This study aims to analyze the effect of profitability, liquidity, asset structure, and dividend policy on debt policy. This research is quantitative research with secondary data in the form of the company's annual financial statements. The population used in this study is the consumer goods industry sector companies listed on the Indonesia Stock Exchange from 2014-2020. The data collection technique used is purposive sampling, acquiring a sample of 56 observational data. The data analysis techniques used in this research are descriptive statistics, classical assumption tests, multiple regression analysis tests, and statistical hypothesis testing. The results of this study indicate that the variables of Profitability, Liquidity, Asset Structure, and Dividend Policy do not affect debt policy.