Pengaruh Net Profit Margin dan Debt to Equity Ratio Terhadap Nilai Perusahaan
-
Julia Amandatisna
*
Universitas Bina Sarana Informatika, Jakarta,
Indonesia
- Dedi Suharyadi Universitas Bina Sarana Informatika, Jakarta, Indonesia (*) Corresponding Author
Abstract
This study aims to analyze the effect of Net Profit Margin (NPM) and Debt to Equity Ratio (DER) on Firm Value proxied by Price to Book Value (PBV) in coal mining subsector companies listed on the Indonesia Stock Exchange during the 2021–2025 period. The recent decline in national coal production and export performance has created uncertainty regarding the prospects of companies in this sector, making it important to examine the financial factors that influence investor perception. This study employs a quantitative method with a causal approach and a purposive sampling technique, resulting in 75 data points from a population of 44 companies, analyzed using classical assumption tests and multiple linear regression with SPSS version 29. The novelty of this study lies in its focus on the coal mining subsector, which has been underexplored in relation to profitability and capital structure on firm value amid pressures from the global energy transition. The results show that NPM has a positive and significant effect on firm value, while DER has no significant effect. Simultaneously, NPM and DER significantly affect firm value, contributing 17.8%. These findings indicate that investors place greater emphasis on a company's profit-generating ability than its funding structure when assessing prospects in the coal mining subsector. This study contributes to corporate management and investors in understanding the relevant financial factors for investment decision-making in capital-intensive industries.
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References
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