<![CDATA[This study aims to analyze the effect of operational profitability and asset growth on firm value and to examine the role of capital structure as a moderating variable. The research sample consists of 26 transportation and logistics companies listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period, with a total of 130 observations. The analytical methods employed are multiple linear regression and Moderated Regression Analysis (MRA). The results indicate that operational profitability and asset growth do not have a significant effect on firm value. The moderation analysis shows that capital structure moderates the relationship between operational profitability and firm value with a weakening effect, while it does not moderate the relationship between asset growth and firm value. Meanwhile, the simultaneous test results reveal that operational profitability and asset growth jointly have a significant effect on firm value. This study emphasizes that firm value is influenced by the combination of financial performance and an optimally managed capital structure.]]>
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