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Firstsource SolutionsNSE:FSL -4.80%82 Debt-to-Equity is 0.67 as of Mar. 2026, which is 49% above its 10-year median of 0.45. GuruFocus rates NSE:FSL with a GF Score™ of 82/100 and a GF Value™ of ₹378.00 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 2,243 Software companies, Firstsource Solutions ranks worse than 76.77% 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 Firstsource Solutions's Debt-to-Equity or its related term are showing as below:
NSE:FSL'
s Debt-to-Equity Range Over the Past 10 Years
Min: 0.21 Med: 0.45 Max: 0.67
Current: 0.67
During the past 13 years, the highest Debt-to-Equity Ratio of Firstsource Solutions was 0.67. The lowest was 0.21. And the median was 0.45.
NSE:FSL's Debt-to-Equity is ranked worse than 76.77% of 2243
companies
in the Software industry
Industry Median: 0.2
vs NSE:FSL: 0.67
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.
Firstsource Solutions Debt-to-Equity Related Terms
Firstsource Solutions Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Firstsource Solutions'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.
NSE:FSL vs IBM, ACN, FISV: Debt-to-Equity Comparison
For the Information Technology Services subindustry, Firstsource Solutions'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.
Firstsource Solutions Debt-to-Equity vs Software Industry
For the Software industry and Technology sector, Firstsource Solutions's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Firstsource Solutions'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.
Firstsource Solutions (NSE:FSL) has a Debt-to-Equity of 0.67 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Firstsource Solutions and its competitors. This is 49% above median its historical median of 0.45. Over the past decade, Firstsource Solutions' Debt-to-Equity has ranged from 0.21 to 0.67. According to the industry distribution chart, Firstsource Solutions ranks #1722 out of 2243 companies in the Software industry, placing it in the top 76.8%.
Is Firstsource Solutions' Debt-to-Equity too high?
Firstsource Solutions' current Debt-to-Equity of 0.67 is 49% above median its 10-year median of 0.45. Over the past 10 years, this metric has ranged from a low of 0.21 to a high of 0.67. The Software industry median Debt-to-Equity is 0.20. Firstsource Solutions' value of 0.67 is 235% above this industry median. Based on the distribution chart, Firstsource Solutions ranks #1722 out of 2243 companies in the Software industry, which is in the bottom quartile relative to peers. Overall, Firstsource Solutions has a GF Score™ of 82/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Firstsource Solutions' Debt-to-Equity compare to IBM and ACN?
According to the Software industry distribution chart, Firstsource Solutions ranks #1722 out of 2243 companies for Debt-to-Equity. This places Firstsource Solutions in the lower half of its industry. The industry median Debt-to-Equity is 0.20. Firstsource Solutions' value of 0.67 is 235% above this benchmark. Historically, Firstsource Solutions' own Debt-to-Equity has ranged from 0.21 to 0.67 over the past decade. While the company's 10-year median is 0.45 vs. the industry median of 0.20, Firstsource Solutions 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 Software company?
The median Debt-to-Equity among Software companies is 0.20, based on 2,243 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. Firstsource Solutions's current Debt-to-Equity of 0.67 is 235% 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 Firstsource Solutions and its competitors. For the Software industry, the median Debt-to-Equity is 0.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Firstsource Solutions's current Debt-to-Equity is 0.67, which is 49% above median its own 10-year median of 0.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Firstsource Solutions stock overvalued right now?
Based on GuruFocus' analysis, Firstsource Solutions (NSE:FSL) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹378.00, compared to a current price of ₹279.85 — trading 26% below its estimated fair value. The current Debt-to-Equity is 0.67, which is 49% above median its 10-year median of 0.45 and 235% above the Software industry median of 0.20. Firstsource Solutions' overall GF Score™ is 82/100 with 2 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 Firstsource Solutions (NSE:FSL), the current Debt-to-Equity is 0.67 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 Firstsource Solutions (NSE:FSL) Overvalued in 2026?
Based on GuruFocus' analysis, Firstsource Solutions stock appears to be undervalued.
The current stock price of ₹279.85 is trading 26% below its estimated GF Value™ of ₹378.00.
GuruFocus considers Firstsource Solutions to be Modestly Undervalued.
Key valuation signals for NSE:FSL:
Debt-to-Equity: 0.67 (49% above median its 10-year median of 0.45)
GF Value™: ₹378.00 vs. price of ₹279.85 (26% below fair value)
Industry Position: 235% above the Software median (#1722 of 2243)
No single metric tells the full story. See the NSE:FSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Firstsource Solutions Ltd is engaged in the business of providing customer management services like contact centers, transaction processing, and debt collection services. The company's business segment includes Banking and Financial Services, Healthcare, Communication, Media and Technology, and Diverse Industries. It generates maximum revenue from the Banking and Financial Services segment. Geographically, it derives a majority of its revenue from the United States of America.
82GF Score
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