Analisis Faktor – Faktor yang Mempengaruhi Profitabilitas pada Perusahaan Ritel yang Terdaftar di Bursa Efek Indonesia pada Tahun 2019- 2023

Abstract

This study investigates the latent implications of capital structure, firm scale, capital velocity, and liquidity on profitability among retail entities listed on the Indonesia Stock Exchange, utilizing purposive sampling. Findings denote that capital structure exerts a positive yet statistically negligible influence on profitability—resonating with pecking order theory, wherein internal financing supersedes external debt preferences. Firm size exhibits an inversely directed but insignificant association, suggesting that downsizing does not preclude profit amplification, while excessive leverage in large firms may attenuate returns. Capital turnover contributes positively to profit generation, reflecting operational dynamism. Liquidity, paradoxically, may undermine profitability when sustained through exorbitantly priced debt, diverting capital from productive deployment toward obligatory creditor settlements.