Analisis Pengaruh Faktor-Faktor Terhadap Nilai Intrinsik Perusahaan dengan Profitabilitas Sebagai Variabel Intermediate pada Perusahaan Sektor Properti yang Terdaftar di Bursa Eefek Indonesia

Abstract

A company's performance is reflected in its profitability, which ultimately determines its intrinsic value. The intrinsic value of a company represents its true value. Several factors that influence profitability include capital structure, liquidity, firm size, and inventory turnover. This study was conducted in two stages. The first stage examines the effects of capital structure, liquidity, firm size, and inventory turnover on profitability. The second stage analyzes the effects of capital structure, liquidity, firm size, inventory turnover, and profitability on intrinsic company value. The purpose of this study is to determine how these factors affect profitability, how these factors and profitability influence the intrinsic value, and whether profitability mediates the relationship between these factors and intrinsic value. The population consists of property sector companies Listed on the Indonesia Stock Exchange during the 2019-2024 period. From this population, 11 companies were selected as the sample. The statistical methods used include multiple linear regression analysis, coefficient of determination test, F-test, t-test, and Sobel test. The results show that capital st ucture has a negative and insignificant effect on profitability; liquidity and inventory turnover have a positive and significant effect on profitability; while firm size has a positive but insignificant effect. Capital structure, firm size, and profitability have a positive and significant effect on intrinsic company value, whereas liquidity and inventory turnover have a positive but insignificant effect. Profitability does not mediate the influence of capital structure and firm size on intrinsic company value, but it does mediate the influence of liquidity and invento,y turnover on intrinsic value.