PENGARUH LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP PROFITABILITAS: BUKTI EMPIRIS PADA EMITEN TERPILIH DI BURSA EFEK INDONESIA PERIODE 2023–2025

Abstract

This article looks at whether liquidity conditions and asset scale are related to a company's profitability during 2023–2025. The data used comes from the issuer's financial statements which are the research sample. Profitability is proxied by Return on Assets (ROA), liquidity by Current Ratio (CR), and company size with natural logarithm total assets (SIZE). The research data consisted of 24 observations from eight issuers selected based on the availability of verifiable financial data. The analysis uses multiple linear regression with classical assumption testing. The results showed that the model was simultaneously significant (F = 18.671; p < 0.001) with an R² of 0.6401 and an adjusted R² of 0.6058. Current Ratio had a negative but insignificant effect on ROA (B = −0.1455; p = 0.849), while SIZE had a negative and significant effect on ROA (B = −4.3574; p < 0.001). The Shapiro–Wilk test showed normal distributed residual (p = 0.935), a VIF of 1.168 showed no multicollinearity, and the Breusch Pagan test showed no heteroscedasticity at the 5% level (p = 0.064). The findings show that in the study sample, profitability variation is stronger with regard to company size than liquidity. Because the sample size is relatively small and consists of cross-sector issuers, the results are positioned as exploratory evidence.