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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 China Bills Finance's Debt-to-Equity or its related term are showing as below:
During the past 13 years, the highest Debt-to-Equity Ratio of China Bills Finance was 0.20. The lowest was 0.00. And the median was 0.09.
TPE:2820's Debt-to-Equity is not ranked *
in the Capital Markets industry.
Industry Median: 0.32 * Ranked among companies with meaningful Debt-to-Equity only.
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.
China Bills Finance Debt-to-Equity Related Terms
China Bills Finance Debt-to-Equity Historical Data
* Premium members only.
The historical data trend for China Bills Finance'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.
TPE:2820 vs MS, GS, SCHW: Debt-to-Equity Comparison
For the Capital Markets subindustry, China Bills Finance'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.
China Bills Finance Debt-to-Equity vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, China Bills Finance's Debt-to-Equity distribution charts can be found below:
* The bar in red indicates where China Bills Finance'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.
China Bills Finance (TPE:2820) has a Debt-to-Equity of 0.00 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on China Bills Finance and its competitors. According to the industry distribution chart, China Bills Finance ranks #999999 out of 609 companies in the Capital Markets industry.
Is China Bills Finance's Debt-to-Equity too high?
China Bills Finance's current Debt-to-Equity is 0.00. Based on the distribution chart, China Bills Finance ranks #999999 out of 609 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, China Bills Finance has a GF Score™ of 76/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Bills Finance's Debt-to-Equity compare to MS and GS?
According to the Capital Markets industry distribution chart, China Bills Finance ranks #999999 out of 609 companies for Debt-to-Equity. This places China Bills Finance in the lower half of its industry. The industry median Debt-to-Equity is 0.32. 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 Capital Markets company?
The median Debt-to-Equity among Capital Markets companies is 0.32, based on 609 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. 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 China Bills Finance and its competitors. For the Capital Markets industry, the median Debt-to-Equity is 0.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Bills Finance's current Debt-to-Equity is 0.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Bills Finance stock overvalued right now?
Based on GuruFocus' analysis, China Bills Finance (TPE:2820) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$26.99, compared to a current price of NT$16.50 — trading 38.9% below its estimated fair value. The current Debt-to-Equity is 0.00. China Bills Finance's overall GF Score™ is 76/100 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 China Bills Finance (TPE:2820), the current Debt-to-Equity is 0.00 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 China Bills Finance (TPE:2820) Overvalued in 2026?
Based on GuruFocus' analysis, China Bills Finance stock appears to be undervalued.
The current stock price of NT$16.50 is trading 38.9% below its estimated GF Value™ of NT$26.99.
GuruFocus considers China Bills Finance to be Significantly Undervalued.
Key valuation signals for TPE:2820:
Debt-to-Equity: 0.00
GF Value™: NT$26.99 vs. price of NT$16.50 (38.9% below fair value)
No single metric tells the full story. See the TPE:2820 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Bills Finance Corp focuses on corporate financing and fixed-income commodities. The company's business activities consist of certifying and underwriting of short-term bills and bank debentures; brokering or undertaking proprietary trading of short-term bills, bank debentures, government and corporate bonds, and foreign bonds; guaranteeing short-term bills; providing financial consulting services to enterprises; processing interbank call loans; equity investments; fixed-income security trading; (h) foreign-currency bills investment; and doing other businesses as authorized by relevant authorities. Its business is concentrated in Taiwan.
76GF Score
Get the complete analysis for TPE:2820
Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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