PENGARUH CURRENT RATIO DAN DEBT TO EQUITY RATIO TERHADAP RETURN ON ASSETS PADA PT ADHI KARYA Tbk PERIODE 2015-2024

Abstract

This study aims to analyze the effect of the Current Ratio (CR) and Debt to Equity Ratio (DER) on Return on Assets (ROA) at PT Adhi Karya Tbk during the 2015–2024 period. The method used is a quantitative approach with classical assumption tests, including the normality test, multicollinearity test, heteroskedasticity test, autocorrelation test, F-test, and t-test. The data were obtained from the company’s annual financial statements and processed using SPSS software. The results show that the Current Ratio has a positive and significant effect on Return on Assets, with a significance value of 0.003 < 0.05 and a t-statistic value of 4.513 > t-table value of 2.365. This indicates that the higher the company’s liquidity ability, the greater its profitability potential. Conversely, the Debt to Equity Ratio does not have a significant effect on Return on Assets, with a significance value of 0.800 > 0.05 and a t-statistic value of -0.263 < t-table value of 2.365. Simultaneously, the Current Ratio and Debt to Equity Ratio have a significant effect on Return on Assets, as indicated by the F-statistic value of 17.383 > F-table value of 4.737 and a significance value of 0.002. The coefficient of determination (R²) value of 0.832 or 83.2% shows that the Current Ratio and Debt to Equity Ratio can explain Return on Assets, while the remaining 16.8% is influenced by other variables not examined in this study.