Pengaruh Current Ratio dan Debt to Equity Ratio terhadap Return on Assets pada PT Blue Bird Tbk

he Effect of Current Ratio and Debt to Equity Ratio on Return on Assets at PT Blue Bird Tbk

Abstract

Return on Assets is one of the indicators used to assess a company’s ability to manage its resources and achieve its business objectives. This study aims to determine the effect of the Current Ratio and the Debt-to-Equity Ratio on Return on Assets at PT Blue Bird Tbk, both partially and simultaneously. This study employs a quantitative approach using secondary data obtained from PT Blue Bird Tbk’s financial statements for the period 2018–2025. The data analysis techniques used include classical assumption tests, multiple linear regression analysis, t-tests, F-tests, and the coefficient of determination (R²) using SPSS 27. The results show that the Current Ratio has a significant effect on Return on Assets with a significance value of 0.002, while the Debt-to-Equity Ratio also has a significant effect with a significance value of < 0.001. Simultaneously, the Current Ratio and Debt-to-Equity Ratio have a significant effect on Return on Assets with a significance value of < 0.001. The Adjusted R-Square value of 0.395 indicates that these two variables explain 39.5% of the variation, while the remaining 60.5% is influenced by other factors outside the scope of this study. The findings of this study indicate that liquidity management and a balanced capital structure are important factors in improving the efficiency of a company’s asset utilization. Therefore, management needs to optimize current assets and maintain debt at a healthy level to ensure the company’s profitability.