Pengaruh Profitabilitas, Likuiditas, dan Financial Distress terhadap Nilai Perusahaan BUS yang terdaftar BEI

Abstract

This study analyzes the effect of profitability (ROA), liquidity (FDR), and financial distress (Altman Z-Score) on firm value (PBV) in 4 Islamic Commercial Banks listed on the Indonesia Stock Exchange for the period 2018–2024, with 112 observations from quarterly financial reports using the Common Effect Model through EViews 12. Purposive sampling was used to choose the sample using a causal associative quantitative approach. Partial results show that ROA has no significant impact (prob. 0.1349), FDR has a negative and significant effect (prob. 0.0093), and Altman Z-Score has a positive and significant effect (prob. 0.0000). Concurrently, the third variable has a significant effect on firm value (F-statistic 25.480; prob. 0.0000) with an Adjusted R² of 39.82%. These results emphasize the importance of prudent liquidity management and consistent maintenance of financial health as an effort to increase investor confidence and company value in the capital market, while also providing an empirical contribution to the development of Islamic financial management.