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Happy SteelsNSE:HAPPY -2.75%19 Debt-to-Equity is 1.18 as of Mar. 2026, which is 6% above its 10-year median of 1.11. GuruFocus rates NSE:HAPPY with a GF Score™ of 19/100. The stock has 1 warning sign investors should review. Among 1,219 Vehicles & Parts companies, Happy Steels ranks worse than 79.98% 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 Happy Steels's Debt-to-Equity or its related term are showing as below:
NSE:HAPPY'
s Debt-to-Equity Range Over the Past 10 Years
Min: 1.02 Med: 1.11 Max: 1.18
Current: 1.18
During the past 4 years, the highest Debt-to-Equity Ratio of Happy Steels was 1.18. The lowest was 1.02. And the median was 1.11.
NSE:HAPPY's Debt-to-Equity is ranked worse than 79.98% of 1219
companies
in the Vehicles & Parts industry
Industry Median: 0.46
vs NSE:HAPPY: 1.18
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.
Happy Steels Debt-to-Equity Related Terms
Happy Steels Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for Happy Steels'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.
Happy Steels Debt-to-Equity Chart
Happy Steels Annual Data
Trend
Mar23
Mar24
Mar25
Mar26
Debt-to-Equity
1.02
1.17
1.04
1.18
Happy Steels Semi-Annual Data
Mar23
Mar24
Mar25
Sep25
Mar26
Debt-to-Equity
1.02
1.17
1.04
1.15
1.18
NSE:HAPPY vs ORLY, AZO, GPC: Debt-to-Equity Comparison
For the Auto Parts subindustry, Happy Steels'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.
Happy Steels Debt-to-Equity vs Vehicles & Parts Industry
For the Vehicles & Parts industry and Consumer Cyclical sector, Happy Steels's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where Happy Steels'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.
Happy Steels (NSE:HAPPY) has a Debt-to-Equity of 1.18 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Happy Steels and its competitors. This is near median its historical median of 1.11. Over the past decade, Happy Steels' Debt-to-Equity has ranged from 1.02 to 1.18. According to the industry distribution chart, Happy Steels ranks #975 out of 1219 companies in the Vehicles & Parts industry, placing it in the top 80%.
Is Happy Steels' Debt-to-Equity too high?
Happy Steels' current Debt-to-Equity of 1.18 is near median its 10-year median of 1.11. Over the past 10 years, this metric has ranged from a low of 1.02 to a high of 1.18. The Vehicles & Parts industry median Debt-to-Equity is 0.46. Happy Steels' value of 1.18 is 156.5% above this industry median. Based on the distribution chart, Happy Steels ranks #975 out of 1219 companies in the Vehicles & Parts industry, which is in the bottom quartile relative to peers. Overall, Happy Steels has a GF Score™ of 19/100, reflecting its overall financial health beyond just this single metric.
How does Happy Steels' Debt-to-Equity compare to ORLY and AZO?
According to the Vehicles & Parts industry distribution chart, Happy Steels ranks #975 out of 1219 companies for Debt-to-Equity. This places Happy Steels in the lower half of its industry. The industry median Debt-to-Equity is 0.46. Happy Steels' value of 1.18 is 156.5% above this benchmark. Historically, Happy Steels' own Debt-to-Equity has ranged from 1.02 to 1.18 over the past decade. While the company's 10-year median is 1.11 vs. the industry median of 0.46, Happy Steels 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 Vehicles & Parts company?
The median Debt-to-Equity among Vehicles & Parts companies is 0.46, based on 1,219 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. Happy Steels's current Debt-to-Equity of 1.18 is 156.5% 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 Happy Steels and its competitors. For the Vehicles & Parts industry, the median Debt-to-Equity is 0.46 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Happy Steels's current Debt-to-Equity is 1.18, which is near median its own 10-year median of 1.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Happy Steels stock overvalued right now?
Happy Steels (NSE:HAPPY) has a current Debt-to-Equity of 1.18. The current Debt-to-Equity is 1.18, which is near median its 10-year median of 1.11 and 156.5% above the Vehicles & Parts industry median of 0.46. Happy Steels' overall GF Score™ is 19/100 with 1 warning sign 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 Happy Steels (NSE:HAPPY), the current Debt-to-Equity is 1.18 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.
Happy Steels Ltd is an integrated manufacturer of Forged and Machined Transmission and Driveline components for On-highway vehicles, Off-highway vehicles, EVs, and defence applications. The company's product portfolio consists of axles, long spline shafts, spindles, and other related components. The majority of the company's revenue is derived from the sale of its products, mainly Axles, in the domestic markets.
19GF Score
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