<![CDATA[This study examines the effect of Capital Expenditure (CAPEX), Firm Size, and Profitability (Net Profit Margin/NPM) on Firm Value measured by Price to Book Value (PBV) at PT Wijaya Karya Beton Tbk during the 2015–2025 period. The originality of this research lies in the simultaneous analysis of CAPEX, Firm Size, and NPM on firm value using recent company data over an eleven-year observation period. The objective of this study is to determine both the partial and simultaneous effects of these variables on firm value. This research employs a quantitative method with a causal associative approach. The analytical techniques include descriptive statistics, classical assumption tests, multiple linear regression analysis, hypothesis testing, correlation coefficient analysis, and coefficient of determination analysis. The empirical results indicate that CAPEX does not have a significant effect on PBV, while Firm Size and NPM have significant effects on PBV. Simultaneously, CAPEX, Firm Size, and NPM significantly influence firm value. Furthermore, the correlation coefficient of 0.951 indicates a very strong relationship between the independent and dependent variables. The adjusted R-square value of 0.863 shows that 86.3% of the variation in firm value can be explained by the variables examined. These findings imply that company management should focus on improving profitability and optimizing firm size to enhance firm value.]]>
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