<![CDATA[Every business entity is established to maximize profit and increase firm value. Firm value reflects a company’s financial performance and can be evaluated through various financial indicators. This study aims to examine the effect of asset efficiency, profitability, and profit margin on firm value, with earnings performance as a moderating variable. The research sample consists of paper industry sub-sector companies listed on the Indonesia Stock Exchange (IDX) during 2012–2024. Data were analyzed using multiple linear regression and Moderated Regression Analysis (MRA). The results indicate that asset efficiency has no significant effect on firm value. In contrast, profitability and profit margin have positive and significant effects on firm value. Earnings performance strengthens the relationship between asset efficiency and firm value as well as between profitability and firm value. However, earnings performance weakens the relationship between profit margin and firm value. These findings provide insights for companies and investors in improving financial performance and making investment decisions.]]>
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