This study aims to examine the effect of capital structure, profitability and price earning ratio toward firm value with dividend policy as a moderating variable. The populations in this study were all manufacturing companies listed in the Indonesia Stock Exchange during 2015-2017, which were 144 companies. The selection of samples in this study was conducted by purposive sampling. Based on the criteria, 41 companies were used as samples. The analysis technique used in this study is multiple regression analysis. The result of this study showed that profitability and price earning ratio have a positive significant effect on the firm value but capital structure has a negative significant effect on the firm value. The results of this study also showed that dividend policy is able to moderate the effect of capital structure, profitability and price earning ratio on the firm value.