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Marks & Spencer GroupCHIX:MKSL -0.76%84 Debt-to-EBITDA is 2.19 as of Mar. 2026, which is 28% below its 10-year median of 3.05. GuruFocus rates CHIX:MKSL with a GF Score™ of 84/100 and a GF Value™ of £4.18 (Fairly Valued). The stock has 3 warning signs investors should review. Among 904 Retail - Cyclical companies, Marks & Spencer Group ranks worse than 56.97% 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 Marks & Spencer Group's Debt-to-EBITDA or its related term are showing as below:
CHIX:MKSl'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.91 Med: 3.05 Max: 5.72
Current: 2.83
During the past 13 years, the highest Debt-to-EBITDA Ratio of Marks & Spencer Group was 5.72. The lowest was 1.91. And the median was 3.05.
CHIX:MKSl's Debt-to-EBITDA is ranked worse than 56.97% of 904
companies
in the Retail - Cyclical industry
Industry Median: 2.375
vs CHIX:MKSl: 2.83
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.
Marks & Spencer Group Debt-to-EBITDA Related Terms
Marks & Spencer Group Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Marks & Spencer Group'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 Department Stores subindustry, Marks & Spencer Group'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.
Marks & Spencer Group Debt-to-EBITDA vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Marks & Spencer Group's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Marks & Spencer Group'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 (Mar. 2026) EBITDA data.
Marks & Spencer Group (CHIX:MKSL) has a Debt-to-EBITDA of 2.19 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 Marks & Spencer Group. This is 28% below median its historical median of 3.05. Over the past decade, Marks & Spencer Group's Debt-to-EBITDA has ranged from 1.91 to 5.72. According to the industry distribution chart, Marks & Spencer Group ranks #515 out of 904 companies in the Retail - Cyclical industry, placing it in the top 57%.
Is Marks & Spencer Group's Debt-to-EBITDA too high?
Marks & Spencer Group's current Debt-to-EBITDA of 2.19 is 28% below median its 10-year median of 3.05. Over the past 10 years, this metric has ranged from a low of 1.91 to a high of 5.72. The Retail - Cyclical industry median Debt-to-EBITDA is 2.38. Marks & Spencer Group's value of 2.19 is 7.8% below this industry median. Based on the distribution chart, Marks & Spencer Group ranks #515 out of 904 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Marks & Spencer Group has a GF Score™ of 84/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Marks & Spencer Group's Debt-to-EBITDA compare to DDS and M?
According to the Retail - Cyclical industry distribution chart, Marks & Spencer Group ranks #515 out of 904 companies for Debt-to-EBITDA. This places Marks & Spencer Group in the lower half of its industry. The industry median Debt-to-EBITDA is 2.38. Marks & Spencer Group's value of 2.19 is 7.8% below this benchmark. Historically, Marks & Spencer Group's own Debt-to-EBITDA has ranged from 1.91 to 5.72 over the past decade. While the company's 10-year median is 3.05 vs. the industry median of 2.38, Marks & Spencer Group 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 Retail - Cyclical company?
The median Debt-to-EBITDA among Retail - Cyclical companies is 2.38, based on 904 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. Marks & Spencer Group's current Debt-to-EBITDA of 2.19 is 7.8% 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 Marks & Spencer Group. For the Retail - Cyclical industry, the median Debt-to-EBITDA is 2.38 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Marks & Spencer Group's current Debt-to-EBITDA is 2.19, which is 28% below median its own 10-year median of 3.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Marks & Spencer Group stock overvalued right now?
Based on GuruFocus' analysis, Marks & Spencer Group (CHIX:MKSL) is currently considered Fairly Valued. The stock's GF Value™ is £4.18, compared to a current price of £4.07 — trading 2.7% below its estimated fair value. The current Debt-to-EBITDA is 2.19, which is 28% below median its 10-year median of 3.05 and 7.8% below the Retail - Cyclical industry median of 2.38. Marks & Spencer Group's overall GF Score™ is 84/100 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 Marks & Spencer Group (CHIX:MKSL), the current Debt-to-EBITDA is 2.19 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 Marks & Spencer Group (CHIX:MKSL) Overvalued in 2026?
Based on GuruFocus' analysis, Marks & Spencer Group stock appears to be undervalued.
The current stock price of £4.07 is trading 2.7% below its estimated GF Value™ of £4.18.
GuruFocus considers Marks & Spencer Group to be Fairly Valued.
Key valuation signals for CHIX:MKSL:
Debt-to-EBITDA: 2.19 (28% below median its 10-year median of 3.05)
GF Value™: £4.18 vs. price of £4.07 (2.7% below fair value)
Industry Position: 7.8% below the Retail - Cyclical median (#515 of 904)
No single metric tells the full story. See the CHIX:MKSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Marks & Spencer is a British multichannel retailer with stores across Europe, Asia, and the Middle East. The majority of revenue stems from the firm's UK operations, selling its own-brand food, clothing, and home merchandise predominantly. The food segment includes value products (dairy, poultry, meat, fresh produce), ready-made meals, and healthy items. The clothing and home division sells women's wear, lingerie, men's wear, kids' wear, beauty, and home products. The remaining revenue comes from international sales, where M&S sells through a mix of its own stores, franchises, and online channels.In 2020, the firm entered into a joint venture, purchasing 50% of grocery e-commerce business Ocado Retail. Ocado is the exclusive online distributor of M&S food within the UK.
84GF Score
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