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Marks & Spencer GroupMAKSF 83 Debt-to-Equity is 1.12 as of Mar. 2026, which is 9% below its 10-year median of 1.23. GuruFocus rates MAKSF with a GF Score™ of 83/100 and a GF Value™ of $5.70 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,023 Retail - Cyclical companies, Marks & Spencer Group ranks worse than 73.12% 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 Marks & Spencer Group's Debt-to-Equity or its related term are showing as below:
MAKSF'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.71 Med: 1.23 Max: 1.79
Current: 1.12
During the past 13 years, the highest Debt-to-Equity Ratio of Marks & Spencer Group was 1.79. The lowest was 0.71. And the median was 1.23.
MAKSF's Debt-to-Equity is ranked worse than 73.12% of 1023
companies
in the Retail - Cyclical industry
Industry Median: 0.56
vs MAKSF: 1.12
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.
Marks & Spencer Group Debt-to-Equity Related Terms
Marks & Spencer Group Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Marks & Spencer Group'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 Department Stores subindustry, Marks & Spencer Group'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.
Marks & Spencer Group Debt-to-Equity vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Marks & Spencer Group's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Marks & Spencer Group'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.
Marks & Spencer Group (MAKSF) has a Debt-to-Equity of 1.12 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Marks & Spencer Group and its competitors. This is near median its historical median of 1.23. Over the past decade, Marks & Spencer Group's Debt-to-Equity has ranged from 0.71 to 1.79. According to the industry distribution chart, Marks & Spencer Group ranks #748 out of 1023 companies in the Retail - Cyclical industry, placing it in the top 73.1%.
Is Marks & Spencer Group's Debt-to-Equity too high?
Marks & Spencer Group's current Debt-to-Equity of 1.12 is near median its 10-year median of 1.23. Over the past 10 years, this metric has ranged from a low of 0.71 to a high of 1.79. The Retail - Cyclical industry median Debt-to-Equity is 0.56. Marks & Spencer Group's value of 1.12 is 100% above this industry median. Based on the distribution chart, Marks & Spencer Group ranks #748 out of 1023 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Marks & Spencer Group has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Marks & Spencer Group's Debt-to-Equity compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, Marks & Spencer Group ranks #748 out of 1023 companies for Debt-to-Equity. This places Marks & Spencer Group in the lower half of its industry. The industry median Debt-to-Equity is 0.56. Marks & Spencer Group's value of 1.12 is 100% above this benchmark. Historically, Marks & Spencer Group's own Debt-to-Equity has ranged from 0.71 to 1.79 over the past decade. While the company's 10-year median is 1.23 vs. the industry median of 0.56, Marks & Spencer Group 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 Retail - Cyclical company?
The median Debt-to-Equity among Retail - Cyclical companies is 0.56, based on 1,023 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. Marks & Spencer Group's current Debt-to-Equity of 1.12 is 100% 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 Marks & Spencer Group and its competitors. For the Retail - Cyclical industry, the median Debt-to-Equity is 0.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Marks & Spencer Group's current Debt-to-Equity is 1.12, which is near median its own 10-year median of 1.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marks & Spencer Group stock overvalued right now?
Based on GuruFocus' analysis, Marks & Spencer Group (MAKSF) is currently considered Modestly Undervalued. The stock's GF Value™ is $5.70, compared to a current price of $5.05 — trading 11.4% below its estimated fair value. The current Debt-to-Equity is 1.12, which is near median its 10-year median of 1.23 and 100% above the Retail - Cyclical industry median of 0.56. Marks & Spencer Group's overall GF Score™ is 83/100 with 3 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 Marks & Spencer Group (MAKSF), the current Debt-to-Equity is 1.12 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 Marks & Spencer Group (MAKSF) Overvalued in 2026?
Based on GuruFocus' analysis, Marks & Spencer Group stock appears to be undervalued.
The current stock price of $5.05 is trading 11.4% below its estimated GF Value™ of $5.70.
GuruFocus considers Marks & Spencer Group to be Modestly Undervalued.
Key valuation signals for MAKSF:
Debt-to-Equity: 1.12 (near median its 10-year median of 1.23)
GF Value™: $5.70 vs. price of $5.05 (11.4% below fair value)
Industry Position: 100% above the Retail - Cyclical median (#748 of 1023)
No single metric tells the full story. See the MAKSF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Marks & Spencer is a British multichannel retailer with stores across Europe, Asia, and the Middle East. The majority of revenue stems from the firm's UK operations, selling its own-brand food, clothing, and home merchandise predominantly. The food segment includes value products (dairy, poultry, meat, fresh produce), ready-made meals, and healthy items. The clothing and home division sells women's wear, lingerie, men's wear, kids' wear, beauty, and home products. The remaining revenue comes from international sales, where M&S sells through a mix of its own stores, franchises, and online channels.In 2020, the firm entered into a joint venture, purchasing 50% of grocery e-commerce business Ocado Retail. Ocado is the exclusive online distributor of M&S food within the UK.
83GF Score
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