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Nine Dragons Paper (Holdings)NDGPF 49 Debt-to-Equity is 1.45 as of Dec. 2025, which is 54% above its 10-year median of 0.94. GuruFocus rates NDGPF with a GF Score™ of 49/100 and a GF Value™ of $0.63 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 256 Forest Products companies, Nine Dragons Paper (Holdings) ranks worse than 86.72% 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 Nine Dragons Paper (Holdings)'s Debt-to-Equity or its related term are showing as below:
NDGPF'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.6 Med: 0.94 Max: 1.54
Current: 1.45
During the past 13 years, the highest Debt-to-Equity Ratio of Nine Dragons Paper (Holdings) was 1.54. The lowest was 0.60. And the median was 0.94.
NDGPF's Debt-to-Equity is ranked worse than 86.72% of 256
companies
in the Forest Products industry
Industry Median: 0.48
vs NDGPF: 1.45
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.
Nine Dragons Paper (Holdings) Debt-to-Equity Related Terms
Nine Dragons Paper (Holdings) Debt-to-Equity Historical Data
* 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.
Nine Dragons Paper (Holdings) Debt-to-Equity Chart
Nine Dragons Paper (Holdings) Debt-to-Equity Competitor Comparison
For the Paper & Paper Products subindustry, Nine Dragons Paper (Holdings)'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.
Nine Dragons Paper (Holdings) Debt-to-Equity vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Nine Dragons Paper (Holdings)'s Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Nine Dragons Paper (Holdings)'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.
Nine Dragons Paper (Holdings) (NDGPF) has a Debt-to-Equity of 1.45 as of Dec. 2025. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Nine Dragons Paper (Holdings) and its competitors. This is 54% above median its historical median of 0.94. Over the past decade, Nine Dragons Paper (Holdings)'s Debt-to-Equity has ranged from 0.60 to 1.54. According to the industry distribution chart, Nine Dragons Paper (Holdings) ranks #222 out of 256 companies in the Forest Products industry, placing it in the top 86.7%.
Is Nine Dragons Paper (Holdings)'s Debt-to-Equity too high?
Nine Dragons Paper (Holdings)'s current Debt-to-Equity of 1.45 is 54% above median its 10-year median of 0.94. Over the past 10 years, this metric has ranged from a low of 0.60 to a high of 1.54. The Forest Products industry median Debt-to-Equity is 0.48. Nine Dragons Paper (Holdings)'s value of 1.45 is 202.1% above this industry median. Based on the distribution chart, Nine Dragons Paper (Holdings) ranks #222 out of 256 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, Nine Dragons Paper (Holdings) has a GF Score™ of 49/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Nine Dragons Paper (Holdings)'s Debt-to-Equity compare to competitors?
According to the Forest Products industry distribution chart, Nine Dragons Paper (Holdings) ranks #222 out of 256 companies for Debt-to-Equity. This places Nine Dragons Paper (Holdings) in the lower half of its industry. The industry median Debt-to-Equity is 0.48. Nine Dragons Paper (Holdings)'s value of 1.45 is 202.1% above this benchmark. Historically, Nine Dragons Paper (Holdings)'s own Debt-to-Equity has ranged from 0.60 to 1.54 over the past decade. While the company's 10-year median is 0.94 vs. the industry median of 0.48, Nine Dragons Paper (Holdings) 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 Forest Products company?
The median Debt-to-Equity among Forest Products companies is 0.48, based on 256 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. Nine Dragons Paper (Holdings)'s current Debt-to-Equity of 1.45 is 202.1% 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 Nine Dragons Paper (Holdings) and its competitors. For the Forest Products industry, the median Debt-to-Equity is 0.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nine Dragons Paper (Holdings)'s current Debt-to-Equity is 1.45, which is 54% above median its own 10-year median of 0.94. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nine Dragons Paper (Holdings) stock overvalued right now?
Based on GuruFocus' analysis, Nine Dragons Paper (Holdings) (NDGPF) is currently considered Significantly Overvalued. The stock's GF Value™ is $0.63, compared to a current price of $0.95 — trading 50.8% above its estimated fair value. The current Debt-to-Equity is 1.45, which is 54% above median its 10-year median of 0.94 and 202.1% above the Forest Products industry median of 0.48. Nine Dragons Paper (Holdings)'s overall GF Score™ is 49/100 with 6 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 Nine Dragons Paper (Holdings) (NDGPF), the current Debt-to-Equity is 1.45 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 Nine Dragons Paper (Holdings) (NDGPF) Overvalued in 2026?
Based on GuruFocus' analysis, Nine Dragons Paper (Holdings) stock appears to be overvalued.
The current stock price of $0.95 is trading 50.8% above its estimated GF Value™ of $0.63.
GuruFocus considers Nine Dragons Paper (Holdings) to be Significantly Overvalued.
Key valuation signals for NDGPF:
Debt-to-Equity: 1.45 (54% above median its 10-year median of 0.94)
GF Value™: $0.63 vs. price of $0.95 (50.8% above fair value)
Industry Position: 202.1% above the Forest Products median (#222 of 256)
No single metric tells the full story. See the NDGPF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nine Dragons Paper (Holdings) Ltd operates as a paper products manufacturer. The company is a pulp and paper manufacturing group specializing in the integrated production of pulp and paper, with main products including various kinds of environmentally friendly packaging paper, printing and writing paper, high-end virgin paper, and products from the entire upstream and downstream production chain. Covering the full industry spectrum, it offers kraftlinerboard, testlinerboard, white top linerboard, coated linerboard, bleached folding boxboard, high-performance corrugating medium, coated duplex board, gypsum board cover paper, and more.
49GF Score
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Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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