Industri Perhotelan Dan Resort Di Indonesia: Pengaruh Kinerja Keuangan Terhadap Harga Sahamnya

Abstract

This study aims to examine the effect of financial performance on stock prices of companies in the hotel, resort, and cruise lines sub-industry listed on the Indonesia Stock Exchange (IDX) during 2019–2024. Financial performance is measured using four financial ratios, namely Debt to Equity Ratio (DER), Current Ratio (CR), Return on Assets (ROA), and Total Assets Turnover (TATO), while stock price is measured using the company’s closing stock price. This study employs a quantitative approach using secondary data obtained from companies’ annual reports and financial statements. The research sample consists of 60 observations from companies listed on the IDX during the 2019–2024 period. Data analysis was conducted using multiple linear regression with IBM SPSS 25. The results indicate that DER has a negative and significant effect on stock prices, while CR also has a negative and significant effect. Meanwhile, ROA and TATO do not have a significant effect on stock prices. These findings indicate that investors in the hotel, resort, and cruise lines sub-industry tend to consider the company’s capital structure and liquidity when making investment decisions.