PENGARUH DEBT TO EQUITY RATIO DAN EARNING PER SHARE TERHADAP HARGA SAHAM PT WIJAYA KARYA (PERSERO) TBK PERIODE 2015-2024

Abstract

Research objective, is to examine the effect of Debt to Equity  Ratio (DER) and Earnings per Share (EPS) on the share price of PT Wijaya Karya Tbk during the period 2015–2024. Research Method, the type of research used is quantitative research using a descriptive approach and quota sampling in this study as many as 10 financial statement data taken from 2015-2024. The results of the research, the partial test (t-test) results show that the Debt to Equity Ratio (DER) variable has a t-value of -2.238 with a significance level of 0.060 (> 0.05) and a regression coefficient of -789.687, indicating that DER does not have a significant effect on the stock price of PT Wijaya Karya during the 2015–2024 period. Meanwhile, the Earnings Per Share (EPS) variable has a t-value of -0.788 with a significance level of 0.456 (> 0.05) and a regression coefficient of -1.181, which also indicates no significant effect on the stock price., but the simultaneous test revealed that the results of the simultaneous test (F test), obtained an F-calculated value of 8.787 with a significance of 0.012 (< 0.05), which means the variables Debt to Equity  Ratio (DER) and Earnings per Share (EPS) together has a significant effect on the share price of PT Wijaya Karya in the period 2015-2024, however, simultaneous testing reveals that the results of the simultaneous test (F test) yield an F-calculated value of 8.787 with a significance of 0.012 (< 0.05), which means that the Debt to Equity  Ratio (DER) and Earnings per Share (EPS) variables together have a significant effect on the stock price of PT Wijaya Karya during the period 2015–2024. The coefficient of determination value of 0.715 indicates that the independent variables EPS and DER can explain 71.5% of the dependent variable, meaning that the variables studied can be explained by this regression model, while the remaining 28.5% is explained by other factors outside this model. The value of 0.634 indicates a result that has been adjusted for the number of independent variables used; the variable is classified as 63.4% sufficient for this regression model. The R value of 0.846 indicates that the relationship between EPS and DER with the dependent variable is strong because its value is close to 1. The standard error of the estimate value of 489.660 indicates the average error from the predictions of the regression model, the smaller the better the model in predicting the dependent variable.