The Effect of Earning Per Share and Debt to Equity Ratio on the Share Price of PT Selamat Sempurna Tbk Period 2014-2024
DOI:
https://doi.org/10.58174/ijqmr.v1i3.32Keywords:
Earning Per Share; Debt To Equity Ratio; Stock PriceAbstract
This study aims to determine the Effect of Earning Per Share (EPS) and Debt To Equity Ratio (DER) on Stock Prices. The independent variables are Earning Per Share (EPS) and Debt To Equity Ratio (DER) and the dependent variable is the Share Price. Using quantitative research methods, the data analysis methods used were descriptive statistical tests, classical assumption tests (normality test, multicolelenarity test, heteroscedasticity test and autocorrelation test), multiple linear regression test, determination coefficient test, and hypothesis test (t test and f test) with the IBM SPSS Statistical Version 27 program. The results of the study with the T Test show that partially Earning Per Share (EPS) has a significant influence on the Stock Price seen from the significance value of 0.00 < 0.05 and the Calculation value of 7.314 > Ttable 2.262. Debt To Equity Ratio (DER) has a significant influence on the Stock Price as seen from the significance value of 0.038 < 0.05 and the Thcal value of 2.481 > Ttable 2.262. Then with the F test, it shows that simultaneously Earning Per Share (EPS) and Debt To Equity Ratio (DER) have a significance value of 0.00 < 0.05 and a Fcal value of 79.366 > a Ftable of 4.46. The Determination coefficient test, the R Square value is 0.952 which means that 95.2% of the dependent variables of the Stock Price are influenced by the independent variables of Earning Per Share (EPS) and Debt To Equity Ratio (DER) and the remaining 4.8% are influenced by other variables that were not studied by the researcher.
Downloads
References
Ambarwati, R., & Khuzaeni. (2024). The Effect of Return on Equity (ROE), Earning Per Share (EPS) and Debt to Equity Ratio (DER) on the Share Price at PT Perusahaan Gas Negara Tbk for the 2003-2024 Period. Journal of Consistency, 1(4), 292–302.
Arifian, D., & Suhaenah, S. (2022). The Effect of Debt-to-Equity Ratio (DER) and Return on Asset (ROA) on Stock Prices. 9, 141–146.
Ariyani, R., Putri, D. A., Nuralifah, E. A., Ameliani, J., & Manda, G. S. (2025). The Effect of Debt-to-Equity Ratio and Earnings Per Share on Banking Stock Prices in 2020-2023. ECONOMICS: Journal of Economics, Management, Accounting, 5(2), 1099–1110. https://doi.org/10.56799/ekoma.v5i2.12009
Cahyani, N. P. D., Gama, A. W. S., & Astiti, N. P. Y. (2025). The Effect of Company Size, Debt to Equity Ratio, and Return on Asset on Stock Prices in Technology Companies Listed on the Indonesia Stock Exchange for the 2020-2022 Period. GOLD, 6(1), 247–263. https://doi.org/10.36733/emas.v6i1.11284
Efrizon. (2019). The Effect of Financial Ratios on Stock Prices of Automotive Companies for the Period 2013-2017. Journal of Actual Accounting, 5(3), 250–261. https://doi.org/10.17977/um004v5i32019p250
Jeynes, Z., & Budiman, A. (2024). The Effect of Return On Asset, Return On Equity, Current Ratio, Earning Per Share and Debt To Equity Ratio on PT. Unilever Indonesia (Persero) Tbk for the 2016-2022 period. Scientific Journal of Management, Economics, & Accounting (MEA), 8(1), 56–78. https://doi.org/10.31955/mea.v8i1.3627
Kumara, A. M., & Widhiastuti, S. (2023). The Effect of Financial Ratios on Stock Prices with Price Book Value as an Intervening Variable. Scientific Journal of Accounting and Finance, 12(1), 64–73. https://doi.org/10.32639/jiak.v12i1.381
Linanjung, Y. A., Pekerti, V. S., & Tamrin, M. (2025). Legal Investment Education in the Indonesian Capital Market for Generation Z. That is why we need to be vigilant, and we need to be vigilant. https://doi.org/10.47841/jsoshum.v6i1.470
Magfiro, R. (2022). The Effect of Financial Ratios on Stock Prices. Journal of Management Science and Research.
