Pengaruh Debt To Equity Ratio, Total Asset Turnover, Dan Sales Growth Terhadap Net Profit Margin Pada Perusahaan Subsektor Retail Yang Terdaftar Di Bursa Efek Indonesia Periode 2020 – 2025

Abstrak

THE EFFECT OF DEBT TO EQUITY RATIO, TOTAL ASSET TURNOVER, AND SALES GROWTH ON NET PROFIT MARGIN IN RETAIL SUBSECTOR COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE FOR THE 2020–2025 PERIOD

The fluctuation of Net Profit Margin (NPM) in retail subsector companies reflects instability in profitability performance. This condition encourages the need to examine internal factors that may be associated with profit generation. This study investigates the effect of Debt to Equity Ratio (DER), Total Asset Turnover (TATO), and Sales Growth on Net Profit Margin (NPM) in retail subsector companies listed on the Indonesia Stock Exchange (IDX) during the 2020 – 2025 period. This research is a quantitative study with a causal associative approach. The sample was determined using purposive sampling, resulting in 6 companies with a total of 36 observations. The analysis was conducted using panel data regression with the Random Effect Model (REM). The results indicate that DER has a significant effect on NPM, while TATO and Sales Growth do not show significant effects. Simultaneously, all independent variables significantly influence NPM. The Adjusted R² value of 0.143081 indicates that the model explains approximately 14.31% of the variation in NPM, while the remaining 85.69% is influenced by factors outside the model. These conditions reflect that corporate profitability performance is associated with internal factors, although the effects of individual variables are not entirely consistent.