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Western Energy ServicesTSX:WRG -0.86%48 Equity-to-Asset is 0.73 as of Jun. 2026, which is 38% above its 10-year median of 0.53. GuruFocus rates TSX:WRG with a GF Score™ of 48/100 and a GF Value™ of C$2.51 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,030 Oil & Gas companies, Western Energy Services ranks better than 78.45% on this metric.
Western Energy Services (TSX:WRG) 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%.
Western Energy Services Equity-to-Asset Related Terms
Western Energy Services 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.
TSX:WRG vs NE, RIG, VAL: Equity-to-Asset Comparison
For the Oil & Gas Drilling subindustry, Western Energy Services'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.
Western Energy Services Equity-to-Asset vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Western Energy Services's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where Western Energy Services's Equity-to-Asset falls into.
Western Energy Services 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.
Western Energy Services'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.
Western Energy Services (TSX:WRG) has a Equity-to-Asset of 0.73 as of Jun. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on Western Energy Services and its competitors. This is 38% above median its historical median of 0.53. Over the past decade, Western Energy Services' Equity-to-Asset has ranged from 0.39 to 0.73. According to the industry distribution chart, Western Energy Services ranks #222 out of 1030 companies in the Oil & Gas industry, placing it in the top 21.6%.
Is Western Energy Services' Equity-to-Asset too high?
Western Energy Services' current Equity-to-Asset of 0.73 is 38% above median its 10-year median of 0.53. Over the past 10 years, this metric has ranged from a low of 0.39 to a high of 0.73. The Oil & Gas industry median Equity-to-Asset is 0.50. Western Energy Services' value of 0.73 is 46% above this industry median. Based on the distribution chart, Western Energy Services ranks #222 out of 1030 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Western Energy Services has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Western Energy Services' Equity-to-Asset compare to NE and RIG?
According to the Oil & Gas industry distribution chart, Western Energy Services ranks #222 out of 1030 companies for Equity-to-Asset. This places Western Energy Services in the top 22% of its industry — outperforming the majority of peers. The industry median Equity-to-Asset is 0.50. Western Energy Services' value of 0.73 is 46% above this benchmark. Historically, Western Energy Services' own Equity-to-Asset has ranged from 0.39 to 0.73 over the past decade. While the company's 10-year median is 0.53 vs. the industry median of 0.50, Western Energy Services 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 an Oil & Gas company?
The median Equity-to-Asset among Oil & Gas companies is 0.50, based on 1,030 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. Western Energy Services's current Equity-to-Asset of 0.73 is 46% 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 Western Energy Services and its competitors. For the Oil & Gas industry, the median Equity-to-Asset is 0.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Western Energy Services's current Equity-to-Asset is 0.73, which is 38% above median its own 10-year median of 0.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Western Energy Services stock overvalued right now?
Based on GuruFocus' analysis, Western Energy Services (TSX:WRG) is currently considered Significantly Overvalued. The stock's GF Value™ is C$2.51, compared to a current price of C$3.44 — trading 37.1% above its estimated fair value. The current Equity-to-Asset is 0.73, which is 38% above median its 10-year median of 0.53 and 46% above the Oil & Gas industry median of 0.50. Western Energy Services' overall GF Score™ is 48/100 with 7 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 Western Energy Services (TSX:WRG), the current Equity-to-Asset is 0.73 as of Jun. 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 Western Energy Services (TSX:WRG) Overvalued in 2026?
Based on GuruFocus' analysis, Western Energy Services stock appears to be overvalued.
The current stock price of C$3.44 is trading 37.1% above its estimated GF Value™ of C$2.51.
GuruFocus considers Western Energy Services to be Significantly Overvalued.
Key valuation signals for TSX:WRG:
Equity-to-Asset: 0.73 (38% above median its 10-year median of 0.53)
GF Value™: C$2.51 vs. price of C$3.44 (37.1% above fair value)
Industry Position: 46% above the Oil & Gas median (#222 of 1030)
No single metric tells the full story. See the TSX:WRG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Western Energy Services Corp is an energy service company providing contract drilling services through its division, Horizon Drilling in Canada, and its wholly owned subsidiary in the United States. The company provides production services in Canada through its division Eagle Well Servicing (Eagle) which provides well servicing and its division Aero Rental Services (Aero), which provides rental equipment services. It operates in two segments. Contract drilling includes drilling rigs along with related ancillary equipment. Production services include well servicing rigs and related equipment, as well as rental equipment. The contract drilling segment derives the majority of the revenue.
48GF Score
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