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Forth Smart Service PCLBKK:FSMART -2.53%68 Equity-to-Asset is 0.48 as of Mar. 2026, which is 26% above its 10-year median of 0.38. GuruFocus rates BKK:FSMART with a GF Score™ of 68/100 and a GF Value™ of ฿6.73 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 367 Telecommunication Services companies, Forth Smart Service PCL ranks better than 63.22% on this metric.
The historical rank and industry rank for Forth Smart Service PCL's Equity-to-Asset or its related term are showing as below:
BKK:FSMART'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0.29 Med: 0.38 Max: 0.48
Current: 0.48
During the past 13 years, the highest Equity to Asset Ratio of Forth Smart Service PCL was 0.48. The lowest was 0.29. And the median was 0.38.
BKK:FSMART's Equity-to-Asset is ranked better than 63.22% of 367
companies
in the Telecommunication Services industry
Industry Median: 0.4
vs BKK:FSMART: 0.48
Forth Smart Service PCL (BKK:FSMART) 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%.
Forth Smart Service PCL Equity-to-Asset Related Terms
Forth Smart Service PCL Equity-to-Asset Historical Data
* 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.
BKK:FSMART vs VZ, TMUS, T: Equity-to-Asset Comparison
For the Telecom Services subindustry, Forth Smart Service PCL'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.
Forth Smart Service PCL Equity-to-Asset vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, Forth Smart Service PCL's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Forth Smart Service PCL's Equity-to-Asset falls into.
Forth Smart Service PCL Equity-to-Asset Calculation
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.
Forth Smart Service PCL's Equity to Asset Ratio for the fiscal year that ended in Dec. 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.
Forth Smart Service PCL (BKK:FSMART) has a Equity-to-Asset of 0.48 as of Mar. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Forth Smart Service PCL and its competitors. This is 26% above median its historical median of 0.38. Over the past decade, Forth Smart Service PCL's Equity-to-Asset has ranged from 0.29 to 0.48. According to the industry distribution chart, Forth Smart Service PCL ranks #135 out of 367 companies in the Telecommunication Services industry, placing it in the top 36.8%.
Is Forth Smart Service PCL's Equity-to-Asset too high?
Forth Smart Service PCL's current Equity-to-Asset of 0.48 is 26% above median its 10-year median of 0.38. Over the past 10 years, this metric has ranged from a low of 0.29 to a high of 0.48. The Telecommunication Services industry median Equity-to-Asset is 0.40. Forth Smart Service PCL's value of 0.48 is 20% above this industry median. Based on the distribution chart, Forth Smart Service PCL ranks #135 out of 367 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, Forth Smart Service PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Forth Smart Service PCL's Equity-to-Asset compare to VZ and TMUS?
According to the Telecommunication Services industry distribution chart, Forth Smart Service PCL ranks #135 out of 367 companies for Equity-to-Asset. This puts Forth Smart Service PCL in the upper half of its industry. The industry median Equity-to-Asset is 0.40. Forth Smart Service PCL's value of 0.48 is 20% above this benchmark. Historically, Forth Smart Service PCL's own Equity-to-Asset has ranged from 0.29 to 0.48 over the past decade. While the company's 10-year median is 0.38 vs. the industry median of 0.40, Forth Smart Service PCL 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 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. Forth Smart Service PCL's current Equity-to-Asset of 0.48 is 20% 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 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 Forth Smart Service PCL 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. Forth Smart Service PCL's current Equity-to-Asset is 0.48, which is 26% above median its own 10-year median of 0.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth Smart Service PCL stock overvalued right now?
Based on GuruFocus' analysis, Forth Smart Service PCL (BKK:FSMART) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.73, compared to a current price of ฿7.70 — trading 14.4% above its estimated fair value. The current Equity-to-Asset is 0.48, which is 26% above median its 10-year median of 0.38 and 20% above the Telecommunication Services industry median of 0.40. Forth Smart Service PCL's overall GF Score™ is 68/100 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 Forth Smart Service PCL (BKK:FSMART), the current Equity-to-Asset is 0.48 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 Forth Smart Service PCL (BKK:FSMART) Overvalued in 2026?
Based on GuruFocus' analysis, Forth Smart Service PCL stock appears to be overvalued.
The current stock price of ฿7.70 is trading 14.4% above its estimated GF Value™ of ฿6.73.
GuruFocus considers Forth Smart Service PCL to be Modestly Overvalued.
Key valuation signals for BKK:FSMART:
Equity-to-Asset: 0.48 (26% above median its 10-year median of 0.38)
GF Value™: ฿6.73 vs. price of ฿7.70 (14.4% above fair value)
Industry Position: 20% above the Telecommunication Services median (#135 of 367)
No single metric tells the full story. See the BKK:FSMART stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Smart Service PCL is a Thailand-based company engaged in providing prepaid mobile top-up services, money transfer services, and online payment receipt services through electronic top-up machines. The company also provides advertising services through its online top-up machine network. It operates through two reportable segments: Top-up Machine, which provides mobile top-up, payment, and related services through automated machines; and Lending, which provides personal loans and nano finance services. It generates the majority of its revenue from the Top-up machine segment.
68GF Score
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