The Effect of Working Capital Turnover, Company Size, Profitability, Leverage, And Liquidity on Firm Value (Empirical Study of Property and Real Estate Companies Listed on the Indonesia Stock Exchange for the 2021-2025 Period)
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Firm value is an important indicator of corporate performance and investor perceptions, particularly in the property and real estate sector, where financial decisions are influenced by various internal factors. However, the effects of working capital turnover, firm size, profitability, leverage, and liquidity on firm value may vary across companies and economic conditions. This study aimed to analyze the effects of these five factors on the firm value of property and real estate companies listed on the Indonesia Stock Exchange from 2021 to 2025. A quantitative research design was employed using secondary data obtained from companies’ annual financial reports. The population comprised all property and real estate companies listed on the exchange during the study period. Purposive sampling yielded 340 observations, which were subsequently subjected to outlier testing, resulting in a final dataset of 245 observations. The data were analyzed using multiple linear regression with the assistance of Statistical Product and Service Solutions (SPSS) version 26. The results indicated that working capital turnover, firm size, and leverage had statistically significant effects on firm value, whereas profitability and liquidity had no statistically significant effects. These findings highlight the importance of working capital management, company scale, and financing decisions in explaining firm value in the property and real estate sector. The study contributes to the understanding of the financial determinants of firm value and provides insights for corporate managers and investors in evaluating financial management strategies and investment decisions.
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