This study are empiric study to public firm on Jakarta Stock Exchange with tittle : Influence of Fundamental Factor (Dividend Payout Ratio and Net Profit Margin) To Price Earning Ratio (PER) on Manufacture Firm on Jakarta Stock Exchange”. The goal of this study is to know how far fundament factor (Dividend Payout Ratio and Net Profit Margin) influence to Price Earning Ratio. Population take from manufacture firm on Jakarta Stock Exchange in years 2002-2005. Sample take with criteria: the listed manufacture firm on 2002-2005, rised financial statement on 2002-2005, and payed dividend on 2002-2005. Sample on this study is 19 firms. On this study the writer take 3 hypothesis, are: there is significantly influence of dividend payout ratio and net profit margin to price earning ratio, there is partial influence of dividend payout ratio to price earning ratio, and there is partial influence of net profit margin to price earning ratio. The analysis tools is used to know variable influence to price earning ratio the writer using multi regression analysis, and to know influence all of independent variable to dependent variable is used T-test and T-test. With multi regression analysis can get: Y=10.816+0.077X1-33.652X2+e, from hipothesys test can get F-test > F-table (13.986>3.195), to hypothesis test variable dividend payout ratio get t-test > t-table (4.628>2.003), and to variable net profit margin get –t-test < -t-table (-2.335<-2.003). Base on this study know that dividend payout ratio and net profit margin influence to price earning ratio on manufacture firm. From partial regression know that dividend payout ratio and net profit margin influence to price earning ratio.