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Harvey Norman HoldingsHNORF 73 Equity-to-Asset is 0.56 as of Dec. 2025, which is 3% below its 10-year median of 0.58. GuruFocus rates HNORF with a GF Score™ of 73/100 and a GF Value™ of $4.35. The stock has 5 warning signs investors should review. Among 1,135 Retail - Cyclical companies, Harvey Norman Holdings ranks better than 66.7% on this metric.
Harvey Norman Holdings (OTCPK:HNORF) 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%.
Harvey Norman Holdings Equity-to-Asset Related Terms
Harvey Norman Holdings Equity-to-Asset Historical Data
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The historical data trend for Harvey Norman Holdings'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.
HNORF vs CASY, WSM, ULTA: Equity-to-Asset Comparison
For the Specialty Retail subindustry, Harvey Norman Holdings'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.
Harvey Norman Holdings Equity-to-Asset vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Harvey Norman Holdings's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Harvey Norman Holdings's Equity-to-Asset falls into.
Harvey Norman Holdings 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.
Harvey Norman Holdings'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.
Harvey Norman Holdings (HNORF) has a Equity-to-Asset of 0.56 as of Dec. 2025. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Harvey Norman Holdings and its competitors. This is near median its historical median of 0.58. Over the past decade, Harvey Norman Holdings' Equity-to-Asset has ranged from 0.54 to 0.67. According to the industry distribution chart, Harvey Norman Holdings ranks #378 out of 1135 companies in the Retail - Cyclical industry, placing it in the top 33.3%.
Is Harvey Norman Holdings' Equity-to-Asset too high?
Harvey Norman Holdings' current Equity-to-Asset of 0.56 is near median its 10-year median of 0.58. Over the past 10 years, this metric has ranged from a low of 0.54 to a high of 0.67. The Retail - Cyclical industry median Equity-to-Asset is 0.44. Harvey Norman Holdings' value of 0.56 is 27.3% above this industry median. Based on the distribution chart, Harvey Norman Holdings ranks #378 out of 1135 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Harvey Norman Holdings has a GF Score™ of 73/100, reflecting its overall financial health beyond just this single metric.
How does Harvey Norman Holdings' Equity-to-Asset compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Harvey Norman Holdings ranks #378 out of 1135 companies for Equity-to-Asset. This puts Harvey Norman Holdings in the upper half of its industry. The industry median Equity-to-Asset is 0.44. Harvey Norman Holdings' value of 0.56 is 27.3% above this benchmark. Historically, Harvey Norman Holdings' own Equity-to-Asset has ranged from 0.54 to 0.67 over the past decade. While the company's 10-year median is 0.58 vs. the industry median of 0.44, Harvey Norman Holdings 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 Retail - Cyclical company?
The median Equity-to-Asset among Retail - Cyclical companies is 0.44, based on 1,135 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. Harvey Norman Holdings's current Equity-to-Asset of 0.56 is 27.3% 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 Harvey Norman Holdings and its competitors. For the Retail - Cyclical industry, the median Equity-to-Asset is 0.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harvey Norman Holdings's current Equity-to-Asset is 0.56, 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 Harvey Norman Holdings stock overvalued right now?
Harvey Norman Holdings (HNORF) has a current Equity-to-Asset of 0.56. The stock's GF Value™ is $4.35, compared to a current price of $3.72 — trading 14.5% below its estimated fair value. The current Equity-to-Asset is 0.56, which is near median its 10-year median of 0.58 and 27.3% above the Retail - Cyclical industry median of 0.44. Harvey Norman Holdings' overall GF Score™ is 73/100 with 5 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 Harvey Norman Holdings (HNORF), the current Equity-to-Asset is 0.56 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 Harvey Norman Holdings (HNORF) Overvalued in 2026?
Based on GuruFocus' analysis, Harvey Norman Holdings stock appears to be undervalued.
The current stock price of $3.72 is trading 14.5% below its estimated GF Value™ of $4.35.
Key valuation signals for HNORF:
Equity-to-Asset: 0.56 (near median its 10-year median of 0.58)
GF Value™: $4.35 vs. price of $3.72 (14.5% below fair value)
Industry Position: 27.3% above the Retail - Cyclical median (#378 of 1135)
No single metric tells the full story. See the HNORF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harvey Norman Holdings Limited is the franchisor of Harvey Norman, a leading Australia-based retailer that sells goods from the electrical, computer, furniture, entertainment, and bedding sectors. The majority of earnings are generated in Australia, with the international divisions gradually growing in significance.
73GF Score
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