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Heron TherapeuticsFRA:AXD2 -1.07%47 Debt-to-Equity is 15.50 as of Mar. 2026, which is 22043% above its 10-year median of 0.07. GuruFocus rates FRA:AXD2 with a GF Score™ of 47/100 and a GF Value™ of €1.29 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 966 Biotechnology companies, Heron Therapeutics ranks worse than 99.38% 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 Heron Therapeutics's Debt-to-Equity or its related term are showing as below:
FRA:AXD2'
s Debt-to-Equity Range Over the Past 10 Years
Min: -13.73 Med: 0.07 Max: 15.5
Current: 15.5
During the past 13 years, the highest Debt-to-Equity Ratio of Heron Therapeutics was 15.50. The lowest was -13.73. And the median was 0.07.
FRA:AXD2's Debt-to-Equity is ranked worse than 99.38% of 966
companies
in the Biotechnology industry
Industry Median: 0.16
vs FRA:AXD2: 15.50
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.
Heron Therapeutics Debt-to-Equity Related Terms
Heron Therapeutics Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Heron Therapeutics'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:AXD2 vs ENTX, OKYO, EDSA: Debt-to-Equity Comparison
For the Biotechnology subindustry, Heron Therapeutics'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.
Heron Therapeutics Debt-to-Equity vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Heron Therapeutics's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Heron Therapeutics'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.
Heron Therapeutics (FRA:AXD2) has a Debt-to-Equity of 15.50 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Heron Therapeutics and its competitors. This is 22043% above median its historical median of 0.07. According to the industry distribution chart, Heron Therapeutics ranks #960 out of 966 companies in the Biotechnology industry, placing it in the top 99.4%.
Is Heron Therapeutics' Debt-to-Equity too high?
Heron Therapeutics' current Debt-to-Equity of 15.50 is 22043% above median its 10-year median of 0.07. The Biotechnology industry median Debt-to-Equity is 0.16. Heron Therapeutics' value of 15.50 is 9587.5% above this industry median. Based on the distribution chart, Heron Therapeutics ranks #960 out of 966 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Heron Therapeutics has a GF Score™ of 47/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Heron Therapeutics' Debt-to-Equity compare to ENTX and OKYO?
According to the Biotechnology industry distribution chart, Heron Therapeutics ranks #960 out of 966 companies for Debt-to-Equity. This places Heron Therapeutics in the lower half of its industry. The industry median Debt-to-Equity is 0.16. Heron Therapeutics' value of 15.50 is 9587.5% above this benchmark. While the company's 10-year median is 0.07 vs. the industry median of 0.16, Heron Therapeutics 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 Biotechnology company?
The median Debt-to-Equity among Biotechnology companies is 0.16, based on 966 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. Heron Therapeutics's current Debt-to-Equity of 15.50 is 9587.5% 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 Heron Therapeutics and its competitors. For the Biotechnology industry, the median Debt-to-Equity is 0.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heron Therapeutics's current Debt-to-Equity is 15.50, which is 22043% above median its own 10-year median of 0.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heron Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, Heron Therapeutics (FRA:AXD2) is currently considered Possible Value Trap. The stock's GF Value™ is €1.29, compared to a current price of €0.41 — trading 68.4% below its estimated fair value. The current Debt-to-Equity is 15.50, which is 22043% above median its 10-year median of 0.07 and 9587.5% above the Biotechnology industry median of 0.16. Heron Therapeutics' overall GF Score™ is 47/100 with 4 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 Heron Therapeutics (FRA:AXD2), the current Debt-to-Equity is 15.50 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 Heron Therapeutics (FRA:AXD2) Overvalued in 2026?
Based on GuruFocus' analysis, Heron Therapeutics stock appears to be undervalued.
The current stock price of €0.41 is trading 68.4% below its estimated GF Value™ of €1.29.
GuruFocus considers Heron Therapeutics to be Possible Value Trap.
Key valuation signals for FRA:AXD2:
Debt-to-Equity: 15.50 (22043% above median its 10-year median of 0.07)
GF Value™: €1.29 vs. price of €0.41 (68.4% below fair value)
Industry Position: 9587.5% above the Biotechnology median (#960 of 966)
No single metric tells the full story. See the FRA:AXD2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heron Therapeutics Inc is a commercial-stage biotechnology company. The company is focused on improving the lives of patients by developing treatments and commercializing therapeutic solutions to address some of the unmet patient needs. The company's product portfolio consists of APONVIE, SUSTOL, ZYNRELEF, and CINVANTI.
47GF Score
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