<![CDATA[This study aims to examine and analyze the influence of macroeconomic factors (BI 7-Day Reverse Repo Rate, Consumer Price Index inflation rate, and Rupiah exchange rate against the US Dollar) on the value of companies proxied by Price to Book Value (PBV), with profitability (Return on Assets/ROA) as a moderation variable in the property and real estate sectors listed on the Indonesia Stock Exchange (IDX) during the 2019–2024 period. The research population included 65 property issuers, of which 10 companies were selected using the purposive sampling method with a total of 60 observation units. The analysis method used was a panel data regression of the Moderated Regression Analysis (MRA) approach with Random Effect Model (REM) estimation processed through the EViews 13 software. The results of the analysis showed that partially interest rates had a negative and significant effect on the company's value (β = -0.081972; p = 0.0336), while inflation (p = 0.4347) and exchange rate (p = 0.1313) had no significant effect. Simultaneously, macroeconomic factors and moderation interaction variables had a significant effect on the company's value (F = 4.093787; p = 0.001992) with a Adjusted R-Square contribution of 24.57%. The results of the moderation test proved that profitability (ROA) was not able to moderate the influence of interest rates (p = 0.1324), inflation (p = 0.5132), and exchange rates (p = 0.0803) on the value of the company. These findings confirm that market sensitivity to capital cost burdens due to changes in monetary interest rates dominates the valuation of property issuers, while internal profit capacity has not been able to be an effective protective cushion in mitigating systematic macroeconomic pressures.]]>
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