<![CDATA[General Background: Healthcare companies rely on financial performance and knowledge-based resources to sustain competitiveness and create firm value. Specific Background: Intellectual capital and profitability are important determinants of firm value, while firm size may influence how these factors relate to market valuation in Indonesia’s healthcare sector. Knowledge Gap: Previous studies have reported inconsistent findings regarding the relationships between intellectual capital, profitability, and firm value, particularly concerning the moderating role of firm size. Aims: This study examines the effects of intellectual capital and profitability on firm value and analyzes whether firm size moderates these relationships among healthcare companies listed on the Indonesia Stock Exchange during 2020–2024. Results: Using a quantitative approach, multiple regression analysis, and Moderated Regression Analysis (MRA), the study finds that intellectual capital has no significant effect on firm value, whereas profitability has a positive and significant effect. Novelty: The study extends previous research by integrating intellectual capital, profitability, and firm size into a moderated model focused on Indonesia’s healthcare sector. Implications: The findings highlight the relevance of profitability and firm size in understanding firm valuation and suggest that healthcare companies should optimize intellectual capital management and financial performance to support firm value. Key Findings Highlights Intellectual capital shows no significant relationship with firm value in the healthcare sector. Profitability has a positive and significant relationship with firm value. Firm size strengthens the profitability–firm value relationship but does not moderate the intellectual capital–firm value relationship. Keywords : Intellectual Capital, Profitability, Firm Size, Firm Value, Healthcare Companies]]>
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