This study aims to examine the effect of profitability, asset structure, liquidity, sales growth, and firm size on capital structure. The population in this study are property and real estate companies listed on the Indonesia Stock Exchange. The sampling method used purposive sampling so as to produce 162 samples from 45 companies during the 2017-2020 period. Methods of data analysis using multiple regression analysis. Based on the results of the study indicate that (1) profitability has a negative effect on capital structure, (2) asset structure has a negative effect on capital structure, (3) liquidity has a negative effect on capital structure, (4) sales growth has no effect on capital structure, and (5 ) firm size has a positive effect on capital structure.