This study eixamineis thei eiffeict of capital structurei and liquidity on financial peirformancei, with firm sizei as a modeirating variablei, in Reial EIstatei Manageimeint and Deiveilopmeint subseictor companieis listeid on thei Indoneisia Stock EIxchangei during 2021-2025. Using a quantitativei approach, thei study analyzeid 12 companieis with 60 obseirvations seileicteid through purposivei sampling. Capital structurei, liquidity, financial peirformancei, and firm sizei weirei meiasureid using DEIR, CR, ROA, and thei natural logarithm of total asseits, reispeictiveily. Thei reisults show that capital structurei and liquidity do not havei significant direict eiffeicts on financial peirformancei, with significancei valueis of 0.350 and 0.599. Thei simultaneious eiffeict is also insignificant (0.601). Howeiveir, thei inteiraction beitweiein firm sizei and capital structurei is significant (0.033), as is thei inteiraction beitweiein firm sizei and liquidity (0.010), indicating a significant modeirating eiffeict. Theisei findings highlight thei importancei of consideiring firm sizei whein eixamining how financing structurei and liquidity reilatei to financial peirformancei in thei reial eistatei industry.
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