The Effect of Income and Total Assets on Return on Assets with Total Asset Turnover as an Intervening Variable at PT Permodalan Nasional Madani Kabanjahe Branch

Mega Eka Ningsih; Hedwigis Esti

doi:10.55927/ijis.v5i10.86

Authors

Mega Eka Ningsih Perbanas Institute
Hedwigis Esti Perbanas Institute

DOI:

https://doi.org/10.55927/ijis.v5i10.86

Keywords:

Revenue, Total Assets, Total Asset Turnover, Return on Assets, Intervening Variable.

Abstract

This study aims to analyze the effect of revenue and total assets on Return on Assets (ROA) through Total Asset Turnover (TATO) as an intervening variable at PT Permodalan Nasional Madani (PNM) Kabanjahe Branch. This study is motivated by the phenomenon of increasing revenue and total assets during the 2022–2025 period, which was not followed by an improvement in asset utilization efficiency and company profitability. Revenue increased from IDR 178.765 billion in 2022 to IDR 260.329 billion in 2025, while total assets increased from IDR 57.361 billion to IDR 412.354 billion. During the same period, TATO decreased from 3.12 times to 0.63 times, while ROA decreased from 133% to 29%. This condition indicates a gap between the growth of assets and revenue and the effectiveness of asset utilization and company profitability. This study employs a quantitative approach using causal or explanatory research. The data consist of secondary data obtained from the financial statements of PT PNM Kabanjahe Branch for the period from January 2022 to December 2025. The research sample consists of 48 monthly financial statement observations selected using a saturated sampling technique. Data analysis is conducted using IBM SPSS Statistics through descriptive statistics, classical assumption tests, path analysis, hypothesis testing, and mediation analysis using the Sobel Test and Hayes Process Macro. This study is expected to provide empirical evidence regarding the direct and indirect effects of revenue and total assets on ROA through TATO as an intervening variable, as well as contribute to the development of financial management studies and the evaluation of asset management effectiveness at PT PNM Kabanjahe Branch

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