Bull-Doguce Co (TSE:2804) Debt-to-Equity: 0.17 (As of Mar. 2026) — 325% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

TSE:2804 Bull-Dog Sauce Co Ltd TSE:2804
64 GF Score
Price 円1,871.00
GF Value 円2,145.03
Valuation Modestly Undervalued
! 5 Warning Signs
View Full Analysis

What is Bull-Doguce Co Debt-to-Equity?

Bull-Doguce Co TSE:2804 +0.21% 64 Debt-to-Equity is 0.17 as of Mar. 2026, which is 325% above its 10-year median of 0.04. GuruFocus rates TSE:2804 with a GF Score™ of 64/100 and a GF Value™ of 円2,145.03 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,753 Consumer Packaged Goods companies, Bull-Doguce Co ranks better than 73.3% on this metric.

Bull-Doguce Co's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was 円845 Mil. Bull-Doguce Co's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was 円3,449 Mil. Bull-Doguce Co's Total Stockholders Equity for the quarter that ended in Mar. 2026 was 円25,262 Mil. Bull-Doguce Co's debt to equity for the quarter that ended in Mar. 2026 was 0.17.

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 Bull-Doguce Co's Debt-to-Equity or its related term are showing as below:

TSE:2804' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.02   Med: 0.04   Max: 0.29
Current: 0.16

During the past 13 years, the highest Debt-to-Equity Ratio of Bull-Doguce Co was 0.29. The lowest was 0.02. And the median was 0.04.

TSE:2804's Debt-to-Equity is ranked better than
73.3% of 1753 companies
in the Consumer Packaged Goods industry
Industry Median: 0.42 vs TSE:2804: 0.16

Bull-Doguce Co  (TSE:2804) Debt-to-Equity Explanation

In the calculation of Debt to Equity, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by Total Stockholders Equity. In some calculations, Total Liabilities is used to for calculation.


Be Aware

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.


Bull-Doguce Co Debt-to-Equity Related Terms


Bull-Doguce Co Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for Bull-Doguce Co'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.

Bull-Doguce Co Debt-to-Equity Chart

Bull-Doguce Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Debt-to-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 0.04 0.29 0.29 0.23 0.17

Bull-Doguce Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Debt-to-Equity Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.20 0.19 0.18 0.17 0.16

TSE:2804 vs KHC, GIS: Debt-to-Equity Comparison

For the Packaged Foods subindustry, Bull-Doguce Co'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.


Bull-Doguce Co Debt-to-Equity vs Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Bull-Doguce Co's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where Bull-Doguce Co's Debt-to-Equity falls into.


TSE:2804
64GF Score
Bull-Dog Sauce Co Ltd TSE:2804
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Bull-Doguce Co Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

Bull-Doguce Co's Debt to Equity Ratio for the fiscal year that ended in Mar. 2026 is calculated as

Bull-Doguce Co's Debt to Equity Ratio for the quarter that ended in Mar. 2026 is calculated as

* 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.

Frequently Asked Questions Learn more about Debt-to-Equity →
What does a Debt-to-Equity of 0.17 mean?
Bull-Doguce Co (TSE:2804) has a Debt-to-Equity of 0.17 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on Bull-Doguce Co and its competitors. This is 325% above median its historical median of 0.04. Over the past decade, Bull-Doguce Co's Debt-to-Equity has ranged from 0.02 to 0.29. According to the industry distribution chart, Bull-Doguce Co ranks #468 out of 1753 companies in the Consumer Packaged Goods industry, placing it in the top 26.7%.
Is Bull-Doguce Co's Debt-to-Equity too high?
Bull-Doguce Co's current Debt-to-Equity of 0.17 is 325% above median its 10-year median of 0.04. Over the past 10 years, this metric has ranged from a low of 0.02 to a high of 0.29. The Consumer Packaged Goods industry median Debt-to-Equity is 0.42. Bull-Doguce Co's value of 0.17 is 59.5% below this industry median. Based on the distribution chart, Bull-Doguce Co ranks #468 out of 1753 companies in the Consumer Packaged Goods industry, which is above the industry midpoint. Overall, Bull-Doguce Co has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Bull-Doguce Co's Debt-to-Equity compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Bull-Doguce Co ranks #468 out of 1753 companies for Debt-to-Equity. This puts Bull-Doguce Co in the upper half of its industry. The industry median Debt-to-Equity is 0.42. Bull-Doguce Co's value of 0.17 is 59.5% below this benchmark. Historically, Bull-Doguce Co's own Debt-to-Equity has ranged from 0.02 to 0.29 over the past decade. While the company's 10-year median is 0.04 vs. the industry median of 0.42, Bull-Doguce Co 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 a Consumer Packaged Goods company?
The median Debt-to-Equity among Consumer Packaged Goods companies is 0.42, based on 1,753 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. Bull-Doguce Co's current Debt-to-Equity of 0.17 is 59.5% 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 Bull-Doguce Co and its competitors. For the Consumer Packaged Goods industry, the median Debt-to-Equity is 0.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bull-Doguce Co's current Debt-to-Equity is 0.17, which is 325% above median its own 10-year median of 0.04. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bull-Doguce Co stock overvalued right now?
Based on GuruFocus' analysis, Bull-Doguce Co (TSE:2804) is currently considered Modestly Undervalued. The stock's GF Value™ is 円2,145.03, compared to a current price of 円1,871.00 — trading 12.8% below its estimated fair value. The current Debt-to-Equity is 0.17, which is 325% above median its 10-year median of 0.04 and 59.5% below the Consumer Packaged Goods industry median of 0.42. Bull-Doguce Co's overall GF Score™ is 64/100 with 5 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 Bull-Doguce Co (TSE:2804), the current Debt-to-Equity is 0.17 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 Bull-Doguce Co (TSE:2804) Overvalued in 2026?

Based on GuruFocus' analysis, Bull-Doguce Co stock appears to be undervalued. The current stock price of 円1,871.00 is trading 12.8% below its estimated GF Value™ of 円2,145.03. GuruFocus considers Bull-Doguce Co to be Modestly Undervalued.

Key valuation signals for TSE:2804:

  • Debt-to-Equity: 0.17 (325% above median its 10-year median of 0.04)
  • GF Value™: 円2,145.03 vs. price of 円1,871.00 (12.8% below fair value)
  • GF Score™: 64/100 with 5 warning signs
  • Industry Position: 59.5% below the Consumer Packaged Goods median (#468 of 1753)

No single metric tells the full story. See the TSE:2804 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Bull-Doguce Co Business Description

Address 11-5 Kabuto-cho, Nihonbashi, Chuo-ku, Tokyo, JPN, 103-0026
Bull-Dog Sauce Co Ltd is engaged in the business to manufacture and sale sauces and other seasonings. The product line includes - Okonomiyaki sauce, Yakisoba sauce, Takoyaki sauce, and Cooking sauce.
64GF Score

Get the complete analysis for TSE:2804

Debt-to-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

円1,871.00
Price
円2,145.03
GF Value