<![CDATA[This research examines the impact of profitability and capital structure on financial performance through company value, which is proxied using market prices and share prices. This research was conducted on 68 companies in the manufacturing sector for the period 2016-2022, using a purposive sampling method. Panel regression data is used for the analysis technique, using eviews. The findings in this research resulted, first, that ROE and DER have a significant effect on Tobins Q through Market Book Value Equity. These findings indicate that looking at book value can be a good option for investors in analyzing financial information which is directly proportional to the company's financial performance; second, while through the Price Earnings Ratio; Share prices are one of several market sentiment factors on financial performance. This research provides recommendations to potential investors regarding investment decisions, that when analyzing financial information about a company it is better to use Market Book Value Equity rather than Price Earnings Ratio as a mediator. This research is different from (Neukirchen et al., 2023) which is the main reference; In this research, the firm value variable was added as a mediating variable using the Price Earnings Ratio as a mediator.]]>
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