Japan Tobacco (FRA:JAT) Debt-to-EBITDA : N/A (As of Jun. 2026)

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.

FRA:JAT Japan Tobacco Inc FRA:JAT
75 GF Score
Price €38.58
GF Value €22.50
Valuation Significantly Overvalued
! 7 Warning Signs
View Full Analysis

What is Japan Tobacco Debt-to-EBITDA?

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

Japan Tobacco's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was €632 Mil. Japan Tobacco's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was €8,421 Mil. Japan Tobacco's annualized EBITDA for the quarter that ended in Jun. 2026 was €0 Mil.

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 Japan Tobacco's Debt-to-EBITDA or its related term are showing as below:

FRA:JAT' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.74   Med: 1.32   Max: 3.07
Current: 1.42

During the past 13 years, the highest Debt-to-EBITDA Ratio of Japan Tobacco was 3.07. The lowest was 0.74. And the median was 1.32.

FRA:JAT's Debt-to-EBITDA is ranked worse than
54.29% of 35 companies
in the Tobacco Products industry
Industry Median: 1.37 vs FRA:JAT: 1.42

Japan Tobacco  (FRA:JAT) 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.

Japan Tobacco Debt-to-EBITDA Related Terms

Japan Tobacco Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Japan Tobacco'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.

Japan Tobacco Debt-to-EBITDA Chart

Japan Tobacco Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-EBITDA
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1.30 1.08 1.28 3.07 1.48

Japan Tobacco Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 1.36 1.15 2.56 1.21 N/A

FRA:JAT vs PM, MO, TPB: Debt-to-EBITDA Comparison

For the Tobacco subindustry, Japan Tobacco'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.

Japan Tobacco Debt-to-EBITDA vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Japan Tobacco's Debt-to-EBITDA distribution charts can be found below:

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


FRA:JAT
75GF Score
Japan Tobacco Inc FRA:JAT
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Japan Tobacco Debt-to-EBITDA Calculation

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

Japan Tobacco's Debt-to-EBITDA for the fiscal year that ended in Dec. 2025 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(436.144 + 8758.606) / 6194.213
=1.48

Japan Tobacco's annualized Debt-to-EBITDA for the quarter that ended in Jun. 2026 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(632.155 + 8420.766) / 0
=N/A

* 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 (Jun. 2026) EBITDA data.

Is Japan Tobacco (FRA:JAT) Overvalued in 2026?

Based on GuruFocus' analysis, Japan Tobacco stock appears to be overvalued. The current stock price of €38.58 is trading 71.5% above its estimated GF Value™ of €22.50. GuruFocus considers Japan Tobacco to be Significantly Overvalued.

Key valuation signals for FRA:JAT:

  • Debt-to-EBITDA: N/A
  • GF Value™: €22.50 vs. price of €38.58 (71.5% above fair value)
  • GF Score™: 75/100 with 7 warning signs

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

Japan Tobacco Business Description

Address 4-1-1 Toranomon, Minato-ku, Tokyo, JPN, 105-6927
Japan Tobacco primarily sells cigarettes and reduced-risk products, organized in three clusters consisting of Asia (which includes its home market and countries in Asia Pacific), Western Europe, and EMA (which includes Eastern Europe, the Middle East North Africa, Turkey, Americas, and duty-free). Its leading cigarette brands include Winston (non-US), Camel (non-US), Mevius, and LD. Its reduced-risk brands include Logic in vaping, Ploom in heated tobacco, and Nordic Spirit in nicotine pouches, though these generates less than 5% of tobacco sales.
75GF Score

Get the complete analysis for FRA:JAT

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

€38.58
Price
€22.50
GF Value