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ASXASX:ASX +2.62%80 Debt-to-Equity is 0.12 as of Dec. 2025, which is 500% above its 10-year median of 0.02. GuruFocus rates ASX:ASX with a GF Score™ of 80/100 and a GF Value™ of A$75.86 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 610 Capital Markets companies, ASX ranks better than 69.51% 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 ASX's Debt-to-Equity or its related term are showing as below:
ASX:ASX'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02 Med: 0.02 Max: 0.12
Current: 0.12
During the past 13 years, the highest Debt-to-Equity Ratio of ASX was 0.12. The lowest was 0.02. And the median was 0.02.
ASX:ASX's Debt-to-Equity is ranked better than 69.51% of 610
companies
in the Capital Markets industry
Industry Median: 0.31
vs ASX:ASX: 0.12
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.
ASX Debt-to-Equity Related Terms
ASX Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for ASX'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:ASX vs SPGI, CME, MCO: Debt-to-Equity Comparison
For the Financial Data & Stock Exchanges subindustry, ASX'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.
ASX Debt-to-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ASX's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where ASX'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.
ASX (ASX:ASX) has a Debt-to-Equity of 0.12 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ASX and its competitors. This is 500% above median its historical median of 0.02. Over the past decade, ASX's Debt-to-Equity has ranged from 0.02 to 0.12. According to the industry distribution chart, ASX ranks #186 out of 610 companies in the Capital Markets industry, placing it in the top 30.5%.
Is ASX's Debt-to-Equity too high?
ASX's current Debt-to-Equity of 0.12 is 500% above median its 10-year median of 0.02. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.12. The Capital Markets industry median Debt-to-Equity is 0.31. ASX's value of 0.12 is 61.3% below this industry median. Based on the distribution chart, ASX ranks #186 out of 610 companies in the Capital Markets industry, which is above the industry midpoint. Overall, ASX has a GF Score™ of 80/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ASX's Debt-to-Equity compare to SPGI and CME?
According to the Capital Markets industry distribution chart, ASX ranks #186 out of 610 companies for Debt-to-Equity. This puts ASX in the upper half of its industry. The industry median Debt-to-Equity is 0.31. ASX's value of 0.12 is 61.3% below this benchmark. Historically, ASX's own Debt-to-Equity has ranged from 0.02 to 0.12 over the past decade. While the company's 10-year median is 0.02 vs. the industry median of 0.31, ASX 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 610 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. ASX's current Debt-to-Equity of 0.12 is 61.3% 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 ASX 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. ASX's current Debt-to-Equity is 0.12, which is 500% above median its own 10-year median of 0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASX stock overvalued right now?
Based on GuruFocus' analysis, ASX (ASX:ASX) is currently considered Modestly Undervalued. The stock's GF Value™ is A$75.86, compared to a current price of A$55.27 — trading 27.1% below its estimated fair value. The current Debt-to-Equity is 0.12, which is 500% above median its 10-year median of 0.02 and 61.3% below the Capital Markets industry median of 0.31. ASX's overall GF Score™ is 80/100 with 5 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 ASX (ASX:ASX), the current Debt-to-Equity is 0.12 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 ASX (ASX:ASX) Overvalued in 2026?
Based on GuruFocus' analysis, ASX stock appears to be undervalued.
The current stock price of A$55.27 is trading 27.1% below its estimated GF Value™ of A$75.86.
GuruFocus considers ASX to be Modestly Undervalued.
Key valuation signals for ASX:ASX:
Debt-to-Equity: 0.12 (500% above median its 10-year median of 0.02)
GF Value™: A$75.86 vs. price of A$55.27 (27.1% below fair value)
Industry Position: 61.3% below the Capital Markets median (#186 of 610)
No single metric tells the full story. See the ASX:ASX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Australian Securities Exchange is a vertically integrated securities exchange business offering listing, data, trading, clearing, and settlement services across equities, debt, and derivatives. ASX benefits from various effective monopolies across its business and a disproportionately large listings business from Australia's outsize natural resources sector.
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