Pengaruh Return on Assets dan Price to Book Value terhadap Harga Saham Bank BNI 2020–2024

Muthia Fenny; Enji Azizi; Mira Nurhikmat

doi:10.61132/manuhara.v4i3.2725

Authors

Muthia Fenny Universitas Faletehan
Enji Azizi Universitas Faletehan
Mira Nurhikmat Universitas Faletehan

DOI:

https://doi.org/10.61132/manuhara.v4i3.2725

Keywords:

Bank, Financial Ratio, Price to Book Value, Return on Assets, Stock Price

Abstract

This research examines how Return on Assets (ROA) and Price to Book Value (PBV) relate to the stock price of PT Bank Negara Indonesia (Persero) Tbk. across 2020–2024, adopting a quantitative, explanatory-research design. Secondary data were gathered from the company’s quarterly financial reports and closing share prices over the same period, producing 20 quarterly observations. Statistical processing combined descriptive analysis, classical assumption checks, multiple linear regression, partial (t) and simultaneous (F) hypothesis tests, and the coefficient of determination, all computed in SPSS 25. Findings indicate that ROA’s partial effect on stock price was negative and statistically insignificant (sig. = 0.800), whereas PBV showed a positive but likewise insignificant partial effect (sig. = 0.306). When tested together, ROA and PBV did not significantly affect stock price (sig. = 0.577), and their combined R Square of 0.063 means they account for merely 6.3 percent of the variance in stock price, leaving 93.7 percent explained by factors beyond the model. Overall, the evidence indicates ROA and PBV played only a minor role in shaping BNI’s share-price movement during the study period, implying that investors evaluating banking stocks should weigh additional financial ratios and macroeconomic conditions rather than relying on these two indicators alone.

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