Sao Martinho (BSP:SMTO3) Debt-to-EBITDA : 3.03 (As of Mar. 2026) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

BSP:SMTO3 Sao Martinho SA BSP:SMTO3
74 GF Score
Price R$15.45
GF Value R$25.49
Valuation Possible Value Trap
! 8 Warning Signs
View Full Analysis

What is Sao Martinho Debt-to-EBITDA?

Sao Martinho BSP:SMTO3 -1.72% 74 Debt-to-EBITDA is 3.03 as of Mar. 2026, which is 6% below its 10-year median of 3.24. GuruFocus rates BSP:SMTO3 with a GF Score™ of 74/100 and a GF Value™ of R$25.49 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 1,234 Chemicals companies, Sao Martinho ranks worse than 69.45% on this metric.

Debt-to-EBITDA measures a company's ability to pay off its debt.

Sao Martinho's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was R$1,065 Mil. Sao Martinho's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was R$8,880 Mil. Sao Martinho's annualized EBITDA for the quarter that ended in Mar. 2026 was R$3,281 Mil. Sao Martinho's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 was 3.03.

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 Sao Martinho's Debt-to-EBITDA or its related term are showing as below:

BSP:SMTO3' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.82   Med: 3.24   Max: 4.23
Current: 4.1

During the past 13 years, the highest Debt-to-EBITDA Ratio of Sao Martinho was 4.23. The lowest was 1.82. And the median was 3.24.

BSP:SMTO3's Debt-to-EBITDA is ranked worse than
69.45% of 1234 companies
in the Chemicals industry
Industry Median: 2.16 vs BSP:SMTO3: 4.10

Sao Martinho  (BSP:SMTO3) Debt-to-EBITDA Explanation

In the calculation of Debt-to-EBITDA, we use the total of Short-Term Debt & Capital Lease Obligation and Long-Term Debt & Capital Lease Obligation divided by EBITDA. In some calculations, Total Liabilities is used to for calculation.


Be Aware

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.


Sao Martinho Debt-to-EBITDA Related Terms


Sao Martinho Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Sao Martinho'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.

Sao Martinho Debt-to-EBITDA Chart

Sao Martinho Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Debt-to-EBITDA
Get a 7-Day Free Trial Premium Member Only Premium Member Only 2.18 2.78 1.82 3.62 4.12

Sao Martinho Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Debt-to-EBITDA Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2.92 4.06 4.15 4.79 3.03

BSP:SMTO3 vs LIN, SHW, ECL: Debt-to-EBITDA Comparison

For the Specialty Chemicals subindustry, Sao Martinho'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.


Sao Martinho Debt-to-EBITDA vs Chemicals Industry

For the Chemicals industry and Basic Materials sector, Sao Martinho's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Sao Martinho's Debt-to-EBITDA falls into.


BSP:SMTO3
74GF Score
Sao Martinho SA BSP:SMTO3
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Sao Martinho Debt-to-EBITDA Calculation

Debt-to-EBITDA measures a company's ability to pay off its debt.

Sao Martinho's Debt-to-EBITDA for the fiscal year that ended in Mar. 2026 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(1064.532 + 8880.069) / 2415.992
=4.12

Sao Martinho's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(1064.532 + 8880.069) / 3281.188
=3.03

* 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.

Frequently Asked Questions Learn more about Debt-to-EBITDA →
What does a Debt-to-EBITDA of 3.03 mean?
Sao Martinho (BSP:SMTO3) has a Debt-to-EBITDA of 3.03 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 Sao Martinho. This is near median its historical median of 3.24. Over the past decade, Sao Martinho's Debt-to-EBITDA has ranged from 1.82 to 4.23. According to the industry distribution chart, Sao Martinho ranks #857 out of 1234 companies in the Chemicals industry, placing it in the top 69.4%.
Is Sao Martinho's Debt-to-EBITDA too high?
Sao Martinho's current Debt-to-EBITDA of 3.03 is near median its 10-year median of 3.24. Over the past 10 years, this metric has ranged from a low of 1.82 to a high of 4.23. The Chemicals industry median Debt-to-EBITDA is 2.16. Sao Martinho's value of 3.03 is 40.3% above this industry median. Based on the distribution chart, Sao Martinho ranks #857 out of 1234 companies in the Chemicals industry, which is below the industry midpoint. Overall, Sao Martinho has a GF Score™ of 74/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Sao Martinho's Debt-to-EBITDA compare to LIN and SHW?
According to the Chemicals industry distribution chart, Sao Martinho ranks #857 out of 1234 companies for Debt-to-EBITDA. This places Sao Martinho in the lower half of its industry. The industry median Debt-to-EBITDA is 2.16. Sao Martinho's value of 3.03 is 40.3% above this benchmark. Historically, Sao Martinho's own Debt-to-EBITDA has ranged from 1.82 to 4.23 over the past decade. While the company's 10-year median is 3.24 vs. the industry median of 2.16, Sao Martinho 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 Chemicals company?
The median Debt-to-EBITDA among Chemicals companies is 2.16, based on 1,234 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. Sao Martinho's current Debt-to-EBITDA of 3.03 is 40.3% 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 Sao Martinho. For the Chemicals industry, the median Debt-to-EBITDA is 2.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sao Martinho's current Debt-to-EBITDA is 3.03, which is near median its own 10-year median of 3.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sao Martinho stock overvalued right now?
Based on GuruFocus' analysis, Sao Martinho (BSP:SMTO3) is currently considered Possible Value Trap. The stock's GF Value™ is R$25.49, compared to a current price of R$15.45 — trading 39.4% below its estimated fair value. The current Debt-to-EBITDA is 3.03, which is near median its 10-year median of 3.24 and 40.3% above the Chemicals industry median of 2.16. Sao Martinho's overall GF Score™ is 74/100 with 8 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 Sao Martinho (BSP:SMTO3), the current Debt-to-EBITDA is 3.03 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 Sao Martinho (BSP:SMTO3) Overvalued in 2026?

Based on GuruFocus' analysis, Sao Martinho stock appears to be undervalued. The current stock price of R$15.45 is trading 39.4% below its estimated GF Value™ of R$25.49. GuruFocus considers Sao Martinho to be Possible Value Trap.

Key valuation signals for BSP:SMTO3:

  • Debt-to-EBITDA: 3.03 (near median its 10-year median of 3.24)
  • GF Value™: R$25.49 vs. price of R$15.45 (39.4% below fair value)
  • GF Score™: 74/100 with 8 warning signs
  • Industry Position: 40.3% above the Chemicals median (#857 of 1234)

No single metric tells the full story. See the BSP:SMTO3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Sao Martinho Business Description

Address Fazenda Sao Martinho, Pradopolis, SP, BRA, CEP 14850-000
Sao Martinho SA operates the following segments: sugar, ethanol, electricity, real estate ventures, Yeast, and other products. Sales of sugar and ethanol, both of which the company produces with sugar cane, comprise the vast majority of the company's revenue. Sao Martinho produces sugar and ethanol in its four Brazilian mills. The company derives its sugar cane mostly from its own plantations, agricultural partnerships, shareholders, and related companies. Sao Martinho exports most of its sugar, and it sells most of its ethanol domestically.
74GF Score

Get the complete analysis for BSP:SMTO3

Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

R$15.45
Price
R$25.49
GF Value