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Japan Exchange GroupFRA:OSK 85 Debt-to-EBITDA is 0.49 as of Mar. 2026, which is 17% below its 10-year median of 0.59. GuruFocus rates FRA:OSK with a GF Score™ of 85/100 and a GF Value™ of €9.40 (Modestly Overvalued). The stock has 9 warning signs investors should review. Among 422 Capital Markets companies, Japan Exchange Group ranks better than 69.91% 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 Japan Exchange Group's Debt-to-EBITDA or its related term are showing as below:
FRA:OSK'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.39 Med: 0.59 Max: 0.72
Current: 0.48
During the past 13 years, the highest Debt-to-EBITDA Ratio of Japan Exchange Group was 0.72. The lowest was 0.39. And the median was 0.59.
FRA:OSK's Debt-to-EBITDA is ranked better than 69.91% of 422
companies
in the Capital Markets industry
Industry Median: 1.645
vs FRA:OSK: 0.48
Japan Exchange Group (FRA:OSK) Debt-to-EBITDA Explanation
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 Exchange Group Debt-to-EBITDA Related Terms
Japan Exchange Group Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Japan Exchange 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.
FRA:OSK vs SPGI, CME, MCO: Debt-to-EBITDA Comparison
For the Financial Data & Stock Exchanges subindustry, Japan Exchange 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.
Japan Exchange Group Debt-to-EBITDA vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Japan Exchange Group's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Japan Exchange 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 four times the quarterly (Mar. 2026) EBITDA data.
Japan Exchange Group (FRA:OSK) has a Debt-to-EBITDA of 0.49 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 Japan Exchange Group. This is 17% below median its historical median of 0.59. Over the past decade, Japan Exchange Group's Debt-to-EBITDA has ranged from 0.39 to 0.72. According to the industry distribution chart, Japan Exchange Group ranks #127 out of 422 companies in the Capital Markets industry, placing it in the top 30.1%.
Is Japan Exchange Group's Debt-to-EBITDA too high?
Japan Exchange Group's current Debt-to-EBITDA of 0.49 is 17% below median its 10-year median of 0.59. Over the past 10 years, this metric has ranged from a low of 0.39 to a high of 0.72. The Capital Markets industry median Debt-to-EBITDA is 1.65. Japan Exchange Group's value of 0.49 is 70.2% below this industry median. Based on the distribution chart, Japan Exchange Group ranks #127 out of 422 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Japan Exchange Group has a GF Score™ of 85/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Exchange Group's Debt-to-EBITDA compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Japan Exchange Group ranks #127 out of 422 companies for Debt-to-EBITDA. This puts Japan Exchange Group in the upper half of its industry. The industry median Debt-to-EBITDA is 1.65. Japan Exchange Group's value of 0.49 is 70.2% below this benchmark. Historically, Japan Exchange Group's own Debt-to-EBITDA has ranged from 0.39 to 0.72 over the past decade. While the company's 10-year median is 0.59 vs. the industry median of 1.65, Japan Exchange 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 Capital Markets company?
The median Debt-to-EBITDA among Capital Markets companies is 1.65, based on 422 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. Japan Exchange Group's current Debt-to-EBITDA of 0.49 is 70.2% 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 Japan Exchange Group. For the Capital Markets industry, the median Debt-to-EBITDA is 1.65 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Exchange Group's current Debt-to-EBITDA is 0.49, which is 17% below median its own 10-year median of 0.59. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Exchange Group stock overvalued right now?
Based on GuruFocus' analysis, Japan Exchange Group (FRA:OSK) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.40, compared to a current price of €11.70 — trading 24.5% above its estimated fair value. The current Debt-to-EBITDA is 0.49, which is 17% below median its 10-year median of 0.59 and 70.2% below the Capital Markets industry median of 1.65. Japan Exchange Group's overall GF Score™ is 85/100 with 9 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 Japan Exchange Group (FRA:OSK), the current Debt-to-EBITDA is 0.49 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 Japan Exchange Group (FRA:OSK) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Exchange Group stock appears to be overvalued.
The current stock price of €11.70 is trading 24.5% above its estimated GF Value™ of €9.40.
GuruFocus considers Japan Exchange Group to be Modestly Overvalued.
Key valuation signals for FRA:OSK:
Debt-to-EBITDA: 0.49 (17% below median its 10-year median of 0.59)
GF Value™: €9.40 vs. price of €11.70 (24.5% above fair value)
Industry Position: 70.2% below the Capital Markets median (#127 of 422)
No single metric tells the full story. See the FRA:OSK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Exchange Group is a vertically integrated securities exchange business, which includes the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange. JPX ranks among the top five largest stock exchange operators in the world by market capitalization, and its Nikkei 225 and Topix derivatives products are some of the most widely traded derivatives products in the world.
85GF Score
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Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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