<![CDATA[This study investigates whether capital structure, profitability, and liquidity affect firm value among consumer non-cyclicals companies listed on the Indonesia Stock Exchange from 2022 to 2024. Using purposive sampling, 58 companies were selected, yielding 97 valid observations after outlier removal. Multiple linear regression was run with IBM SPSS Statistics 27. The findings confirm that capital structure proxied by Debt to Equity Ratio (DER), profitability proxied by Return on Assets (ROA), and liquidity proxied by Current ratio (CR) each exert a positive and statistically significant effect on firm value as captured by Price to book value (PBV). These results align with signaling theory: companies that manage their finances well send credible positive signals to the market, which investors reward with higher valuations. In practice, companies are advised to maintain a well-balanced capital structure, generate consistent profits, and keep liquidity at adequate levels to sustain investor trust and maximize firm value.]]>
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