Pengaruh DER dan NPM terhadap ROA pada Perusahaan Subsektor Transportasi yang terdaftar di Bursa Efek Indonesia Periode 2021-2025
DOI:
https://doi.org/10.55606/jumbiku.v6i2.7597Keywords:
Debt to Equity Ratio (DER), Indonesia Stock Exchange, Net Profit Margin (NPM), Return on Assets (ROA), Transportation SubsectorAbstract
This study aims to examine how the Debt-to-Equity Ratio (DER) and Net Profit Margin (NPM) impact Return on Assets (ROA) of transportation subsector companies listed on the Indonesia Stock Exchange from 2021 to 2025. The study employed a causal associative method with a quantitative approach and panel data regression analysis. The research sample was determined using a purposive sampling technique, resulting in 10 companies with 50 observations. The regression model selection was carried out using the Chow test, the Hausman test, and the Lagrange Multiplier test, accompanied by descriptive statistical analysis and classical assumption testing. The study results show that Net Profit Margin (NPM) has a positive and significant effect on Return on Assets (ROA), while the Debt-to-Equity Ratio (DER) does not significantly affect ROA. However, DER and NPM simultaneously have a significant effect on ROA. These findings indicate that a company's ability to generate net income is a key factor influencing increased profitability, while capital structure management needs to be optimized to support improved financial performance.
Downloads
References
Amaliatul Khasanah, & Prajawati, M. I. (2025). Pengaruh CR dan NPM terhadap ROA dengan DER sebagai moderasi pada perusahaan makanan BEI 2020–2024. Jurnal Ilmiah Ekonomi dan Manajemen, 3(10), 209–217. https://doi.org/10.61722/jiem.v3i10.6757
Ardhefani, H., Pakpahan, R., & Djuwarsa, T. (2021). Pengaruh CR dan DER terhadap ROA pada perusahaan kosmetik dan barang keperluan rumah tangga. Indonesian Journal of Economics and Management, 1(2), 341–351. https://doi.org/10.35313/ijem.v1i2.2502
Ariyani, S., Annisaa, D. D., & Salsabilla, N. (2025). Pengaruh debt to equity ratio dan current ratio terhadap return on assets pada perusahaan yang terdaftar di Bursa Efek Indonesia periode 2020–2024. Simak, 3(1), 32–41. https://doi.org/10.35129/simak.v17i01.67
Cahyani, R., & Noryani. (2024). Pengaruh total asset turnover (TATO) dan net profit margin (NPM) terhadap return on assets (ROA) pada PT Kimia Farma Tbk periode 2013–2022. Cakrawala: Jurnal Ekonomi, Manajemen dan Bisnis, 1(2), 99–108. https://doi.org/10.32493/aktivitas.v2i1.38220
Damayanti, D., Aryasa, H. M., & Linanda, P. (2023). DiniDamayanti (1). 1(1), 1–10.
Hasmirati, H., & Akuba, A. (2019). Pengaruh current ratio dan debt to equity ratio terhadap return on assets pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia. Simak, 17(1), 32–41. https://doi.org/10.35129/simak.v17i01.67
Hosea, R., Wijaya, J. V., Purba, D. P., & Evadine, R. (2025). Influence of NPM, BOPO, and CAR on ROA in banking companies. 8, 616–623.
Kasmir. (2016). Analisis laporan keuangan. Rajawali Pers.
Nurkasmadani, N., Zakariah, A., & Novita, N. (2024). Menelisik profitabilitas Bank Syariah Indonesia (BSI) melalui rasio return on assets (ROA), return on equity (ROE), dan net profit margin (NPM): Studi kasus tahun 2022–2023. Jurnal Ekonomi Manajemen dan Bisnis, 2(1), 435–443. https://doi.org/10.62017/jemb
Padil, D., & N. (2025). Pengaruh net profit margin (NPM) dan total asset turnover (TATO) terhadap return on assets (ROA) pada perusahaan subsektor farmasi yang terdaftar di Bursa Efek Indonesia periode 2020–2024. Indonesia Economic Journal, 1(2), 635–664.
Ruki Ambar Arum, Yuyun Wahyuni, Rida Ristiyana, Umi Nadhiroh, Iwan Wisandani, Diana Widhi Rachmawati, Hilda, Retno Ika Sundari, Sufyati H. S., Hartatik, Agung Anggoro Seto, & Bakri. (2022). Analisis laporan keuangan: Penilaian kinerja perusahaan dengan pendekatan rasio keuangan. Media Sains Indonesia.
Sari, D. I. (2022). Pengaruh DER, ROA, dan NPM terhadap return saham perusahaan properti terdaftar di BEI periode 2017–2020. Tirtayasa Ekonomika, 17(2), 261–274. https://doi.org/10.35448/jte.v17i2.15795
Sudarmanto, E., Saraswa, A. M., Suryaningsih, M., Yaumi, S., Junaidi, A., Sugihyanto, T., Nuha, S. U., & Esha, D. (n.d.). Analisis laporan keuangan. (Ed. T. Z. Aulia & I. P. Dewi).
Sugiyono. (2019). Metode penelitian kuantitatif, kualitatif, dan R&D. Alfabeta.
Zildanis, Z., Nurhadi, & Hadi, S. S. (2025). Analisis pengaruh current ratio dan debt to equity ratio terhadap return on assets pada perusahaan transportasi dan logistik yang terdaftar di BEI periode 2020–2024. Jurnal Manajemen Ekonomi dan Akuntansi, 2(2), 479–483. https://doi.org/10.63921/jmaeka.v2i2.174
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Jurnal Manajemen, Bisnis dan Kewirausahaan
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
_001.jpg)
