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.
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.
Legend BiotechLEGN +0.63%74 Debt-to-Equity is 0.40 as of Mar. 2026, which is 38% above its 10-year median of 0.29. GuruFocus rates LEGN with a GF Score™ of 74/100 and a GF Value™ of $101.79 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 968 Biotechnology companies, Legend Biotech ranks worse than 69.94% 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 Legend Biotech's Debt-to-Equity or its related term are showing as below:
LEGN'
s Debt-to-Equity Range Over the Past 10 Years
Min: -0.3 Med: 0.29 Max: 0.5
Current: 0.4
During the past 8 years, the highest Debt-to-Equity Ratio of Legend Biotech was 0.50. The lowest was -0.30. And the median was 0.29.
LEGN's Debt-to-Equity is ranked worse than 69.94% of 968
companies
in the Biotechnology industry
Industry Median: 0.16
vs LEGN: 0.40
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.
Legend Biotech Debt-to-Equity Related Terms
Legend Biotech Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Legend 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.
LEGN vs TNGX, ACAD, CAI: Debt-to-Equity Comparison
For the Biotechnology subindustry, Legend 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.
Legend Biotech Debt-to-Equity vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Legend Biotech's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Legend 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.
Legend Biotech (LEGN) has a Debt-to-Equity of 0.40 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Legend Biotech and its competitors. This is 38% above median its historical median of 0.29. According to the industry distribution chart, Legend Biotech ranks #677 out of 968 companies in the Biotechnology industry, placing it in the top 69.9%.
Is Legend Biotech's Debt-to-Equity too high?
Legend Biotech's current Debt-to-Equity of 0.40 is 38% above median its 10-year median of 0.29. The Biotechnology industry median Debt-to-Equity is 0.16. Legend Biotech's value of 0.40 is 150% above this industry median. Based on the distribution chart, Legend Biotech ranks #677 out of 968 companies in the Biotechnology industry, which is below the industry midpoint. Overall, Legend Biotech has a GF Score™ of 74/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Legend Biotech's Debt-to-Equity compare to TNGX and ACAD?
According to the Biotechnology industry distribution chart, Legend Biotech ranks #677 out of 968 companies for Debt-to-Equity. This places Legend Biotech in the lower half of its industry. The industry median Debt-to-Equity is 0.16. Legend Biotech's value of 0.40 is 150% above this benchmark. While the company's 10-year median is 0.29 vs. the industry median of 0.16, Legend 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 968 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. Legend Biotech's current Debt-to-Equity of 0.40 is 150% 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 Legend 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. Legend Biotech's current Debt-to-Equity is 0.40, which is 38% above median its own 10-year median of 0.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Legend Biotech stock overvalued right now?
Based on GuruFocus' analysis, Legend Biotech (LEGN) is currently considered Possible Value Trap. The stock's GF Value™ is $101.79, compared to a current price of $19.12 — trading 81.2% below its estimated fair value. The current Debt-to-Equity is 0.40, which is 38% above median its 10-year median of 0.29 and 150% above the Biotechnology industry median of 0.16. Legend Biotech's overall GF Score™ is 74/100 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 Legend Biotech (LEGN), the current Debt-to-Equity is 0.40 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 Legend Biotech (LEGN) Overvalued in 2026?
Based on GuruFocus' analysis, Legend Biotech stock appears to be undervalued.
The current stock price of $19.12 is trading 81.2% below its estimated GF Value™ of $101.79.
GuruFocus considers Legend Biotech to be Possible Value Trap.
Key valuation signals for LEGN:
Debt-to-Equity: 0.40 (38% above median its 10-year median of 0.29)
GF Value™: $101.79 vs. price of $19.12 (81.2% below fair value)
Industry Position: 150% above the Biotechnology median (#677 of 968)
No single metric tells the full story. See the LEGN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Legend Biotech Corp is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of novel cell therapies for oncology and other indications. The firm's product candidate, LCAR-B38M/JNJ-4528, is a chimeric antigen receptor, or CAR, T cell therapy for the treatment of multiple myeloma. Geographically, the company generates a majority of its revenue from the United States of America. The company generates revenue from License and Collaboration revenue.
74GF Score
Get the complete analysis for LEGN
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
LEGN has been successfully added to your 
