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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.
NZXNZSTF 52 Equity-to-Asset is 0.44 as of Dec. 2025, which is 13% above its 10-year median of 0.39. GuruFocus rates NZSTF with a GF Score™ of 52/100 and a GF Value™ of $0.86 (Fairly Valued). The stock has 4 warning signs investors should review. Among 815 Capital Markets companies, NZX ranks worse than 54.85% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. NZX's Total Stockholders Equity for the quarter that ended in Dec. 2025 was $70.71 Mil. NZX's Total Assets for the quarter that ended in Dec. 2025 was $160.53 Mil.
Therefore, NZX's Equity to Asset Ratio for the quarter that ended in Dec. 2025 was 0.44.
The historical rank and industry rank for NZX's Equity-to-Asset or its related term are showing as below:
NZSTF'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0.25 Med: 0.39 Max: 0.5
Current: 0.44
During the past 13 years, the highest Equity to Asset Ratio of NZX was 0.50. The lowest was 0.25. And the median was 0.39.
NZSTF's Equity-to-Asset is ranked worse than 54.85% of 815
companies
in the Capital Markets industry
Industry Median: 0.51
vs NZSTF: 0.44
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%.
NZX Equity-to-Asset Related Terms
NZX Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for NZX'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.
NZSTF vs SPGI, CME, ICE: Equity-to-Asset Comparison
For the Financial Data & Stock Exchanges subindustry, NZX'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.
NZX Equity-to-Asset vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, NZX's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where NZX'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.
NZX's Equity to Asset Ratio for the fiscal year that ended in Dec. 2024 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.
NZX (NZSTF) has a Equity-to-Asset of 0.44 as of Dec. 2025. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on NZX and its competitors. This is 13% above median its historical median of 0.39. Over the past decade, NZX's Equity-to-Asset has ranged from 0.25 to 0.50. According to the industry distribution chart, NZX ranks #447 out of 815 companies in the Capital Markets industry, placing it in the top 54.8%.
Is NZX's Equity-to-Asset too high?
NZX's current Equity-to-Asset of 0.44 is 13% above median its 10-year median of 0.39. Over the past 10 years, this metric has ranged from a low of 0.25 to a high of 0.50. The Capital Markets industry median Equity-to-Asset is 0.51. NZX's value of 0.44 is 13.7% below this industry median. Based on the distribution chart, NZX ranks #447 out of 815 companies in the Capital Markets industry, which is below the industry midpoint. Overall, NZX has a GF Score™ of 52/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NZX's Equity-to-Asset compare to SPGI and CME?
According to the Capital Markets industry distribution chart, NZX ranks #447 out of 815 companies for Equity-to-Asset. This places NZX in the lower half of its industry. The industry median Equity-to-Asset is 0.51. NZX's value of 0.44 is 13.7% below this benchmark. Historically, NZX's own Equity-to-Asset has ranged from 0.25 to 0.50 over the past decade. While the company's 10-year median is 0.39 vs. the industry median of 0.51, NZX 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 Capital Markets company?
The median Equity-to-Asset among Capital Markets companies is 0.51, based on 815 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. NZX's current Equity-to-Asset of 0.44 is 13.7% 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 NZX and its competitors. For the Capital Markets industry, the median Equity-to-Asset is 0.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NZX's current Equity-to-Asset is 0.44, which is 13% above median its own 10-year median of 0.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NZX stock overvalued right now?
Based on GuruFocus' analysis, NZX (NZSTF) is currently considered Fairly Valued. The stock's GF Value™ is $0.86, compared to a current price of $0.87 — trading 1.7% above its estimated fair value. The current Equity-to-Asset is 0.44, which is 13% above median its 10-year median of 0.39 and 13.7% below the Capital Markets industry median of 0.51. NZX's overall GF Score™ is 52/100 with 4 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 NZX (NZSTF), the current Equity-to-Asset is 0.44 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 NZX (NZSTF) Overvalued in 2026?
Based on GuruFocus' analysis, NZX stock appears to be overvalued.
The current stock price of $0.87 is trading 1.7% above its estimated GF Value™ of $0.86.
GuruFocus considers NZX to be Fairly Valued.
Key valuation signals for NZSTF:
Equity-to-Asset: 0.44 (13% above median its 10-year median of 0.39)
GF Value™: $0.86 vs. price of $0.87 (1.7% above fair value)
Industry Position: 13.7% below the Capital Markets median (#447 of 815)
No single metric tells the full story. See the NZSTF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NZX Ltd operates New Zealand's equity, debt, funds, derivatives and energy markets. To support the growth of its markets, it provides trading, clearing, settlement, depository, and information services for its customers. The company also owns Smart, New Zealand issuer of listed Exchange Traded Funds (ETFs); KiwiSaver, investment, superannuation and insurance provider SuperLife; and diversified fund manager QuayStreet Asset Management. Its segments include Markets, Funds Management (Smart), Wealth Technologies, and Corporate. It derives majority of the revenue from Markets segment which includes Capital Markets Origination, Secondary Markets, and Information Services.
52GF Score
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