Determinants of Financial Performance: A Case from Oil and Gas Companies listed in the Iraq Stock Exchange

The purpose of this study is to examine the influence of return on equity (ROE), return on assets (ROA), leverage ratio (DTE), working capital ratio (WCR), and gross profit ratio (GRPM) on the earnings per share (EPS) and market to book value ratio (MBV) of Iraqi oil and gas firms listed on the stock exchange from 2010 to 2021. The STATA analytical tool uses multiple regression analysis to analyze panel data. Before regression analysis, following a diagnostic test, data normality assumptions, autocorrelation, multicollinearity, and heteroscedastic were performed, along with autocorrelation, multicollinearity, and heteroscedastic. ROA, ROE, GRPM, and WCR positively and substantially influence EPS and MBV. In contrast, DTE has a positive and significant influence on EPS but a negative and significant influence on MBV, as determined using regression analysis. The research findings could facilitate understanding the significance of EPS and MBV for investors' investment decisions and the influence of EPS and MBV on the oil and gas industry. Understanding the various financial considerations in the oil and gas sector enables professionals to make sound choices. Practitioners and others with decision-making authority could also benefit from understanding the significance of ratios to boost their investment in company shares.