PENGARUH PERTUMBUHAN PERUSAHAAN, DEBT RATIO, DAN LONG TERM DEBT RATIO TERHADAPNET OPERATING PROFITABILITY DAN RETURN ON ASSETS (STUDI PADA INDUSTRI ENERGY TAHUN 2015-2024 YANG TERCATAT DI BURSA EFEK INDONESIA)

Abstrak

This study aims to analyze the influence of company growth and capital structure on the performance of energy sector companies in Indonesia. Independent variables consist of Assets Growth as an indicator of company growth and Debt Ratio and Long-Term Debt Ratio as indicators of capital structure. The company's performance is measured using Net Operating Profitability (NOP) and Return on Assets (ROA). The research population includes 89 energy sector companies listed on the IDX in the period 2015–2024, with 11 companies selected as samples through the purposive sampling method. Secondary data were processed using panel analysis with the help of Eviews 13. The results of the study show that the Long-Term Debt Ratio has a significant negative effect on ROA and NOP, while the Debt Ratio has a positive but insignificant effect on both performance indicators. Meanwhile, Asset Growth has a significant positive effect on ROA and NOP. These findings confirm that asset growth is a key factor driving increased profitability, while the use of debt especially long-term tends to depress the financial performance of energy sector companies in Indonesia.

Kata kunci

• Company Growth
• Company Performance
• capital structure