Forth PCLBKK:FORTH-R 81 Debt-to-Equity is 1.80 as of Mar. 2026, which is 16% below its 10-year median of 2.15. GuruFocus rates BKK:FORTH-R with a GF Score™ of 81/100 and a GF Value™ of ฿5.51. The stock has 9 warning signs investors should review. Among 510 Conglomerates companies, Forth PCL ranks worse than 85.49% 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 Forth PCL's Debt-to-Equity or its related term are showing as below:
BKK:FORTH-R'
s Debt-to-Equity Range Over the Past 10 Years
Min: 1.17 Med: 2.15 Max: 2.97
Current: 1.8
During the past 13 years, the highest Debt-to-Equity Ratio of Forth PCL was 2.97. The lowest was 1.17. And the median was 2.15.
BKK:FORTH-R's Debt-to-Equity is ranked worse than 85.49% of 510
companies
in the Conglomerates industry
Industry Median: 0.54
vs BKK:FORTH-R: 1.80
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.
Forth PCL Debt-to-Equity Related Terms
Forth PCL Debt-to-Equity Historical Data
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The historical data trend for Forth PCL'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.
BKK:FORTH-R vs HON, MMM: Debt-to-Equity Comparison
For the Conglomerates subindustry, Forth PCL'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.
Forth PCL Debt-to-Equity vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Forth PCL's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Forth PCL'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.
Forth PCL (BKK:FORTH-R) has a Debt-to-Equity of 1.80 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Forth PCL and its competitors. This is 16% below median its historical median of 2.15. Over the past decade, Forth PCL's Debt-to-Equity has ranged from 1.17 to 2.97. According to the industry distribution chart, Forth PCL ranks #436 out of 510 companies in the Conglomerates industry, placing it in the top 85.5%.
Is Forth PCL's Debt-to-Equity too high?
Forth PCL's current Debt-to-Equity of 1.80 is 16% below median its 10-year median of 2.15. Over the past 10 years, this metric has ranged from a low of 1.17 to a high of 2.97. The Conglomerates industry median Debt-to-Equity is 0.54. Forth PCL's value of 1.80 is 233.3% above this industry median. Based on the distribution chart, Forth PCL ranks #436 out of 510 companies in the Conglomerates industry, which is in the bottom quartile relative to peers. Overall, Forth PCL has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Forth PCL's Debt-to-Equity compare to HON and MMM?
According to the Conglomerates industry distribution chart, Forth PCL ranks #436 out of 510 companies for Debt-to-Equity. This places Forth PCL in the lower half of its industry. The industry median Debt-to-Equity is 0.54. Forth PCL's value of 1.80 is 233.3% above this benchmark. Historically, Forth PCL's own Debt-to-Equity has ranged from 1.17 to 2.97 over the past decade. While the company's 10-year median is 2.15 vs. the industry median of 0.54, Forth PCL 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 Conglomerates company?
The median Debt-to-Equity among Conglomerates companies is 0.54, based on 510 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. Forth PCL's current Debt-to-Equity of 1.80 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 Forth PCL and its competitors. For the Conglomerates industry, the median Debt-to-Equity is 0.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth PCL's current Debt-to-Equity is 1.80, which is 16% below median its own 10-year median of 2.15. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth PCL stock overvalued right now?
Forth PCL (BKK:FORTH-R) has a current Debt-to-Equity of 1.80. The stock's GF Value™ is ฿5.51, compared to a current price of ฿6.44 — trading 16.8% above its estimated fair value. The current Debt-to-Equity is 1.80, which is 16% below median its 10-year median of 2.15 and 233.3% above the Conglomerates industry median of 0.54. Forth PCL's overall GF Score™ is 81/100 with 9 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 Forth PCL (BKK:FORTH-R), the current Debt-to-Equity is 1.80 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 Forth PCL (BKK:FORTH-R) Overvalued in 2026?
Based on GuruFocus' analysis, Forth PCL stock appears to be overvalued.
The current stock price of ฿6.44 is trading 16.8% above its estimated GF Value™ of ฿5.51.
Key valuation signals for BKK:FORTH-R:
Debt-to-Equity: 1.80 (16% below median its 10-year median of 2.15)
GF Value™: ฿5.51 vs. price of ฿6.44 (16.8% above fair value)
Industry Position: 233.3% above the Conglomerates median (#436 of 510)
No single metric tells the full story. See the BKK:FORTH-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Corp PCL manufactures and distributes electronic equipment and project work relating to design and install telecommunication equipment. The company's segments include Electronics manufacturing service business sources, manufactures and distributes electronics parts, both work manufactured order and general equipment; Enterprise solutions business bids for project work, sources, subcontracts and install various systems for the government and private sectors; Smart service business provides online financial transaction service and sells products and service through vending machines and provides lending services. The Enterprise solutions business derives the majority of the revenue. Geographically it operates in Thailand, Netherlands, United States of America, and Others.
81GF Score
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