PENGARUH PERPUTARAN PERSEDIAAN DAN PERPUTARAN MODAL KERJA TERHADAP RETURN ON ASSET PADA PT INDUSTRI JAMU DAN FARMASI SIDO MUNCUL Tbk PERIODE 2014-2023

Abstract

This study aims to determine the effect of inventory turnover and working capital turnover on Return On Assets (ROA) at PT Industri Jamu dan Farmasi Sido Muncul Tbk during the 2014–2023 period, both partially and simultaneously. The method used is descriptive with a quantitative approach, based on data from the statement of financial position, income statement, and notes to the financial statements over a ten-year period. Data analysis was carried out using SPSS version 27 through classical assumption tests, multiple regression analysis, correlation and determination coefficients, as well as t-test and F-test. The results of the t-test show that inventory turnover has a negative and insignificant effect on Return On Assets (significance 0.782 > 0.05 and -0.288 t-count < t-table -2.365), while working capital turnover has a significant effect on Return On Assets (significance 0.025 < 0.05 and t-count 2.831 > t-table 2.365). Simultaneously, both variables have a significant effect on Return On Assets (F-count 5.883 > F-table 4.737 and significance 0.032 < 0.05), with a determination coefficient of 52%, indicating that inventory turnover and working capital turnover together influence Return On Assets by 52%. Therefore, it can be concluded that both variables simultaneously have a significant effect on the company's financial performance.