<![CDATA[Firm value is an important indicator for investors in assessing a company’s financial condition and future prospects. This study aims to analyze the influence of capital structure, financial performance, and public ownership on firm value in state-owned enterprises listed on the Indonesia Stock Exchange for the 2021–2023 period. Multiple linear regression analysis is used in this quantitative study. The yearly financial reports of the companies provided the secondary data that was employed. A purposive sampling strategy based on specific criteria was used to determine the study sample, yielding 51 research observations. The results show that capital structure and financial performance have a positive and significant effect on firm value, indicating that efficient debt management and higher profitability can enhance investor perceptions and increase market value. In contrast, public ownership has a negative and significant effect on firm value, suggesting that a highly dispersed ownership structure may reduce monitoring effectiveness and negatively affect market perceptions. The implications of this study emphasize the importance of optimal capital structure management, sustainable financial performance improvement, and strategic share ownership structure to maintain and enhance long-term firm value.]]>
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