THE INFLUENCE OF CURRENT RATIO, DEBT-TO-EQUITY RATIO AND TOTAL ASSET TURNOVER ON RETURN ON EQUITY RATIO IN TECHNOLOGY SECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (2020–2025 PERIOD)
Keywords:
Current Ratio (CR), Debt to Equity Ratio (DER),, Total Asset Turnover (TATO), Return on Equity Ratio (ROE)Abstract
This study aims to determine the effect of Current Ratio (CR), Debt to Equity Ratio (DER), and Total Asset Turnover (TATO) on Return on Equity (ROE) in technology sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2025 period. The research approach used in this study is quantitative research. The population consisted of technology sector companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2025 period, with a total population of 47 companies and a sample of 8 companies. The data analysis techniques used were multiple linear regression analysis, classical assumption tests, hypothesis testing, and coefficient of determination analysis with the assistance of SPSS version 26.0. The normality test results showed a significance value of 0.079 > 0.05, indicating that the research data were normally distributed. The partial analysis results showed that Current Ratio (CR) had a positive and significant effect on Return on Equity (ROE), Debt to Equity Ratio (DER) had no significant effect on Return on Equity (ROE), while Total Asset Turnover (TATO) had a negative and significant effect on Return on Equity (ROE). The simultaneous analysis results showed that Current Ratio (CR), Debt to Equity Ratio (DER), and Total Asset Turnover (TATO) had a significant effect on Return on Equity (ROE).
References
Annazmi Nisa, S., & Arismutia, S. A. (2026). Pengaruh Debt To Equity Ratio, Current Ratio, Dan Total Asset Turnover Terhadap Return on Equity Pada Perusahaan Sub Sektor Telekomunikasi Di Bursa Efek Indonesia Tahun 2017-2024. Jurnal Lentera Bisnis, 15(1), 763–775. https://doi.org/10.34127/jrlab.v15i1.2020
Annur Mutia, C. (2023). E-commerce, Sektor Penyumbang Ekonomi Digital Terbesar Indonesia pada 2023. In Databooks.
Astuti, Sembiring Lenny Dermawan, Supitriyani, Khairul Azwar, E. S. (2021). Analisis Laporan Keuangan. CV. Media Sains Indonesia.
Awailiyah, C., Oktaviana, D., & Herlambang, Y. T. (2024). Tantangan dan Peluang Teknologi dalam Dinamika Kehidupan di Era Teknologi. UPGRADE : Jurnal Pendidikan Teknologi Informasi, 1(2). https://doi.org/10.30812/upgrade.v1i2.3729
Brigham, E. F., & M. C. (2020). Financial Management: Theory & Practice (16 Edition). Cengage Learning.
Ervina Wati et al. (2023). Manajemen Keuangan dan Bisnis (Toeri dan Implementasi). PT. Sonpedia Publishing Indonesia.
Fahmi. (2020). Analisis Laporan Keuangan. Alfabeta.
Ghozali. (2021a). APLIKASI ANALISIS MULTIVARIATE Dengan Program IBM SPSS 26 Edisi 10. Badan Penerbit Universitas Diponegoro.
Griffin, R. W. (2024). Sistem Informasi Manajemen (Teori, Prinsip, dan Penerapan). PT.Sonpedia Publishing Indonesia.
Habibie, A. (2022). Analisa TATO dan DER Terhadap ROE Pada Perusahaan Sub Sektor Pertambangan yang Terdaftar di BEI. Ekonomi, Keuangan, Investasi Dan Syariah (EKUITAS), 3(3), 642–646. https://doi.org/10.47065/ekuitas.v3i3.1170
Harahap, Q. R. S. & D. D. (2021). Influence Current Ratio, Debt to Equity Ratio and Total Asset Turnover on Return on Equity in the Transportation Sector Industry. International Journal of Business Economics (IJBE), 2(2). https://doi.org/10.30596/ijbe.v2i2.6644
Hasyim, M. A. N., & Nuraeni, Y. A. (2022). Analysis of The Effect of Current Ratio, Total Asset Turnover, Debt to Equity Ratio, Net Profit Margin Toward Retrun on Equity. International Journal of Science, Technology & Management, 1(1). https://doi.org/https://ijsetm.my.id
Hendrawan, Y., Moorcy, N. H., Wulandari Santoso, A., & Sukimin, S. (2022). PENGARUH INDIKATOR MAKROEKONOMI DAN KINERJA KEUANGAN TERHADAP FINANCIAL DISTRESS PADA PERUSAHAAN SEKTOR PERTAMBANGAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. Jurnal GeoEkonomi, 13(2). https://doi.org/10.36277/geoekonomi.v13i2.207
Hery. (2021). Analisis Detail Dan Mendalam Atas Data Kuantitatif Laporan Keuangan. Gava Media.
Jaya, I. M. L. M. (2025). Manajemen Keuangan Perusahaan. Quandrant.
Jensen, M. C., & Meckling, W. H. (1976). Theory of the Firm: Managerial Behaviour, Agency Costs y Ownership Structure. Journal of Financial Economics, 3(4).
