This research aims to obtain the empirical evidence about inflation effect, interest rates, exchange rates, price to earnings ratio (PER) and return on equity (ROE) about Stock Price of Manufacturing Companies in Pulp and Paper Sub-Sector on Indonesia Stock Exchange (IDX). This research uses time series data, that is data from 2017 to 2019. The results of this research indicate that the price to earnings ratio (PER) variables, and return on equity (ROE) variables partially influence stock price of manufacturing companies in Pulp and Paper sub-sector on Indonesia Stock Exchange. Whereas the inflation variables, interest rates and exchange rate has no partial effect on stock price of manufacturing companies in Pulp and Paper sub-sector on Indonesia Stock Exchange. Simultanesously, all variables namely inflation, interest rates, exchange rates, price to earnings ratio (PER) and return on equity (ROE) affect the stock price of manufacturing companies in Pulp and Paper sub-sector on Indonesia Stock Exchange. The implication of this research is the investors can consider about inflation, interest rates, exchange rates, price to earnings ratio (PER) and return on equity (ROE) in making decisions of stock investment in order to minimize all the risks and maximize the profits.