Pengaruh EVA, MVA, dan FCF terhadap Return on Assets (ROA) pada Perusahaan Industri Barang Konsumsi yang Terdaftar di BEI Periode 2020–2024

M. Paisal

doi:10.30640/ekonomika45.v13i1.5553

Authors

M. Paisal Universitas Muhammadiyah Sukabumi

DOI:

https://doi.org/10.30640/ekonomika45.v13i1.5553

Keywords:

Consumer Goods Industry, Economic Value Added, Free Cash Flow, Market Value Added, Return on Assets

Abstract

This study aims to analyze the influence of Economic Value Added (EVA), Market Value Added (MVA), and Free Cash Flow (FCF) on Return on Assets (ROA) partially or simultaneously in companies in the consumer goods industry sector listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. This study uses a quantitative approach with multiple linear regression analysis techniques. Data was obtained from the company's annual financial statements which were selected through the purposive sampling method based on certain criteria. The results showed that EVA, MVA, and FCF had no significant effect on ROA. Simultaneously, the three variables also showed no significant influence with a significance level of 0.480. The value of the determination coefficient of 3.5% indicates that EVA, MVA, and FCF are only able to explain a small part of the variation in ROA. These findings indicate that the profitability of consumer goods industry companies is more influenced by operational factors, cost structure, asset management efficiency, and macroeconomic conditions. Therefore, the use of value-based indicators needs to be combined with other measures of financial performance to produce a more comprehensive evaluation.

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