The Effect of ROA and ROE on Stock Prices During the Pandemic
Keywords:
Stock Price, ROA, ROEAbstract
The Consumer Cyclicals sector is the sector with the highest number of companies listed in the Indonesian Islamic Stock Index (ISSI) from January 2020 to September 2022. This sector is highly influenced by economic dynamics, with its stock prices fluctuating in line with economic developments. Company financial performance, especially profitability ratios, is one of the key factors affecting stock prices. Profitability ratios provide an indication of how well a company can generate profits. This research is a quantitative study. The study population consists of 58 companies in the Consumer Cyclicals sector listed in ISSI. After the purposive sampling process, 52 companies were included in this research. Secondary data consisting of 572 data points from quarterly reports from 2020 to September 2022 were used for the analysis. Statistical analysis was performed using SPSS 17.0. The research results indicate a significant influence of return on assets (ROA) and return on equity (ROE) on stock prices. ROA has a significant negative impact, while ROE has a significant positive impact on stock prices. Both of these ratios together explain approximately 48.3% of the variation in stock prices.
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