Louis Waluyo, Luky Patricia Widianingsih


Capital market is a place for various parties to conduct buy and sell transactions of shares and/ or bonds aiming for additional funds, strengthen company’s capital and investment. Among all the instruments sold in the capital market, stocks are one of the most demanded products by prospective investors. A country’s stock price movement can be used as a reference to see how the country’s economic policies are running. This research aims to analyze the impact of NPM, GPM, EPS, ROA, and ROE on stock price of the building construction subsector. This research uses secondary data of companies’ annual financial report. Population in this research are a building construction subsector listed on the Indonesia Stock Exchange on 2014-2017 which is 16 companies. Based on purposive sampling method, a research sample of 9 companies are obtained. This research analysis technique uses multiple linear regression analysis by using SPSS 24. The result showed that NPM and ROE have positive influence on stock price, ROA has negative influence on stock price, whereas GPM and EPS have no influence on stock price, whereas GPM and EPS have no influence on stock price. The coefficient of adjusted R2 is 36.9% meaning 36.9% of the stock price as dependent variable is influenced by NPM, GPM, EPS, ROA, and ROE, while the remaining 63.1% is influenced by other variables outside this research model.

Save to Mendeley


Stock price; net profit margin; gross profit margin; earning per share; return on assets; return on equity

Full Text:



Akbar & Afiezan. (2018). Determination of Sharia Stock Price through Analysis of Fundamental Factors and Macro Economic Factors. Account and Financial Management Journal, 3(10), 1739-1745.

Alfianti A., D. & Andarini, S. (2017). Pengaruh Profitabilitas Terhadap Harga Saham Pada Perusahaan Makanan dan Minuman yang Terdaftar di Bursa Efek Indonesia. Jurnal Bisnis Indonesia, 8(1), 45-56.

Arifin, N. & Agustami, S. (2016). Pengaruh Likuiditas, Solvabilitas, Profitabilitas, Rasio Pasar, dan Ukuran Perusahaan Terhadap Harga Saham (Studi Pada Perusahaan Subsektor Perkebunan yang Terdaftar di Bursa Efek Indonesia Tahun 2010-2014). Jurnal Riset Akuntansi dan Keuangan, 4(3), 1189-1210.

Brigham & Houston. (2014). Dasar-Dasar Manajemen Keuangan Edisi Sebelas Buku Kedua. Jakarta, Indonesia: Salemba Empat.

Fahmi, Irham. (2014). Manajemen Keuangan dan Pasar Modal. Jakarta, Indonesia: Mitra Wacana Media.

Ferdian, R., Suryadi E., & Safitri, H. (2018). Analisis Dividend Payout Ratio (DPR), Gross Profit Margin (GPM), dan Net Profit Margin (NPM) Terhadap Harga Saham Indeks PEFINDO-25. Jurnal Produktivitas, 5(1), 43-8.

Ghozali, Imam. (2016). Aplikasi Analisis Multivariate Dengan Program IBM SPSS 23 Edisi Delapan. Semarang, Indonesia: Badan Penerbit Universitas Diponegoro.

Indahsafitri, P., Wahono, B., & ABS, M. (2018). Pengaruh Return on Equity (ROE), Net Profit Margin (NPM), Gross Profit Margin (GPM), dan Earning Per Share (EPS) Terhadap Harga Saham (Studi Empiris Pada Perusahaan Yang Terdaftar Dalam LQ 45 BEI Periode 2013-2016). E-jurnal Riset Manajemen Prodi Manajemen, 7(2), 67-81.

Kasmir. (2017). Analisis Laporan Keuangan. Jakarta, Indonesia: Rajagrafindo Persada.

Nurhakim, A., Yunita, I., & Iradianty, A. (2016). Pengaruh Profitabilitas dan Inflasi Terhadap Return Saham Pada Industri Farmasi yang Terdaftar di BEI Periode 2011-2014. E-proceeding of Management, 3(1),2016-213.

Rahmawati, A., Slamet, B., & Maimunah, S. (2017). Pengaruh Earning Per Share (EPS), Return on Equity (ROE), dan Debt to Equity Ratio (DER) Terhadap Return Saham Pada Perusahaan Food and Beverages yang Terdaftar di Bursa Efek Indonesia Periode 2011-2015. Jurnal Online Mahasiswa (JOM) Bidang Akuntansi, 2(2), 1-9.

Supratman, Iman. (2017). Analisis Laporan Keuangan. Bandung, Indonesia: Pustaka Setia.

Watung, R. & Ilat, V. (2016). Pengaruh Return on Aseet (ROA) , Net Profit Margin (PM), dan Earning Per Share (EPS) Terhadap Harga Saham Pada Perusahaan Perbankan di Bursa Efek Indonesia Periode 2011-2015. Jurnal EMBA, 4(2), 518-529.