This study aims to analyze the effect of fundamental factors and sustainability reporting on firm value. This study also investigates the moderation effect of corporate governance on the relationship of fundamental factors, sustainability reporting, and firm value. Design/methodology/approach: The population is all companies listed in Indonesia Stock Exchange and indexed in IDX30 throughout 2014-2020. The data are obtained from financial statements, annual reports, and sustainability reports. The analysis method used in this study is panel data regression analysis. Findings: This study shows that profitability and leverage as fundamental factors affect the firm value. This study also found that good corporate governance moderates the effect of the fundamental factors on firm value. However, the sustainability reporting cannot increase the firm value. Research implications: These results verify agency and signaling theories but do not support legitimacy and stakeholder theories. Practical implications: These results confirm that fundamental factors are still the investors' primary concerns about making investment decisions. Originality/value: The novelty of this study lies in highlighting corporate governance as a moderation variable in the relationship of fundamental factors, sustainability reporting, and firm value, which has still not been concluded yet.