Pengaruh Pertumbuhan Penjualan, Profitabilitas, dan Solvabilitas terhadap Nilai Perusahaan pada Perusahaan Subsektor Chemicals yang Terdaftar di Bursa Efek Indonesia Periode 2021-2024

Abstract

The company's value is an important indicator in assessing the market's perception of the company's performance, prospects, and sustainability. In the chemicals subsector, market valuation is not only influenced by the growth of business activities but also by the company's ability to generate profits and manage its funding structure. This study analyses the influence of sales growth, profitability, and solvency on the company's value in chemicals subsector companies listed on the Indonesia Stock Exchange from 2021 to 2024. The company's value is proxied by the Price to Book Value (PBV), sales growth is measured using Sales Growth (SG), profitability is measured using Return on Equity (ROE), and solvency is measured using the Debt to Equity Ratio (DER). This research employs a quantitative approach with secondary data obtained from annual financial reports and market data of the companies. The sample was determined through purposive sampling, resulting in 10 companies with a total of 40 observations. The analysis technique used is multiple linear regression with a pooled data approach, accompanied by classical assumption tests, partial tests, simultaneous tests, and the coefficient of determination. The results show that sales growth has no significant effect on the company's value, whereas profitability and solvency have a significant positive effect. Simultaneously, sales growth, profitability, and solvency significantly influence the company's value. The Adjusted R Square value of 0.293 indicates that the model can explain 29.3% of the variation in the company's value, while the remaining is influenced by other factors outside the scope of this study.