This study aims to calculate the effect of profitability, investment decisions, leverage, and liquidity on firm value. The population in this study is property and real estate companies listed on the Indonesia Stock Exchange in 2018-2021. The theory used in this study is signal theory. The sample selection used purposive sampling technique and 28 companies were sampled with a total of 74 data. The data analysis method used is multiple linear regression analysis. The results of this study indicate that profitability, investment decisions, and leverage have a positive effect on firm value. Meanwhile, liquidity has no effect on firm value.