This study aims to examine and analyze the effect of financial performance on firm value with capital structure as a mediating variable. The object of research is a food and beverage industry manufacturing company listed on the Indonesia Stock Exchange. Determination of the sample using purposive sampling technique is a sampling technique with certain considerations. The total population in this study was 26 companies. Data collection is done by means of a documentary in the form of financial report data with data analysis using moderated regression analysis (MRA). The results show that: first, liquidity has a positive effect on firm value. Second, profitability has a positive effect on firm value, Third, dividend policy has a positive effect on firm value. Fourth, the capital structure has a positive effect on the value of the company. Fifth, capital structure mediates the effect of liquidity on firm value. Sixth, capital structure mediates the effect of profitability on firm value. Seventh, capital structure mediates the effect of dividend policy on firm value