The Effect Of Operating Costs, Capital Structure And Liquidity On Profitability In Companies In The Processed Food Subsector Listed On The Indonesian Stock Exchange (BEI) For The Period 2021–2025

Rincon M A Sihombing; Aris Riksan Pranata  Sihombing; Doni Setiawan

doi:10.47747/ijbme.v7i3.3629

Authors

Rincon M A Sihombing Universitas Esa Unggul
Aris Riksan Pranata Sihombing Universitas Esa Unggul
Doni Setiawan Universitas Esa Unggul

DOI:

https://doi.org/10.47747/ijbme.v7i3.3629

Keywords:

Operating Costs, Capital Structure, Liquidity, Profitability

Abstract

This study aims to analyse the impact of operating costs, capital structure and liquidity on profitability in companies in the Food and Beverage sub-sector listed on the Indonesia Stock Exchange (IDX) for the period 2021–2025. Profitability is measured using Return on Assets (ROA), operating costs are measured by the Operating Expenses to Operating Revenue ratio (BOPO), capital structure is measured by the Debt to Equity Ratio (DER), and liquidity is measured by the Current Ratio (CR). This study employs a quantitative approach using secondary data in the form of annual financial statements, comprising 140 observations (firm-years) from 28 companies. The analysis method employed was multiple linear regression. The results indicate that, when considered individually, operating costs (BOPO) have a positive and significant effect on ROA, capital structure (DER) has a positive and significant effect on ROA, whilst liquidity (CR) has a positive but insignificant effect on ROA. When considered simultaneously, all three variables have a significant effect on profitability

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