Pengaruh ROA, ukuran perusahaan, dan pertumbuhan penjualan terhadap DER pada perusahaan sektor property dan real estate yang terdaftar di BEI periode 2021–2025.

Abstract

This study aims to analyze the effect of Return on Assets (ROA), company size, and sales growth on the Debt to Equity Ratio (DER) in property and real estate companies listed on the Indonesia Stock Exchange (IDX) for the 2021–2025 period. This research is motivated by fluctuations in the Debt to Equity Ratio (DER) in property and real estate companies and the inconsistency of previous research findings on the effect of Return on Assets (ROA), company size, and sales growth on the Debt to Equity Ratio (DER). This study uses a quantitative approach with descriptive and verification methods and utilizes secondary data. The sampling technique used purposive sampling, resulting in 62 companies with 310 observations during the 2021–2025 period. Data analysis was performed using panel data regression with the Random Effects Model (REM). The results of the study indicate that Return on Assets (ROA) and sales growth have a negative and significant effect on the Debt to Equity Ratio (DER), while company size has a positive and significant effect on the Debt to Equity Ratio (DER). Simultaneously, Return on Assets (ROA), company size, and sales growth have a significant effect on the Debt to Equity Ratio (DER). This study is expected to provide empirical evidence regarding the factors influencing capital structure in property and real estate companies in Indonesia.