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AECIJSE:AFE -0.25%70 Debt-to-EBITDA is 2.37 as of Dec. 2025, which is 20% above its 10-year median of 1.98. GuruFocus rates JSE:AFE with a GF Score™ of 70/100 and a GF Value™ of R91.26 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 1,239 Chemicals companies, AECI ranks worse than 55.53% 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 AECI's Debt-to-EBITDA or its related term are showing as below:
JSE:AFE'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.8 Med: 1.98 Max: 3.62
Current: 2.62
During the past 13 years, the highest Debt-to-EBITDA Ratio of AECI was 3.62. The lowest was 0.80. And the median was 1.98.
JSE:AFE's Debt-to-EBITDA is ranked worse than 55.53% of 1239
companies
in the Chemicals industry
Industry Median: 2.15
vs JSE:AFE: 2.62
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.
AECI Debt-to-EBITDA Related Terms
AECI Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for AECI'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.
JSE:AFE vs LIN, SHW, ECL: Debt-to-EBITDA Comparison
For the Specialty Chemicals subindustry, AECI'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.
AECI Debt-to-EBITDA vs Chemicals Industry
For the Chemicals industry and Basic Materials sector, AECI's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where AECI'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 (Dec. 2025) EBITDA data.
AECI (JSE:AFE) has a Debt-to-EBITDA of 2.37 as of Dec. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on AECI. This is 20% above median its historical median of 1.98. Over the past decade, AECI's Debt-to-EBITDA has ranged from 0.80 to 3.62. According to the industry distribution chart, AECI ranks #688 out of 1239 companies in the Chemicals industry, placing it in the top 55.5%.
Is AECI's Debt-to-EBITDA too high?
AECI's current Debt-to-EBITDA of 2.37 is 20% above median its 10-year median of 1.98. Over the past 10 years, this metric has ranged from a low of 0.80 to a high of 3.62. The Chemicals industry median Debt-to-EBITDA is 2.15. AECI's value of 2.37 is 10.2% above this industry median. Based on the distribution chart, AECI ranks #688 out of 1239 companies in the Chemicals industry, which is below the industry midpoint. Overall, AECI has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does AECI's Debt-to-EBITDA compare to LIN and SHW?
According to the Chemicals industry distribution chart, AECI ranks #688 out of 1239 companies for Debt-to-EBITDA. This places AECI in the lower half of its industry. The industry median Debt-to-EBITDA is 2.15. AECI's value of 2.37 is 10.2% above this benchmark. Historically, AECI's own Debt-to-EBITDA has ranged from 0.80 to 3.62 over the past decade. While the company's 10-year median is 1.98 vs. the industry median of 2.15, AECI 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 Chemicals company?
The median Debt-to-EBITDA among Chemicals companies is 2.15, based on 1,239 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. AECI's current Debt-to-EBITDA of 2.37 is 10.2% 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 AECI. For the Chemicals industry, the median Debt-to-EBITDA is 2.15 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AECI's current Debt-to-EBITDA is 2.37, which is 20% above median its own 10-year median of 1.98. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AECI stock overvalued right now?
Based on GuruFocus' analysis, AECI (JSE:AFE) is currently considered Significantly Overvalued. The stock's GF Value™ is R91.26, compared to a current price of R123.06 — trading 34.8% above its estimated fair value. The current Debt-to-EBITDA is 2.37, which is 20% above median its 10-year median of 1.98 and 10.2% above the Chemicals industry median of 2.15. AECI's overall GF Score™ is 70/100 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 AECI (JSE:AFE), the current Debt-to-EBITDA is 2.37 as of Dec. 2025. 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 AECI (JSE:AFE) Overvalued in 2026?
Based on GuruFocus' analysis, AECI stock appears to be overvalued.
The current stock price of R123.06 is trading 34.8% above its estimated GF Value™ of R91.26.
GuruFocus considers AECI to be Significantly Overvalued.
Key valuation signals for JSE:AFE:
Debt-to-EBITDA: 2.37 (20% above median its 10-year median of 1.98)
GF Value™: R91.26 vs. price of R123.06 (34.8% above fair value)
Industry Position: 10.2% above the Chemicals median (#688 of 1239)
No single metric tells the full story. See the JSE:AFE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
AECI Ltd is a diversified group operating predominantly in the chemicals industry. The company performs its various business activities in the following reportable segments: AECI Mining, AECI Chemicals, AECI Managed Businesses, and AECI Property Services and Corporate. A majority of its revenue is generated from the AECI Mining segment, which provides a mine-to-mineral solution for the international mining sector. The offerings under this segment include commercial explosives, initiating systems, blasting services, and surfactants for explosives manufacture across the value chain to chemicals for ore beneficiation and tailings treatment. Geographically, the group generates a majority of its revenue from Africa, followed by Asia-Pacific, Europe, North America, and Latin America.
70GF Score
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