Pengaruh Profitabilitas, Leverage, dan Ukuran Perusahaan terhadap Nilai Perusahaan pada Perusahaan Manufaktur Sub Sektor Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia Periode 2022–2024

Dhelia Anggita Prameswari; Alya Putri Andini; Murtanto Murtanto

doi:10.30640/jmcbus.v4i3.6965

Authors

Dhelia Anggita Prameswari Universitas Trisakti
Alya Putri Andini Universitas Trisakti
Murtanto Murtanto Universitas Trisakti

DOI:

https://doi.org/10.30640/jmcbus.v4i3.6965

Keywords:

Firm Size, Firm Value, Food And Beverage, Leverage, Profitability

Abstract

The main focus of this study is to identify how profitability, leverage, and firm size impact firm value among food and beverage manufacturing companies listed on the Indonesia Stock Exchange from 2022 to 2024. This study adopts a quantitative approach and utilizes secondary data from annual financial reports available on the Indonesia Stock Exchange's official website. Sampling was conducted using a purposive sampling method, resulting in 23 companies and a total of 69 observations over a three-year period. Data analysis was performed using panel data regression with a Random Effects Model (REM) using Eviews 9 software, selected based on the results of the Chow and Hausman tests. This study provides an empirical contribution by focusing on post-pandemic conditions and the food and beverage subsector, which has received relatively little attention in recent research. The research findings show that profitability and leverage have a positive and significant effect on firm value, while firm size has a negative and significant impact on firm value. The adjusted R-squared value of 12.22% indicates that this model explains 12.22% of the variation in firm value, with the remainder influenced by factors outside the model.

References

Alifian, D., & Susilo, D. E. (2024). Pengaruh profitabilitas, likuiditas, ukuran perusahaan dan struktur modal terhadap nilai perusahaan. Owner: Riset & Jurnal Akuntansi, 8(1), 46–55. https://doi.org/10.33395/owner.v8i1.1914

Anisa, N., Hermuningsih, S., & Maulida, A. (2022). Pengaruh ukuran perusahaan, leverage, kebijakan dividen dan profitabilitas terhadap nilai perusahaan: Studi pada perusahaan manufaktur sektor food and beverages. Reslaj: Religion Education Social Laa Roiba Journal, 4(2), 321–335. https://doi.org/10.47476/reslaj.v4i2.707

Anwar, & Nursan, M. (2025). Buku ajar analisis regresi data panel dengan aplikasi Eviews.

Badan Pusat Statistik. (2024, November 5). Ekonomi Indonesia triwulan III-2024 tumbuh 4,95 persen (y-on-y). https://www.bps.go.id/id/pressrelease/2024/11/05/2382/ekonomi-indonesia-triwulan-iii-2024-tumbuh-4-95-persen-y-on-y.html

Bursa Efek Indonesia. (2024). Data laporan keuangan tahunan perusahaan tercatat. https://www.idx.co.id

Fajriah, A. L., Idris, A., & Nadhiroh, U. (2022). Pengaruh pertumbuhan penjualan, pertumbuhan perusahaan, dan ukuran perusahaan terhadap nilai perusahaan. Jurnal Ilmiah Manajemen dan Bisnis, 7(1), 1–12. https://doi.org/10.38043/jimb.v7i1.3501

Hidayat, I., & Khotimah, K. (2022). Pengaruh profitabilitas dan ukuran perusahaan terhadap nilai perusahaan sub sektor kimia yang terdaftar di Bursa Efek periode 2018–2020. Jurnal Ilmiah Akuntansi Kesatuan, 10(1), 1–8. https://doi.org/10.37641/jiakes.v10i1.1175

Hidayat, I., & Wati, D. S. (2022). The influence of profitability, company size and leverage on company value. EAJ (Economic and Accounting Journal, 5(1), 60–71. https://doi.org/10.32493/eaj.v5i1.y2022.p60-71

Indonesia.go.id. (2024). Pendorong utama pertumbuhan ekonomi yang stabil. https://indonesia.go.id/kategori/editorial/8770/pendorong-utama-pertumbuhan-ekonomi-yang-stabil?lang=1

Isniawati, A. (2026). Nilai perusahaan dalam perspektif teori sinyal dan trade-off: Peran ukuran perusahaan, leverage, dan profitabilitas. Journal of Economic and Business, 3(1), 83–96.

Putri, A. M. A., & Pohan, H. T. (2023). Pengaruh profitabilitas, leverage, dan ukuran perusahaan terhadap manajemen laba dengan komite audit sebagai variabel moderasi. Jurnal Ekonomi Trisakti, 3(1), 1229–1238. https://doi.org/10.25105/jet.v3i1.16050

Rezeki, E. S., Santoso, S. E. B., Wahyuni, S., & Dirgantari, N. (2023). Effect of capital structure, company size, profitability, and company growth on company value. Asian Journal of Applied Business and Management (AJABM), 2(3), 419–438. https://doi.org/10.55927/ajabm.v2i3.5837

Susanti, T., Yantiana, N., & Espa, V. (2025). Analisis pengaruh profitabilitas, leverage, pertumbuhan aset dan pertumbuhan penjualan terhadap nilai perusahaan dengan ukuran perusahaan sebagai variabel moderasi. Journal of Innovation in Management, Accounting and Business, 4(1), 86–96. https://doi.org/10.56916/jimab.v4i1.1169

Susesti, D. A., & Wahyuningtyas, E. T. (2022). Pengaruh profitabilitas, leverage, dan ukuran perusahaan terhadap nilai perusahaan (studi empiris pada perusahaan LQ45 pada Bursa Efek Indonesia periode 2018–2020). Accounting and Management Journal, 6(1), 36–49. https://doi.org/10.33086/amj.v6i1.2821

Syahputri, I. K., & Yanti, H. B. (2022). Pengaruh strategi diversifikasi perusahaan, financial distress dan nilai perusahaan terhadap kinerja laporan keuangan pada perusahaan manufaktur sektor industri aneka yang terdaftar di Bursa Efek Indonesia. Jurnal Ekonomi Trisakti, 2(2), 1595–1604. https://doi.org/10.25105/jet.v2i2.14942

Wahyuningrum, A. D., & Sunarto, S. (2023). Pengaruh likuiditas, profitabilitas, leverage dan ukuran perusahaan terhadap nilai perusahaan. Jurnal Riset Akuntansi Politala, 6(1), 122–136. https://doi.org/10.34128/jra.v6i1.179