Analisis Profitabilitas, Ukuran Perusahaan, dan Pertumbuhan Aset terhadap Klasifikasi Saham Multibagger pada Perusahaan di Bursa Efek Indonesia Tahun 2025
DOI:
https://doi.org/10.37481/jmeb.v6i3.2254Keywords:
Multibagger Stocks, Firm Size, Asset Growth, Profitability, Signaling TheoryAbstract
The rapid increase in retail investor participation and the emergence of multibagger stocks in the Indonesian capital market during 2025 have raised questions about which corporate fundamentals are most closely associated with exceptional stock performance. This study aims to examine whether profitability, firm size, and asset growth influence the likelihood of a company being classified as a multibagger stock. An explanatory quantitative approach was employed using secondary data from 394 companies listed on the Indonesia Stock Exchange (IDX), selected through purposive sampling. Companies were grouped into multibagger and non-multibagger categories based on their annual stock returns, and the data were analyzed using binary logistic regression. The results indicate that profitability, firm size, and asset growth jointly have a significant effect on multibagger stock classification. Partially, firm size has a significant negative effect, while asset growth has a significant positive effect. In contrast, profitability does not significantly affect the probability of a stock being classified as a multibagger. These findings suggest that the market places greater emphasis on future growth prospects reflected by smaller firm size and strong asset expansion than on current profitability. The study provides practical insights for investors in developing more objective stock-screening strategies based on fundamental indicators.
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