Thai Solar Energy PCLBKK:TSE-R 41 Debt-to-Equity is 1.13 as of Mar. 2026, which is 37% below its 10-year median of 1.79. GuruFocus rates BKK:TSE-R with a GF Score™ of 41/100 and a GF Value™ of ฿0.76. The stock has 5 warning signs investors should review. Among 392 Utilities - Independent Power Producers companies, Thai Solar Energy PCL ranks worse than 59.95% 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 Thai Solar Energy PCL's Debt-to-Equity or its related term are showing as below:
BKK:TSE-R'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.37 Med: 1.79 Max: 2.26
Current: 1.13
During the past 13 years, the highest Debt-to-Equity Ratio of Thai Solar Energy PCL was 2.26. The lowest was 0.37. And the median was 1.79.
BKK:TSE-R's Debt-to-Equity is ranked worse than 59.95% of 392
companies
in the Utilities - Independent Power Producers industry
Industry Median: 0.85
vs BKK:TSE-R: 1.13
Thai Solar Energy PCL (BKK:TSE-R) 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.
Thai Solar Energy PCL Debt-to-Equity Related Terms
Thai Solar Energy PCL Debt-to-Equity Historical Data
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The historical data trend for Thai Solar Energy 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.
Thai Solar Energy PCL Debt-to-Equity Competitor Comparison
For the Utilities - Renewable subindustry, Thai Solar Energy 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.
Thai Solar Energy PCL Debt-to-Equity vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Thai Solar Energy PCL's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Thai Solar Energy 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.
Thai Solar Energy PCL (BKK:TSE-R) has a Debt-to-Equity of 1.13 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Thai Solar Energy PCL and its competitors. This is 37% below median its historical median of 1.79. Over the past decade, Thai Solar Energy PCL's Debt-to-Equity has ranged from 0.37 to 2.26. According to the industry distribution chart, Thai Solar Energy PCL ranks #235 out of 392 companies in the Utilities - Independent Power Producers industry, placing it in the top 59.9%.
Is Thai Solar Energy PCL's Debt-to-Equity too high?
Thai Solar Energy PCL's current Debt-to-Equity of 1.13 is 37% below median its 10-year median of 1.79. Over the past 10 years, this metric has ranged from a low of 0.37 to a high of 2.26. The Utilities - Independent Power Producers industry median Debt-to-Equity is 0.85. Thai Solar Energy PCL's value of 1.13 is 32.9% above this industry median. Based on the distribution chart, Thai Solar Energy PCL ranks #235 out of 392 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Thai Solar Energy PCL has a GF Score™ of 41/100, reflecting its overall financial health beyond just this single metric.
How does Thai Solar Energy PCL's Debt-to-Equity compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Thai Solar Energy PCL ranks #235 out of 392 companies for Debt-to-Equity. This places Thai Solar Energy PCL in the lower half of its industry. The industry median Debt-to-Equity is 0.85. Thai Solar Energy PCL's value of 1.13 is 32.9% above this benchmark. Historically, Thai Solar Energy PCL's own Debt-to-Equity has ranged from 0.37 to 2.26 over the past decade. While the company's 10-year median is 1.79 vs. the industry median of 0.85, Thai Solar Energy 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 an Utilities - Independent Power Producers company?
The median Debt-to-Equity among Utilities - Independent Power Producers companies is 0.85, based on 392 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. Thai Solar Energy PCL's current Debt-to-Equity of 1.13 is 32.9% 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 Thai Solar Energy PCL and its competitors. For the Utilities - Independent Power Producers industry, the median Debt-to-Equity is 0.85 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Thai Solar Energy PCL's current Debt-to-Equity is 1.13, which is 37% below median its own 10-year median of 1.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thai Solar Energy PCL stock overvalued right now?
Thai Solar Energy PCL (BKK:TSE-R) has a current Debt-to-Equity of 1.13. The stock's GF Value™ is ฿0.76, compared to a current price of ฿0.61 — trading 20.3% below its estimated fair value. The current Debt-to-Equity is 1.13, which is 37% below median its 10-year median of 1.79 and 32.9% above the Utilities - Independent Power Producers industry median of 0.85. Thai Solar Energy PCL's overall GF Score™ is 41/100 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 Thai Solar Energy PCL (BKK:TSE-R), the current Debt-to-Equity is 1.13 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 Thai Solar Energy PCL (BKK:TSE-R) Overvalued in 2026?
Based on GuruFocus' analysis, Thai Solar Energy PCL stock appears to be undervalued.
The current stock price of ฿0.61 is trading 20.3% below its estimated GF Value™ of ฿0.76.
Key valuation signals for BKK:TSE-R:
Debt-to-Equity: 1.13 (37% below median its 10-year median of 1.79)
GF Value™: ฿0.76 vs. price of ฿0.61 (20.3% below fair value)
Industry Position: 32.9% above the Utilities - Independent Power Producers median (#235 of 392)
No single metric tells the full story. See the BKK:TSE-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Thai Solar Energy PCL is engaged in the generation and distribution of electricity from solar power to the government and private sector. The company has its operational footprints in Thailand and Japan. Its operating segments are Domestic and International of which, the company generates a majority of its revenue from the Domestic segment. The firm's projects are Solar PV Farms Thailand, Solar PV Farms Japan, Solar PV Rooftop Plants Thailand and Biomass Power Plants.
41GF Score
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