How are the values computed?

From the reported filings of all visible Fair Value Calculator stocks; the 25th, 50th and 75th percentile per sector and industry, as of October 14, 2026.

Valuation multiples › Debt-to-equity

Debt-to-equity by sector and industry

Debt-to-equity ratio: median and quartiles across 11 GICS sectors and 177 industries, from 27,874 valued stocks worldwide.

As of October 14, 2026 · updated daily · CSV JSON

What the numbers show

The lowest sector median is 0.06 (Information Technology, 2,983 values), the highest 0.66 (Utilities, 628 values).

That is a factor of 12.0 between the two: the same ratio means different things in different sectors, so compare within the industry.

The middle sector (Materials) has a median of 0.10; half of its 2,918 stocks sit between 0.01 and 0.32.

Debt-to-equity by sector

Sector	P25	Median	P75	Values
Information Technology	0.00	0.06	0.24	2,983
Health Care	0.00	0.08	0.30	1,901
Communication Services	0.00	0.08	0.51	905
Consumer Discretionary	0.01	0.09	0.35	3,184
Consumer Staples	0.01	0.10	0.36	1,529
Materials	0.01	0.10	0.32	2,918
Industrials	0.01	0.12	0.45	4,809
Energy	0.04	0.25	0.62	828
Financials	0.05	0.26	0.83	2,565
Real Estate	0.12	0.43	0.85	1,688
Utilities	0.15	0.66	1.30	628

Debt-to-equity by industry (177)

Grouped by sector, sorted by median within each sector. Only industries with at least ten valued stocks.

Communication Services (8)

Industry	P25	Median	P75	Values
Movies & Entertainment	0.00	0.00	0.08	10
Electronic Gaming & Multimedia	0.00	0.01	0.08	89
Publishing	0.00	0.01	0.17	80
Advertising Agencies	0.00	0.05	0.39	146
Internet Content & Information	0.00	0.06	0.29	100
Entertainment	0.00	0.09	0.51	191
Broadcasting	0.01	0.10	0.55	55
Telecom Services	0.02	0.33	1.03	215

Consumer Discretionary (29)

Industry	P25	Median	P75	Values
Apparel Retail	0.00	0.01	0.17	87
Luxury Goods	0.00	0.01	0.11	107
Textile Industrial	0.00	0.02	0.08	11
Apparel Manufacturing	0.00	0.04	0.17	185
Furnishings, Fixtures & Appliances	0.00	0.05	0.18	267
Consumer Electronics	0.00	0.07	0.21	106
Footwear & Accessories	0.00	0.07	0.27	85
Department Stores	0.03	0.09	0.33	95
Education & Training Services	0.00	0.10	0.35	98
Auto Parts	0.01	0.10	0.29	604
Home Improvement Retail	0.01	0.10	0.30	28
Textile Manufacturing	0.01	0.11	0.32	319
Restaurants	0.00	0.11	0.48	163
Leisure	0.01	0.11	0.32	151
Travel Services	0.01	0.11	0.57	76
Specialty Retail	0.00	0.11	0.52	175
Auto Manufacturers	0.04	0.14	0.59	97
Textiles	0.02	0.16	0.25	29
Internet Retail	0.01	0.17	0.51	78
Personal Services	0.00	0.21	0.62	27
Recreational Vehicles	0.02	0.22	0.45	33
Lodging	0.02	0.22	0.61	139
Discount Stores	0.05	0.23	0.77	23
Hotels & Entertainment Services	0.03	0.24	0.65	11
Residential Construction	0.08	0.24	0.65	61
Automobiles & Auto Parts	0.05	0.26	0.33	17
Auto & Truck Dealerships	0.10	0.28	0.92	79
Gambling	0.06	0.29	2.07	36
Resorts & Casinos	0.06	0.36	1.54	58

Consumer Staples (14)

Industry	P25	Median	P75	Values
Household & Personal Products	0.00	0.03	0.30	198
Agricultural Products	0.02	0.04	0.10	12
Food & Tobacco	0.00	0.06	0.26	24
Tobacco	0.00	0.06	0.44	25
Pharmaceutical Retailers	0.00	0.06	0.33	43
Beverages - Brewers	0.01	0.07	0.38	53
Packaged Foods	0.01	0.08	0.32	567
Food Products	0.01	0.09	0.35	12
Beverages - Wineries & Distilleries	0.01	0.09	0.35	80
Beverages - Non-Alcoholic	0.00	0.09	0.34	69
Farm Products	0.02	0.12	0.38	264
Food Distribution	0.01	0.12	0.35	72
Grocery Stores	0.03	0.20	0.42	65
Confectioners	0.05	0.22	0.44	77

