The main purpose of this study is to empirically analyze the influence of dividen payout ratio (DPR), return on equity (ROE), sizeand Investment Opportunity Set (IOS) to firm value with leverage as an intervening variable. The sampel of the study consisted of manufacturing companies which are listed on the Indonesian Stock Exchange period 2011-2014 and seleted based on the purposive sampling. The data used in this research in secondary data, the sample consisted of 66 manufacturing company. Analysis of testing data in this research using a classic assumption test and hypothesis testing using the method of multipleregression. The results proved that the DPR, ROE, sizedoesnot significant to firm value, Investment Opportunity Set (IOS) are positive and significant to firm value, leverage are negative significantto firm value. The DPR is positive significantfirm value with leverage as intervening variable. The ROE, size, and Investment Opportunity Set (IOS) does not significant to firm value with leverage as intervening variable.