The purpose of this research is to test the effect of business risk, company growth and capital structure of company value with profitability as intervening variable. Data analysis is manufacturing company on consumer goods industry sector listed on the Indonesia Stock Exchange during the period 2012-2016. The sample of this research using purposive sampling to get sample as many as twenty four company. Data analysis which using two stages regression analysis showed that a capital structure had positive and significant effect on profitability, profitability had positive and significant effect on company value, company growth had negative and significant effect on profitability, business risk had negative and significant effect on company value, business risk had positive but not significant effect on profitability, company growth and capital structure had positive but not significant effect on company value. Meanwhile the result of sobel test showed that profitability able to mediate the effect of company growth and capital structure on company value, but profitability unable to mediate the effect of business risk on the value of the company.