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.
Aqua MetalsAQMS +2.97%21 Debt-to-Equity is 0.04 as of Mar. 2026, which is 78% below its 10-year median of 0.18. GuruFocus rates AQMS with a GF Score™ of 21/100. The stock has 3 warning signs investors should review. Among 213 Waste Management companies, Aqua Metals ranks better than 92.02% on this metric.
A high debt to equity ratio generally means that a company has been aggressive in financing its growth with debt. This can result in volatile earnings as a result of the additional interest expense.
The historical rank and industry rank for Aqua Metals's Debt-to-Equity or its related term are showing as below:
AQMS'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02 Med: 0.18 Max: 0.49
Current: 0.04
During the past 12 years, the highest Debt-to-Equity Ratio of Aqua Metals was 0.49. The lowest was 0.02. And the median was 0.18.
AQMS's Debt-to-Equity is ranked better than 92.02% of 213
companies
in the Waste Management industry
Industry Median: 0.62
vs AQMS: 0.04
Because a company can increase its ROE % by having more financial leverage, it is important to watch the leverage ratio when investing in high ROE % companies.
Aqua Metals Debt-to-Equity Related Terms
Aqua Metals Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Aqua Metals's Debt-to-Equity 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.
AQMS vs AWX, OCLN, CDTG: Debt-to-Equity Comparison
For the Waste Management subindustry, Aqua Metals's Debt-to-Equity, along with its competitors' market caps and Debt-to-Equity 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.
Aqua Metals Debt-to-Equity vs Waste Management Industry
For the Waste Management industry and Industrials sector, Aqua Metals's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Aqua Metals's Debt-to-Equity 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.
Aqua Metals (AQMS) has a Debt-to-Equity of 0.04 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Aqua Metals and its competitors. This is 78% below median its historical median of 0.18. Over the past decade, Aqua Metals' Debt-to-Equity has ranged from 0.02 to 0.49. According to the industry distribution chart, Aqua Metals ranks #17 out of 213 companies in the Waste Management industry, placing it in the top 8%.
Is Aqua Metals' Debt-to-Equity too high?
Aqua Metals' current Debt-to-Equity of 0.04 is 78% below median its 10-year median of 0.18. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.49. The Waste Management industry median Debt-to-Equity is 0.62. Aqua Metals' value of 0.04 is 93.5% below this industry median. Based on the distribution chart, Aqua Metals ranks #17 out of 213 companies in the Waste Management industry, which is in the top quartile — a strong position relative to peers. Overall, Aqua Metals has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Aqua Metals' Debt-to-Equity compare to AWX and OCLN?
According to the Waste Management industry distribution chart, Aqua Metals ranks #17 out of 213 companies for Debt-to-Equity. This places Aqua Metals in the top 8% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.62. Aqua Metals' value of 0.04 is 93.5% below this benchmark. Historically, Aqua Metals' own Debt-to-Equity has ranged from 0.02 to 0.49 over the past decade. While the company's 10-year median is 0.18 vs. the industry median of 0.62, Aqua Metals 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 Debt-to-Equity for a Waste Management company?
The median Debt-to-Equity among Waste Management companies is 0.62, based on 213 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-Equity significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Aqua Metals's current Debt-to-Equity of 0.04 is 93.5% 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 Debt-to-Equity mean?
A high Debt-to-Equity can signal that a stock is expensive relative to its fundamentals. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Aqua Metals and its competitors. For the Waste Management industry, the median Debt-to-Equity is 0.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aqua Metals's current Debt-to-Equity is 0.04, which is 78% below median its own 10-year median of 0.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aqua Metals stock overvalued right now?
Aqua Metals (AQMS) has a current Debt-to-Equity of 0.04. The current Debt-to-Equity is 0.04, which is 78% below median its 10-year median of 0.18 and 93.5% below the Waste Management industry median of 0.62. Aqua Metals' overall GF Score™ is 21/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-Equity calculated?
Debt-to-Equity is calculated from a company's financial statements. For Aqua Metals (AQMS), the current Debt-to-Equity is 0.04 as of Mar. 2026. 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.
Aqua Metals Inc is developing and seeking to commercialize proprietary recycling and refining technologies for the recovery of critical minerals and metals. Its patented and patent-pending AquaRefining process is an electro-hydrometallurgical method designed to recover high-purity materials from battery and other metal-bearing feedstocks using a closed-loop system powered by electricity. Its idea is to reduce CAPEX and OPEX costs, reduce emissions, hazardous waste, and reliance on conventional smelting and chemical-intensive refining processes. It has one operating segment: sustainable metals recycling. It focused on the development and commercialization of AquaRefining technology for the clean and efficient recovery of valuable metals from lead-acid and lithium-ion batteries.
21GF Score
Get the complete analysis for AQMS
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
AQMS has been successfully added to your 
