PENERAPAN DU PONT SYSTEM DENGAN DATA PANEL (Studi Kasus Perusahaan Sub Sektor Pertambangan yang terdaftar di Bursa Efek Indonesia Tahun 2018-2023)

Abstract

The development of Indonesia’s capital market plays an essential role as an investment vehicle and a source of funding for companies. In the ever-changing economic dynamics, stock prices serve as a key indicator for assessing a company’s performance and future prospects. Therefore, analyzing the financial factors that influence stock prices is crucial, particularly in the mining sector, which contributes significantly to the national economy.

Based on this context, this study aims to examine the relationship between financial ratios reflected in the Du Pont System analysis and the stock prices of mining companies. The main focus of this research is to investigate the effects of Net Profit Margin (NPM), Total Asset Turnover (TATO), and Equity Multiplier (EM) on the stock prices of mining sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2018–2023 period.

This study aims to analyze the effect of Net Profit Margin (NPM), Total Asset Turnover (TATO), and Equity Multiplier (EM) on stock prices in mining sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 20182023 period. This study uses a quantitative approach with library research and secondary data obtained from company financial reports accessed through the official IDX website. The research sample consisted of 12 companies selected based on specific criteria. Data analysis was conducted using panel data to determine the partial and simultaneous effects of each variable on stock prices.

The results show that the three independent variablesNPM, TATO, and EMsignificantly influence the stock prices of mining companies. This finding underscores the importance of Du Pont System analysis as a tool for evaluating company financial performance in predicting stock prices and providing strategic information for investors and company management.