The Relationship Between Financial Performance and Share Price of Energy Companies: BEI Case Study 2018-2022

Renil Septiano, Oktari Helia Putri, Fadel Vageno Shadam

Abstract


The study's goal is to look at how energy companies listed on the Indonesia Stock Exchange (IDX) fared financially and how their stock prices changed from 2018 to 2022. Academics are interested in the factors that affect the stock prices of energy businesses because of the recent market volatility in this sector. Seven companies listed on the IDX during the specified period were included in the sample, covering the entire population of such companies. Data was collected from the financial statements of these companies and analysed using EViews software. The analysis found no statistically significant relationship between the current ratio, the debt-to-equity ratio, the return on assets, or earnings per share and the share prices of energy sector businesses on the IDX throughout the study period. These results provide valuable insights for stakeholders, including energy sector investors and managers, in evaluating factors that influence stock prices and considering the potential influence of other factors in the market valuation of energy companies. Further research is needed to explore additional variables that may affect stock valuations in the energy sector and improve understanding of the sector's stock market dynamics.


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