This study aims to examine and analyze the effect of leverage, profitability, free cash flow, and company size on the level of earnings management in consumer goods industry sector companies listed on the Indonesia Stock Exchange for the 2019-2021 period with a population of 51 companies. The data in this study were obtained from the company's annual report. The data collection method in this study used a purposive sampling technique, in order to obtain 33 companies that fit the criteria. The data analysis technique used in this research is descriptive statistical analysis, classical assumption test, multiple regression analysis, model fit test, and t test. The results of this study indicate that partially leverage has no significant effect on earnings management, profitability, free cash flow and firm size have a significant effect on earnings management.