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Forge ResourcesFRGGF 21 Debt-to-Equity is 0.11 as of Feb. 2026, which is at its 10-year median of 0.11. GuruFocus rates FRGGF with a GF Score™ of 21/100. The stock has 2 warning signs investors should review. Among 1,222 Metals & Mining companies, Forge Resources ranks better than 55.24% 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 Forge Resources's Debt-to-Equity or its related term are showing as below:
FRGGF'
s Debt-to-Equity Range Over the Past 10 Years
Min: -9.82 Med: 0.11 Max: 23.5
Current: 0.11
During the past 11 years, the highest Debt-to-Equity Ratio of Forge Resources was 23.50. The lowest was -9.82. And the median was 0.11.
FRGGF's Debt-to-Equity is ranked better than 55.24% of 1222
companies
in the Metals & Mining industry
Industry Median: 0.145
vs FRGGF: 0.11
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.
Forge Resources Debt-to-Equity Related Terms
Forge Resources Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Forge Resources'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.
For the Gold subindustry, Forge Resources'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.
Forge Resources Debt-to-Equity vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Forge Resources's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Forge Resources'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.
Forge Resources (FRGGF) has a Debt-to-Equity of 0.11 as of Feb. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Forge Resources and its competitors. This is near median its historical median of 0.11. According to the industry distribution chart, Forge Resources ranks #547 out of 1222 companies in the Metals & Mining industry, placing it in the top 44.8%.
Is Forge Resources' Debt-to-Equity too high?
Forge Resources' current Debt-to-Equity of 0.11 is near median its 10-year median of 0.11. The Metals & Mining industry median Debt-to-Equity is 0.15. Forge Resources' value of 0.11 is 24.1% below this industry median. Based on the distribution chart, Forge Resources ranks #547 out of 1222 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Forge Resources has a GF Score™ of 21/100, reflecting its overall financial health beyond just this single metric.
How does Forge Resources' Debt-to-Equity compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Forge Resources ranks #547 out of 1222 companies for Debt-to-Equity. This puts Forge Resources in the upper half of its industry. The industry median Debt-to-Equity is 0.15. Forge Resources' value of 0.11 is 24.1% below this benchmark. While the company's 10-year median is 0.11 vs. the industry median of 0.15, Forge Resources 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 Metals & Mining company?
The median Debt-to-Equity among Metals & Mining companies is 0.15, based on 1,222 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. Forge Resources's current Debt-to-Equity of 0.11 is 24.1% 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 Forge Resources and its competitors. For the Metals & Mining industry, the median Debt-to-Equity is 0.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forge Resources's current Debt-to-Equity is 0.11, which is near median its own 10-year median of 0.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forge Resources stock overvalued right now?
Forge Resources (FRGGF) has a current Debt-to-Equity of 0.11. The current Debt-to-Equity is 0.11, which is near median its 10-year median of 0.11 and 24.1% below the Metals & Mining industry median of 0.15. Forge Resources' overall GF Score™ is 21/100 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 Forge Resources (FRGGF), the current Debt-to-Equity is 0.11 as of Feb. 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.
Forge Resources Corp is engaged in the exploration and development of natural resource properties in Canada and Colombia. The Company operates in one reportable operating segment, being the acquisition, exploration, and development of exploration and evaluation assets. Its projects include the La Estrella Project in Santander, Colombia, and the Alotta Property in Yukon, Canada.
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