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Forth Smart Service PCLBKK:FSMART -2.53%68 Debt-to-Equity is 0.53 as of Mar. 2026, which is 9% below its 10-year median of 0.58. GuruFocus rates BKK:FSMART with a GF Score™ of 68/100 and a GF Value™ of ฿6.73 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 324 Telecommunication Services companies, Forth Smart Service PCL ranks better than 53.7% 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 Smart Service PCL's Debt-to-Equity or its related term are showing as below:
BKK:FSMART'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.26 Med: 0.58 Max: 1.22
Current: 0.53
During the past 13 years, the highest Debt-to-Equity Ratio of Forth Smart Service PCL was 1.22. The lowest was 0.26. And the median was 0.58.
BKK:FSMART's Debt-to-Equity is ranked better than 53.7% of 324
companies
in the Telecommunication Services industry
Industry Median: 0.615
vs BKK:FSMART: 0.53
Forth Smart Service PCL (BKK:FSMART) Debt-to-Equity Explanation
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 Smart Service PCL Debt-to-Equity Related Terms
Forth Smart Service PCL Debt-to-Equity Historical Data
* 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:FSMART vs VZ, TMUS, T: Debt-to-Equity Comparison
For the Telecom Services subindustry, Forth Smart Service 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 Smart Service PCL Debt-to-Equity vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forth Smart Service PCL's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Forth Smart Service 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 Smart Service PCL (BKK:FSMART) has a Debt-to-Equity of 0.53 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Forth Smart Service PCL and its competitors. This is near median its historical median of 0.58. Over the past decade, Forth Smart Service PCL's Debt-to-Equity has ranged from 0.26 to 1.22. According to the industry distribution chart, Forth Smart Service PCL ranks #150 out of 324 companies in the Telecommunication Services industry, placing it in the top 46.3%.
Is Forth Smart Service PCL's Debt-to-Equity too high?
Forth Smart Service PCL's current Debt-to-Equity of 0.53 is near median its 10-year median of 0.58. Over the past 10 years, this metric has ranged from a low of 0.26 to a high of 1.22. The Telecommunication Services industry median Debt-to-Equity is 0.62. Forth Smart Service PCL's value of 0.53 is 13.8% below this industry median. Based on the distribution chart, Forth Smart Service PCL ranks #150 out of 324 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Forth Smart Service PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forth Smart Service PCL's Debt-to-Equity compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forth Smart Service PCL ranks #150 out of 324 companies for Debt-to-Equity. This puts Forth Smart Service PCL in the upper half of its industry. The industry median Debt-to-Equity is 0.62. Forth Smart Service PCL's value of 0.53 is 13.8% below this benchmark. Historically, Forth Smart Service PCL's own Debt-to-Equity has ranged from 0.26 to 1.22 over the past decade. While the company's 10-year median is 0.58 vs. the industry median of 0.62, Forth Smart Service PCL 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 Telecommunication Services company?
The median Debt-to-Equity among Telecommunication Services companies is 0.62, based on 324 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 Smart Service PCL's current Debt-to-Equity of 0.53 is 13.8% 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 Forth Smart Service PCL and its competitors. For the Telecommunication Services industry, the median Debt-to-Equity is 0.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth Smart Service PCL's current Debt-to-Equity is 0.53, which is near median its own 10-year median of 0.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth Smart Service PCL stock overvalued right now?
Based on GuruFocus' analysis, Forth Smart Service PCL (BKK:FSMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.73, compared to a current price of ฿7.70 — trading 14.4% above its estimated fair value. The current Debt-to-Equity is 0.53, which is near median its 10-year median of 0.58 and 13.8% below the Telecommunication Services industry median of 0.62. Forth Smart Service PCL's overall GF Score™ is 68/100 with 3 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 Smart Service PCL (BKK:FSMART), the current Debt-to-Equity is 0.53 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 Smart Service PCL (BKK:FSMART) Overvalued in 2026?
Based on GuruFocus' analysis, Forth Smart Service PCL stock appears to be overvalued.
The current stock price of ฿7.70 is trading 14.4% above its estimated GF Value™ of ฿6.73.
GuruFocus considers Forth Smart Service PCL to be Modestly Overvalued.
Key valuation signals for BKK:FSMART:
Debt-to-Equity: 0.53 (near median its 10-year median of 0.58)
GF Value™: ฿6.73 vs. price of ฿7.70 (14.4% above fair value)
Industry Position: 13.8% below the Telecommunication Services median (#150 of 324)
No single metric tells the full story. See the BKK:FSMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Smart Service PCL is a Thailand-based company engaged in providing prepaid mobile top-up services, money transfer services, and online payment receipt services through electronic top-up machines. The company also provides advertising services through its online top-up machine network. It operates through two reportable segments: Top-up Machine, which provides mobile top-up, payment, and related services through automated machines; and Lending, which provides personal loans and nano finance services. It generates the majority of its revenue from the Top-up machine segment.
68GF Score
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