Energy (8)

Industry	P25	Median	P75	Values
Uranium	0.00	0.07	0.30	15
Thermal Coal	0.04	0.17	0.56	80
Oil & Gas Equipment & Services	0.04	0.19	0.52	159
Oil & Gas Integrated	0.11	0.27	0.46	42
Oil & Gas Refining & Marketing	0.06	0.31	0.67	99
Oil & Gas E&P	0.07	0.31	0.64	204
Oil & Gas Drilling	0.23	0.43	1.29	31
Oil & Gas Midstream	0.34	0.90	1.84	72

Financials (21)

Industry	P25	Median	P75	Values
Shell Companies	0.00	0.00	0.36	17
Investment Brokerage - National	0.00	0.00	0.02	12
Investment Banking & Investment Services	0.00	0.00	0.07	14
Diversified Financial Services	0.00	0.04	0.47	12
Asset Management	0.00	0.10	0.50	429
Financial Data & Stock Exchanges	0.00	0.11	0.40	37
Capital Markets	0.00	0.11	0.51	367
Banking Services	0.07	0.15	2.52	13
Insurance - Specialty	0.02	0.16	0.23	25
Insurance - Property & Casualty	0.08	0.21	0.32	91
Insurance - Reinsurance	0.05	0.21	0.36	20
Insurance - Diversified	0.03	0.22	0.46	58
Insurance - Life	0.14	0.27	0.54	69
Banks - Regional	0.11	0.31	0.80	914
Financial Conglomerates	0.03	0.32	1.26	48
Insurance Brokers	0.08	0.51	0.74	27
Specialized Finance	0.29	0.56	3.02	13
Credit Services	0.13	0.90	2.43	292
Banks - Diversified	0.37	1.19	2.25	40
Mortgage Finance	0.27	1.53	4.45	51
REIT - Mortgage	0.78	1.99	3.60	36

Health Care (11)

Industry	P25	Median	P75	Values
Health Information Services	0.00	0.03	0.19	84
Pharmaceuticals	0.00	0.04	0.15	51
Medical Devices	0.00	0.04	0.29	267
Biotechnology	0.00	0.06	0.23	376
Medical Distribution	0.00	0.07	0.34	71
Drug Manufacturers - Specialty & Generic	0.01	0.08	0.25	507
Medical Instruments & Supplies	0.01	0.09	0.29	162
Diagnostics & Research	0.00	0.13	0.39	107
Drug Manufacturers - General	0.02	0.16	0.50	66
Medical Care Facilities	0.05	0.20	0.50	210
Healthcare Plans	0.23	0.70	0.79	11

Industrials (31)

Industry	P25	Median	P75	Values
Professional & Commercial Services	0.00	0.00	0.08	14
Machinery, Tools, Heavy Vehicles, Trains & Ships	0.00	0.03	0.08	42
Industrial Machinery	0.00	0.03	0.16	16
Business Equipment & Supplies	0.00	0.04	0.19	70
Construction & Engineering	0.00	0.05	0.19	20
Electrical Equipment & Parts	0.01	0.06	0.24	478
Tools & Accessories	0.00	0.08	0.29	112
Specialty Industrial Machinery	0.01	0.08	0.27	701
Staffing & Employment Services	0.00	0.09	0.29	59
Metal Fabrication	0.02	0.10	0.26	232
Building Products & Equipment	0.01	0.10	0.40	235
Pollution & Treatment Controls	0.03	0.11	0.26	70
Engineering & Construction	0.02	0.12	0.46	720
Construction & Engineering	0.04	0.12	0.31	14
Aerospace & Defense	0.02	0.12	0.47	212
Integrated Freight & Logistics	0.03	0.12	0.42	183
Aerospace & Defense	0.02	0.12	0.32	11
Specialty Business Services	0.01	0.14	0.49	198
Farm & Heavy Construction Machinery	0.02	0.15	0.47	140
Trucking	0.01	0.17	0.45	44
Industrial Distribution	0.01	0.18	0.40	106
Railroads	0.03	0.18	0.56	93
Conglomerates	0.02	0.20	0.59	336
Marine Shipping	0.07	0.21	0.55	219
Consulting Services	0.05	0.25	0.57	52
Airports & Air Services	0.00	0.28	0.77	46
Waste Management	0.10	0.36	0.82	140
Infrastructure Operations	0.13	0.63	1.32	64
Airlines	0.49	0.66	1.35	46
Rental & Leasing Services	0.10	0.70	2.09	83
Electrical Utilities & IPPs	0.38	0.82	1.15	13

