This study aims to determine the ef ect of COVID-19, capital structure, and stockprice on firm value. Research object is property and real estate companies listed ontheIndonesia Stock Exchange (IDX) period 3 years from 2018 to 2021. Population inthis study as many as 33 companies with 15 companies as sample using purposive samplingmethod. The analysis of this research employs descriptive statistics and panel dataregression. The results of this study indicate that the COVID-19 does have impact onthefirm value. Stock price have positive impact on the firm value. While capital structurevariables do not have impact on the firm value. Keywords: Firm Value, COVID-19, Capital Structure, Stock Price