This study aims to examine the effect of capital structure (DER, DAR, EAR) and liquidity (Current Ratio) on company performance and stock prices at manufacturing companies listed in Indonesia stock exchange. Data analysis was conducted on manufacturing company listed in IDX 2012-2016. The sampling technique in this research was using purposive sampling method. The data analysis technique used was two-stage regression. DAR, partially has negative significant effect on company performance. DER partially has positive significant effect on stock price. DAR, EAR partially has negative significant effect on stock price. CR partially has negative isignificant effect on stock prices. Firm performance partially has positive significant effect on stock price. Meanwhile, the firm's performance variable can mediate the relationship between DER, DAR, CR towards stock prices, but firm performance cannot mediate the relationship between EAR towards stock prices.