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.
Air WaterAWTRF -5.69%61 Debt-to-Equity is 1.20 as of Mar. 2026, which is 38% above its 10-year median of 0.87. GuruFocus rates AWTRF with a GF Score™ of 61/100 and a GF Value™ of $13.49 (Fairly Valued). The stock has 11 warning signs investors should review. Among 1,421 Chemicals companies, Air Water ranks worse than 87.61% 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 Air Water's Debt-to-Equity or its related term are showing as below:
AWTRF'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.67 Med: 0.87 Max: 1.2
Current: 1.2
During the past 13 years, the highest Debt-to-Equity Ratio of Air Water was 1.20. The lowest was 0.67. And the median was 0.87.
AWTRF's Debt-to-Equity is ranked worse than 87.61% of 1421
companies
in the Chemicals industry
Industry Median: 0.36
vs AWTRF: 1.20
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.
Air Water Debt-to-Equity Related Terms
Air Water Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Air Water'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.
For the Specialty Chemicals subindustry, Air Water'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.
Air Water Debt-to-Equity vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, Air Water's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Air Water'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.
Air Water (AWTRF) has a Debt-to-Equity of 1.20 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Air Water and its competitors. This is 38% above median its historical median of 0.87. Over the past decade, Air Water's Debt-to-Equity has ranged from 0.67 to 1.20. According to the industry distribution chart, Air Water ranks #1245 out of 1421 companies in the Chemicals industry, placing it in the top 87.6%.
Is Air Water's Debt-to-Equity too high?
Air Water's current Debt-to-Equity of 1.20 is 38% above median its 10-year median of 0.87. Over the past 10 years, this metric has ranged from a low of 0.67 to a high of 1.20. The Chemicals industry median Debt-to-Equity is 0.36. Air Water's value of 1.20 is 233.3% above this industry median. Based on the distribution chart, Air Water ranks #1245 out of 1421 companies in the Chemicals industry, which is in the bottom quartile relative to peers. Overall, Air Water has a GF Score™ of 61/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Air Water's Debt-to-Equity compare to LIN and SHW?
According to the Chemicals industry distribution chart, Air Water ranks #1245 out of 1421 companies for Debt-to-Equity. This places Air Water in the lower half of its industry. The industry median Debt-to-Equity is 0.36. Air Water's value of 1.20 is 233.3% above this benchmark. Historically, Air Water's own Debt-to-Equity has ranged from 0.67 to 1.20 over the past decade. While the company's 10-year median is 0.87 vs. the industry median of 0.36, Air Water has consistently been above 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 Chemicals company?
The median Debt-to-Equity among Chemicals companies is 0.36, based on 1,421 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. Air Water's current Debt-to-Equity of 1.20 is 233.3% above 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 Air Water and its competitors. For the Chemicals industry, the median Debt-to-Equity is 0.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Air Water's current Debt-to-Equity is 1.20, which is 38% above median its own 10-year median of 0.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Air Water stock overvalued right now?
Based on GuruFocus' analysis, Air Water (AWTRF) is currently considered Fairly Valued. The stock's GF Value™ is $13.49, compared to a current price of $13.91 — trading 3.1% above its estimated fair value. The current Debt-to-Equity is 1.20, which is 38% above median its 10-year median of 0.87 and 233.3% above the Chemicals industry median of 0.36. Air Water's overall GF Score™ is 61/100 with 11 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 Air Water (AWTRF), the current Debt-to-Equity is 1.20 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.
Is Air Water (AWTRF) Overvalued in 2026?
Based on GuruFocus' analysis, Air Water stock appears to be overvalued.
The current stock price of $13.91 is trading 3.1% above its estimated GF Value™ of $13.49.
GuruFocus considers Air Water to be Fairly Valued.
Key valuation signals for AWTRF:
Debt-to-Equity: 1.20 (38% above median its 10-year median of 0.87)
GF Value™: $13.49 vs. price of $13.91 (3.1% above fair value)
Industry Position: 233.3% above the Chemicals median (#1245 of 1421)
No single metric tells the full story. See the AWTRF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Air Water Inc is a diversified conglomerate engaged in the supply of industrial gases and various other businesses and services. The company operates through five segments. The Agri & Foods segment covers the processing and distribution of fruits and vegetables, frozen foods, meat products, and contract manufacturing of beverages. The Digital & Industry segment focuses on industrial gases, electrical, and functional materials. The Energy Solutions segment deals with LP gas, kerosene, and related equipment. The Health & Safety segment provides medical gases, dental and protective materials, hospital equipment, and home medical care services. The Other Businesses segment includes logistics, salt production, overseas industrial gas operations, biomass power, and high-output UPS solutions.
61GF Score
Get the complete analysis for AWTRF
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
AWTRF has been successfully added to your 
