This study aims to determine the effect of the current ratio, debt-to-equity ratio, total assets turnover, return on assets and firm size on stock returns with dividend policy as a moderating variable. From 2016 to 2020, research was done on the companies listed on the Jakarta Islamic Index. Purposive sampling is the method of sampling that was used in this study. The Jakarta Islamic Index firm provided ten companies for the study's sample and 43 observational data.The data analysis techniques include panel data regression analysis and MRA using the EViews program tool. According to this study, the current ratio, the debt-to-equity ratio, and the return on assets all had a significant positive impact on stock returns. Firm size, on the other hand, significantly negatively impacted stock returns. Furthermore, the only factor that had no discernible effect on stock returns was Total Asset Turnover. The moderating variable of dividend policy can only moderate the current ratio and return on assets, which is the ensuing consequence.

Keywords : Current Ratio, Debt to Equity Ratio, Total Asset Turnover, Return on Asset,Firm Size, Stock Return, Dividend Policy and Jakarta Islamic Index.