PENGARUH TOTAL ASSET TURNOVER, OPERATING EXPENSE RATIO, DAN DEBT TO EQUITY RATIO TERHADAP RETURN ON ASSETS PADA PERUSAHAAN TRANSPORTASI DAN LOGISTIK YANG TERDAFTAR DI BURSA EFEK INDONESIA
DOI:
https://doi.org/10.35446/bisniskompetif.v5i2.2948Abstract
Penelitian ini bertujuan untuk menganalisis pengaruh Total Asset Turnover (TATO), Operating Expense Ratio (OER), dan Debt to Equity Ratio (DER) terhadap Return on Assets (ROA) pada perusahaan transportasi dan logistik yang terdaftar di Bursa Efek Indonesia. Sampel penelitian terdiri atas 27 perusahaan selama periode 2021–2025 dengan total 135 observasi. Analisis data dilakukan menggunakan regresi linier berganda dengan bantuan perangkat lunak SPSS versi 26. Hasil penelitian menunjukkan bahwa TATO berpengaruh positif dan signifikan terhadap ROA (β = 0,302; sig 0,000), yang mengindikasikan bahwa semakin efisien perusahaan dalam memanfaatkan asetnya, semakin tinggi tingkat profitabilitas yang dihasilkan. Sebaliknya, OER memiliki pengaruh negatif terhadap ROA (β = -0,219; sig 0,005), yang menunjukkan bahwa peningkatan beban operasional dapat menekan kinerja profitabilitas perusahaan. Selain itu, DER berpengaruh negatif dan signifikan terhadap ROA (β = -0,264; sig 0,001), yang mengindikasikan bahwa tingkat leverage yang tinggi cenderung menurunkan profitabilitas perusahaan. Nilai koefisien determinasi (R2) sebesar 0,236 menunjukkan bahwa ketiga variabel independen mampu menjelaskan 23,6% variasi profitabilitas. Temuan ini menegaskan bahwa efisiensi pemanfaatan aset, pengendalian biaya operasional, dan pengelolaan struktur modal merupakan faktor penting dalam meningkatkan profitabilitas perusahaan. Oleh karena itu, manajemen perlu memprioritaskan strategi peningkatan efisiensi operasional dan optimalisasi struktur modal untuk mendukung kinerja keuangan yang berkelanjutan.
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