Abstract This research aimed to find out the effect of net profit margin and earning per share on stock price. This study employed secondary data from Indonesian Stock Exchange. The population of research was companies enlisted in Indonesian Stock Exchange. The sample used was food and beverage companies during 2008-2010 period. Technique of analyzing data used was a multiple linear regression analysis. The result showed that net profit margin affected positively insignificantly the stock price, while earning per share affected positively significantly the stock price. Simultaneously net profit margin and earning per share affected positively significantly the stock price. Keywords: net profit margin, earning per share, stock price.