Companies set aim in rising their firm’s value; as the higher firm’s value, the greater wealth for the shareholders who invest their capital onto the aforesaid company. Firm’s value is investors’ perception regarding company’s success rate related to the stock price, since a company’s stock market price portrays investors’ valuation on the entire owned equity. The higher stock price means the better firm’s value and shareholders’ wealth. In this paper, the effect of company’s capital structure, investment decision, profitability and growth on its business was studied. This research population was comprised of telecommunication companies registered in Indonesia Stock Exchange during period ranging from 2009 to 2018. The used samples were five (5) companies. Research data were secondary data collected from idx.co.id and ticmi.co.id by using data analysis technique of panel data regression analysis. Study outcome demonstrated that capital structure affected the firm’s value, meanwhile the company’s investment decision, liquidity, profitability and growth did not influence the firm’s value.