK) PERIODE 2015-2024

Abstract

This study aims to analyze the effect of profitability and liquidity on the Islamic stock price of PT Unilever Indonesia Tbk during the period 2015–2024. Profitability is proxied by Return on Assets (ROA), while liquidity is proxied by Current Ratio (CR). This research employs a quantitative approach with an associative research method. The data used are secondary data obtained from the annual financial statements of PT Unilever Indonesia Tbk and stock price data collected from the Indonesia Stock Exchange. Data were analyzed using multiple linear regression with the assistance of SPSS software. The results indicate that profitability, as measured by Return on Assets (ROA), has a positive and significant effect on the Islamic stock price of PT Unilever Indonesia Tbk. Meanwhile, liquidity, as measured by Current Ratio (CR), does not have a significant effect on the Islamic stock price. Simultaneously, profitability and liquidity have a significant effect on Islamic stock prices, with a coefficient of determination of 42.3%, indicating that stock price variations can be explained by these two variables, while the remaining proportion is influenced by other factors outside the research model. These findings suggest that investors tend to place greater emphasis on a company's ability to generate profits rather than its ability to meet short-term obligations when making investment decisions in Islamic stocks.