Pengaruh Current Ratio, Debt to Equity Ratio, dan Sales Growth Terhadap Kinerja Keuangan Pada Sektor Teknologi yang Terdaftar di Bursa Efek Indonesia Periode 2020-2024

Abstrak

This study aims to analyze the influence of Current Ratio, Debt to Equity Ratio, and Sales Growth on the financial performance of technology sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020–2024 period. The technology sector is experiencing pressure due to the industrial slowdown and the Tech Winter phenomenon, which has resulted in a decline in company profitability. This condition emphasizes the importance of liquidity management, capital structure, and sales growth as factors suspected of influencing financial performance. However, previous research on the influence of these three variables on financial performance has shown inconsistent results. This study uses a quantitative approach with a causal associative research method and utilizes secondary data. The sampling technique used purposive sampling, resulting in 10 companies as research samples with 50 observations during the 2020–2024 period. Data analysis was performed using panel data regression with the Random Effect Model (REM) as the best model based on the results of the model selection test. The results show that Current Ratio has no significant effect on financial performance, while Debt to Equity Ratio has a positive and significant effect, and Sales Growth has a negative and significant effect on financial performance. Simultaneously, all three variables have a significant effect on financial performance. These findings indicate that capital structure plays a role in improving financial performance, while high sales growth does not necessarily increase profitability, and liquidity levels have no significant impact. This research is expected to provide empirical evidence on the factors influencing the financial performance of technology companies in Indonesia.