THE EFFECT OF NET PROFIT MARGIN (NPM), COST EFFICIENCY (BOPO) AND RETURN ON ASSETS (ROA) ON PRICE TO BOOK VALUE (PBV) IN MANUFACTURING COMPANIES LISTED ON THE INDONESIA STOCK EXCHANGE (IDX) FOR THE 2021-2025 PERIOD

Abstract

This study aims to analyze the effects of Net Profit Margin (NPM), Cost Efficiency (BOPO), and Return on Assets (ROA) on Price to Book Value (PBV) in manufacturing companies listed on the Indonesia Stock Exchange during the 2021–2025 period. This study employs a quantitative method with a associative approach. The sample was selected using a purposive sampling technique, resulting in eight companies with a total of 40 observations. The data were analyzed using IBM SPSS Statistics version 27. The results indicate that, partially, NPM has no significant effect on PBV, with a significance value of 0.167 > 0.05. BOPO also has no significant effect on PBV, with a significance value of 0.547 > 0.05. In contrast, ROA has a significant effect on PBV, with a significance value of 0.005 < 0.05. Simultaneously, NPM, BOPO, and ROA have a significant effect on PBV, with a significance value of 0.000 < 0.05.