Pengaruh Current Ratio (CR) dan Debt to Assets Ratio (DAR) terhadap Return on Assets (ROA) pada PT Matahari Departement Store Tbk Periode 2013 -2023

Ria Rosalia Simangunsong; Vidya Amalia Rismanty; Fitriyah Fitriyah; Baliyah Munadjat

doi:10.37481/jmoi.v4i2.201

Authors

Ria Rosalia Simangunsong Universitas Pamulang
Vidya Amalia Rismanty Universitas Pamulang
Fitriyah Fitriyah Universitas Pamulang
Baliyah Munadjat Universitas Pamulang

DOI:

https://doi.org/10.37481/jmoi.v4i2.201

Keywords:

Current Ratio, Debt to Assets Ratio, Return on Assets, Financial Performance, Retail Industry

Abstract

In recent years, the retail industry in Indonesia has experienced dynamic growth, with companies striving to improve operational efficiency and profitability amidst increasingly competitive markets. PT. Matahari Department Store Tbk, as one of the leading retail companies in Indonesia, has faced fluctuations in financial performance, particularly during the 2013–2023 period. Understanding the factors that influence financial performance, such as liquidity and capital structure, is crucial for management to make informed strategic decisions. This study aims to examine the effect of Current Ratio (CR) and Debt to Assets Ratio (DAR) on Return on Assets (ROA) at PT. Matahari Department Store Tbk. This research employs a quantitative approach with an associative method. The research object is the company’s financial statements over 11 years, from 2013 to 2023. Data analysis is conducted using multiple linear regression through SPSS 26, accompanied by descriptive analysis, classical assumption tests, and hypothesis testing. The results indicate that the Current Ratio partially has a significant effect on ROA, highlighting the importance of liquidity in supporting efficient asset utilization. Meanwhile, the Debt to Assets Ratio does not show a significant partial effect, suggesting that the company’s debt structure does not directly influence profitability. Simultaneously, both variables do not have a significant effect on ROA, implying that other factors may play a more dominant role in determining financial performance. These findings emphasize the need for management to prioritize liquidity management while considering additional factors to enhance asset efficiency and overall profitability.

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