Analysis of the Effect of Financial Ratios on Stock Returns in Property and Real Estate Companies in 2020–2023

This study aims to analyze the partial and simultaneous effect of Current Ratio (CR), Debt to Equity Ratio (DER), Net Profit Margin (NPM), and Price Earning Ratio (PER) on stock returns in property and real estate companies from 2020 to 2023. This research uses a quantitative approach and purposive sampling technique, with 72 samples from 18 companies. Data were analyzed using multiple linear regression of panel data, classical assumption tests, t-test, F-test, and coefficient of determination with the help of SPSS version 22. The results show that CR and DER have a significant negative effect on stock returns, while NPM and PER have a positive but insignificant effect. Simultaneously, all four financial ratios significantly affect stock returns.