PENGARUH STRUKTUR MODAL, PERTUMBUHAN PERUSAHAAN, DAN UKURAN PERUSAHAAN TERHADAP PROFITABILITAS PADA SUB SEKTOR MAKANAN DAN MINUMAN DI BURSA EFEK INDONESIA Periode 2021-2023

The food and beverage sub-sector is one of the most important components of the manufacturing industry in Indonesia and continues to grow in line with increasing public consumption needs. However, rapid corporate growth is not always accompanied by a proportional increase in profitability, making it necessary to understand the internal factors that influence a company’s financial performance. This study aims to analyze the effect of capital structure, company growth, and firm size on profitability in manufacturing companies in the food and beverage sub-sector listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. This research employs a quantitative approach with a causal associative research design. Profitability is measured using Return on Equity (ROE), capital structure is measured by the Debt to Equity Ratio (DER) and Debt to Asset Ratio (DAR), company growth is measured through asset growth, and firm size is measured based on total assets. The sampling technique used is purposive sampling. Data were analyzed using descriptive statistical analysis, classical assumption tests, and multiple linear regression analysis.
The results indicate that capital structure has a negative and significant effect on profitability, company growth has no significant effect on profitability, and firm size has a positive and significant effect on profitability. These findings suggest that the management of financing structure and company scale plays an important role in improving financial performance. This study is expected to provide useful insights for company management and investors in making decisions within the food and beverage sub-sector.