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Aygaz ASIST:AYGAZ -2.32%53 Debt-to-EBITDA is 0.72 as of Mar. 2026, which is 35% below its 10-year median of 1.11. GuruFocus rates IST:AYGAZ with a GF Score™ of 53/100 and a GF Value™ of ₺158.55 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 449 Utilities - Regulated companies, Aygaz AS ranks better than 89.98% 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 Aygaz AS's Debt-to-EBITDA or its related term are showing as below:
IST:AYGAZ'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.31 Med: 1.11 Max: 4.07
Current: 0.38
During the past 13 years, the highest Debt-to-EBITDA Ratio of Aygaz AS was 4.07. The lowest was 0.31. And the median was 1.11.
IST:AYGAZ's Debt-to-EBITDA is ranked better than 89.98% of 449
companies
in the Utilities - Regulated industry
Industry Median: 4.04
vs IST:AYGAZ: 0.38
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.
Aygaz AS Debt-to-EBITDA Related Terms
Aygaz AS Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Aygaz AS'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.
IST:AYGAZ vs ATO, NI, UGI: Debt-to-EBITDA Comparison
For the Utilities - Regulated Gas subindustry, Aygaz AS'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.
Aygaz AS Debt-to-EBITDA vs Utilities - Regulated Industry
For the Utilities - Regulated industry and Utilities sector, Aygaz AS's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Aygaz AS'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.
Aygaz AS (IST:AYGAZ) has a Debt-to-EBITDA of 0.72 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 Aygaz AS. This is 35% below median its historical median of 1.11. Over the past decade, Aygaz AS's Debt-to-EBITDA has ranged from 0.31 to 4.07. According to the industry distribution chart, Aygaz AS ranks #45 out of 449 companies in the Utilities - Regulated industry, placing it in the top 10%.
Is Aygaz AS's Debt-to-EBITDA too high?
Aygaz AS's current Debt-to-EBITDA of 0.72 is 35% below median its 10-year median of 1.11. Over the past 10 years, this metric has ranged from a low of 0.31 to a high of 4.07. The Utilities - Regulated industry median Debt-to-EBITDA is 4.04. Aygaz AS's value of 0.72 is 82.2% below this industry median. Based on the distribution chart, Aygaz AS ranks #45 out of 449 companies in the Utilities - Regulated industry, which is in the top quartile — a strong position relative to peers. Overall, Aygaz AS has a GF Score™ of 53/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aygaz AS's Debt-to-EBITDA compare to ATO and NI?
According to the Utilities - Regulated industry distribution chart, Aygaz AS ranks #45 out of 449 companies for Debt-to-EBITDA. This places Aygaz AS in the top 10% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 4.04. Aygaz AS's value of 0.72 is 82.2% below this benchmark. Historically, Aygaz AS's own Debt-to-EBITDA has ranged from 0.31 to 4.07 over the past decade. While the company's 10-year median is 1.11 vs. the industry median of 4.04, Aygaz AS 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 an Utilities - Regulated company?
The median Debt-to-EBITDA among Utilities - Regulated companies is 4.04, based on 449 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. Aygaz AS's current Debt-to-EBITDA of 0.72 is 82.2% 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 Aygaz AS. For the Utilities - Regulated industry, the median Debt-to-EBITDA is 4.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aygaz AS's current Debt-to-EBITDA is 0.72, which is 35% below median its own 10-year median of 1.11. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aygaz AS stock overvalued right now?
Based on GuruFocus' analysis, Aygaz AS (IST:AYGAZ) is currently considered Significantly Overvalued. The stock's GF Value™ is ₺158.55, compared to a current price of ₺284.50 — trading 79.4% above its estimated fair value. The current Debt-to-EBITDA is 0.72, which is 35% below median its 10-year median of 1.11 and 82.2% below the Utilities - Regulated industry median of 4.04. Aygaz AS's overall GF Score™ is 53/100 with 10 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 Aygaz AS (IST:AYGAZ), the current Debt-to-EBITDA is 0.72 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 Aygaz AS (IST:AYGAZ) Overvalued in 2026?
Based on GuruFocus' analysis, Aygaz AS stock appears to be overvalued.
The current stock price of ₺284.50 is trading 79.4% above its estimated GF Value™ of ₺158.55.
GuruFocus considers Aygaz AS to be Significantly Overvalued.
Key valuation signals for IST:AYGAZ:
Debt-to-EBITDA: 0.72 (35% below median its 10-year median of 1.11)
GF Value™: ₺158.55 vs. price of ₺284.50 (79.4% above fair value)
Industry Position: 82.2% below the Utilities - Regulated median (#45 of 449)
No single metric tells the full story. See the IST:AYGAZ stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aygaz AS is a gas company engaged in the sale and distribution of liquefied petroleum gas, or LPG, and natural gas products in Turkey. The group has three operating segments which are LPG and gas, cargo transportation and distribution, petroleum products, and electricity. It generates the majority of its revenue from the LPG and gas segment.
53GF Score
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