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CogstateASX:CGS -3.47%76 Debt-to-Equity is 0.01 as of Dec. 2025, which is 75% below its 10-year median of 0.04. GuruFocus rates ASX:CGS with a GF Score™ of 76/100 and a GF Value™ of A$2.12 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 556 Healthcare Providers & Services companies, Cogstate ranks better than 99.82% 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 Cogstate's Debt-to-Equity or its related term are showing as below:
ASX:CGS'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.01 Med: 0.04 Max: 0.32
Current: 0.01
During the past 13 years, the highest Debt-to-Equity Ratio of Cogstate was 0.32. The lowest was 0.01. And the median was 0.04.
ASX:CGS's Debt-to-Equity is ranked better than 99.82% of 556
companies
in the Healthcare Providers & Services industry
Industry Median: 0.4
vs ASX:CGS: 0.01
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.
Cogstate Debt-to-Equity Related Terms
Cogstate Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Cogstate'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:CGS vs VEEV, BTSG, TEM: Debt-to-Equity Comparison
For the Health Information Services subindustry, Cogstate'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.
Cogstate Debt-to-Equity vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Cogstate's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Cogstate'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.
Cogstate (ASX:CGS) has a Debt-to-Equity of 0.01 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Cogstate and its competitors. This is 75% below median its historical median of 0.04. Over the past decade, Cogstate's Debt-to-Equity has ranged from 0.01 to 0.32. According to the industry distribution chart, Cogstate ranks #1 out of 556 companies in the Healthcare Providers & Services industry, placing it in the top 0.2%.
Is Cogstate's Debt-to-Equity too high?
Cogstate's current Debt-to-Equity of 0.01 is 75% below median its 10-year median of 0.04. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 0.32. The Healthcare Providers & Services industry median Debt-to-Equity is 0.40. Cogstate's value of 0.01 is 97.5% below this industry median. Based on the distribution chart, Cogstate ranks #1 out of 556 companies in the Healthcare Providers & Services industry, which is in the top quartile — a strong position relative to peers. Overall, Cogstate has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cogstate's Debt-to-Equity compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Cogstate ranks #1 out of 556 companies for Debt-to-Equity. This places Cogstate in the top 0% of its industry — outperforming the majority of peers. The industry median Debt-to-Equity is 0.40. Cogstate's value of 0.01 is 97.5% below this benchmark. Historically, Cogstate's own Debt-to-Equity has ranged from 0.01 to 0.32 over the past decade. While the company's 10-year median is 0.04 vs. the industry median of 0.40, Cogstate 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 Healthcare Providers & Services company?
The median Debt-to-Equity among Healthcare Providers & Services companies is 0.40, based on 556 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. Cogstate's current Debt-to-Equity of 0.01 is 97.5% 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 Cogstate and its competitors. For the Healthcare Providers & Services industry, the median Debt-to-Equity is 0.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cogstate's current Debt-to-Equity is 0.01, which is 75% below median its own 10-year median of 0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cogstate stock overvalued right now?
Based on GuruFocus' analysis, Cogstate (ASX:CGS) is currently considered Significantly Overvalued. The stock's GF Value™ is A$2.12, compared to a current price of A$2.78 — trading 31.1% above its estimated fair value. The current Debt-to-Equity is 0.01, which is 75% below median its 10-year median of 0.04 and 97.5% below the Healthcare Providers & Services industry median of 0.40. Cogstate's overall GF Score™ is 76/100 with 4 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 Cogstate (ASX:CGS), the current Debt-to-Equity is 0.01 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 Cogstate (ASX:CGS) Overvalued in 2026?
Based on GuruFocus' analysis, Cogstate stock appears to be overvalued.
The current stock price of A$2.78 is trading 31.1% above its estimated GF Value™ of A$2.12.
GuruFocus considers Cogstate to be Significantly Overvalued.
Key valuation signals for ASX:CGS:
Debt-to-Equity: 0.01 (75% below median its 10-year median of 0.04)
GF Value™: A$2.12 vs. price of A$2.78 (31.1% above fair value)
Industry Position: 97.5% below the Healthcare Providers & Services median (#1 of 556)
No single metric tells the full story. See the ASX:CGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cogstate Ltd is a cognitive science company. The principal activity of the group is the Creation, validation, and commercialisation of digital brain health assessments; and the Design and provision of quality assurance services in clinical trials, focused on the administration, scoring, and recording of conventional brain health assessments and reporting. Its operating segment includes Clinical Trials, Healthcare, and Administration. The company generates maximum revenue from the Clinical Trials segment. In the clinical trials segment, technology and services are sold to pharmaceutical and biotechnology companies. The company derives revenue from the sale of licensed software and cognitive testing services.
76GF Score
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