This study aims to determine the effect of profitability on stock prices with capital structure as a moderating variable in manufacturing sub-sector companies for the 2019-2022 period. The population of this study is manufacturing sub-sector companies listed on the Indonesia Stock Exchange for the period 2019 to 2022, totaling 40 companies. Data collection was carried out by purposive sampling. The research data is included in the type of secondary data in the form of financial reports and annual reports during the period 2019-2021. The data was obtained from the Indonesia Stock Exchange website, namely the website www.idx.co.id. The data analysis method used in this study uses multiple linear regression with the help of the SPSS version 24 program. The results of this study indicate that the profitability variable has a positive effect on stock prices. Then the capital structure variable has no effect on stock prices. Furthermore, it was found that the capital structure variable could not moderate the effect of profitability on stock prices in manufacturing sub-sector companies listed on the IDX for the period 2019-2022