Pengaruh Inventory Turnover  dan Total Asset Turnover terhadap Return on Investment Perusahaan Subsektor Makanan dan Minuman  Tahun 2022–2025

Indah Sriwahyuningsih; Rosmita Rosmita

doi:10.61132/jpbi.v4i3.1559

Authors

Indah Sriwahyuningsih Universitas Bina Sarana Informatika
Rosmita Rosmita Universitas Bina Sarana Informatika

DOI:

https://doi.org/10.61132/jpbi.v4i3.1559

Keywords:

Food and Beverage Companies, Inventory Turnover, Profitability, Return on Investment, Total Asset Turnover.

Abstract

This study aims to analyze the effect of Inventory Turnover and Total Asset Turnover on Return on Investment (ROI) in food and beverage sub-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2025 period. The study is motivated by inconsistencies between theory and empirical conditions, where increases in inventory turnover and total asset turnover ratios are not always accompanied by increased corporate profitability. A quantitative approach with an associative method was employed. Secondary data in the form of annual financial reports were obtained from the IDX. A purposive sampling technique was used to select the sample, resulting in 8 companies and 32 observations. Data analysis was conducted using panel data regression with EViews 10, with the Random Effect Model (REM) selected as the best-fit model. The results indicate that Inventory Turnover does not have a significant partial effect on ROI (probability value of 0.5648 > 0.05), whereas Total Asset Turnover has a positive and significant effect on ROI (probability value of 0.0000 < 0.05). Simultaneously, both independent variables significantly affect ROI, with an F-statistic of 34.55098 and a probability of 0.000000. The coefficient of determination (R²) of 0.704389 indicates that 70.44% of the variation in ROI can be explained by these two independent variables, while the remaining 29.56% is influenced by factors outside the scope of this study. These findings suggest that the efficiency of asset utilization is a more significant determinant of profitability than inventory turnover within this industry sub-sector.

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