<p><em>This study aims at testing profitability mediated the effect financial leverage and investment to stock return on manufacturing company listed in Indonesia Stock Exchange for 2010 – 2019. The research population comes from manufacturing industry with specific criteria. The research used saturated sampling technique and observed 430 secondary data. The data was analyzed using path analysis with LM Test, Chow Test, and Housman Test for regression panel data. The research shows increased profitability will be able to increase stock return. Leverage effects stock return significantly when mediated by profitability as well as direct effect. Leverage has significant effect on profitability. The nature mediation of profitability here is partial in between leverage and stock return. This research also finding increased investment will be able to escalate profitability, but will not be able to stock return. The nature mediation of profitability in relationship between investment and stock return is perfect mediaition.</em></p>