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Mercury NZMGHTF +8.44%90 Debt-to-Equity is 0.49 as of Dec. 2025, which is 32% above its 10-year median of 0.37. GuruFocus rates MGHTF with a GF Score™ of 90/100 and a GF Value™ of $4.25. The stock has 11 warning signs investors should review. Among 392 Utilities - Independent Power Producers companies, Mercury NZ ranks better than 64.8% 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 Mercury NZ's Debt-to-Equity or its related term are showing as below:
MGHTF'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.34 Med: 0.37 Max: 0.49
Current: 0.49
During the past 13 years, the highest Debt-to-Equity Ratio of Mercury NZ was 0.49. The lowest was 0.34. And the median was 0.37.
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.
Mercury NZ Debt-to-Equity Related Terms
Mercury NZ Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Mercury NZ'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, Mercury NZ'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.
Mercury NZ Debt-to-Equity vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Mercury NZ's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Mercury NZ'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.
Mercury NZ (MGHTF) has a Debt-to-Equity of 0.49 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Mercury NZ and its competitors. This is 32% above median its historical median of 0.37. Over the past decade, Mercury NZ's Debt-to-Equity has ranged from 0.34 to 0.49. According to the industry distribution chart, Mercury NZ ranks #138 out of 392 companies in the Utilities - Independent Power Producers industry, placing it in the top 35.2%.
Is Mercury NZ's Debt-to-Equity too high?
Mercury NZ's current Debt-to-Equity of 0.49 is 32% above median its 10-year median of 0.37. Over the past 10 years, this metric has ranged from a low of 0.34 to a high of 0.49. The Utilities - Independent Power Producers industry median Debt-to-Equity is 0.85. Mercury NZ's value of 0.49 is 42.4% below this industry median. Based on the distribution chart, Mercury NZ ranks #138 out of 392 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, Mercury NZ has a GF Score™ of 90/100, reflecting its overall financial health beyond just this single metric.
How does Mercury NZ's Debt-to-Equity compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Mercury NZ ranks #138 out of 392 companies for Debt-to-Equity. This puts Mercury NZ in the upper half of its industry. The industry median Debt-to-Equity is 0.85. Mercury NZ's value of 0.49 is 42.4% below this benchmark. Historically, Mercury NZ's own Debt-to-Equity has ranged from 0.34 to 0.49 over the past decade. While the company's 10-year median is 0.37 vs. the industry median of 0.85, Mercury NZ 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. Mercury NZ's current Debt-to-Equity of 0.49 is 42.4% 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 Mercury NZ 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. Mercury NZ's current Debt-to-Equity is 0.49, which is 32% above median its own 10-year median of 0.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mercury NZ stock overvalued right now?
Mercury NZ (MGHTF) has a current Debt-to-Equity of 0.49. The stock's GF Value™ is $4.25, compared to a current price of $4.37 — trading 2.8% above its estimated fair value. The current Debt-to-Equity is 0.49, which is 32% above median its 10-year median of 0.37 and 42.4% below the Utilities - Independent Power Producers industry median of 0.85. Mercury NZ's overall GF Score™ is 90/100 with 11 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 Mercury NZ (MGHTF), the current Debt-to-Equity is 0.49 as of Dec. 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.
Is Mercury NZ (MGHTF) Overvalued in 2026?
Based on GuruFocus' analysis, Mercury NZ stock appears to be overvalued.
The current stock price of $4.37 is trading 2.8% above its estimated GF Value™ of $4.25.
Key valuation signals for MGHTF:
Debt-to-Equity: 0.49 (32% above median its 10-year median of 0.37)
GF Value™: $4.25 vs. price of $4.37 (2.8% above fair value)
Industry Position: 42.4% below the Utilities - Independent Power Producers median (#138 of 392)
No single metric tells the full story. See the MGHTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Mercury NZ (formerly Mighty River Power) generates more than 15% of New Zealand's electricity and is one of the four major electricity generators and suppliers in the country. All electricity is generated from renewable sources, which makes it one of the lowest-cost providers of electricity. The company operates nine hydro stations and five geothermal power plants in the North Island and some wind farms. Mercury sells electricity to residential and commercial customers and has the largest share of the key Auckland market.
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