The Influence of Fundamental Analysis and Value Investing on Stock Price Growth at PT United Tractors Tbk for the 2015-2025 Period

Dini Agustin; Suryadi Marthadinata

doi:10.61536/escalate.v4i4.830

Authors

Dini Agustin Pamulang University
Suryadi Marthadinata Pamulang University

DOI:

https://doi.org/10.61536/escalate.v4i4.830

Keywords:

Debt to Equity Ratio, Earnings Per Share, Price Earnings Ratio, Price to Book Value, Stock Price Growth

Abstract

This study examines the partial and simultaneous associations of Debt to Equity Ratio (DER), Earnings Per Share (EPS), Price Earnings Ratio (PER), and Price to Book Value (PBV) with stock price growth at PT United Tractors Tbk during the 2015–2025 period. A quantitative approach was employed using secondary data from annual financial reports and stock prices, comprising 11 annual observations from a single company. The data were analyzed using multiple linear regression with IBM SPSS Statistics 26. The results show that DER has a negative and statistically significant association with stock price growth (β = −0.939, p = 0.048), while EPS (p = 0.069) and PER (p = 0.505) are not statistically significant. In contrast, PBV has a positive and statistically significant association with stock price growth (β = 49.014, p = 0.013). Simultaneously, the four predictors are statistically significant (F = 5.985, p = 0.027). The adjusted R² of 0.666 indicates that the model explains 66.6% of the variation in stock price growth, while the remaining 33.4% is not explained by the model. Given the limited number of observations and the single-company setting, these findings should be interpreted cautiously and do not establish causal relationships. The results highlight the individual statistical relevance of DER and PBV in explaining stock price growth during the study period.

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