Pengaruh Current Ratio dan Gross Profit Margin terhadap Return on Assets pada Perusahaan Sub Sektor Farmasi di BEI Periode 2020-2024

Siti Imas Khoeriah; Rosmita Rosmita

doi:10.61132/jumbidter.v3i3.1538

Authors

Siti Imas Khoeriah Universitas Bina Sarana Informatika
Rosmita Rosmita Universitas Bina Sarana Informatika

DOI:

https://doi.org/10.61132/jumbidter.v3i3.1538

Keywords:

BEI, Current Ratio, Gross Profit Margin, Pharmaceutical Sub-Sector, Return on Assets

Abstract

The pharmaceutical sub-sector plays a strategic role in Indonesia's healthcare system and national economy, yet the profitability of pharmaceutical companies listed on the BEI has fluctuated during 2020–2024, largely due to the impact of the COVID-19 pandemic. This study aims to examine the partial and simultaneous effects of Current Ratio and Gross Profit Margin on Return on Assets in pharmaceutical sub-sector companies listed on the BEI during the 2020-2024 period. A quantitative associative-causal approach was employed, using secondary data from audited annual financial reports. Purposive sampling yielded six companies that met the research criteria, producing 30 observations, which were analyzed using multiple linear regression with IBM SPSS Statistics 25. The results show that Current Ratio has a positive and significant partial effect on Return on Assets, while Gross Profit Margin has a positive but insignificant partial effect. Simultaneously, both variables significantly affect Return on Assets, with an R Square of 42.9%. These findings suggest that maintaining an optimal level of liquidity is more influential in supporting asset profitability than gross margin alone, providing implications for pharmaceutical companies to strengthen current asset management while continuing to monitor production cost efficiency.

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