Article Sidebar

Download
Download Article

Main Article Content

Abstract

This study examines the impact of earnings per share (EPS) and price-to-earnings ratio (P/E ratio) on the stock price of PT Astra International Tbk during the 2020–2024 period. Addressing the research gap in post-pandemic valuation studies within Indonesia's automotive sector, this research employs a quantitative approach using quarterly secondary data obtained from official financial reports and stock market records. Classical assumption tests confirm that the regression model satisfies the criteria for normality, multicollinearity, heteroskedasticity, and autocorrelation, ensuring the robustness of the analysis. The results demonstrate that both EPS and PER have a positive and significant impact on stock prices, indicating that profitability and valuation measures are critical determinants of market value. These findings underscore the importance of fundamental analysis in informing investment decisions and provide empirical evidence for investors and financial analysts seeking to assess corporate performance in emerging markets.

Keywords

Earnings Per Share Price To Earnings Ratio Stock Price Fundamental Analysis Investment Decision

Article Details

Creative Commons License

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

How to Cite
Vidada, I. A., Saridawati, S., Aliudin, R. M. T., Suprianto, A., & Sabariah, E. (2025). Influence of Earnings per Share and Price to Earnings Ratio on Stock Price: A Study on PT. Astra International Tbk in 2020–2024 Period. Golden Ratio of Data in Summary, 6(1), 161–173. https://doi.org/10.52970/grdis.v6i1.1720
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX

References

  1. Al Barohin, F., & Nasution, R. (2023). Pengaruh EPS, PER, dan DER terhadap harga saham pada perusahaan subsektor bank periode 2017–2021. Jurnal Bisnis Net, 6(2), 617–628. https://jurnal.dharmawangsa.ac.id/index.php/bisnet/article/view/3610
  2. Băşri, B., et al. (2025). How price-earnings ratio shapes cross-sector stock valuation: Evidence from the Indonesia Stock Exchange. Jurnal Akuntansi & Keuangan, 11(1), 1–14. https://jurnal.feb.unila.ac.id/index.php/jak/article/view/3542
  3. Brigham, E. F., & Houston, J. F. (2019). Fundamentals of financial management (15th ed.). Cengage Learning.
  4. Damodaran, A. (2012). Investment valuation: Tools and techniques for determining the value of any asset (3rd ed.). John Wiley & Sons.
  5. Fama, E. F. (1970). Efficient capital markets: A review of theory and empirical work. Journal of Finance, 25(2), 383–417. https://doi.org/10.2307/2325486
  6. Ghozali, I. (2018). Aplikasi analisis multivariate dengan program IBM SPSS 25. Badan Penerbit Universitas Diponegoro.
  7. Guo, R. (2022). Earnings extrapolation and predictable stock returns. Finance Papers, 12(4), 45–63. https://fnce.wharton.upenn.edu/wp-content/uploads/2022/07/Paper4_Guo.pdf
  8. Halim, A. (2015). Analisis investasi pada aset keuangan (1st ed.). Mitra Wacana Media.
  9. Hartono, J. (2015). Teori portofolio dan analisis investasi (10th ed.). BPFE.
  10. Juliani, M. (2023). Analisis faktor-faktor yang mempengaruhi volatilitas harga saham pada perusahaan non-keuangan di Bursa Efek Indonesia. Journal of Global Financial Accounting, 4(1), 37–48. https://journal.uib.ac.id/index.php/gfa/article/view/6004
  11. Mayjesti, A., Pali, E., & Marampa, A. M. (2023). Pengaruh return on asset dan earning per share terhadap harga saham pada perusahaan sektor industri barang konsumsi yang terdaftar di Bursa Efek Indonesia. Jurnal Rimba: Riset Ilmu Manajemen Bisnis dan Akuntansi, 1(3), 307–316. https://doi.org/10.61132/rimba.v1i3.623
  12. Puspitasari, N., Soleh, A., & Abi, Y. I. (2024). The effect of NPM, ROA, ROE, EPS, and PER on the stock price of LQ45 companies listed on the Indonesia Stock Exchange (2021–2023). Jurnal Manajemen & Bisnis, 15(4), 456-470. https://www.researchgate.net/publication/388635441
  13. Saadah, C., Mukhlis, I., & Nugroho, A. (2024). Menelusuri jejak inflasi dengan volatilitas saham ASII periode 2004–2023: Strategi investasi cerdas di PT Astra International Tbk. Jurnal Ekonomi, Bisnis dan Pendidikan, 4(9). https://doi.org/10.17977/um066.v4.i9.2024.2
  14. Santoso, S. (2019). Menguasai statistik multivariat. PT Elex Media Komputindo.
  15. Sari, D. E. K., & Muslih, M. (2022). Pengaruh opini audit, laba perusahaan, dan ukuran perusahaan terhadap harga saham pada perusahaan properti dan real estate yang terdaftar di Bursa Efek Indonesia. Jurnal Kewirausahaan, Akuntansi, dan Manajemen TRI BISNIS, 4(1), 68–86. https://ejurnal.stietribhakti.ac.id/index.php/TRIBISNIS/article/view/150
  16. Stockbit. (2025). PT Astra International Tbk (ASII) – Data historis & laporan keuangan. https://stockbit.com/symbol/ASII/financials
  17. Sulistiani, A., & Ryanto, F. R. (2024). The Influence of Intellectual Capital, Market Value, and Earnings Per Share on Stock Returns in the Financial Sector. Inovasi: Jurnal Ekonomi, Keuangan dan Manajemen, 20(3), 511-519. https://e-journals2.unmul.ac.id/index.php/INOVASI/article/download/1800/672/6387
  18. Tarmizi, M., Hady, H., & Lusiana. (2022). Faktor internal dan eksternal terhadap harga saham dengan earning per share sebagai variabel intervening. Journal of Business and Economics (JBE) UPI YPTK, 7(3), 409–415. https://doi.org/10.35134/jbeupiyptk.v7i3.193
  19. Taubah, I. D. (2024). The influence of earnings per share (EPS) and price-earnings ratio (PER) on stock prices of manufacturing companies. Jurnal Ekonomi & Manajemen, 9(2), 150-163. https://journal.lemlit.org/index.php/jeme/article/download/94/139
  20. Vidada, I. A., Saridawati, E., Dwi, R., & Rini, R. S. (2023). Strategi pintar dalam pemilihan saham potensial berbasis fundamental memanfaatkan stock screener di aplikasi Stockbit. Jurnal Online Bisnis dan Sistem Informasi (JOBS), 4(2), 261–272. https://academicjournal.yarsi.ac.id/index.php/jobs/article/view/3975
  21. Yahoo Finance. (n.d.). PT Astra International Tbk (ASII.JK) historical data. Retrieved August 17, 2025, from https://finance.yahoo.com/quote/ASII.JK/history

Similar Articles

<< < 4 5 6 7 8 9 10 11 12 13 > >> 

You may also start an advanced similarity search for this article.