The Influence Of Return On Equity (Roe), Return On Assets (Roa) And Net Profit Margin (Npm) On PT Minimal Tiga Kata, 2019 – 2023

This study aims to determine the effect of Return on Equity (X1), Return On Assets (X2), and Net Profit Margin (X3) on Stock Prices (Y) at Minimum Three Word PT in 2019-2023. The population in this study is the financial statements of PT Minimum Three Words and a sample of 17 samples in quarterly form from 2019 – 2023. Based on the results of the multiple linear regression test, the regression equation is Y=2250.470+4.349X_1-68.117X_2+208.031X_3+e. Based on the results of the partial test, it was found that the variable Return on Equity did not have a significant effect on stock prices, Return on Assets had a significant effect on stock prices, while Net Profit Margin had a significant effect on stock prices. The results of simultaneous testing show that Return on Equity, Return on Assets, and Net Profit Margin have a significant effect on stock prices. The R Square value in this study is 0.384 or 38.4%, namely the contribution of the variables ROA, ROE and NPM to stock prices while the remaining 61.6% is influenced by factors other than ROA, ROE and NPM.


INTRODUCTION
The development of the capital market is currently growing rapidly among the public.These developments represent important developments for the Indonesian economy.The more developed the capital market, the more people invest in the capital market.The development of the capital market in Indonesia provides evidence that the capital market is an investment alternative for Indonesian people.
Stock investment activities are expected by the community to generate profits for the perpetrators.According to Muhammad (2021) global stock investment aims to obtain capital gains and cash dividends.Someone who owns shares not only has benefits, but has risks that are difficult for stock investors to predict, one of the risks is changes in stock prices that change over time.
Fluctuations in stock prices are changes every time that are difficult for someone to predict.Therefore, an investor needs to have up to date information and the right performance measurement tools, so that when a potential investor or investor buys shares in a company, it will produce positive returns as expected.
Stock prices change all the time.So that investor must be able to know the factors that influence stock prices.The main factors that cause stock prices are internal factors and external factors.One of the internal factors is a fundamental factor or a factor that comes from within the company and can be controlled by company management.External factors are nonfundamental factors, such as interest rates or government policies (Natarsyah, 2000:296).
Stock fundamental analysis is an analysis technique that considers various factors, such as company performance, competition analysis, industry analysis, economic analysis and macro-micro market.And from here you can also see whether the company is still healthy or not.From these checks, investors can find out which companies are in good condition and can be selected for investment.In this study the fundamental factors used are Return On Equity (ROE), Return On Assets (ROA) and Net Profit Margin (NPM).
Ratios such as Return on Equity (ROE), Return On Assets (ROA) and Net Profit Margin (NPM) are ratios that increase company profitability.This ratio is used to measure the company's level of profit.As an investor, you need to know because the main goal of investing is to make a profit.
The reason researchers conducted research on the company PT.At least Three Words engaged in Universal HR Professional Certification Institution because this company continues to develop from the initial process to the present so that investors are interested in collaborating.
The following are the values of some of the ratios obtained, namely Return On Equity (ROE), Return On Assets (ROA) and Net Profit Margin (NPM) of PT.Minimum Three Words as follows:

Figure 1. Normality Plot
Based on the plot above, it is known that the point is close to the diagonal line.If it is normally distributed, the line that describes the actual data will follow the diagonal line.So it can be concluded that the data is normally distributed.Normality can also be seen from the significance values as follows: The normality test aims to determine whether the dependent variable and independent variable in the regression model have a normal distribution or not (Ghozali, 2016: 154).From the table above it is known that the results of the data normality test using the Kolmogorv-Smirnov at the residual value.Viewed Asymp value.Sig (2-tailed) of 0.200 > α (0.05) it can be concluded that the data is normally distributed.The multicollinearity test is used to test the regression model, whether a correlation is found between the independent variables or not.A good regression model is a model in which there is no correlation between the independent variables (Ghozali, 2016: 104).From the table above it is known that the VIF value <10 means that there is no multicollinearity.Then it can be continued with the next classical assumption test.

Figure 2. Heteroscedasticity Test Plot
The heteroscedasticity test is used to determine whether there are variance differences from the residuals between observations (Ghozali, 2016: 134).Based on the graph above, it is known that the points spread randomly and are spread both above and below the number 0 on the Y axis.So it can be concluded that there is no heteroscedasticity.

Return On Assets (X2)
Based on the test results in the table above, it can be seen that the Return On Assets variable has a tcount of -2.188.While the significance level is smaller than the specified level of significance, namely 0.048 <α (0.05).This shows that Return On Assets has a negative direction but has a significant effect on the share price of PT Minimum Three Words for the 2019 -2023 period.So, ROA partially has a significant effect on stock prices.

Net Profit Margin (NPM)
Based on the test results in the table above, it can be seen that the Net Profit Margin variable has a tcount of 3,481.While the significance level is smaller than the specified level of significance, namely 0.004 <α (0.05).This shows that the Net Profit Margin has a positive direction but has a significant effect on the PT Minimum Three Words Stock Price for the 2019 -2023 period.Thus, NPM partially has a significant effect on the Share Price.

