The Effect of Working Capital Turnover and Debt to Asset Ratio on Net Profit Margin at PT Siantar Top Tbk 2014-2023 period
Abstract
This study aims to determine the influence of Working Capital Turnover andDebt to Asset Ratioon Net Profit Margin, both partially and simultaneously. This study uses the financial statements of PT Siantar Top Tbk for the 2014-2023 period.The data used are the company's annual financial reports obtained from the Indonesia Stock Exchange, using quantitative methods through multiple linear regression analysis, t-test, F-test, and coefficient of determination.The results of the partial test (t-test) show that Working Capital Turnover has a sig. value of 0.420 > 0.05 and a calculated t value of 0.857 < t table 2.365, this means that partially Working Capital Turnover does not have a significant effect on Net Profit Margin.Debt to Asset Ratiohave valuesig. 0.020 < 0.05 and the calculated t value is -2.988 > t table 2.365, this means that partiallyDebt to Asset Ratiohas a significant negative effect on Net Profit Margin. The results of the simultaneous test (F test) have a sig. value of 0.001 < 0.05 and an F-value of 24.003 > F-table 4.737. Thus, it can be seen that simultaneously Working Capital Turnover andDebt to Asset Ratiohas a significant effect on Net Profit Margin. The coefficient of determination (R²) value of 0.873 indicates that 87.3% of the variation in Net Profit Margin can be explained by Working Capital Turnover andDebt to Asset Ratio, while the remaining 12.7% is influenced by other factors outside the model.The research results emphasize the importance of debt control and working capital turnover to maintain company profitabilityReferences
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