<![CDATA[This study examines the determination of asset turnover on firm value with profitability as a mediating variable in property and real estate sector companies listed on the Indonesia Stock Exchange (IDX) for the period 2022–2024. Using a quantitative associative method with a sample of 71 companies (203 observations) selected through purposive sampling, data were analyzed using multiple linear regression, path analysis, and the Sobel test. The results show that: (1) asset turnover has a significant positive effect on profitability (ROA); (2) profitability does not significantly affect firm value (PBV); (3) asset turnover has a significant positive effect on firm value; and (4) profitability does not significantly mediate the effect of asset turnover on firm value. These findings suggest that operational efficiency directly shapes market valuation in the property sector, while the profitability channel does not serve as a significant intermediary. The study recommends that property companies prioritize asset utilization optimization as a core financial strategy, and that future research explore macroeconomic and non-financial variables to better account for the unexplained variance in firm value.]]>
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