T Tuborg Bira Ve Maltnayii AS (IST:TBORG) Debt-to-Equity: 0.33 (As of Jun. 2026) — 38% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

IST:TBORG T Tuborg Bira Ve Malt Sanayii AS IST:TBORG
94 GF Score
Price ₺129.40
GF Value ₺217.96
Valuation Possible Value Trap
! 9 Warning Signs
View Full Analysis

What is T Tuborg Bira Ve Maltnayii AS Debt-to-Equity?

T Tuborg Bira Ve Maltnayii AS IST:TBORG -2.49% 94 Debt-to-Equity is 0.33 as of Jun. 2026, which is 38% above its 10-year median of 0.24. GuruFocus rates IST:TBORG with a GF Score™ of 94/100 and a GF Value™ of ₺217.96 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 181 Beverages - Alcoholic companies, T Tuborg Bira Ve Maltnayii AS ranks better than 53.59% on this metric.

T Tuborg Bira Ve Maltnayii AS's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was ₺8,740 Mil. T Tuborg Bira Ve Maltnayii AS's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was ₺1,223 Mil. T Tuborg Bira Ve Maltnayii AS's Total Stockholders Equity for the quarter that ended in Jun. 2026 was ₺29,844 Mil. T Tuborg Bira Ve Maltnayii AS's debt to equity for the quarter that ended in Jun. 2026 was 0.33.

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 T Tuborg Bira Ve Maltnayii AS's Debt-to-Equity or its related term are showing as below:

IST:TBORG' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.03   Med: 0.24   Max: 0.65
Current: 0.33

During the past 13 years, the highest Debt-to-Equity Ratio of T Tuborg Bira Ve Maltnayii AS was 0.65. The lowest was 0.03. And the median was 0.24.

IST:TBORG's Debt-to-Equity is ranked better than
53.59% of 181 companies
in the Beverages - Alcoholic industry
Industry Median: 0.37 vs IST:TBORG: 0.33

T Tuborg Bira Ve Maltnayii AS  (IST:TBORG) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.


Be Aware

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.


T Tuborg Bira Ve Maltnayii AS Debt-to-Equity Related Terms


T Tuborg Bira Ve Maltnayii AS Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for T Tuborg Bira Ve Maltnayii 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.

T Tuborg Bira Ve Maltnayii AS Debt-to-Equity Chart

T Tuborg Bira Ve Maltnayii AS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.04 0.24 0.25 0.08 0.25

T Tuborg Bira Ve Maltnayii AS Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Debt-to-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.21 0.32 0.25 0.25 0.33

IST:TBORG vs STZ, TAP: Debt-to-Equity Comparison

For the Beverages - Brewers subindustry, T Tuborg Bira Ve Maltnayii 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.


T Tuborg Bira Ve Maltnayii AS Debt-to-Equity vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, T Tuborg Bira Ve Maltnayii AS's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where T Tuborg Bira Ve Maltnayii AS's Debt-to-Equity falls into.


IST:TBORG
94GF Score
T Tuborg Bira Ve Malt Sanayii AS IST:TBORG
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

T Tuborg Bira Ve Maltnayii AS Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

T Tuborg Bira Ve Maltnayii AS's Debt to Equity Ratio for the fiscal year that ended in Dec. 2025 is calculated as

T Tuborg Bira Ve Maltnayii AS's Debt to Equity Ratio for the quarter that ended in Jun. 2026 is calculated as

* 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.

