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Dolphin Drilling ASFRA:5DP -1.73%51 Debt-to-Equity is 2.57 as of Mar. 2026, which is 93% above its 10-year median of 1.33. GuruFocus rates FRA:5DP with a GF Score™ of 51/100 and a GF Value™ of €0.35 (Possible Value Trap). The stock has 2 warning signs investors should review. Among 798 Oil & Gas companies, Dolphin Drilling AS ranks worse than 91.6% 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 Dolphin Drilling AS's Debt-to-Equity or its related term are showing as below:
FRA:5DP'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02 Med: 1.33 Max: 10.91
Current: 2.57
During the past 13 years, the highest Debt-to-Equity Ratio of Dolphin Drilling AS was 10.91. The lowest was 0.02. And the median was 1.33.
FRA:5DP's Debt-to-Equity is ranked worse than 91.6% of 798
companies
in the Oil & Gas industry
Industry Median: 0.46
vs FRA:5DP: 2.57
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.
Dolphin Drilling AS Debt-to-Equity Related Terms
Dolphin Drilling AS Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Dolphin Drilling AS'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.
FRA:5DP vs NE, RIG, VAL: Debt-to-Equity Comparison
For the Oil & Gas Drilling subindustry, Dolphin Drilling AS'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.
Dolphin Drilling AS Debt-to-Equity vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Dolphin Drilling AS's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Dolphin Drilling AS'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.
Dolphin Drilling AS (FRA:5DP) has a Debt-to-Equity of 2.57 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Dolphin Drilling AS and its competitors. This is 93% above median its historical median of 1.33. Over the past decade, Dolphin Drilling AS's Debt-to-Equity has ranged from 0.02 to 10.91. According to the industry distribution chart, Dolphin Drilling AS ranks #731 out of 798 companies in the Oil & Gas industry, placing it in the top 91.6%.
Is Dolphin Drilling AS's Debt-to-Equity too high?
Dolphin Drilling AS's current Debt-to-Equity of 2.57 is 93% above median its 10-year median of 1.33. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 10.91. The Oil & Gas industry median Debt-to-Equity is 0.46. Dolphin Drilling AS's value of 2.57 is 458.7% above this industry median. Based on the distribution chart, Dolphin Drilling AS ranks #731 out of 798 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Dolphin Drilling AS has a GF Score™ of 51/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Dolphin Drilling AS's Debt-to-Equity compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Dolphin Drilling AS ranks #731 out of 798 companies for Debt-to-Equity. This places Dolphin Drilling AS in the lower half of its industry. The industry median Debt-to-Equity is 0.46. Dolphin Drilling AS's value of 2.57 is 458.7% above this benchmark. Historically, Dolphin Drilling AS's own Debt-to-Equity has ranged from 0.02 to 10.91 over the past decade. While the company's 10-year median is 1.33 vs. the industry median of 0.46, Dolphin Drilling AS 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 Oil & Gas company?
The median Debt-to-Equity among Oil & Gas companies is 0.46, based on 798 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. Dolphin Drilling AS's current Debt-to-Equity of 2.57 is 458.7% 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 Dolphin Drilling AS and its competitors. For the Oil & Gas industry, the median Debt-to-Equity is 0.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dolphin Drilling AS's current Debt-to-Equity is 2.57, which is 93% above median its own 10-year median of 1.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dolphin Drilling AS stock overvalued right now?
Based on GuruFocus' analysis, Dolphin Drilling AS (FRA:5DP) is currently considered Possible Value Trap. The stock's GF Value™ is €0.35, compared to a current price of €0.23 — trading 35.1% below its estimated fair value. The current Debt-to-Equity is 2.57, which is 93% above median its 10-year median of 1.33 and 458.7% above the Oil & Gas industry median of 0.46. Dolphin Drilling AS's overall GF Score™ is 51/100 with 2 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 Dolphin Drilling AS (FRA:5DP), the current Debt-to-Equity is 2.57 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 Dolphin Drilling AS (FRA:5DP) Overvalued in 2026?
Based on GuruFocus' analysis, Dolphin Drilling AS stock appears to be undervalued.
The current stock price of €0.23 is trading 35.1% below its estimated GF Value™ of €0.35.
GuruFocus considers Dolphin Drilling AS to be Possible Value Trap.
Key valuation signals for FRA:5DP:
Debt-to-Equity: 2.57 (93% above median its 10-year median of 1.33)
GF Value™: €0.35 vs. price of €0.23 (35.1% below fair value)
Industry Position: 458.7% above the Oil & Gas median (#731 of 798)
No single metric tells the full story. See the FRA:5DP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dolphin Drilling AS is organised into one segment; drilling services to the offshore oil and gas offshore industry. The company has presence in United Kingdom, India, Nigeria, Norway, and Others. The company generates majority of revenue from India.
51GF Score
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