ENCE Energia y Celulosa (XMAD:ENC) Debt-to-Equity: 1.33 (As of Mar. 2026) — 40% 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.

XMAD:ENC ENCE Energia y Celulosa SA XMAD:ENC
61 GF Score
Price €2.38
GF Value €2.53
Valuation Fairly Valued
! 4 Warning Signs
View Full Analysis

What is ENCE Energia y Celulosa Debt-to-Equity?

ENCE Energia y Celulosa XMAD:ENC +0.42% 61 Debt-to-Equity is 1.33 as of Mar. 2026, which is 40% above its 10-year median of 0.95. GuruFocus rates XMAD:ENC with a GF Score™ of 61/100 and a GF Value™ of €2.53 (Fairly Valued). The stock has 4 warning signs investors should review. Among 257 Forest Products companies, ENCE Energia y Celulosa ranks worse than 84.05% on this metric.

ENCE Energia y Celulosa's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was €120.6 Mil. ENCE Energia y Celulosa's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was €491.0 Mil. ENCE Energia y Celulosa's Total Stockholders Equity for the quarter that ended in Mar. 2026 was €459.3 Mil. ENCE Energia y Celulosa's debt to equity for the quarter that ended in Mar. 2026 was 1.33.

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 ENCE Energia y Celulosa's Debt-to-Equity or its related term are showing as below:

XMAD:ENC' s Debt-to-Equity Range Over the Past 10 Years
Min: 0.47   Med: 0.95   Max: 1.49
Current: 1.33

During the past 13 years, the highest Debt-to-Equity Ratio of ENCE Energia y Celulosa was 1.49. The lowest was 0.47. And the median was 0.95.

XMAD:ENC's Debt-to-Equity is ranked worse than
84.05% of 257 companies
in the Forest Products industry
Industry Median: 0.48 vs XMAD:ENC: 1.33

ENCE Energia y Celulosa  (XMAD:ENC) 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.


ENCE Energia y Celulosa Debt-to-Equity Related Terms


ENCE Energia y Celulosa Debt-to-Equity Historical Data

* Premium members only.

The historical data trend for ENCE Energia y Celulosa'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.

ENCE Energia y Celulosa Debt-to-Equity Chart

ENCE Energia y Celulosa 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 0.90 0.47 1.02 1.04 1.17

ENCE Energia y Celulosa 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 1.27 1.10 1.29 1.17 1.33

XMAD:ENC vs SLVM: Debt-to-Equity Comparison

For the Paper & Paper Products subindustry, ENCE Energia y Celulosa'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.


ENCE Energia y Celulosa Debt-to-Equity vs Forest Products Industry

For the Forest Products industry and Basic Materials sector, ENCE Energia y Celulosa's Debt-to-Equity distribution charts can be found below:

* The bar in red indicates where ENCE Energia y Celulosa's Debt-to-Equity falls into.


XMAD:ENC
61GF Score
ENCE Energia y Celulosa SA XMAD:ENC
Debt-to-Equity is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ENCE Energia y Celulosa Debt-to-Equity Calculation

Debt to Equity measures the financial leverage a company has.

ENCE Energia y Celulosa's Debt to Equity Ratio for the fiscal year that ended in Dec. 2025 is calculated as

ENCE Energia y Celulosa'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 1.33 mean?
ENCE Energia y Celulosa (XMAD:ENC) has a Debt-to-Equity of 1.33 as of Mar. 2026. Debt-to-Equity ratio represents the ratio of total debt to total company equity. View historical data on ENCE Energia y Celulosa and its competitors. This is 40% above median its historical median of 0.95. Over the past decade, ENCE Energia y Celulosa's Debt-to-Equity has ranged from 0.47 to 1.49. According to the industry distribution chart, ENCE Energia y Celulosa ranks #216 out of 257 companies in the Forest Products industry, placing it in the top 84%.
Is ENCE Energia y Celulosa's Debt-to-Equity too high?
ENCE Energia y Celulosa's current Debt-to-Equity of 1.33 is 40% above median its 10-year median of 0.95. Over the past 10 years, this metric has ranged from a low of 0.47 to a high of 1.49. The Forest Products industry median Debt-to-Equity is 0.48. ENCE Energia y Celulosa's value of 1.33 is 177.1% above this industry median. Based on the distribution chart, ENCE Energia y Celulosa ranks #216 out of 257 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, ENCE Energia y Celulosa has a GF Score™ of 61/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does ENCE Energia y Celulosa's Debt-to-Equity compare to SLVM?
According to the Forest Products industry distribution chart, ENCE Energia y Celulosa ranks #216 out of 257 companies for Debt-to-Equity. This places ENCE Energia y Celulosa in the lower half of its industry. The industry median Debt-to-Equity is 0.48. ENCE Energia y Celulosa's value of 1.33 is 177.1% above this benchmark. Historically, ENCE Energia y Celulosa's own Debt-to-Equity has ranged from 0.47 to 1.49 over the past decade. While the company's 10-year median is 0.95 vs. the industry median of 0.48, ENCE Energia y Celulosa 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 Forest Products company?
The median Debt-to-Equity among Forest Products companies is 0.48, based on 257 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. ENCE Energia y Celulosa's current Debt-to-Equity of 1.33 is 177.1% 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 ENCE Energia y Celulosa and its competitors. For the Forest Products industry, the median Debt-to-Equity is 0.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ENCE Energia y Celulosa's current Debt-to-Equity is 1.33, which is 40% above median its own 10-year median of 0.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ENCE Energia y Celulosa stock overvalued right now?
Based on GuruFocus' analysis, ENCE Energia y Celulosa (XMAD:ENC) is currently considered Fairly Valued. The stock's GF Value™ is €2.53, compared to a current price of €2.38 — trading 5.8% below its estimated fair value. The current Debt-to-Equity is 1.33, which is 40% above median its 10-year median of 0.95 and 177.1% above the Forest Products industry median of 0.48. ENCE Energia y Celulosa's overall GF Score™ is 61/100 with 4 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 ENCE Energia y Celulosa (XMAD:ENC), the current Debt-to-Equity is 1.33 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 ENCE Energia y Celulosa (XMAD:ENC) Overvalued in 2026?

Based on GuruFocus' analysis, ENCE Energia y Celulosa stock appears to be undervalued. The current stock price of €2.38 is trading 5.8% below its estimated GF Value™ of €2.53. GuruFocus considers ENCE Energia y Celulosa to be Fairly Valued.

Key valuation signals for XMAD:ENC:

  • Debt-to-Equity: 1.33 (40% above median its 10-year median of 0.95)
  • GF Value™: €2.53 vs. price of €2.38 (5.8% below fair value)
  • GF Score™: 61/100 with 4 warning signs
  • Industry Position: 177.1% above the Forest Products median (#216 of 257)

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


ENCE Energia y Celulosa Business Description

Other Exchanges 0K96:UKENCA:Germany
Address Estebanez Calderon 3-5, 2nd floor, Madrid, ESP, 28020
ENCE Energia y Celulosa SA produces and sells pulp. The company has two segments namely ENCE Pulp and ENCE Renewables. ENCE Pulp segment includes pulp production and sale activities. ENCE Renewables segment involves Biomass, Biomethane, and production of renewable industrial heat.
61GF Score

Get the complete analysis for XMAD:ENC

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

€2.38
Price
€2.53
GF Value