Forth PCLBKK:FORTH-R 81 Debt-to-EBITDA is 2.60 as of Mar. 2026, which is 10% above its 10-year median of 2.37. GuruFocus rates BKK:FORTH-R with a GF Score™ of 81/100 and a GF Value™ of ฿5.51. The stock has 9 warning signs investors should review. Among 458 Conglomerates companies, Forth PCL ranks better than 57.86% 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 Forth PCL's Debt-to-EBITDA or its related term are showing as below:
BKK:FORTH-R'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.05 Med: 2.37 Max: 3.53
Current: 2.2
During the past 13 years, the highest Debt-to-EBITDA Ratio of Forth PCL was 3.53. The lowest was 2.05. And the median was 2.37.
BKK:FORTH-R's Debt-to-EBITDA is ranked better than 57.86% of 458
companies
in the Conglomerates industry
Industry Median: 2.76
vs BKK:FORTH-R: 2.20
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.
Forth PCL Debt-to-EBITDA Related Terms
Forth PCL Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Forth PCL'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.
BKK:FORTH-R vs HON, MMM: Debt-to-EBITDA Comparison
For the Conglomerates subindustry, Forth PCL'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.
Forth PCL Debt-to-EBITDA vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Forth PCL's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Forth PCL'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 four times the quarterly (Mar. 2026) EBITDA data.
Forth PCL (BKK:FORTH-R) has a Debt-to-EBITDA of 2.60 as of Mar. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Forth PCL. This is 10% above median its historical median of 2.37. Over the past decade, Forth PCL's Debt-to-EBITDA has ranged from 2.05 to 3.53. According to the industry distribution chart, Forth PCL ranks #193 out of 458 companies in the Conglomerates industry, placing it in the top 42.1%.
Is Forth PCL's Debt-to-EBITDA too high?
Forth PCL's current Debt-to-EBITDA of 2.60 is 10% above median its 10-year median of 2.37. Over the past 10 years, this metric has ranged from a low of 2.05 to a high of 3.53. The Conglomerates industry median Debt-to-EBITDA is 2.76. Forth PCL's value of 2.60 is 5.8% below this industry median. Based on the distribution chart, Forth PCL ranks #193 out of 458 companies in the Conglomerates industry, which is above the industry midpoint. Overall, Forth PCL has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Forth PCL's Debt-to-EBITDA compare to HON and MMM?
According to the Conglomerates industry distribution chart, Forth PCL ranks #193 out of 458 companies for Debt-to-EBITDA. This puts Forth PCL in the upper half of its industry. The industry median Debt-to-EBITDA is 2.76. Forth PCL's value of 2.60 is 5.8% below this benchmark. Historically, Forth PCL's own Debt-to-EBITDA has ranged from 2.05 to 3.53 over the past decade. While the company's 10-year median is 2.37 vs. the industry median of 2.76, Forth PCL 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 Conglomerates company?
The median Debt-to-EBITDA among Conglomerates companies is 2.76, based on 458 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. Forth PCL's current Debt-to-EBITDA of 2.60 is 5.8% 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 Forth PCL. For the Conglomerates industry, the median Debt-to-EBITDA is 2.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Forth PCL's current Debt-to-EBITDA is 2.60, which is 10% above median its own 10-year median of 2.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Forth PCL stock overvalued right now?
Forth PCL (BKK:FORTH-R) has a current Debt-to-EBITDA of 2.60. The stock's GF Value™ is ฿5.51, compared to a current price of ฿6.44 — trading 16.8% above its estimated fair value. The current Debt-to-EBITDA is 2.60, which is 10% above median its 10-year median of 2.37 and 5.8% below the Conglomerates industry median of 2.76. Forth PCL's overall GF Score™ is 81/100 with 9 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 Forth PCL (BKK:FORTH-R), the current Debt-to-EBITDA is 2.60 as of Mar. 2026. 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 Forth PCL (BKK:FORTH-R) Overvalued in 2026?
Based on GuruFocus' analysis, Forth PCL stock appears to be overvalued.
The current stock price of ฿6.44 is trading 16.8% above its estimated GF Value™ of ฿5.51.
Key valuation signals for BKK:FORTH-R:
Debt-to-EBITDA: 2.60 (10% above median its 10-year median of 2.37)
GF Value™: ฿5.51 vs. price of ฿6.44 (16.8% above fair value)
Industry Position: 5.8% below the Conglomerates median (#193 of 458)
No single metric tells the full story. See the BKK:FORTH-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Forth Corp PCL manufactures and distributes electronic equipment and project work relating to design and install telecommunication equipment. The company's segments include Electronics manufacturing service business sources, manufactures and distributes electronics parts, both work manufactured order and general equipment; Enterprise solutions business bids for project work, sources, subcontracts and install various systems for the government and private sectors; Smart service business provides online financial transaction service and sells products and service through vending machines and provides lending services. The Enterprise solutions business derives the majority of the revenue. Geographically it operates in Thailand, Netherlands, United States of America, and Others.
81GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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