AFMACAS:AFM 36 Debt-to-EBITDA is 1.80 as of Dec. 2025, which is 46% above its 10-year median of 1.23. GuruFocus rates CAS:AFM with a GF Score™ of 36/100 and a GF Value™ of MAD1,577.48 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 323 Insurance companies, AFMA ranks worse than 51.39% 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 AFMA's Debt-to-EBITDA or its related term are showing as below:
CAS:AFM'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.22 Med: 1.23 Max: 1.39
Current: 1.23
During the past 11 years, the highest Debt-to-EBITDA Ratio of AFMA was 1.39. The lowest was 0.22. And the median was 1.23.
CAS:AFM's Debt-to-EBITDA is ranked worse than 51.39% of 323
companies
in the Insurance industry
Industry Median: 1.17
vs CAS:AFM: 1.23
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.
AFMA Debt-to-EBITDA Related Terms
AFMA Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for AFMA'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.
CAS:AFM vs MRSH, AON, AJG: Debt-to-EBITDA Comparison
For the Insurance Brokers subindustry, AFMA'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.
AFMA Debt-to-EBITDA vs Insurance Industry
For the Insurance industry and Financial Services sector, AFMA's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where AFMA'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.
AFMA (CAS:AFM) has a Debt-to-EBITDA of 1.80 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 AFMA. This is 46% above median its historical median of 1.23. Over the past decade, AFMA's Debt-to-EBITDA has ranged from 0.22 to 1.39. According to the industry distribution chart, AFMA ranks #166 out of 323 companies in the Insurance industry, placing it in the top 51.4%.
Is AFMA's Debt-to-EBITDA too high?
AFMA's current Debt-to-EBITDA of 1.80 is 46% above median its 10-year median of 1.23. Over the past 10 years, this metric has ranged from a low of 0.22 to a high of 1.39. The Insurance industry median Debt-to-EBITDA is 1.17. AFMA's value of 1.80 is 53.8% above this industry median. Based on the distribution chart, AFMA ranks #166 out of 323 companies in the Insurance industry, which is below the industry midpoint. Overall, AFMA has a GF Score™ of 36/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does AFMA's Debt-to-EBITDA compare to MRSH and AON?
According to the Insurance industry distribution chart, AFMA ranks #166 out of 323 companies for Debt-to-EBITDA. This places AFMA in the lower half of its industry. The industry median Debt-to-EBITDA is 1.17. AFMA's value of 1.80 is 53.8% above this benchmark. Historically, AFMA's own Debt-to-EBITDA has ranged from 0.22 to 1.39 over the past decade. While the company's 10-year median is 1.23 vs. the industry median of 1.17, AFMA 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 an Insurance company?
The median Debt-to-EBITDA among Insurance companies is 1.17, based on 323 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. AFMA's current Debt-to-EBITDA of 1.80 is 53.8% 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 AFMA. For the Insurance industry, the median Debt-to-EBITDA is 1.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AFMA's current Debt-to-EBITDA is 1.80, which is 46% above median its own 10-year median of 1.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AFMA stock overvalued right now?
Based on GuruFocus' analysis, AFMA (CAS:AFM) is currently considered Modestly Undervalued. The stock's GF Value™ is MAD1,577.48, compared to a current price of MAD1,240.00 — trading 21.4% below its estimated fair value. The current Debt-to-EBITDA is 1.80, which is 46% above median its 10-year median of 1.23 and 53.8% above the Insurance industry median of 1.17. AFMA's overall GF Score™ is 36/100 with 4 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 AFMA (CAS:AFM), the current Debt-to-EBITDA is 1.80 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 AFMA (CAS:AFM) Overvalued in 2026?
Based on GuruFocus' analysis, AFMA stock appears to be undervalued.
The current stock price of MAD1,240.00 is trading 21.4% below its estimated GF Value™ of MAD1,577.48.
GuruFocus considers AFMA to be Modestly Undervalued.
Key valuation signals for CAS:AFM:
Debt-to-EBITDA: 1.80 (46% above median its 10-year median of 1.23)
GF Value™: MAD1,577.48 vs. price of MAD1,240.00 (21.4% below fair value)
Industry Position: 53.8% above the Insurance median (#166 of 323)
No single metric tells the full story. See the CAS:AFM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AFMA SA provides insurance brokerage services in Morocco. It offers insurance products including Damage Insurance, Insurance Operating Losses, Civil Responsibilities, Car insurance, Transport Insurance, Construction-Related Insurance, Insurance of Persons and Credit insurance. It provides insurance services to both individuals and corporate clients.
36GF Score
Get the complete analysis for CAS:AFM
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
CAS:AFM has been successfully added to your 
