The purpose of this research was to determined the effect of Profitability, Liquidity, Company Size, Asset Structure, and Business Risk on Capital Structure. This research uses quantitative approach. The population of this research were all companies in the Food and Beverage Sub-Sector listed on the Indonesia Stock Exchange for the period 2016-2019. The sampling method used purposive sampling and obtained 17 Food and Beverage companies in a period of 4 years so that 68 observation samples were obtained. The data analysis technique used multiple linear regression analysis with the help of the SPSS application version 20. The results of this research indicate that: 1) Profitability, Liquidity, Company Size, Asset Structure, and Business Risk have a simultaneous effect on Capital Structure, 2) Profitability has a positive and significant effect on Capital Structure, 3) Liquidity has a negative and significant effect on Capital Structure , 4) Company size has a negative and significant effect on Capital Structure, 5) Asset Structure has a negative and insignificant effect on Capital Structure, and 6) Business Risk has a negative and significant effect on Capital Structure.