The article examines how debt levels impact the financial performance of listed companies in Kenya from 2002 to 2011. The study shows that higher debt levels lead to lower profits for these companies. However, the amount of debt they have doesn't affect their overall value. Other factors like tangible assets, sales growth, and company size also play a role in determining profitability. Interestingly, having more tangible assets seems to reduce profits. For small companies, sales growth and size are key factors in determining their value, while for larger companies, these factors don't have the same impact.