Millatina, Q. W., & Nugroho, E. S. (2022). DER, TATO and EPS on shares of automotive companies and components on the IDX for the period 2015-2019. Journal of Economics, Management, Accounting and Technology, 5(1), 9–21. https://doi.org/10.32500/jematech.v5i1.1845
Mujaddidi, A. S. (2023). The Effect of Return on Asset, Earnings Per Share, and Current Ratio on the Share Prices of Automotive Companies. Shafin: Sharia Finance and Accounting Journal, 3(1), 28–64. https://doi.org/10.1905/sfj.v3i1.8537
Naelufar, Asrori, & Agustina, L. (2021). Factors that affect stock prices in manufacturing companies in the automotive sub-sector. Journal of Accounting and Tax, 22(1). https://doi.org/10.29040/jap.v22i1.1899
Potabuga, A., Saerang, I. S., & Tulung, J. E. (2023). The Effect of Financial Performance on Stock Prices in Automotive Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange for the 2017-2021 Period. JAMBURA: Scientific Journal of Management and Business, 5(3). https://doi.org/10.37479/jimb.v5i3.18226
Riyaldi, R., Solihin, & Nur, B. (2022). The Effect of ROA, ROE, DER, and Rupiah Exchange Rate on Stock Price Movements During the Covid-19 Pandemic. Scientific Journal of Hospitality, 11(2), 733–748. http://stp-mataram.e-journal.id/JIH
Sinaga, S., & Rahman, A. (2025). The Effect of ROA, ROE, DER and EPS on Stock Prices in Advertising, Printing and Media Companies Listed on the IDX. Journal of Minfo Polgan, 13(2), 2642–2651. https://doi.org/10.33395/jmp.v13i2.14571
Siswanti, T. (2024). The Earnings Per Share Effect moderates the effect of Return on Assets, Debt to Equity Ratio and Dividend Payout Ratio on the share price of technology sector companies listed on the Indonesia Stock Exchange for the 2021-2023 period. Journal of Business and Accounting Element, 9(2). https://doi.org/10.35968/jbau.v9i2.1280
Sochib. (2019). The Effect of Price to Book Value, Earning Per Share and Debt to Equity Ratio on the Share Prices of National Private Commercial Banks. Wiga: Journal of Economic Research, 9(1), 20–29. https://doi.org/10.30741/wiga.v9i1.408
Sudiyono, R. N., Hartati, R., Ningtyas, A. A., Sasono, I., & Ramawati, N. (2023). The Effect of Earnings Per Share, Debt to Equity Ratio and Return on Equity on Share Prices in LQ45 Companies Listed on the Indonesia Stock Exchange in 2018-2021. Jubisma, 5(1). https://doi.org/10.58217/jubisma.v5i1.80
Suryani, F., Sanjaya, T., & Siregar, H. A. (2023). The Effect of Price Earnings Ratio (PER), Earning Per Share (EPS), Current Ratio (CR), Debt To Equity Ratio (DER), and Company Size on Stock Prices in Pharmaceutical Sub-Sector Manufacturing Companies Listed on the Indonesia Stock Exchange (IDX). Exchange Rate: Journal of Accounting, Entrepreneurship and Business, 8(1). https://doi.org/10.35145/kurs.v8i1.2881
Syafitri, R. H. (2024). The Effect of Return on Asset (ROA), Earning Per Share (EPS) and Total Asset Turnover (TATO) on the Share Price at PT Astra Otoparts Tbk for the 2012-2023 Period. 2(4), 2632–2643. https://jurnal.portalpublikasi.id/index.php/jorapi/article/view/1202/910
Wardoyo, D. U., Agusty, F. P., & Hanifa, A. N. (2022). The Effect of Earnings Per Share, Return on Asset and Debt to Equity Ratio on Stock Prices. Journal of Scientific Horizons, 1(5), 1091–1102. https://doi.org/10.53625/jcijurnalcakrawalailmiah.v1i5.1198
Zahra, M. I., & Sari, W. I. (2024). The Effect of Current Ratio (CR) and Debt to Equity Ratio (DER) on the Stock Price of PT. Indofood Sukses Makmur Tbk. Period 2014-2023. Jorapi: Journal of Research and Publication Innovation, 2(4), 411–420.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2026 Amalia Hidayati, Sutiman
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
This work is licensed under a 