38 Pengaruh Debt to Equity Ratio, Current Ratio, Return on Asset, Total Asset Turnover, dan Perubahan Arus Kas Operasi Terhadap Return Saham Ultima Accounting Vol 5. No.2. Desember 2013 PENGARUH DEBT TO EQUITY RATIO, CURRENT RATIO, RETURN ON ASSET, TOTAL ASSET TURNOVER, DAN PERUBAHAN ARUS KAS OPERASI TERHADAP RETURN SAHAM Juanita Putri Aison Universitas Multimedia Nusantara Rosita Suryaningsih Universitas Multimedia Nusantara rosita@umn.ac.id Abstract The objective of this research is to examine the effect of Debt to Equity Ratio (DER), Current Ratio (CR), Return On Asset (ROA), Total Asset Turnover (TAT), and Cash Flow from Operating (CFO) both partially and simultaneously towards share return. The objects of this study are manufacturin companies which were listed in Bursa Efek Indonesia in the period 2010-2012. The samples are 18 companies based on purposive sampling. The data used in this study are secondary data such as share prices and financial statements. The results of this study are (1) Debt to Equity Ratio (DER) partially has significant effect towards share return (2) Current Ratio (CR) partially has no significant effect towards share return (3) Return On Asset (ROA) partially has significant effect towards share return (4) Total Asset Turnover (TAT) partially has no significant effect towards share return (5) Cash Flow from Operating (CFO) partially has no significant effect towards share return (6) Debt to Equity Ratio (DER), Current Ratio (CR), Return On Asset (ROA), Total Asset Turnover (TAT), and Cash Flow from Operating (CFO) simultaneously have a significant effect towards share return. Keywords: Debt to Equity Ratio (DER), Current Ratio (CR), Return On Asset (ROA), Total Asset Turnover (TAT), Cash Flow from Operating (CFO), share return I. Pendahuluan Dalam era globalisasi ini, persaingan antar perusahaan sangat ketat. Hal ini dapat dilihat dari meningkatnya jumlah perusahaan yang terdaftar di Bursa Efek Indonesia.Untuk mengembangkan usahanya dan unggul dalam persaingan, perusahaan membutuhkan dana untuk mendorong kinerja operasional perusahaan. Sumber dana perusahaan dapat berasal dari internal maupun eksternal perusahaan. Sumber dana internal pada umumnya berasal dari retained earnings, sedangkan sumber dana eksternal dapat diperoleh dari pinjaman kredit atau penjualan saham di pasar modal.