ANALISIS PENGARUH CURRENT RATIO, EARNING PER SHARE DAN RETURN ON EQUITY TERHADAP HARGA SAHAM (Perusahaan JII yang terdaftar di Bursa Efek Indonesia (BEI) Tahun 2019-2023)

Abstract

This study endeavors to scrutinize the extent to which financial ratios exert

influence on stock prices within companies encompassed by the Jakarta Islamic

Index on the Indonesia Stock Exchange. The investigation concentrates on three

principal ratios: the company's aptitude to satisfy short-term obligations, earnings

per share, and the return on equity held by shareholders. This inquiry is motivated

by the vicissitudes of the stock market, which frequently manifest price

fluctuations, underscoring the criticality of fundamental information in investment

decision-making, particularly within the realm of Sharia-compliant equities.

Employing a quantitative methodology, the research harnesses secondary data

sourced from financial statements and stock price movements of select

corporations. Data analysis is conducted through statistical techniques to elucidate

the relationship between financial ratios and stock valuations. The findings reveal

that liquidity ratios wield no significant impact on stock prices, whereas earnings

per share and return on equity demonstrate a substantive effect. Collectively,

these three ratios, when examined conjointly, are affirmed to influence stock price

variations. This outcome reinforces the perspective that investors predominantly

prioritize profitability metrics over mere liquidity stability in evaluating corporate

performance. Consequently, companies are encouraged to enhance profit

efficiency and capital utilization. For investors, this research provides a referential

framework to appraise stock prospects grounded in the fundamental strengths of

enterprises, especially within the Sharia stock market milieu.