Pengaruh Rasio Profitabilitas Terhadap Harga Saham Dengan Earning Per Share Sebagai Variabel Moderasi

(Studi kasus perusahaan LQ 45 di Bursa Efek Indonesia periode 2018-2022)

Abstract

The rapid development of the capital market has made financial information increasingly crucial in investment decision-making, especially for investors on the Indonesia Stock Exchange. One of the most attractive indices is LQ45, which includes large-cap and highly liquid companies. This study aims to examine the partial effect of Return On Assets, Return On Equity, and Net Profit Margin on stock prices, with Earnings Per Share as a moderating variable in LQ45 companies listed on the Indonesia Stock Exchange during the 2018–2022 period. This quantitative study used purposive sampling, resulting in 16 sample companies. Data were analyzed using SPSS version 25.00. The results reveal that Return On Assets, Return On Equity, and Net Profit Margin partially affect stock prices. Earnings Per Share is able to moderate the effect of Return On Assets but fails to moderate the effects of Return On Equity and Net Profit Margin on stock prices. The practical implication of this research is that investors should consider profitability ratios and Earnings Per Share (EPS) as important indicators in making investment decisions, particularly in LQ45 companies..