The capital market is an important component in the economic growth of a country. The stock price is an indicator that reflects the performance of a company. Analyzing a company's performance can be based on analysis of financial reports or financial ratios. This research aims to determine the influence of free cash flow, liquidity, profitability, and activity on stock prices of health sector companies on the Indonesia Stock Exchange during the 2019-2022 period simultaneously and partially.

This research uses quantitative research methods with causality research. The population used is health sector companies listed on the Indonesia Stock Exchange for the 2019-2022 period and the sampling technique used in this research is purposive sampling. This research uses descriptive statistical analysis test techniques, classical assumption tests, multiple linear regression analysis, t-test, f-test, and determinant coefficient test which can prove the research hypothesis assisted by SPSS 29 software.

The results of this research indicate simultaneously (f-test) that the four independent variables, namely free cash flow, liquidity as measured by the current ratio (CR), profitability as measured by return on equity (ROE), and activity as measured by total asset turnover (TATO) have a significant effect on stock prices. Partially (t-test) indicates that the current ratio has significant effects on stock prices, while the other variables free cash flow, return on equity, and total asset turnover have no significant effect on stock prices. An adjusted 𝑟! coefficient of 0.202 or 20% of share prices are influenced by free cash flow, CR, ROE, and TATO, while 80% are influenced by other factors that are not used as variables in this research.