<![CDATA[This study aims to analyze the effects of profitability, leverage, and firm size on firm value in Indonesian technology-sector companies listed on the Indonesia Stock Exchange (IDX) during the 2022–2025 tech winter period. The study employs a quantitative approach using panel data. From a population of 47 companies, 30 companies were selected through purposive sampling based on the criteria of consistent listing on the IDX during 2022–2025, no delisting, and the availability of audited annual financial statements as well as complete financial and market data during the observation period, resulting in 120 firm-year observations. Firm value is proxied by Price to Book Value (PBV), profitability by Return on Assets (ROA), leverage by Debt to Equity Ratio (DER), and firm size by the natural logarithm of total assets. The estimation employs a two-way fixed effects model with Cross-section SUR (PCSE). The results show that ROA has no significant effect on PBV, while DER and firm size have positive and significant effects on PBV. Simultaneously, profitability, leverage, and firm size have a significant effect on firm value. These findings indicate that leverage and firm size are factors that significantly affect firm value, whereas profitability does not show a significant effect during the observation period.]]>
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