The study looked at how a company's mix of debt and equity, along with the industry it's in, affects its financial performance in Sri Lanka. They analyzed data from 51 companies in sectors like Land and Property, Plantation, and Beverage. The results showed that the way a company structures its debt influences its profitability and return on assets. Specifically, long-term debt and total debt ratios were key factors. The industry a company operates in also plays a significant role in its financial performance. This information is important for managers, investors, and future researchers to make better decisions about financing and investments.