The Effect of Sales Growth and Capital Structure on Profitability in Automotive Sector Industrial Companies Listed on The Indonesia Stock Exchange for The Period 2021 – 2024

Rindu Panjaitan; Dompak Pasaribu; Wesly Andri Simanjuntak; Arthur Simanjuntak

doi:10.59890/ijma.v4i3.10

Authors

Rindu Panjaitan Methodist University of Indonesia
Dompak Pasaribu Methodist University of Indonesia
Wesly Andri Simanjuntak Methodist University of Indonesia
Arthur Simanjuntak Methodist University of Indonesia

DOI:

https://doi.org/10.59890/ijma.v4i3.10

Keywords:

Sales Growth, Capital Structure (DAR), Profitability (ROA)

Abstract

This study aims to examine and analyze the influence of Sales Growth and Capital Structure on the Profitability of automotive industry companies listed on the Indonesia Stock Exchange for the period spanning from 2021 to 2024. The research sample consists of 10 companies selected through the purposive sampling method from a total population of 13 companies operating within the automotive sector. The data collected were analyzed using multiple linear regression analysis with the aid of SPSS version 26 statistical software. The findings of this study reveal that Sales Growth exerts a positive and statistically significant influence on Profitability, as indicated by a significance value of 0.047 which falls below the threshold of 0.05, while Capital Structure as proxied by the Debt to Assets Ratio (DAR) demonstrates a positive yet statistically insignificant influence on Profitability, as reflected by a significance value of 0.748 which substantially exceeds the threshold of 0.05. When evaluated simultaneously, the two independent variables do not collectively exert a significant influence on Profitability, as evidenced by a significance value of 0.132 which exceeds the predetermined threshold of 0.05. The coefficient of determination (R²) indicates that Sales Growth and Capital Structure are jointly capable of explaining approximately 7.6% of the total variation observed in Profitability among the sampled automotive companies during the observation period, while the remaining 92.4% of the variation in Profitability is attributable to other factors that fall outside the scope of the current research model and were not incorporated as variables in this study.

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