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First GenFSGCY 54 Debt-to-Equity is 0.56 as of Mar. 2026, which is 31% below its 10-year median of 0.81. GuruFocus rates FSGCY with a GF Score™ of 54/100 and a GF Value™ of $2.17 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 392 Utilities - Independent Power Producers companies, First Gen ranks better than 62.24% 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 First Gen's Debt-to-Equity or its related term are showing as below:
FSGCY'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.56 Med: 0.81 Max: 1.69
Current: 0.56
During the past 13 years, the highest Debt-to-Equity Ratio of First Gen was 1.69. The lowest was 0.56. And the median was 0.81.
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.
First Gen Debt-to-Equity Related Terms
First Gen Debt-to-Equity Historical Data
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The historical data trend for First Gen'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 Utilities - Renewable subindustry, First Gen'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.
First Gen Debt-to-Equity vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, First Gen's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where First Gen'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.
First Gen (FSGCY) has a Debt-to-Equity of 0.56 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on First Gen and its competitors. This is 31% below median its historical median of 0.81. Over the past decade, First Gen's Debt-to-Equity has ranged from 0.56 to 1.69. According to the industry distribution chart, First Gen ranks #148 out of 392 companies in the Utilities - Independent Power Producers industry, placing it in the top 37.8%.
Is First Gen's Debt-to-Equity too high?
First Gen's current Debt-to-Equity of 0.56 is 31% below median its 10-year median of 0.81. Over the past 10 years, this metric has ranged from a low of 0.56 to a high of 1.69. The Utilities - Independent Power Producers industry median Debt-to-Equity is 0.85. First Gen's value of 0.56 is 34.1% below this industry median. Based on the distribution chart, First Gen ranks #148 out of 392 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, First Gen has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Gen's Debt-to-Equity compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, First Gen ranks #148 out of 392 companies for Debt-to-Equity. This puts First Gen in the upper half of its industry. The industry median Debt-to-Equity is 0.85. First Gen's value of 0.56 is 34.1% below this benchmark. Historically, First Gen's own Debt-to-Equity has ranged from 0.56 to 1.69 over the past decade. While the company's 10-year median is 0.81 vs. the industry median of 0.85, First Gen 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 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. First Gen's current Debt-to-Equity of 0.56 is 34.1% 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 First Gen 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. First Gen's current Debt-to-Equity is 0.56, which is 31% below median its own 10-year median of 0.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Gen stock overvalued right now?
Based on GuruFocus' analysis, First Gen (FSGCY) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.17, compared to a current price of $5.35 — trading 146.5% above its estimated fair value. The current Debt-to-Equity is 0.56, which is 31% below median its 10-year median of 0.81 and 34.1% below the Utilities - Independent Power Producers industry median of 0.85. First Gen's overall GF Score™ is 54/100 with 9 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 First Gen (FSGCY), the current Debt-to-Equity is 0.56 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 First Gen (FSGCY) Overvalued in 2026?
Based on GuruFocus' analysis, First Gen stock appears to be overvalued.
The current stock price of $5.35 is trading 146.5% above its estimated GF Value™ of $2.17.
GuruFocus considers First Gen to be Significantly Overvalued.
Key valuation signals for FSGCY:
Debt-to-Equity: 0.56 (31% below median its 10-year median of 0.81)
GF Value™: $2.17 vs. price of $5.35 (146.5% above fair value)
Industry Position: 34.1% below the Utilities - Independent Power Producers median (#148 of 392)
No single metric tells the full story. See the FSGCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Gen Corp is an independent electric utility company operating in the Philippines. First Gen develops, finances, builds, bids for, and operate power generation projects. The company generates a amount of Filipino energy needs through its portfolio of natural gas, wind, solar, hydro, and geothermal power plants located in the country. Majority of the power generated by First Gen is produced through natural gas and geothermal fuel sources. It operates in six segments: FGPC, FGP, EDC and Subsidiaries, FGEN LNG, FNPC, and Prime Meridian. The company only operates in Philippines.
54GF Score
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