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QualitasASX:QAL -0.61%57 Debt-to-EBITDA is 0.84 as of Dec. 2025, which is 85% below its 10-year median of 5.61. GuruFocus rates ASX:QAL with a GF Score™ of 57/100 and a GF Value™ of A$2.84 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 384 Asset Management companies, Qualitas ranks better than 58.59% on this metric.
Debt-to-EBITDA measures a company's ability to pay off its debt.
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt. According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
The historical rank and industry rank for Qualitas's Debt-to-EBITDA or its related term are showing as below:
ASX:QAL'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.92 Med: 5.61 Max: 19.6
Current: 0.92
During the past 5 years, the highest Debt-to-EBITDA Ratio of Qualitas was 19.60. The lowest was 0.92. And the median was 5.61.
ASX:QAL's Debt-to-EBITDA is ranked better than 58.59% of 384
companies
in the Asset Management industry
Industry Median: 1.39
vs ASX:QAL: 0.92
A high Debt-to-EBITDA ratio generally means that a company may spend more time to paying off its debt.
According to Joel Tillinghast's BIG MONEY THINKS SMALL: Biases, Blind Spots, and Smarter Investing, a ratio of Debt-to-EBITDA exceeding four is usually considered scary unless tangible assets cover the debt.
Qualitas Debt-to-EBITDA Related Terms
Qualitas Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Qualitas's Debt-to-EBITDA 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.
ASX:QAL vs BLK, BX, KKR: Debt-to-EBITDA Comparison
For the Asset Management subindustry, Qualitas's Debt-to-EBITDA, along with its competitors' market caps and Debt-to-EBITDA 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.
Qualitas Debt-to-EBITDA vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Qualitas's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Qualitas's Debt-to-EBITDA falls into.
* 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.
In the calculation of annual Debt-to-EBITDA, the EBITDA of the last fiscal year is used. In calculating the annualized quarterly data,
the EBITDA data used here is two times the quarterly (Dec. 2025) EBITDA data.
Qualitas (ASX:QAL) has a Debt-to-EBITDA of 0.84 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Qualitas. This is 85% below median its historical median of 5.61. Over the past decade, Qualitas' Debt-to-EBITDA has ranged from 0.92 to 19.60. According to the industry distribution chart, Qualitas ranks #159 out of 384 companies in the Asset Management industry, placing it in the top 41.4%.
Is Qualitas' Debt-to-EBITDA too high?
Qualitas' current Debt-to-EBITDA of 0.84 is 85% below median its 10-year median of 5.61. Over the past 10 years, this metric has ranged from a low of 0.92 to a high of 19.60. The Asset Management industry median Debt-to-EBITDA is 1.39. Qualitas' value of 0.84 is 39.6% below this industry median. Based on the distribution chart, Qualitas ranks #159 out of 384 companies in the Asset Management industry, which is above the industry midpoint. Overall, Qualitas has a GF Score™ of 57/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Qualitas' Debt-to-EBITDA compare to BLK and BX?
According to the Asset Management industry distribution chart, Qualitas ranks #159 out of 384 companies for Debt-to-EBITDA. This puts Qualitas in the upper half of its industry. The industry median Debt-to-EBITDA is 1.39. Qualitas' value of 0.84 is 39.6% below this benchmark. Historically, Qualitas' own Debt-to-EBITDA has ranged from 0.92 to 19.60 over the past decade. While the company's 10-year median is 5.61 vs. the industry median of 1.39, Qualitas 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 Debt-to-EBITDA for an Asset Management company?
The median Debt-to-EBITDA among Asset Management companies is 1.39, based on 384 companies in the industry. Companies in the top quartile (top 25%) have a Debt-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, Debt-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Qualitas's current Debt-to-EBITDA of 0.84 is 39.6% 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 Debt-to-EBITDA mean?
A high Debt-to-EBITDA can signal that a stock is expensive relative to its fundamentals. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Qualitas. For the Asset Management industry, the median Debt-to-EBITDA is 1.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qualitas's current Debt-to-EBITDA is 0.84, which is 85% below median its own 10-year median of 5.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qualitas stock overvalued right now?
Based on GuruFocus' analysis, Qualitas (ASX:QAL) is currently considered Modestly Overvalued. The stock's GF Value™ is A$2.84, compared to a current price of A$3.27 — trading 15.1% above its estimated fair value. The current Debt-to-EBITDA is 0.84, which is 85% below median its 10-year median of 5.61 and 39.6% below the Asset Management industry median of 1.39. Qualitas' overall GF Score™ is 57/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Debt-to-EBITDA calculated?
Debt-to-EBITDA is calculated from a company's financial statements. For Qualitas (ASX:QAL), the current Debt-to-EBITDA is 0.84 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 Qualitas (ASX:QAL) Overvalued in 2026?
Based on GuruFocus' analysis, Qualitas stock appears to be overvalued.
The current stock price of A$3.27 is trading 15.1% above its estimated GF Value™ of A$2.84.
GuruFocus considers Qualitas to be Modestly Overvalued.
Key valuation signals for ASX:QAL:
Debt-to-EBITDA: 0.84 (85% below median its 10-year median of 5.61)
GF Value™: A$2.84 vs. price of A$3.27 (15.1% above fair value)
Industry Position: 39.6% below the Asset Management median (#159 of 384)
No single metric tells the full story. See the ASX:QAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Qualitas Ltd is an alternative real estate investment manager focused on private credit and equity across commercial real estate sectors. The Group has identified two operating segments Funds Management and Direct Lending. Maximum revenue is generated from its Funds Management segment which includes all of its core Funds management activities and includes Funds management fees, performance fees, and other fee income. It also includes dividends and distributions from Qualitas' Investment and Direct Lending activities. The Direct Lending segment relates to the interest income and expenses relating to activities undertaken by the company's subsidiaries.
57GF Score
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