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West African ResourcesASX:WAF -0.70%96 Debt-to-EBITDA is 0.38 as of Dec. 2025, which is 46% above its 10-year median of 0.26. GuruFocus rates ASX:WAF with a GF Score™ of 96/100 and a GF Value™ of A$4.59 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 596 Metals & Mining companies, West African Resources ranks better than 67.28% 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 West African Resources's Debt-to-EBITDA or its related term are showing as below:
ASX:WAF'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -36.04 Med: 0.26 Max: 1.26
Current: 0.48
During the past 13 years, the highest Debt-to-EBITDA Ratio of West African Resources was 1.26. The lowest was -36.04. And the median was 0.26.
ASX:WAF's Debt-to-EBITDA is ranked better than 67.28% of 596
companies
in the Metals & Mining industry
Industry Median: 1.235
vs ASX:WAF: 0.48
West African Resources (ASX:WAF) Debt-to-EBITDA Explanation
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.
West African Resources Debt-to-EBITDA Related Terms
West African Resources Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for West African Resources'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.
For the Gold subindustry, West African Resources'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.
West African Resources Debt-to-EBITDA vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, West African Resources's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where West African Resources'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.
West African Resources (ASX:WAF) has a Debt-to-EBITDA of 0.38 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 West African Resources. This is 46% above median its historical median of 0.26. According to the industry distribution chart, West African Resources ranks #195 out of 596 companies in the Metals & Mining industry, placing it in the top 32.7%.
Is West African Resources' Debt-to-EBITDA too high?
West African Resources' current Debt-to-EBITDA of 0.38 is 46% above median its 10-year median of 0.26. The Metals & Mining industry median Debt-to-EBITDA is 1.24. West African Resources' value of 0.38 is 69.2% below this industry median. Based on the distribution chart, West African Resources ranks #195 out of 596 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, West African Resources has a GF Score™ of 96/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does West African Resources' Debt-to-EBITDA compare to NEM and AU?
According to the Metals & Mining industry distribution chart, West African Resources ranks #195 out of 596 companies for Debt-to-EBITDA. This puts West African Resources in the upper half of its industry. The industry median Debt-to-EBITDA is 1.24. West African Resources' value of 0.38 is 69.2% below this benchmark. While the company's 10-year median is 0.26 vs. the industry median of 1.24, West African Resources 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 a Metals & Mining company?
The median Debt-to-EBITDA among Metals & Mining companies is 1.24, based on 596 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. West African Resources's current Debt-to-EBITDA of 0.38 is 69.2% 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 West African Resources. For the Metals & Mining industry, the median Debt-to-EBITDA is 1.24 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. West African Resources's current Debt-to-EBITDA is 0.38, which is 46% above median its own 10-year median of 0.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is West African Resources stock overvalued right now?
Based on GuruFocus' analysis, West African Resources (ASX:WAF) is currently considered Significantly Undervalued. The stock's GF Value™ is A$4.59, compared to a current price of A$2.82 — trading 38.6% below its estimated fair value. The current Debt-to-EBITDA is 0.38, which is 46% above median its 10-year median of 0.26 and 69.2% below the Metals & Mining industry median of 1.24. West African Resources' overall GF Score™ is 96/100 with 3 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 West African Resources (ASX:WAF), the current Debt-to-EBITDA is 0.38 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 West African Resources (ASX:WAF) Overvalued in 2026?
Based on GuruFocus' analysis, West African Resources stock appears to be undervalued.
The current stock price of A$2.82 is trading 38.6% below its estimated GF Value™ of A$4.59.
GuruFocus considers West African Resources to be Significantly Undervalued.
Key valuation signals for ASX:WAF:
Debt-to-EBITDA: 0.38 (46% above median its 10-year median of 0.26)
GF Value™: A$4.59 vs. price of A$2.82 (38.6% below fair value)
Industry Position: 69.2% below the Metals & Mining median (#195 of 596)
No single metric tells the full story. See the ASX:WAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
West African Resources Ltd is engaged in mineral exploration in Burkina Faso. It focuses on the development of the Sanbrado Gold Project. The Group's mineral portfolio also includes gold and copper-gold exploration permits in Burkina Faso. The operating segments of the Company that includes Mining Operations: comprise the Sanbrado Gold Project operation located in Burkina Faso. Construction and E&E segment comprises mines under construction andexploration and evaluation (E&E) projects in locations other than Sanbrado.
96GF Score
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