PENGARUH CURRENT RATIO, PRICE TO BOOK VALUE DAN RETURN ON ASSET TERHADAP RETURN SAHAM

This study aims to analyze the effect of Current Ratio (CR), Price to Book Value (PBV), and Return on Assets (ROA) on stock returns in telecommunication sub-sector companies listed on the Indonesia Stock Exchange (IDX). The background of this study is based on fluctuations in companies' financial performance, which are assumed to influence the level of returns obtained by investors. The research method used is quantitative with an associative approach. The population consists of 22 telecommunication sub-sector companies, with a sample of 3 companies selected using purposive sampling technique. The research data includes 18 observations during the period 2019–2024. Data analysis was conducted using multiple linear regression with the help of SPSS version 26, including classical assumption tests, regression analysis, coefficient of determination test, t-test, and F-test. The results show that partially, CR and ROA have no significant effect on stock returns, with significance values of 0.506 and 0.316, respectively. Meanwhile, PBV has a significant effect on stock returns with a significance value of 0.044. Simultaneously, CR, PBV, and ROA do not have a significant effect on stock returns (Sig. 0.144). The coefficient of determination (R²) is 0.312, indicating that 31.2% of stock return variation can be explained by the model, while 68.8% is influenced by other factors outside the research model.