This research was cpnucted to find out the effect of Leverage, investment opportunity set, and institusional ownership of company value with profitability as intervening variable. The objects of this research were manufacturing companies listed in Indonesia Stock Exchange during the period of 2010-2014. The sample in this study amounted to 259 enterprises selected by using purposive sampling method. The result show that leverage has no significant positive effect for the of company value, investment opportunity set has significant positive effect for the of company value, institusional ownership has no significant negatif effect for the of company value, leverage has no significant negative effect for the profitability, investment opportunity set has significant positive effect for the profitability, institusional ownership has significant positive effect for the profitability and profitability has no significant positive effect for the company value.