Conference Universitas Siliwangi
International Seminar and Conference on Management, Research, and Transformation (I-SMART)

The Effect of Return on Assets (ROA) and Debt to Equity Ratio (DER) on The Share Price of PT. Telkom Indonesia (Persero) Tbk. Period 2015-2024

Date Published : 15 October 2026

Contributors

Dwi Yuliana Ulfah

Universitas Siliwangi
Author

Mida Hania, A.Md.Bns.

Universitas Siliwangi
Author

Shafa Salsabila Harianto

Universitas Siliwangi
Author

Tria Wulandari

Universitas Siliwangi
Author

Keywords

Return on Assets (ROA) Debt to Equity Ratio (DER) Stock Price

Proceeding

Vol. 1 (2025): International Seminar and Conference on Management, Research, and Transformation (I-SMART 1.0)

Track

General Track

License

Copyright (c) 2026 International Seminar and Conference on Management, Research, and Transformation (I-SMART)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

This study aims to find out and analyze the Return on Assets (ROA) and Debt to Equity Ratio (DER) in the share price of PT Telkom Indonesia (Persero) Tbk for the 2015–2024 period. The method used is a quantitative approach with secondary data in the form of the company's annual financial statements processed using multiple linear regression analysis. The results showed that ROA and DER simultaneously affected stock prices, although the contribution was relatively small at 0.6%, while 99.4% was influenced by other factors outside the research model. In part, neither ROA nor DER has a significant influence on the stock price because their significance value is greater than 0.05. During the research period, PT Telkom's ROA fluctuated, reaching a high point in 2017 and a low in 2022, while DER showed an upward trend, reaching its peak in 2024. Stock prices also show a trend of fluctuations, with values high in 2017 and lows in 2024. These findings show that fundamental factors, such as profitability and capital structure, are not always the main determinants of Telkom's share price movements. Therefore, investors should also consider external factors and macroeconomic conditions before making investment decisions.

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How to Cite

Dwi Yuliana Ulfah, D. Y. U., Mida Hania, M. H., Shafa Salsabila Harianto, S. S. H., & Tria Wulandari, T. W. (2026). The Effect of Return on Assets (ROA) and Debt to Equity Ratio (DER) on The Share Price of PT. Telkom Indonesia (Persero) Tbk. Period 2015-2024. International Seminar and Conference on Management, Research, and Transformation (I-SMART), 1, 1096-1109. https://conference.unsil.ac.id/ismart/paper/view/304