Profitability is an important embodiment of the financial competitiveness and operating performance of enterprises, and the capital structure affects the profitability of enterprises by affecting the solvency and operating ability of enterprises. The optimization of capital structure is the key way to improve the profitability of enterprises. China's sports industry, as an emerging industry, has shown a rapid growth momentum. The total output value of the sports industry has exceeded 3 trillion yuan in 2021, which will play an increasingly important role in promoting economic development. Studying the correlation between the capital structure and profitability of sports enterprises is of great significance to the development of the sports industry. This paper selects 10 A-share listed sports enterprises in China from 2017 to 2021 as the research object, and establishes regression model to empirically analyze the impact of asset structure of sports listed companies on profitability based on the analysis of the financial status of sports listed companies. The research results show that the proportion of current assets, fixed assets and inventory of sports industry listed companies is not significantly related to profitability, while the proportion of monetary capital is positively related to profitability, and the growth rate of total assets also has a positive role in promoting the improvement of corporate profitability. The research results of this paper show that the stronger the liquidity of the assets of sports enterprises and the expansion of the asset scale have an obvious effect on the improvement of the profitability of enterprises, which provides a reference for Chinese sports enterprises to optimize the asset structure and improve the profitability.