Information Technology (18)

Industry	P25	Median	P75	Values
Communications & Networking	0.00	0.00	0.08	11
Computers, Phones & Household Electronics	0.00	0.00	0.07	11
IT Services	0.00	0.01	0.06	27
Electronic Equipment & Parts	0.00	0.01	0.15	17
Security & Protection Services	0.00	0.02	0.35	88
Software & IT Services	0.00	0.02	0.13	36
Semiconductors & Semiconductor Equipment	0.00	0.02	0.10	43
Scientific & Technical Instruments	0.00	0.03	0.17	134
Communication Equipment	0.00	0.04	0.19	253
Information Technology Services	0.00	0.05	0.27	396
Software - Infrastructure	0.00	0.05	0.44	262
Electronics & Computer Distribution	0.00	0.05	0.18	134
Software - Application	0.00	0.06	0.26	463
Computer Hardware	0.00	0.06	0.25	170
Semiconductor Equipment & Materials	0.00	0.08	0.28	202
Electronic Components	0.01	0.09	0.26	559
Semiconductors	0.00	0.10	0.33	270
Solar	0.06	0.30	0.76	92

Materials (18)

Industry	P25	Median	P75	Values
Other	0.00	0.03	0.49	78
Gold	0.00	0.03	0.15	140
Other Precious Metals & Mining	0.00	0.03	0.29	58
Metals & Mining	0.00	0.04	0.21	20
Agricultural Inputs	0.01	0.06	0.21	150
Construction Materials	0.00	0.08	0.69	10
Containers & Packaging	0.01	0.09	0.21	22
Other Industrial Metals & Mining	0.01	0.10	0.39	227
Steel	0.01	0.10	0.29	383
Specialty Chemicals	0.01	0.10	0.32	659
Chemicals	0.02	0.13	0.38	314
Aluminum	0.02	0.13	0.37	74
Coking Coal	0.02	0.15	0.43	18
Copper	0.02	0.15	0.41	48
Packaging & Containers	0.03	0.15	0.39	245
Building Materials	0.03	0.15	0.33	243
Lumber & Wood Production	0.02	0.17	0.41	68
Paper & Paper Products	0.04	0.18	0.49	115

Real Estate (13)

Industry	P25	Median	P75	Values
Real Estate Development	0.02	0.10	0.64	21
Real Estate Operations	0.08	0.22	0.69	31
Real Estate - Development	0.09	0.33	0.74	536
Real Estate Services	0.03	0.34	0.93	474
REIT - Diversified	0.24	0.46	0.82	135
REIT - Industrial	0.30	0.47	0.71	53
Real Estate - Diversified	0.16	0.52	0.85	124
REIT - Healthcare Facilities	0.30	0.53	0.82	25
REIT - Specialty	0.34	0.54	1.24	29
REIT - Hotel & Motel	0.37	0.59	1.01	33
REIT - Retail	0.43	0.62	0.86	91
REIT - Office	0.40	0.67	1.10	71
REIT - Residential	0.21	0.73	1.40	48

Utilities (6)

Industry	P25	Median	P75	Values
Utilities - Regulated Gas	0.03	0.34	0.81	96
Utilities - Independent Power Producers	0.18	0.58	1.36	72
Utilities - Renewable	0.13	0.61	1.43	184
Utilities - Regulated Water	0.29	0.70	0.99	57
Utilities - Regulated Electric	0.29	0.95	1.42	154
Utilities - Diversified	0.53	1.04	1.52	49

History of sector medians

Month	Information Technology	Health Care	Communication Services	Consumer Discretionary	Consumer Staples	Materials	Industrials	Energy	Financials	Real Estate	Utilities
2026-09	0.05	0.07	0.06	0.08	0.09	0.10	0.12	0.19	0.26	0.40	0.67
2026-10	0.06	0.08	0.08	0.10	0.10	0.11	0.13	0.25	0.25	0.43	0.66

Use it

Debt-to-equity calculator with live sector comparison → · Market valuation by sector and country → · Undervalued stocks by sector → · All 15 metrics →

Cite or reuse this table

Suggested citation: Fair Value Calculator (2026): Debt-to-equity ratio by sector and industry, as of October 14, 2026. https://www.fairvalue-calculator.com/valuation-multiples/debt-to-equity

Free to use under CC BY 4.0 with attribution. Raw data: CSV · JSON · API and embedding

Not financial advice. Metrics from reported filings (latest fiscal year or trailing twelve months), percentiles over the visible Fair Value Calculator universe; negative multiples are excluded and outliers beyond the 90th percentile are never the basis of a statement.