Vulcan SteelASX:VSL -1.26%58 Debt-to-EBITDA is 5.14 as of Dec. 2025, which is 47% above its 10-year median of 3.50. GuruFocus rates ASX:VSL with a GF Score™ of 58/100 and a GF Value™ of A$6.24 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 493 Steel companies, Vulcan Steel ranks worse than 65.31% 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 Vulcan Steel's Debt-to-EBITDA or its related term are showing as below:
ASX:VSL'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.94 Med: 3.5 Max: 4.56
Current: 4.56
During the past 4 years, the highest Debt-to-EBITDA Ratio of Vulcan Steel was 4.56. The lowest was 1.94. And the median was 3.50.
ASX:VSL's Debt-to-EBITDA is ranked worse than 65.31% of 493
companies
in the Steel industry
Industry Median: 2.86
vs ASX:VSL: 4.56
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.
Vulcan Steel Debt-to-EBITDA Related Terms
Vulcan Steel Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Vulcan Steel'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:VSL vs NUE, STLD, RS: Debt-to-EBITDA Comparison
For the Steel subindustry, Vulcan Steel'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.
Vulcan Steel Debt-to-EBITDA vs Steel Industry
For the Steel industry and Basic Materials sector, Vulcan Steel's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Vulcan Steel'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.
Vulcan Steel (ASX:VSL) has a Debt-to-EBITDA of 5.14 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 Vulcan Steel. This is 47% above median its historical median of 3.50. Over the past decade, Vulcan Steel's Debt-to-EBITDA has ranged from 1.94 to 4.56. According to the industry distribution chart, Vulcan Steel ranks #322 out of 493 companies in the Steel industry, placing it in the top 65.3%.
Is Vulcan Steel's Debt-to-EBITDA too high?
Vulcan Steel's current Debt-to-EBITDA of 5.14 is 47% above median its 10-year median of 3.50. Over the past 10 years, this metric has ranged from a low of 1.94 to a high of 4.56. The Steel industry median Debt-to-EBITDA is 2.86. Vulcan Steel's value of 5.14 is 79.7% above this industry median. Based on the distribution chart, Vulcan Steel ranks #322 out of 493 companies in the Steel industry, which is below the industry midpoint. Overall, Vulcan Steel has a GF Score™ of 58/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's Debt-to-EBITDA compare to NUE and STLD?
According to the Steel industry distribution chart, Vulcan Steel ranks #322 out of 493 companies for Debt-to-EBITDA. This places Vulcan Steel in the lower half of its industry. The industry median Debt-to-EBITDA is 2.86. Vulcan Steel's value of 5.14 is 79.7% above this benchmark. Historically, Vulcan Steel's own Debt-to-EBITDA has ranged from 1.94 to 4.56 over the past decade. While the company's 10-year median is 3.50 vs. the industry median of 2.86, Vulcan Steel 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 Debt-to-EBITDA for a Steel company?
The median Debt-to-EBITDA among Steel companies is 2.86, based on 493 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. Vulcan Steel's current Debt-to-EBITDA of 5.14 is 79.7% 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 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 Vulcan Steel. For the Steel industry, the median Debt-to-EBITDA is 2.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vulcan Steel's current Debt-to-EBITDA is 5.14, which is 47% above median its own 10-year median of 3.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.24, compared to a current price of A$4.70 — trading 24.7% below its estimated fair value. The current Debt-to-EBITDA is 5.14, which is 47% above median its 10-year median of 3.50 and 79.7% above the Steel industry median of 2.86. Vulcan Steel's overall GF Score™ is 58/100 with 5 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 Vulcan Steel (ASX:VSL), the current Debt-to-EBITDA is 5.14 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued.
The current stock price of A$4.70 is trading 24.7% below its estimated GF Value™ of A$6.24.
GuruFocus considers Vulcan Steel to be Modestly Undervalued.
Key valuation signals for ASX:VSL:
Debt-to-EBITDA: 5.14 (47% above median its 10-year median of 3.50)
GF Value™: A$6.24 vs. price of A$4.70 (24.7% below fair value)
Industry Position: 79.7% above the Steel median (#322 of 493)
No single metric tells the full story. See the ASX:VSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
58GF Score
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