CONCLUSION
a. Effect of Return On Equity (ROE) on the stock price of PT.Minimum Three Words The regression equation shows that the regression coefficient Return On Equity (X1) is 4,349, which means that Return On Equity has a positive direction on stock prices.The regression coefficient value indicates that for every increase in Return On Equity by 1 unit, the stock price will increase.While the significance level is greater than the specified level of significance, namely 0.560 > α (0.05).This shows that Return On Equity has a positive direction and has no effect on the PT Share Price for a Minimum of Three Words Period 2019 -2023.So, ROE partially has no effect on Share Prices.The higher the ROE will reflect the effectiveness of profits from the company's own capital, this causes investors to have more confidence in investing in shares in companies that have a high ROE value.This is in line with research conducted by Febby (2019) that the ROE variable has no partial effect on stock prices.ROE is a ratio that reflects the performance of a good company management so that the stock will increase and the price will increase.The reason why ROE has no effect may be due to poor management performance, so that the profit earned by the company does not yet reflect the company's net profit that can be distributed to investors, so that investors may feel disadvantaged.This can also be caused by the fact that in analyzing stocks, investors do not consider the company's fundamental factors, causing the ROE variable to have no effect on stock prices.b.Effect of Return On Assets (ROA) on the stock price of PT.Minimum Three Word The regression equation shows that the regression coefficient Return On Assets (ROA) is -68.117, which means Return On Assets (ROA) has a negative direction on stock prices.The regression coefficient value indicates that for every 1 unit decrease in Return On Assets (ROA), the stock price will increase.While the significance level is smaller than the specified level of significance, namely 0.048 <α (0.05).This shows that Return On Assets has a negative direction but has a significant effect on the PT Minimum Three Words Stock Price for the 2019 -2023 period.So, ROA partially has a significant effect on Share Prices In general, the higher the ROA value, the higher the level of profitability of the company.It is also a common sense that if a company is profitable, its share price will increase.On the other hand, the lower the ROA value, the lower the company's profitability, which will have an impact on stock prices.These results support the results of previous research conducted by Fariantin (2019) and Kartiko & Rachmi (2021) who in their research revealed that Return on Assets (ROA) has a significant effect on stock prices.c.Effect of Net Profit Margin (NPM) on the stock price of PT.Minimum Three Words The regression equation shows that the regression coefficient of the Net Profit Margin (NPM) is 208,031, which means that the Net Profit Margin (NPM) has a positive direction towards the stock price.The regression coefficient value indicates that for every 1 unit increase in Net Profit Margin (NPM), the share price will increase.While the significance level is smaller than the specified level of significance, namely 0.004 <α (0.05).This shows that the Net Profit Margin has a positive direction but has a significant effect on the PT Minimum Three Words Stock Price for the 2019 -2023 period.Thus, NPM partially has a significant effect on the Share Price.NPM only describes the company's ability to generate profits, but does not describe the company's development and prospects so that investors do not take NPM too seriously as an investment consideration.Net Profit Margin is a ratio used by companies to compare profits with the total money generated by the company.This NPM is also used to analyze the company's financial stability.These results support the results of previous research conducted by Wisnu (2023) which in his research revealed that Net Profit Margin (NPM) has a significant effect on stock prices.d.Effect of Return On Equity (ROE), Return On Assets (ROA) and Net Profit Margin (NPM) on the stock price of PT.Minimum Three Words Based on, the value of Fcount is 5,471 and Ftable is where Fcount > Ftable, so Return On Equity, Return On Assets and Net Profit Margin have a simultaneous effect on Stock Price as the dependent variable and a significance value of 0.012 is smaller than the predetermined significance level, which is equal to 0.05 or 5%, the independent variables together have a significant effect on the dependent variable.

Table 5 . Multiple Linear Regression Test Coefficients a
Based on the multiple linear regression equation, it can be described as follows: a.Effect of Return On Equity (ROE) on stock prices.The regression equation shows that the regression coefficient Return On Equity (X1) is 4,349, which means that Return On Equity has a positive direction on stock prices.The regression coefficient value indicates that for every increase in Return On Equity by 1 unit, the stock price will increase.NPM) has a positive direction towards the stock price.The regression coefficient value indicates that for every 1 unit increase in Net Profit Margin (NPM), the share price will increase.
for every 1 unit decrease in Return On Assets (ROA), the stock price will increase.c.Effect of Net Profit Margin (NPM) on Stock Prices.The regression equation shows that the regression coefficient of the Net Profit Margin (NPM) is 208,031, which means that the Net Profit Margin (a.Dependent Variable: Harga Saham Based on the test results in the table above, the effect of Return On Equity, Return On Assets and Net Profit Margin on Stock Prices can be explained as follows: 1.Return On Equity (X1)Based on the test results in the table above, it can be seen that the Return On Equity variable has a tcount of 3,003.While the significance level is greater than the specified level of significance, namely 0.560 > α (0.05).This shows that Return On Equity has a positive direction and has no effect on the PT Share Price for a Minimum of Three Words Period 2019 -2023.So, ROE partially has no effect on Share Prices.

Table 7 . F-Test Test Results ANOVA a
Based on Table6above, the value of Fcount is 5,471 and Ftable is as big as where Fcount > Ftable, so Return On Equity, Return On Assets and Net Profit Margin have a simultaneous effect on Stock Price as the dependent variable and a significance value of 0.012 is smaller than the significant level has been set at 0.05 or 5%, the independent variables together have a significant effect on the dependent variable.

Table 8 . Coefficient of Determination Model Summary b
From the table above it is known that the R Square value is 0.384 or 38.4%, namely the contribution of the variables ROA, ROE and NPM to stock prices while the remaining 61.6% is influenced by factors other than ROA, ROE and NPM.