This study aims to analyze the affect of dividend payout ratio, asset growth, and Debt to Equity Ratio as a moderation on corporate value. The independent variables used in this study are Dividend Payout Ratio (DPR), Total Asset Growth (TAG), and Debt to Equity Ratio (DER). The dependent variable used is the corporate value with the proxy Tobin's Q. The research sample is a manufacturing company of Consumer Goods Industry that is listed on the Indonesia Stock Exchange (IDX) with a research period of 2015-2018. Data was collected by purposive sampling method. The Data analysis method used is multiple linear regression method by performing statistical testing between variabels. The result of this study indicate that the t-test, Dividend policy (DPR) affect on corporate value. Asset growth (TAG) has no affect on corporate value. DER variable is a moderating variable that affects the relationship between the DPR and Corporate Value Debt to Equity Ratio (DER) affect on corporate value. DER strengthens DPR’s relationship with corporate value. DER variable as a moderating variable does not affect the relationship of AG with Corporate Value.