The fisheries sector is a strategic industry for both national and regional economic development in coastal regions that are rich in marine resources. Capture fishermen play a crucial role in supporting food security and regional economic growth in Serang Regency, which is predominantly coastal. Therefore, this research aimed to analyze the factors affecting the capacity and welfare of fishermen in Serang Regency. The analysis was conducted in eight subdistricts, namely, Pontang, Tanara, Tirtayasa, Kramatwatu, Bojonegara, Pulo Ampel, Anyer, and Cinangka, between November 2025 and January 2026. Purposive sampling was performed with the condition that the respondents were fishermen who had gone to sea for 1 year and who had used less than 5 GT of boats. The number of samples was 10 times the number of indicators (20), totaling 200 capture fishermen spread across the eight subdistricts in Serang Regency. Data analysis was performed using the structural equation modeling (SEM–LISREL) method. The results revealed that the factors affecting fishermen’s capacity were both internal and external, with direct and positive effects. Factors affecting fishermen’s welfare included external elements (X2), with significant direct and negative effects on welfare (Y2). Furthermore, fishermen’s capacity (Y1) significantly and positively affects welfare (Y2). The internal factors of fishermen (X1) also have a significant indirect and positive effect on the welfare of fishermen (Y2) through capacity (Y1).