The Influence of Price to Book Value (PBV), Earning Per Share (EPS) and Net Profit Margin (NPM) on the Share Price of PT Bank Negara Indonesia (Persero) TBK for the Period 2016-2025

Abstract

This study examines the association of Price to Book Value (PBV), Earnings Per Share (EPS), and Net Profit Margin (NPM) with the stock price of PT Bank Negara Indonesia (Persero) Tbk during the 2016–2025 period. A quantitative associative approach was employed using secondary data from the company’s annual financial statements and year-end stock prices. The analysis covered ten annual observations and was conducted using SPSS version 23, including descriptive statistics, classical assumption tests, multiple linear regression, t-tests, an F-test, and the coefficient of determination. The reported results indicate that PBV is positively and significantly associated with stock price (t = 5.918, p = .001), as is EPS (t = 6.496, p = .001). NPM is reported to have a negative and statistically significant association with stock price (t = −6.000, p < .001). The overall regression model is statistically significant (F = 43.359, p < .001). The Adjusted R² of .934 indicates that the model explains 93.4% of the variation in stock price, while the remaining 6.6% is not explained by the variables included in the model. Given the limited number of annual observations, these results should be interpreted cautiously and do not establish causal relationships.