Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the debt to equity ratio high or low?
The debt to equity ratio of 0.04 is 45% above its 5-year average of 0.02, near the high end of its 5-year range (0.01–0.04).
As of the fiscal period ended Tuesday, June 30, 2026. 4.10% below its 12-month average of 0.04.
Reported quarterly debt to equity ratio; no daily interpolation. Q2 FY2026 (2026-06-30): 0.04.
DEBT TO EQUITY RATIO
0.04
DEBT TO EQUITY RATIO AVG TTM
0.04
DEBT TO EQUITY RATIO AVG 3Y
0.04
DEBT TO EQUITY RATIO AVG 5Y
0.02
DEBT TO EQUITY RATIO AVG 10Y
0.04
DEBT TO EQUITY RATIO AVG 15Y
0.06
DEBT TO EQUITY RATIO AVG 20Y
0.05
CURRENT VS TTM AVG
-4.10%
CURRENT VS 3Y AVG
-0.56%
CURRENT VS 5Y AVG
+45.28%
CURRENT VS 10Y AVG
-11.45%
CURRENT VS 15Y AVG
-43.69%
CURRENT VS 20Y AVG
-33.38%
SECTOR MEDIAN · INDUSTRIALS
0.47
median of 357 covered companies
CURRENT VS SECTOR MEDIAN
-92.52%
vs the sector median at left
Ballard Power Systems Inc.
Market Cap
$622.55M
Debt to Equity Ratio
0.04
TTM Avg
0.04
3Y Avg
0.04
5Y Avg
0.02
Market Cap
$611.26M
Debt to Equity Ratio
1.29
TTM Avg
1.75
3Y Avg
1.73
5Y Avg
1.63
Market Cap
$582.49M
Debt to Equity Ratio
2.56
TTM Avg
1.39
3Y Avg
0.88
5Y Avg
0.59
Market Cap
$580.95M
Debt to Equity Ratio
N/A
TTM Avg
63.04
3Y Avg
33.38
5Y Avg
41.59
Market Cap
$686.00M
Debt to Equity Ratio
0.23
TTM Avg
0.23
3Y Avg
0.39
5Y Avg
0.35
Market Cap
$549.68M
Debt to Equity Ratio
0.13
TTM Avg
0.21
3Y Avg
0.13
5Y Avg
0.11
Market Cap
$702.63M
Debt to Equity Ratio
0.33
TTM Avg
0.02
3Y Avg
0.02
5Y Avg
0.01
Market Cap
$721.25M
Debt to Equity Ratio
2.38
TTM Avg
0.28
3Y Avg
0.22
5Y Avg
0.34
| NAME | MARKET CAP | DEBT TO EQUITY RATIO | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Ballard Power Systems Inc. (BLDP) | $622.55M | 0.04 | 0.04 | 0.04 | 0.02 |
| Matthews International Corporation (MATW)vs › | $611.26M | 1.29 | 1.75 | 1.73 | 1.63 |
| Enovix Corporation (ENVX)vs › | $582.49M | 2.56 | 1.39 | 0.88 | 0.59 |
| Hertz Global Holdings, Inc. (HTZ)vs › | $580.95M | N/A | 63.04 | 33.38 | 41.59 |
| Kimball Electronics, Inc. (KE)vs › | $686.00M | 0.23 | 0.23 | 0.39 | 0.35 |
| Kelly Services, Inc. (KELYA)vs › | $549.68M | 0.13 | 0.21 | 0.13 | 0.11 |
| Cass Information Systems, Inc. (CASS)vs › | $702.63M | 0.33 | 0.02 | 0.02 | 0.01 |
| Elmet Group Co. (ELMT)vs › | $704.53M | 0.12 | 0.71 | 0.71 | 0.71 |
| ADS-TEC Energy PLC (ADSE)vs › | $721.25M | 2.38 | 0.28 | 0.22 | 0.34 |
