Pengaruh Likuiditas dan Ativitas Terhadap Profitabilitas Perusahaan Subsektor Trnasportasi Yang Terdaftar di Bursa Efek Indonesia Periode 2019-2023

Abstract

This study aims to examine the effect of liquidity and activity on the profitability of transportation sector companies listed on the Indonesia Stock Exchange (IDX) during the 2019–2023 period. The study covers the period from the COVID-19 pandemic to the postpandemic economic recovery, which was characterized by changes in business conditions, fuel price fluctuations, and various government policies affecting the performance of the transportation industry. Liquidity was measured using the Quick Ratio (QR), activity was measured using Receivable Turnover (RTO), while profitability was measured using the Net Profit Margin (NPM). This research employed a quantitative approach using secondary data obtained from the annual financial statements of transportation companies listed on the Indonesia Stock Exchange. The sample was selected using a purposive sampling technique, and the data were analyzed using multiple linear regression, preceded by classical assumption tests, including normality, multicollinearity, heteroscedasticity, and autocorrelation tests, followed by the t-test, F-test, and coefficient of determination (R²). The results indicate that liquidity has a negative effect on profitability, suggesting that companies with poorly managed liquidity tend to experience a decline in their ability to generate profits. In contrast, company activity has a positive effect on profitability, indicating that greater efficiency in managing assets and accounts receivable enhances the company's ability to increase revenue and net profit. Simultaneously, liquidity and activity have a significant effect on the profitability of transportation sector companies. These findings highlight the importance of effective cash, accounts receivable, and asset management in supporting business sustainability amid external challenges. This study is expected to serve as a reference for corporate management, investors,and policymakers in formulating strategies to improve the financial performance of transportation sector companies in Indonesia.