BRAS (WAR:BSA) Debt-to-Equity: 1.14 (As of Mar. 2026) — 81% 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.

WAR:BSA BRAS SA WAR:BSA
38 GF Score
Price zł0.20
GF Value zł0.09
Valuation Significantly Overvalued
! 6 Warning Signs
View Full Analysis

What is BRAS Debt-to-Equity?

BRAS WAR:BSA -0.50% 38 Debt-to-Equity is 1.14 as of Mar. 2026, which is 81% above its 10-year median of 0.63. GuruFocus rates WAR:BSA with a GF Score™ of 38/100 and a GF Value™ of zł0.09 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 470 Utilities - Regulated companies, BRAS ranks worse than 55.32% on this metric.

BRAS's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was zł0.65 Mil. BRAS's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was zł5.87 Mil. BRAS's Total Stockholders Equity for the quarter that ended in Mar. 2026 was zł5.73 Mil. BRAS's debt to equity for the quarter that ended in Mar. 2026 was 1.14.

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 BRAS's Debt-to-Equity or its related term are showing as below:

WAR:BSA' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.01   Med: 0.63   Max: 2.34
Current: 1.14

During the past 13 years, the highest Debt-to-Equity Ratio of BRAS was 2.34. The lowest was 0.01. And the median was 0.63.

WAR:BSA's Debt-to-Equity is ranked worse than
55.32% of 470 companies
in the Utilities - Regulated industry
Industry Median: 0.99 vs WAR:BSA: 1.14

BRAS  (WAR:BSA) 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.


BRAS Debt-to-Equity Related Terms


BRAS Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for BRAS'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.

BRAS Debt-to-Equity Chart

BRAS Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-Equity
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.11 1.06 1.57 2.34 1.18

BRAS Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 1.34 1.50 1.46 1.18 1.14

WAR:BSA vs NEE, SO, DUK: Debt-to-Equity Comparison

For the Utilities - Regulated Electric subindustry, BRAS'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.


BRAS Debt-to-Equity vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, BRAS's Debt-to-Equity distribution charts can be found below:

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


WAR:BSA
38GF Score
BRAS SA WAR:BSA
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BRAS Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

BRAS's Debt to Equity Ratio for the fiscal year that ended in Dec. 2025 is calculated as

BRAS'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 1.14 mean?
BRAS (WAR:BSA) has a Debt-to-Equity of 1.14 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on BRAS and its competitors. This is 81% above median its historical median of 0.63. Over the past decade, BRAS's Debt-to-Equity has ranged from 0.01 to 2.34. According to the industry distribution chart, BRAS ranks #260 out of 470 companies in the Utilities - Regulated industry, placing it in the top 55.3%.
Is BRAS's Debt-to-Equity too high?
BRAS's current Debt-to-Equity of 1.14 is 81% above median its 10-year median of 0.63. Over the past 10 years, this metric has ranged from a low of 0.01 to a high of 2.34. The Utilities - Regulated industry median Debt-to-Equity is 0.99. BRAS's value of 1.14 is 15.2% above this industry median. Based on the distribution chart, BRAS ranks #260 out of 470 companies in the Utilities - Regulated industry, which is below the industry midpoint. Overall, BRAS has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BRAS's Debt-to-Equity compare to NEE and SO?
According to the Utilities - Regulated industry distribution chart, BRAS ranks #260 out of 470 companies for Debt-to-Equity. This places BRAS in the lower half of its industry. The industry median Debt-to-Equity is 0.99. BRAS's value of 1.14 is 15.2% above this benchmark. Historically, BRAS's own Debt-to-Equity has ranged from 0.01 to 2.34 over the past decade. While the company's 10-year median is 0.63 vs. the industry median of 0.99, BRAS 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 an Utilities - Regulated company?
The median Debt-to-Equity among Utilities - Regulated companies is 0.99, based on 470 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. BRAS's current Debt-to-Equity of 1.14 is 15.2% 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 BRAS and its competitors. For the Utilities - Regulated industry, the median Debt-to-Equity is 0.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. BRAS's current Debt-to-Equity is 1.14, which is 81% above median its own 10-year median of 0.63. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BRAS stock overvalued right now?
Based on GuruFocus' analysis, BRAS (WAR:BSA) is currently considered Significantly Overvalued. The stock's GF Value™ is zł0.09, compared to a current price of zł0.20 — trading 120% above its estimated fair value. The current Debt-to-Equity is 1.14, which is 81% above median its 10-year median of 0.63 and 15.2% above the Utilities - Regulated industry median of 0.99. BRAS's overall GF Score™ is 38/100 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 BRAS (WAR:BSA), the current Debt-to-Equity is 1.14 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 BRAS (WAR:BSA) Overvalued in 2026?

Based on GuruFocus' analysis, BRAS stock appears to be overvalued. The current stock price of zł0.20 is trading 120% above its estimated GF Value™ of zł0.09. GuruFocus considers BRAS to be Significantly Overvalued.

Key valuation signals for WAR:BSA:

  • Debt-to-Equity: 1.14 (81% above median its 10-year median of 0.63)
  • GF Value™: zł0.09 vs. price of zł0.20 (120% above fair value)
  • GF Score™: 38/100 with 6 warning signs
  • Industry Position: 15.2% above the Utilities - Regulated median (#260 of 470)

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


BRAS Business Description

Address Gronowa Street 22, Poznan, POL, 61-655
BRAS SA is engaged in the energy sector. The company focuses its activities on the trade and distribution of electricity and power generation from renewable sources and the production of bio-components. It also provides consulting services.
38GF Score

Get the complete analysis for WAR:BSA

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

zł0.20
Price
zł0.09
GF Value