Pengaruh Struktur Modal, Pertumbuhan Penjualan, Free Cash Flow, dan Likuiditas terhadap Profitabilitas pada Perusahaan Sub Sektor Batu Bara yang Terdaftar di Bursa Efek Indonesia

Abstract

This study aims to analyze the effect of capital structure, free cash flow, and liquidity on profitability in coal sub-sector companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2023 period. This study uses a quantitative approach with an associative approach. Data were obtained from the financial statements of 19 coal sub-sector companies for the 2020-2023 period, resulting in a total of 76 observations. Partially, the capital structure variable has no significant effect on profitability; sales growth has a positive and significant effect on profitability; free cash flow has a positive and significant effect on profitability; and liquidity has no significant effect on profitability. Simultaneously, all independent variables in this study have a significant effect on profitability in the coal sub-sector.