<![CDATA[Firm value represents market perception of a company's performance and future prospects as reflected in its stock market price. This research is driven by the movement of firm value, proxied by the Tobin’s Q ratio, within the primary consumer goods sector on the Indonesia Stock Exchange during the 2021–2024 period, which showed significant fluctuations and declines in market value throughout the period. The sampling technique employed was purposive sampling using specific criteria, yielding 19 companies as the research sample. The data analysis method used was the Moderated Regression Analysis (MRA) approach to test the relationship between the independent and dependent variables through a moderating variable. Empirical results demonstrate that managerial ownership and leverage have a positive and significant effect on firm value. Interaction testing reveals that profitability is unable to moderate the effect of managerial ownership on firm value. However, profitability significantly moderates and strengthens the effect of leverage on firm value, suggesting that management should optimize profitability and capital structure to enhance investor confidence and maximize sustainable firm value, as profit levels are a crucial consideration for investors when evaluating debt financing policies.]]>
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