Jogiyanto Hartono. (2022). Portofolio dan Analisis Investasi. CV Andi Offset.
Karnawi Kamar et al. (2025). Manajemen dan Perilaku Organisasi. CV. Rey Media Grafika.
Kasmir. (2019a). Analisis Laporan Keuangan. PT. RAJAGRAFINDO PERSADA.
Laily, R. R. D. P. & N. (2022). Pengaruh Likuiditas, Solvabilitas, dan Aktivitas terhadap Profitabilitas terhadap perusahaan Food And Beverages yang terdaftar di BEI tahun 2015-2019. Jurnal Ilmu Dan Riset Manajemen, 7, 1–15. https://proceeding.unmuhjember.ac.id/index.php/nms/article/view/222/209
Luckieta, M. (2025). Strategi Manajemen Keuangan dan Dampaknya terhadap Kinerja Perusahaan Industri. Jurnal Sosial Dan Sains, 5(3), 651–659. https://doi.org/10.59188/jurnalsosains.v5i3.32108
Lutvia, S., & Suraya, A. (2025). The Influence of Current Ratio (CR) and Total Asset Turnover (TATO) on Return on Equity (ROE) at PT Wismilak Inti Makmur Tbk for the Period 2014-2023. Formosa Journal of Sustainable Research, 4(2). https://doi.org/10.55927/fjsr.v4i2.20
Nopa Nopiyanti & Destian Andhani. (2025). Pengaruh Current Ratio dan Total Asset Turnover terhadap Return on Equity pada PT. Barito Pacific Tbk periode 2013-2022. Journal of Research and Publication Innovation, 5(1), 720–583. https://doi.org/https://jurnal.portalpublikasi.id/index.php/JORAPI/index
Prabowo, A., & Risal, T. (2023). Peran Enterpreneurial Orientation Dan Social Media Marketing Terhadap Peningkatan Strategi Bersaing (Umkm) Coffe Shop Pada Era Modern Customer Di Kota Medan. Jurnal Menara Ekonomi: Penelitian dan Kajian Ilmiah Bidang Ekonomi, 9(1).
Prabowo, A., Adam, A. A., Subhan, Z. N., Tanjung, Y., Parhusip, A. A., & Deviana, A. Irwansyah.(2025). Sustainable Business Practices in Coffee Shops: The Role of Marketing Innovation, Digital Marketing, and Branding Innovation Through Market Development. International Journal of Accounting and Economics Studies, 12 (6), 43, 50. https://doi.org/10.14419/p0k0pc78
Prabowo, A., Dewi, A. F., Parhusip, A. A., Wijaya, M. R., & Tanjung, Y. (2025). MODERN ENTERPRENEURSHIP (Enterpreneurial Mindset: Cara Berpikir Yang Mengubah Ide Menjadi Realitas). Serasi Media Teknologi.
Prabowo, A., Wahyuni, E. S., Tanjung, Y., Wijaya, M. R., & Adam, A. A. (2025). Manajemen Pemasaran (Strategi Pemasaran Era Digital: Menguasai Tren dan Teknologi Sebagai Konsep Baru Meningkatkan Penjualan). Serasi Media Teknologi.
Rosmalina et al. (2025). Tranformasi Digital: Teori, Perkembangan, dan Implementasi. PT. Green Pustaka Indonesia.
Sagala, I. A. W., Pane, C. J., Yolanda, E., Yanti, N. F., & Panggabean, M. S. (2020). Pengaruh Debt to Equity Ratio, Current Ratio, dan Total Asset Turnover terhadap Return on Equity pada Perusahaan Consumer Goods Industry. Jurnal Ilmiah Universitas Batanghari Jambi, 20(3), 856. https://doi.org/10.33087/jiubj.v20i3.1029
Setyawan, D. A. (2024). Modul-MK. Statistika: Statistik Inferensial. Kemenkes RI.
Sitorus, L. M., Novianti, M., Sari, L. P., Ansiska, P., Studi, P., Universitas, A., Petulai, P., Studi, P., Geografi, P., & Pattimura, U. (2024). Analysis of the Corporate Financial Performance. 10, 25–33.
Sugiyono. (2022). Metode Penelitian Kuantitatif, Kualitatif, dan R&D. Alfabeta.
Sujarweni, V. W. (2025). Metodologi Penelitian. Pustaka Baru Press.
Sukmawati Sukamulja. (2021). Manajemen Keuangan Korporat Teori, Analisis, dan Aplikasi Dalam Melakukan Investasi. CV Andi Offset.
Tanjung, S., & Prabowo, A. (2025). Analisis social media marketing dan customer relationship marketing terhadap kepuasan konsumen Sikologi Coffee. Economic and Education Journal (Ecoducation), 7 (3), 975–989.
Wati, K. L., & Rajuddin, W. O. N. (2025). Transformasi Digital Dalam Manajemen Bisnis: Tantangan Dan Peluang Di Era Industri 4.0. Jurnal Ekonomi Dan Bisnis, 5(1). https://doi.org/10.56145/ekobis.v5i1.317
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Suci Handayani, Asnahwati
This work is licensed under a Creative Commons Attribution 4.0 International License.
