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Spark New ZealandASX:SPK -0.60%67 Equity-to-Asset is 0.31 as of Dec. 2025, which is 14% below its 10-year median of 0.36. GuruFocus rates ASX:SPK with a GF Score™ of 67/100 and a GF Value™ of A$2.72 (Significantly Undervalued). The stock has 8 warning signs investors should review. Among 367 Telecommunication Services companies, Spark New Zealand ranks worse than 63.76% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. Spark New Zealand's Total Stockholders Equity for the quarter that ended in Dec. 2025 was A$1,179 Mil. Spark New Zealand's Total Assets for the quarter that ended in Dec. 2025 was A$3,816 Mil.
Therefore, Spark New Zealand's Equity to Asset Ratio for the quarter that ended in Dec. 2025 was 0.31.
The historical rank and industry rank for Spark New Zealand's Equity-to-Asset or its related term are showing as below:
ASX:SPK'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0.29 Med: 0.36 Max: 0.52
Current: 0.31
During the past 13 years, the highest Equity to Asset Ratio of Spark New Zealand was 0.52. The lowest was 0.29. And the median was 0.36.
ASX:SPK's Equity-to-Asset is ranked worse than 63.76% of 367
companies
in the Telecommunication Services industry
Industry Median: 0.4
vs ASX:SPK: 0.31
Spark New Zealand (ASX:SPK) 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%.
Spark New Zealand Equity-to-Asset Related Terms
Spark New Zealand Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for Spark New Zealand'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.
ASX:SPK vs VZ, TMUS, T: Equity-to-Asset Comparison
For the Telecom Services subindustry, Spark New Zealand'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.
Spark New Zealand Equity-to-Asset vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Spark New Zealand's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Spark New Zealand'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.
Spark New Zealand'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.
Spark New Zealand (ASX:SPK) has a Equity-to-Asset of 0.31 as of Dec. 2025. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Spark New Zealand and its competitors. This is 14% below median its historical median of 0.36. Over the past decade, Spark New Zealand's Equity-to-Asset has ranged from 0.29 to 0.52. According to the industry distribution chart, Spark New Zealand ranks #234 out of 367 companies in the Telecommunication Services industry, placing it in the top 63.8%.
Is Spark New Zealand's Equity-to-Asset too high?
Spark New Zealand's current Equity-to-Asset of 0.31 is 14% below median its 10-year median of 0.36. Over the past 10 years, this metric has ranged from a low of 0.29 to a high of 0.52. The Telecommunication Services industry median Equity-to-Asset is 0.40. Spark New Zealand's value of 0.31 is 22.5% below this industry median. Based on the distribution chart, Spark New Zealand ranks #234 out of 367 companies in the Telecommunication Services industry, which is below the industry midpoint. Overall, Spark New Zealand has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spark New Zealand's Equity-to-Asset compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Spark New Zealand ranks #234 out of 367 companies for Equity-to-Asset. This places Spark New Zealand in the lower half of its industry. The industry median Equity-to-Asset is 0.40. Spark New Zealand's value of 0.31 is 22.5% below this benchmark. Historically, Spark New Zealand's own Equity-to-Asset has ranged from 0.29 to 0.52 over the past decade. While the company's 10-year median is 0.36 vs. the industry median of 0.40, Spark New Zealand 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 Telecommunication Services company?
The median Equity-to-Asset among Telecommunication Services companies is 0.40, based on 367 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. Spark New Zealand's current Equity-to-Asset of 0.31 is 22.5% 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 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 Spark New Zealand and its competitors. For the Telecommunication Services industry, the median Equity-to-Asset is 0.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spark New Zealand's current Equity-to-Asset is 0.31, which is 14% below median its own 10-year median of 0.36. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spark New Zealand stock overvalued right now?
Based on GuruFocus' analysis, Spark New Zealand (ASX:SPK) is currently considered Significantly Undervalued. The stock's GF Value™ is A$2.72, compared to a current price of A$1.65 — trading 39.5% below its estimated fair value. The current Equity-to-Asset is 0.31, which is 14% below median its 10-year median of 0.36 and 22.5% below the Telecommunication Services industry median of 0.40. Spark New Zealand's overall GF Score™ is 67/100 with 8 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 Spark New Zealand (ASX:SPK), the current Equity-to-Asset is 0.31 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 Spark New Zealand (ASX:SPK) Overvalued in 2026?
Based on GuruFocus' analysis, Spark New Zealand stock appears to be undervalued.
The current stock price of A$1.65 is trading 39.5% below its estimated GF Value™ of A$2.72.
GuruFocus considers Spark New Zealand to be Significantly Undervalued.
Key valuation signals for ASX:SPK:
Equity-to-Asset: 0.31 (14% below median its 10-year median of 0.36)
GF Value™: A$2.72 vs. price of A$1.65 (39.5% below fair value)
Industry Position: 22.5% below the Telecommunication Services median (#234 of 367)
No single metric tells the full story. See the ASX:SPK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spark is one of only three integrated telecommunications companies in New Zealand. It is the leading mobile network operator with low- to mid-40% subscriber and revenue share, and the dominant provider of fixed-line broadband services with a mid-30% subscriber share. It has a big position in the New Zealand corporate and wholesale telecommunications services provision space. Spark supplements its core telecommunications operations and related infrastructure with IT products and services across cloud, managed data and networks, procurement, data centers, and Internet of Things. Its operations are all based in New Zealand, except for its 41% interest in Southern Cross Submarine Cables, which has zero book value and to which Spark has no funding obligations.
67GF Score
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