| Kelly Services, Inc. (KELYB)vs › | $515.46M | 0.13 | 0.21 | 0.13 | 0.11 |
Debt/Equity
0.04
Current Ratio
11.19
Debt to Equity measures financial leverage by comparing total debt to shareholders' equity.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | DEBT TO EQUITY RATIO |
|---|---|
| 2026-06-30 | 0.04 |
| 2026-03-31 | 0.04 |
| 2025-12-31 | 0.04 |
| 2025-09-30 | 0.04 |
| 2025-06-30 | 0.04 |
| 2025-03-31 | 0.04 |
| 2024-12-31 | 0.04 |
| 2024-09-30 | 0.04 |
| 2024-06-30 | 0.03 |
| 2024-03-31 | 0.03 |
| 2023-12-31 | 0.02 |
| 2023-09-30 | 0.02 |
| 2023-06-30 | 0.01 |
| 2023-03-31 | 0.01 |
| 2022-12-31 | 0.01 |
| 2022-09-30 | 0.01 |
| 2022-06-30 | 0.01 |
| 2022-03-31 | 0.01 |
| 2021-12-31 | 0.01 |
| 2021-09-30 | 0.01 |
| 2021-06-30 | 0.01 |
| 2021-03-31 | 0.01 |
| 2020-12-31 | 0.02 |
| 2020-09-30 | 0.04 |
| 2020-06-30 | 0.06 |
| 2020-03-31 | 0.06 |
| 2019-12-31 | 0.08 |
| 2019-09-30 | 0.08 |
| 2019-06-30 | 0.08 |
| 2019-03-31 | 0.07 |
| 2018-12-31 | 0.02 |
| 2018-09-30 | 0.06 |
| 2018-06-30 | 0.06 |
| 2018-03-31 | 0.06 |
| 2017-12-31 | 0.06 |
| 2017-09-30 | 0.06 |
| 2017-06-30 | 0.06 |
| 2017-03-31 | 0.06 |
| 2016-12-31 | 0.06 |
| 2016-09-30 | 0.06 |
| 2016-06-30 | 0.08 |
| 2016-03-31 | 0.08 |
| 2015-12-31 | 0.07 |
| 2015-09-30 | 0.09 |
| 2015-06-30 | 0.11 |
| 2015-03-31 | 0.11 |
| 2014-12-31 | 0.13 |
| 2014-09-30 | 0.11 |
| 2014-06-30 | 0.12 |
| 2014-03-31 | 0.14 |
| 2013-12-31 | 0.18 |
| 2013-09-30 | 0.34 |
| 2013-06-30 | 0.31 |
| 2013-03-31 | 0.33 |
| 2012-12-31 | 0.42 |
| 2012-09-30 | 0.33 |
| 2012-06-30 | 0.32 |
| 2012-03-31 | 0.30 |
| 2011-12-31 | 0.22 |
| 2011-09-30 | 0.21 |
| 2011-06-30 | 0.17 |
| 2011-03-31 | 0.12 |
| 2010-12-31 | 0.11 |
| 2010-09-30 | 0.10 |
| 2010-06-30 | 0.10 |
| 2010-03-31 | 0.09 |
| 2009-12-31 | 0.01 |
| 2009-09-30 | 0.00 |
| 2009-06-30 | 0.00 |
| 2009-03-31 | 0.00 |
| 2008-12-31 | 0.00 |
| 2008-09-30 | 0.00 |
| 2008-06-30 | 0.00 |
| 2008-03-31 | 0.00 |
| 2007-12-31 | 0.00 |
| 2007-09-30 | 0.00 |
| 2007-06-30 | 0.00 |
| 2007-03-31 | 0.00 |
| 2006-12-31 | 0.00 |
| 2006-09-30 | 0.00 |
| 2006-06-30 | 0.00 |
| 2006-03-31 | 0.00 |
| 2005-12-31 | 0.00 |
| 2005-09-30 | 0.00 |
| 2005-06-30 | 0.00 |
| 2005-03-31 | 0.00 |
| 2004-12-31 | 0.00 |
| 2004-09-30 | 0.00 |
| 2004-06-30 | 0.00 |
| 2004-03-31 | 0.00 |
| 2003-12-31 | 0.00 |
| 2003-09-30 | 0.00 |
| 2003-06-30 | 0.00 |
| 2003-03-31 | 0.00 |
| 2002-12-31 | 0.00 |
| 2002-09-30 | 0.00 |
