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.
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.
Pan African ResourcesASX:PAF -1.16%66 Equity-to-Asset is 0.60 as of Dec. 2025, which is 3% above its 10-year median of 0.58. GuruFocus rates ASX:PAF with a GF Score™ of 66/100 and a GF Value™ of A$1.52 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 2,673 Metals & Mining companies, Pan African Resources ranks worse than 65.81% on this metric.
Pan African Resources (ASX:PAF) Equity-to-Asset Explanation
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
Pan African Resources Equity-to-Asset Related Terms
Pan African Resources Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for Pan African Resources's Equity-to-Asset 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.
For the Gold subindustry, Pan African Resources's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset 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.
Pan African Resources Equity-to-Asset vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Pan African Resources's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Pan African Resources's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
Pan African Resources's Equity to Asset Ratio for the fiscal year that ended in Jun. 2025 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.
Pan African Resources (ASX:PAF) has a Equity-to-Asset of 0.60 as of Dec. 2025. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Pan African Resources and its competitors. This is near median its historical median of 0.58. Over the past decade, Pan African Resources' Equity-to-Asset has ranged from 0.43 to 0.69. According to the industry distribution chart, Pan African Resources ranks #1759 out of 2673 companies in the Metals & Mining industry, placing it in the top 65.8%.
Is Pan African Resources' Equity-to-Asset too high?
Pan African Resources' current Equity-to-Asset of 0.60 is near median its 10-year median of 0.58. Over the past 10 years, this metric has ranged from a low of 0.43 to a high of 0.69. The Metals & Mining industry median Equity-to-Asset is 0.80. Pan African Resources' value of 0.60 is 25% below this industry median. Based on the distribution chart, Pan African Resources ranks #1759 out of 2673 companies in the Metals & Mining industry, which is below the industry midpoint. Overall, Pan African Resources has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pan African Resources' Equity-to-Asset compare to NEM and AU?
According to the Metals & Mining industry distribution chart, Pan African Resources ranks #1759 out of 2673 companies for Equity-to-Asset. This places Pan African Resources in the lower half of its industry. The industry median Equity-to-Asset is 0.80. Pan African Resources' value of 0.60 is 25% below this benchmark. Historically, Pan African Resources' own Equity-to-Asset has ranged from 0.43 to 0.69 over the past decade. While the company's 10-year median is 0.58 vs. the industry median of 0.80, Pan African Resources 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 Equity-to-Asset for a Metals & Mining company?
The median Equity-to-Asset among Metals & Mining companies is 0.80, based on 2,673 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Pan African Resources's current Equity-to-Asset of 0.60 is 25% 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 Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Pan African Resources and its competitors. For the Metals & Mining industry, the median Equity-to-Asset is 0.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pan African Resources's current Equity-to-Asset is 0.60, which is near median its own 10-year median of 0.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pan African Resources stock overvalued right now?
Based on GuruFocus' analysis, Pan African Resources (ASX:PAF) is currently considered Significantly Overvalued. The stock's GF Value™ is A$1.52, compared to a current price of A$2.56 — trading 68.4% above its estimated fair value. The current Equity-to-Asset is 0.60, which is near median its 10-year median of 0.58 and 25% below the Metals & Mining industry median of 0.80. Pan African Resources' overall GF Score™ is 66/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For Pan African Resources (ASX:PAF), the current Equity-to-Asset is 0.60 as of Dec. 2025. 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 Pan African Resources (ASX:PAF) Overvalued in 2026?
Based on GuruFocus' analysis, Pan African Resources stock appears to be overvalued.
The current stock price of A$2.56 is trading 68.4% above its estimated GF Value™ of A$1.52.
GuruFocus considers Pan African Resources to be Significantly Overvalued.
Key valuation signals for ASX:PAF:
Equity-to-Asset: 0.60 (near median its 10-year median of 0.58)
GF Value™: A$1.52 vs. price of A$2.56 (68.4% above fair value)
Industry Position: 25% below the Metals & Mining median (#1759 of 2673)
No single metric tells the full story. See the ASX:PAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pan African Resources PLC is engaged in gold mining and exploration activities. The group owns and operates a portfolio of projects located in South Africa, Australia, and an exploration project in Sudan. Its project portfolio comprises Fairview Mine, Sheba and Consort Mines, BTRP, Elikhulu, MTR, Evander Mines, and Tennant Mines. The group's reporting segments are: Mining operations and Other operations. Maximum revenue is generated from the Mining operations segment, which generates revenue from mining, extraction, production, and the sale of gold. The Other operations segment represents its exploration assets in Sudan, Agricultural ESG projects, and other activities. Geographically, the group generates maximum revenue from South Africa, followed by Australia, and UK and Europe.
66GF Score
Get the complete analysis for ASX:PAF
Equity-to-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:PAF has been successfully added to your 