Frequently Asked Questions Learn more about Debt-to-Equity →
What does a Debt-to-Equity of 0.33 mean?
T Tuborg Bira Ve Maltnayii AS (IST:TBORG) has a Debt-to-Equity of 0.33 as of Jun. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on T Tuborg Bira Ve Maltnayii AS and its competitors. This is 38% above median its historical median of 0.24. Over the past decade, T Tuborg Bira Ve Maltnayii AS's Debt-to-Equity has ranged from 0.03 to 0.65. According to the industry distribution chart, T Tuborg Bira Ve Maltnayii AS ranks #84 out of 181 companies in the Beverages - Alcoholic industry, placing it in the top 46.4%.
Is T Tuborg Bira Ve Maltnayii AS's Debt-to-Equity too high?
T Tuborg Bira Ve Maltnayii AS's current Debt-to-Equity of 0.33 is 38% above median its 10-year median of 0.24. Over the past 10 years, this metric has ranged from a low of 0.03 to a high of 0.65. The Beverages - Alcoholic industry median Debt-to-Equity is 0.37. T Tuborg Bira Ve Maltnayii AS's value of 0.33 is 10.8% below this industry median. Based on the distribution chart, T Tuborg Bira Ve Maltnayii AS ranks #84 out of 181 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, T Tuborg Bira Ve Maltnayii AS has a GF Score™ of 94/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does T Tuborg Bira Ve Maltnayii AS's Debt-to-Equity compare to STZ and TAP?
According to the Beverages - Alcoholic industry distribution chart, T Tuborg Bira Ve Maltnayii AS ranks #84 out of 181 companies for Debt-to-Equity. This puts T Tuborg Bira Ve Maltnayii AS in the upper half of its industry. The industry median Debt-to-Equity is 0.37. T Tuborg Bira Ve Maltnayii AS's value of 0.33 is 10.8% below this benchmark. Historically, T Tuborg Bira Ve Maltnayii AS's own Debt-to-Equity has ranged from 0.03 to 0.65 over the past decade. While the company's 10-year median is 0.24 vs. the industry median of 0.37, T Tuborg Bira Ve Maltnayii AS 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 Beverages - Alcoholic company?
The median Debt-to-Equity among Beverages - Alcoholic companies is 0.37, based on 181 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. T Tuborg Bira Ve Maltnayii AS's current Debt-to-Equity of 0.33 is 10.8% 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 T Tuborg Bira Ve Maltnayii AS and its competitors. For the Beverages - Alcoholic industry, the median Debt-to-Equity is 0.37 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. T Tuborg Bira Ve Maltnayii AS's current Debt-to-Equity is 0.33, which is 38% above median its own 10-year median of 0.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is T Tuborg Bira Ve Maltnayii AS stock overvalued right now?
Based on GuruFocus' analysis, T Tuborg Bira Ve Maltnayii AS (IST:TBORG) is currently considered Possible Value Trap. The stock's GF Value™ is ₺217.96, compared to a current price of ₺129.40 — trading 40.6% below its estimated fair value. The current Debt-to-Equity is 0.33, which is 38% above median its 10-year median of 0.24 and 10.8% below the Beverages - Alcoholic industry median of 0.37. T Tuborg Bira Ve Maltnayii AS's overall GF Score™ is 94/100 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 T Tuborg Bira Ve Maltnayii AS (IST:TBORG), the current Debt-to-Equity is 0.33 as of Jun. 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 T Tuborg Bira Ve Maltnayii AS (IST:TBORG) Overvalued in 2026?

Based on GuruFocus' analysis, T Tuborg Bira Ve Maltnayii AS stock appears to be undervalued. The current stock price of ₺129.40 is trading 40.6% below its estimated GF Value™ of ₺217.96. GuruFocus considers T Tuborg Bira Ve Maltnayii AS to be Possible Value Trap.

Key valuation signals for IST:TBORG:

  • Debt-to-Equity: 0.33 (38% above median its 10-year median of 0.24)
  • GF Value™: ₺217.96 vs. price of ₺129.40 (40.6% below fair value)
  • GF Score™: 94/100 with 9 warning signs
  • Industry Position: 10.8% below the Beverages - Alcoholic median (#84 of 181)

No single metric tells the full story. See the IST:TBORG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


T Tuborg Bira Ve Maltnayii AS Business Description

Address Kemalpasa Street, No. 258, Isikkent Bornova, Izmir, TUR, 35070
T Tuborg Bira Ve Malt Sanayii AS produces, sells, and distributes beer and malt to domestic and international markets. Its products are sold under the brand names Tuborg, Carlsberg, Frederik, Troy, and others.
94GF Score

Get the complete analysis for IST:TBORG

Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₺129.40
Price
₺217.96
GF Value