This study evaluates the impact of financial leasing on the profitability of transport companies globally. Data were collected from 2008 to 2025 and analysed using a fixed-effects (FE) panel data model estimated via the Driscoll-Kraay method. The results demonstrate that financial leasing reduces ROE, as fixed payment obligations and financial costs arising from lease contracts exacerbate the burden of debt servicing. Interaction variables indicate that the magnitude of financial leasing's impact varies compared to the baseline sector. Notably, in the maritime transport sector, a positive and statistically significant interaction coefficient shows that the adverse impact of financial leasing is considerably mitigated and may even shift in a positive direction. This implies that, compared to the baseline sector, companies in this subsector possess a superior capacity to absorb financial leasing, owing to the nature of their long-term assets and more stable cash flows. Several policy implications are suggested, including the need for companies to exercise caution in their asset financing strategies via financial leasing, coupled with a comprehensive assessment of operational efficiency, projected cash flows, and financial risk tolerance.
