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.
ASF GroupASX:AFA Debt-to-Equity is 0.17 as of Dec. 2025, which is 78% below its 10-year median of 0.76. The stock has 7 warning signs investors should review. Among 609 Capital Markets companies, ASF Group ranks better than 61.9% 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 ASF Group's Debt-to-Equity or its related term are showing as below:
ASX:AFA'
s Debt-to-Equity Range Over the Past 10 Years
Min: -19.8 Med: 0.76 Max: 19.59
Current: 0.17
During the past 13 years, the highest Debt-to-Equity Ratio of ASF Group was 19.59. The lowest was -19.80. And the median was 0.76.
ASX:AFA's Debt-to-Equity is ranked better than 61.9% of 609
companies
in the Capital Markets industry
Industry Median: 0.31
vs ASX:AFA: 0.17
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.
ASF Group Debt-to-Equity Related Terms
ASF Group Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for ASF Group'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.
ASX:AFA vs MS, GS, SCHW: Debt-to-Equity Comparison
For the Capital Markets subindustry, ASF Group'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.
ASF Group Debt-to-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ASF Group's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where ASF Group'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.
ASF Group (ASX:AFA) has a Debt-to-Equity of 0.17 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ASF Group and its competitors. This is 78% below median its historical median of 0.76. According to the industry distribution chart, ASF Group ranks #232 out of 609 companies in the Capital Markets industry, placing it in the top 38.1%.
Is ASF Group's Debt-to-Equity too high?
ASF Group's current Debt-to-Equity of 0.17 is 78% below median its 10-year median of 0.76. The Capital Markets industry median Debt-to-Equity is 0.31. ASF Group's value of 0.17 is 45.2% below this industry median. Based on the distribution chart, ASF Group ranks #232 out of 609 companies in the Capital Markets industry, which is above the industry midpoint.
How does ASF Group's Debt-to-Equity compare to MS and GS?
According to the Capital Markets industry distribution chart, ASF Group ranks #232 out of 609 companies for Debt-to-Equity. This puts ASF Group in the upper half of its industry. The industry median Debt-to-Equity is 0.31. ASF Group's value of 0.17 is 45.2% below this benchmark. While the company's 10-year median is 0.76 vs. the industry median of 0.31, ASF Group 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 Capital Markets company?
The median Debt-to-Equity among Capital Markets companies is 0.31, based on 609 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. ASF Group's current Debt-to-Equity of 0.17 is 45.2% 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 ASF Group and its competitors. For the Capital Markets industry, the median Debt-to-Equity is 0.31 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASF Group's current Debt-to-Equity is 0.17, which is 78% below median its own 10-year median of 0.76. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASF Group stock overvalued right now?
Based on GuruFocus' analysis, ASF Group (ASX:AFA) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.02, compared to a current price of A$0.07 — trading 250% above its estimated fair value. The current Debt-to-Equity is 0.17, which is 78% below median its 10-year median of 0.76 and 45.2% below the Capital Markets industry median of 0.31. 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 ASF Group (ASX:AFA), the current Debt-to-Equity is 0.17 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.
ASF Group Ltd is a diversified investment company with an international outlook and a focus on the real estate, resources, technology and financial sectors. The entity operates in only one segment, being an investment and trading house.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:AFA has been successfully added to your 
