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HeiwaFRA:HWC 69 Debt-to-EBITDA is 17.57 as of Mar. 2026, which is 312% above its 10-year median of 4.26. GuruFocus rates FRA:HWC with a GF Score™ of 69/100 and a GF Value™ of €21.54. The stock has 6 warning signs investors should review. Among 653 Travel & Leisure companies, Heiwa ranks worse than 86.37% 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 Heiwa's Debt-to-EBITDA or its related term are showing as below:
FRA:HWC'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.82 Med: 4.26 Max: 19.2
Current: 7.98
During the past 13 years, the highest Debt-to-EBITDA Ratio of Heiwa was 19.20. The lowest was 2.82. And the median was 4.26.
FRA:HWC's Debt-to-EBITDA is ranked worse than 86.37% of 653
companies
in the Travel & Leisure industry
Industry Median: 2.45
vs FRA:HWC: 7.98
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.
Heiwa Debt-to-EBITDA Related Terms
Heiwa Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Heiwa'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.
FRA:HWC vs AS, HAS, LTH: Debt-to-EBITDA Comparison
For the Leisure subindustry, Heiwa'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.
Heiwa Debt-to-EBITDA vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Heiwa's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Heiwa'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.
Heiwa (FRA:HWC) has a Debt-to-EBITDA of 17.57 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 Heiwa. This is 312% above median its historical median of 4.26. Over the past decade, Heiwa's Debt-to-EBITDA has ranged from 2.82 to 19.20. According to the industry distribution chart, Heiwa ranks #564 out of 653 companies in the Travel & Leisure industry, placing it in the top 86.4%.
Is Heiwa's Debt-to-EBITDA too high?
Heiwa's current Debt-to-EBITDA of 17.57 is 312% above median its 10-year median of 4.26. Over the past 10 years, this metric has ranged from a low of 2.82 to a high of 19.20. The Travel & Leisure industry median Debt-to-EBITDA is 2.45. Heiwa's value of 17.57 is 617.1% above this industry median. Based on the distribution chart, Heiwa ranks #564 out of 653 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Heiwa has a GF Score™ of 69/100, reflecting its overall financial health beyond just this single metric.
How does Heiwa's Debt-to-EBITDA compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Heiwa ranks #564 out of 653 companies for Debt-to-EBITDA. This places Heiwa in the lower half of its industry. The industry median Debt-to-EBITDA is 2.45. Heiwa's value of 17.57 is 617.1% above this benchmark. Historically, Heiwa's own Debt-to-EBITDA has ranged from 2.82 to 19.20 over the past decade. While the company's 10-year median is 4.26 vs. the industry median of 2.45, Heiwa 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 Travel & Leisure company?
The median Debt-to-EBITDA among Travel & Leisure companies is 2.45, based on 653 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. Heiwa's current Debt-to-EBITDA of 17.57 is 617.1% 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 Heiwa. For the Travel & Leisure industry, the median Debt-to-EBITDA is 2.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heiwa's current Debt-to-EBITDA is 17.57, which is 312% above median its own 10-year median of 4.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heiwa stock overvalued right now?
Heiwa (FRA:HWC) has a current Debt-to-EBITDA of 17.57. The stock's GF Value™ is €21.54, compared to a current price of €11.40 — trading 47.1% below its estimated fair value. The current Debt-to-EBITDA is 17.57, which is 312% above median its 10-year median of 4.26 and 617.1% above the Travel & Leisure industry median of 2.45. Heiwa's overall GF Score™ is 69/100 with 6 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 Heiwa (FRA:HWC), the current Debt-to-EBITDA is 17.57 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 Heiwa (FRA:HWC) Overvalued in 2026?
Based on GuruFocus' analysis, Heiwa stock appears to be undervalued.
The current stock price of €11.40 is trading 47.1% below its estimated GF Value™ of €21.54.
Key valuation signals for FRA:HWC:
Debt-to-EBITDA: 17.57 (312% above median its 10-year median of 4.26)
GF Value™: €21.54 vs. price of €11.40 (47.1% below fair value)
Industry Position: 617.1% above the Travel & Leisure median (#564 of 653)
No single metric tells the full story. See the FRA:HWC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heiwa Corp is a gambling company involved in the manufacturing and sales of pachinko and pachislot machines. The company operates in two business segments: game machines and golf. The game machine business develops pachinko machines, a gambling device with pinball-like characteristics, which are sold to pachinko parlors throughout Japan. Pachinko parlors allow users to purchase small steel balls, which are utilized in pachinko machines under the objective of winning more balls, which can then be exchanged for prizes. Pachislot machines, which are a similar gambling device with characteristics of pachinko and slot machines, are developed in a similar manner. The company's golf segment operates a number of golf courses. Heiwa generates the vast majority of its revenue in Japan.
69GF Score
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