Abstract
This study aims to analyze the influence of firm size, green investment, and environmental performance on the profitability growth of energy sector companies listed on the Indonesia Stock Exchange during the 2020–2025 period. Profitability is proxied by Return on Assets (ROA); firm size is measured by total assets; green investment is represented by the environmental cost ratio; and environmental performance is proxied by the ratings from the Company Performance Rating Assessment Program in Environmental Management (PROPER). A quantitative approach is employed using secondary data obtained from company annual reports and sustainability reports. Purposive sampling was used, resulting in 72 observations. Data analysis was conducted using panel data regression with the aid of EViews 13 software. The results indicate that, individually, firm size has a significant negative effect on profitability, whereas green investment and environmental performance do not have a significant effect on profitability. Collectively, firm size, green investment, and environmental performance do not significantly influence profitability. These findings suggest that the profitability of energy sector companies is influenced not only by these three variables but also by other factors outside the scope of the research model. This study is expected to serve as a reference for companies, investors, and future researchers in understanding the factors affecting the profitability of energy sector companies.