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IO BiotechIOBTQ Debt-to-Equity is 19.89 as of Sep. 2025, which is 99350% above its 10-year median of 0.02. The stock has 1 warning sign investors should review. Among 954 Biotechnology companies, IO Biotech ranks worse than 99.16% 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 IO Biotech's Debt-to-Equity or its related term are showing as below:
IOBTQ'
s Debt-to-Equity Range Over the Past 10 Years
Min: -0.37 Med: 0.02 Max: 19.89
Current: 19.89
During the past 6 years, the highest Debt-to-Equity Ratio of IO Biotech was 19.89. The lowest was -0.37. And the median was 0.02.
IOBTQ's Debt-to-Equity is ranked worse than 99.16% of 954
companies
in the Biotechnology industry
Industry Median: 0.16
vs IOBTQ: 19.89
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.
IO Biotech Debt-to-Equity Related Terms
IO Biotech Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for IO Biotech'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.
IOBTQ vs RGBP, SCPX, WINT: Debt-to-Equity Comparison
For the Biotechnology subindustry, IO Biotech'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.
IO Biotech Debt-to-Equity vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, IO Biotech's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where IO Biotech'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.
IO Biotech (IOBTQ) has a Debt-to-Equity of 19.89 as of Sep. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on IO Biotech and its competitors. This is 99350% above median its historical median of 0.02. According to the industry distribution chart, IO Biotech ranks #946 out of 954 companies in the Biotechnology industry, placing it in the top 99.2%.
Is IO Biotech's Debt-to-Equity too high?
IO Biotech's current Debt-to-Equity of 19.89 is 99350% above median its 10-year median of 0.02. The Biotechnology industry median Debt-to-Equity is 0.16. IO Biotech's value of 19.89 is 12331.3% above this industry median. Based on the distribution chart, IO Biotech ranks #946 out of 954 companies in the Biotechnology industry, which is in the bottom quartile relative to peers.
How does IO Biotech's Debt-to-Equity compare to RGBP and SCPX?
According to the Biotechnology industry distribution chart, IO Biotech ranks #946 out of 954 companies for Debt-to-Equity. This places IO Biotech in the lower half of its industry. The industry median Debt-to-Equity is 0.16. IO Biotech's value of 19.89 is 12331.3% above this benchmark. While the company's 10-year median is 0.02 vs. the industry median of 0.16, IO Biotech 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 954 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. IO Biotech's current Debt-to-Equity of 19.89 is 12331.3% 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 IO Biotech 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. IO Biotech's current Debt-to-Equity is 19.89, which is 99350% above median its own 10-year median of 0.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IO Biotech stock overvalued right now?
IO Biotech (IOBTQ) has a current Debt-to-Equity of 19.89. The current Debt-to-Equity is 19.89, which is 99350% above median its 10-year median of 0.02 and 12331.3% above the Biotechnology industry median of 0.16. 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 IO Biotech (IOBTQ), the current Debt-to-Equity is 19.89 as of Sep. 2025. 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.
IO Biotech Inc is a clinical-stage biopharmaceutical company developing novel, immune-modulating cancer vaccines based on T-win technology platform. The product candidates are designed to induce the immune system to simultaneously target and disrupt multiple pathways that regulate tumor-induced immunosuppression.
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