Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
KalrayFRA:3FS -5.45%60 Cash-to-Debt is 0.99 as of Dec. 2025, which is 51% below its 10-year median of 2.00. GuruFocus rates FRA:3FS with a GF Score™ of 60/100 and a GF Value™ of €3.58 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 1,022 Semiconductors companies, Kalray ranks worse than 61.25% on this metric.
Cash to Debt Ratio measures the financial strength of a company. It is calculated as a company's cash, cash equivalents, and marketable securities divide by its debt. Kalray's cash to debt ratio for the quarter that ended in Dec. 2025 was 0.99.
If Cash to Debt ratio is less than 1, the company cannot pay off its debt using the cash in hand. Here we can see, Kalraycouldn't pay off its debt using the cash in hand for the quarter that ended in Dec. 2025.
The historical rank and industry rank for Kalray's Cash-to-Debt or its related term are showing as below:
FRA:3FS'
s Cash-to-Debt Range Over the Past 10 Years
Min: 0.07 Med: 2 Max: 4.83
Current: 0.99
During the past 11 years, Kalray's highest Cash to Debt Ratio was 4.83. The lowest was 0.07. And the median was 2.00.
FRA:3FS's Cash-to-Debt is ranked worse than 61.25% of 1022
companies
in the Semiconductors industry
Industry Median: 1.65
vs FRA:3FS: 0.99
If Cash to Debt ratio is greater than 1, the company can pay off its debt using the cash in hand. If it is smaller than 1, it means the company has more debt than the cash in hands. In this case, it is important to look the the company's Interest Coverage. Ben Graham requires that a company must have an Interest Coverage of at least 5.
Kalray Cash-to-Debt Related Terms
Kalray Cash-to-Debt Historical Data
* Premium members only.
The historical data trend for Kalray's Cash-to-Debt can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Note: An indication of "No Debt" does not necessarily mean that the company has no debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
FRA:3FS vs NVDA, AVGO, MU: Cash-to-Debt Comparison
For the Semiconductors subindustry, Kalray's Cash-to-Debt, along with its competitors' market caps and Cash-to-Debt data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Kalray Cash-to-Debt vs Semiconductors Industry
For the Semiconductors industry and Technology sector, Kalray's Cash-to-Debt distribution charts can be found below:
* The bar in red indicates where Kalray's Cash-to-Debt falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Kalray (FRA:3FS) has a Cash-to-Debt of 0.99 as of Dec. 2025. This is 51% below median its historical median of 2.00. Over the past decade, Kalray's Cash-to-Debt has ranged from 0.07 to 4.83. According to the industry distribution chart, Kalray ranks #626 out of 1022 companies in the Semiconductors industry, placing it in the top 61.3%.
Is Kalray's Cash-to-Debt too high?
Kalray's current Cash-to-Debt of 0.99 is 51% below median its 10-year median of 2.00. Over the past 10 years, this metric has ranged from a low of 0.07 to a high of 4.83. The Semiconductors industry median Cash-to-Debt is 1.65. Kalray's value of 0.99 is 40% below this industry median. Based on the distribution chart, Kalray ranks #626 out of 1022 companies in the Semiconductors industry, which is below the industry midpoint. Overall, Kalray has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kalray's Cash-to-Debt compare to NVDA and AVGO?
According to the Semiconductors industry distribution chart, Kalray ranks #626 out of 1022 companies for Cash-to-Debt. This places Kalray in the lower half of its industry. The industry median Cash-to-Debt is 1.65. Kalray's value of 0.99 is 40% below this benchmark. Historically, Kalray's own Cash-to-Debt has ranged from 0.07 to 4.83 over the past decade. While the company's 10-year median is 2.00 vs. the industry median of 1.65, Kalray has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash-to-Debt for a Semiconductors company?
The median Cash-to-Debt among Semiconductors companies is 1.65, based on 1,022 companies in the industry. Companies in the top quartile (top 25%) have a Cash-to-Debt significantly above this median, while those in the bottom quartile fall well below. However, Cash-to-Debt should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Kalray's current Cash-to-Debt of 0.99 is 40% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash-to-Debt mean?
A high Cash-to-Debt can signal that a stock is expensive relative to its fundamentals. For the Semiconductors industry, the median Cash-to-Debt is 1.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kalray's current Cash-to-Debt is 0.99, which is 51% below median its own 10-year median of 2.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kalray stock overvalued right now?
Based on GuruFocus' analysis, Kalray (FRA:3FS) is currently considered Significantly Overvalued. The stock's GF Value™ is €3.58, compared to a current price of €5.72 — trading 59.8% above its estimated fair value. The current Cash-to-Debt is 0.99, which is 51% below median its 10-year median of 2.00 and 40% below the Semiconductors industry median of 1.65. Kalray's overall GF Score™ is 60/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash-to-Debt calculated?
Cash-to-Debt is calculated from a company's financial statements. For Kalray (FRA:3FS), the current Cash-to-Debt is 0.99 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Kalray (FRA:3FS) Overvalued in 2026?
Based on GuruFocus' analysis, Kalray stock appears to be overvalued.
The current stock price of €5.72 is trading 59.8% above its estimated GF Value™ of €3.58.
GuruFocus considers Kalray to be Significantly Overvalued.
Key valuation signals for FRA:3FS:
Cash-to-Debt: 0.99 (51% below median its 10-year median of 2.00)
GF Value™: €3.58 vs. price of €5.72 (59.8% above fair value)
Industry Position: 40% below the Semiconductors median (#626 of 1022)
No single metric tells the full story. See the FRA:3FS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kalray SA is engaged in developing large-scale core processor solutions that offer high performance, low power consumption and real-time processing. Its MPPA processor family, based on its patented supercomputing on a chip many-core technology, delivers differentiated solutions for server acceleration and data center optimization, as well as for critical embedded applications in aerospace, defense and automotive.
60GF Score
Get the complete analysis for FRA:3FS
Cash-to-Debt is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:3FS has been successfully added to your 
