The Effect of Current Ratio, Total Asset Turnover, and Debt Asset Ratio on Return on Assets of Indonesian Food and Beverages Industry in 2019 - 2023

Authors

  • Adhila Suryaningsih Universitas Pembangunan Jaya
  • Zahra Ardya Rizwana Universitas Pembangunan Jaya
  • Anindya Najmina Nareswari Universitas Pembangunan Jaya

DOI:

https://doi.org/10.58812/wsaf.v3i03.2479

Keywords:

Return on Assets, Current Ratio, Total Asset Turnover, Debt to Asset Ratio, Food and Beverage Industry

Abstract

This study examines the effect of the Current Ratio (CR), Total Asset Turnover (TATO), and Debt to Asset Ratio (DAR) on Return on Assets (ROA) in the food and beverage subsector companies listed on the Indonesia Stock Exchange during 2019-2023. The study uses panel data from 15 companies. The Fixed Effect Model (FEM) regression analysis shows that, simultaneously, all three variables significantly affect ROA. However, only TATO and DAR have a significant partial effect, while CR does not. These findings highlight the importance of asset efficiency and capital structure management in improving company profitability.

References

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Published

2025-12-15

Issue

Vol. 3 No. 03 (2025): West Science Accounting and Finance

Section

Articles

License

Copyright (c) 2025 Adhila Suryaningsih, Zahra Ardya Rizwana, Anindya Najmina Nareswari

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This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

How to Cite

The Effect of Current Ratio, Total Asset Turnover, and Debt Asset Ratio on Return on Assets of Indonesian Food and Beverages Industry in 2019 - 2023 (A. Suryaningsih, Z. A. . Rizwana, & A. N. . Nareswari , Trans.). (2025). West Science Accounting and Finance, 3(03), 447-460. https://doi.org/10.58812/wsaf.v3i03.2479