ANALISIS PROFITABILITAS, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUBSEKTOR KONSTRUKSI DAN BANGUNAN DI BEI PERIODE 2020–2024
Abstract
The study aims to examine how profitability, liquidity, and company size affect the value of companies in the construction and building sub-sector listed on the Indonesia Stock Exchange (IDX) for 2020–2024. The role of company value is very important because it reflects investors' perceptions of the company's performance and prospects. An explanatory quantitative approach was used, supplemented by secondary data, particularly annual financial reports. Profitability is measured using ROE, liquidity using CR, company size using the natural logarithm of total assets, and company value using PBV. Panel data regression with EViews is used for data analysis. The results show that profitability has a significant negative effect on company value, liquidity has a significant positive effect, while company size has a significant negative effect. This means that an increase in profit or company size does not necessarily lead to an increase in company value, while good liquidity management actually increases investor confidence. Overall, all three have a significant effect on company value. Therefore, management is advised to pay attention to operational efficiency and liquidity management, as well as to assess company size strategically. Investors are advised to pay attention to liquidity as a crucial benchmark for making investment decisions. This research contributes empirically to the literature on financial management and the construction sector.
References
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Khalifaturofi’ah SO, Setiawan R (2025), Profitability’s impact on firm value in Indonesia’s real estate firms: a panel data investigation. Property Management, Vol. 43 No. 2 pp. 169–186, doi: https://doi.org/10.1108/PM-08-2023-0082
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Kusnanto, E., & Qalbia, F. (2024). The Impact Of Profitability, Firm Size, And Growth Opportunities On The Value Of Property Companies. 2.
Liew, C. Y., & Devi, S. S. (2019). Family firms, banks and firm value : Evidence from Malaysia. https://doi.org/10.1108/JFBM-03-2019-0015
Limba, F. B., Soukotta, A., Latuamury, J., & Kusumastuti, R. (2023). THE IMPACT OF FIRM SIZE AND PROFITABILITY (ROA) IN INDONESIA REAL ESTATE SECTOR COMPANIES (IDX). 12(02), 390–396.
Ma’aji MM, Barnett C, Bin-Nashwan SA, Roslan NH, Ali RA (2025;), Risk-driven profitability: the role of bank capital, liquidity and credit in frontier banking markets. Journal of Financial Regulation and Compliance. https://doi.org/10.1108/JFRC-01-2025-0008
Mahanani, H. T., & Kartika, A. (2022). Pengaruh struktur modal, likuiditas, ukuran perusahaan, dan profitabilitas terhadap nilai perusahaan. 5(1), 360–372.
Mahirah, A., & Uzliawati, L. (2021). Effects of Firm Size and Capital Structure on Firm Value (Empirical Study of Telecommunication Companies Listed on the Indonesia Stock Exchange for 2018-2021). December 2023, 126–136.
Marhaeningtyas, D., & Ulil, H. (2020). Kepemilikan manajerial, kebijakan dividen, leverage, profitabilitas, ukuran perusahaan, dan nilai perusahaan (studi pada perusahaan pertambangan di indonesia). Jurnal Ilmu Manajemen, 8(3), 1060–1072. https://doi.org/https://doi.org/10.26740/jim.v8n3.p1060-1072
Maulana, M. R., & Nurhayati, I. (2025). Pengaruh profitabilitas, ukuran perusahaan, likuiditas, dan struktur modal terhadap nilai perusahaan pada perusahaan manufaktur yang terdaftar di Bursa Efek Indonesia periode 2019–2023. COSTING: Journal of Economic, Business and Accounting, 8(2). https://journal.ipm2kpe.or.id/index.php/COSTING/article/view/14052
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Michael, S. (1973). Job Market Signaling. Quarterly Journal of Economics, 355–374.
Moloi N, Akinsomi O, Wong WC (2025), Black economic empowerment (BEE) and its influence on listed firms’ liquidity: an SA REIT’s perspective. Journal of Property Investment & Finance, Vol. 43 No. 5 pp. 543–569. https://doi.org/10.1108/JPIF-10-2024-0130
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Nurimawati, S., Rahmawati, & D., Widjajanti, K. (2020). Metodologi Penelitian Bisnis. Deepublish.
Pamungkas, B., Cici, G., Netti, A., Nurhayati, S., & Miftahuddin, A. (2024). The Effect of Profitability and Liquidity on Firm Value with Capital Structure as a Moderating Variable. 7(1), 763–776.
Pangesti, G., Mahmudi, B., & Hakim, L. (2020). Pengaruh Ukuran Perusahaan Terhadap Nilai Perusahaan Dengan Struktur Modal Sebagai Variabel Intervening. SULTANIST: Jurnal Manajemen dan Keuangan, 8(2), 169-181. https://doi.org/10.37403/sultanist.v8i2.220
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Published
2026-03-18
How to Cite
Fauziah, A., Oktoriza, L., Anomsari, A., & Samasta, A. (2026). ANALISIS PROFITABILITAS, LIKUIDITAS DAN UKURAN PERUSAHAAN TERHADAP NILAI PERUSAHAAN PADA PERUSAHAAN SUBSEKTOR KONSTRUKSI DAN BANGUNAN DI BEI PERIODE 2020–2024. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 10(1), 1752-1773. https://doi.org/10.31955/mea.v10i1.7248
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