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.
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.
Spar GroupJSE:SPP +2.55%50 Debt-to-EBITDA is 5.33 as of Mar. 2026, which is 39% above its 10-year median of 3.84. GuruFocus rates JSE:SPP with a GF Score™ of 50/100 and a GF Value™ of R107.98 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 255 Retail - Defensive companies, Spar Group ranks worse than 85.88% 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 Spar Group's Debt-to-EBITDA or its related term are showing as below:
JSE:SPP'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 1.6 Med: 3.84 Max: 5.56
Current: 5.56
During the past 13 years, the highest Debt-to-EBITDA Ratio of Spar Group was 5.56. The lowest was 1.60. And the median was 3.84.
JSE:SPP's Debt-to-EBITDA is ranked worse than 85.88% of 255
companies
in the Retail - Defensive industry
Industry Median: 2.22
vs JSE:SPP: 5.56
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.
Spar Group Debt-to-EBITDA Related Terms
Spar Group Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Spar 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.
JSE:SPP vs SYY, USFD, PFGC: Debt-to-EBITDA Comparison
For the Food Distribution subindustry, Spar 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.
Spar Group Debt-to-EBITDA vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Spar Group's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Spar 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 two times the quarterly (Mar. 2026) EBITDA data.
Spar Group (JSE:SPP) has a Debt-to-EBITDA of 5.33 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 Spar Group. This is 39% above median its historical median of 3.84. Over the past decade, Spar Group's Debt-to-EBITDA has ranged from 1.60 to 5.56. According to the industry distribution chart, Spar Group ranks #219 out of 255 companies in the Retail - Defensive industry, placing it in the top 85.9%.
Is Spar Group's Debt-to-EBITDA too high?
Spar Group's current Debt-to-EBITDA of 5.33 is 39% above median its 10-year median of 3.84. Over the past 10 years, this metric has ranged from a low of 1.60 to a high of 5.56. The Retail - Defensive industry median Debt-to-EBITDA is 2.22. Spar Group's value of 5.33 is 140.1% above this industry median. Based on the distribution chart, Spar Group ranks #219 out of 255 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Spar Group has a GF Score™ of 50/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spar Group's Debt-to-EBITDA compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Spar Group ranks #219 out of 255 companies for Debt-to-EBITDA. This places Spar Group in the lower half of its industry. The industry median Debt-to-EBITDA is 2.22. Spar Group's value of 5.33 is 140.1% above this benchmark. Historically, Spar Group's own Debt-to-EBITDA has ranged from 1.60 to 5.56 over the past decade. While the company's 10-year median is 3.84 vs. the industry median of 2.22, Spar Group 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 Retail - Defensive company?
The median Debt-to-EBITDA among Retail - Defensive companies is 2.22, based on 255 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. Spar Group's current Debt-to-EBITDA of 5.33 is 140.1% 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 Spar Group. For the Retail - Defensive industry, the median Debt-to-EBITDA is 2.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current Debt-to-EBITDA is 5.33, which is 39% above median its own 10-year median of 3.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spar Group stock overvalued right now?
Based on GuruFocus' analysis, Spar Group (JSE:SPP) is currently considered Significantly Undervalued. The stock's GF Value™ is R107.98, compared to a current price of R49.11 — trading 54.5% below its estimated fair value. The current Debt-to-EBITDA is 5.33, which is 39% above median its 10-year median of 3.84 and 140.1% above the Retail - Defensive industry median of 2.22. Spar Group's overall GF Score™ is 50/100 with 3 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 Spar Group (JSE:SPP), the current Debt-to-EBITDA is 5.33 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 Spar Group (JSE:SPP) Overvalued in 2026?
Based on GuruFocus' analysis, Spar Group stock appears to be undervalued.
The current stock price of R49.11 is trading 54.5% below its estimated GF Value™ of R107.98.
GuruFocus considers Spar Group to be Significantly Undervalued.
Key valuation signals for JSE:SPP:
Debt-to-EBITDA: 5.33 (39% above median its 10-year median of 3.84)
GF Value™: R107.98 vs. price of R49.11 (54.5% below fair value)
Industry Position: 140.1% above the Retail - Defensive median (#219 of 255)
No single metric tells the full story. See the JSE:SPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spar Group Ltd operates as a wholesaler and distributor of goods and services to SPAR grocery stores and multiple other branded group retail outlets across multiple regions. It supplies fresh produce and merchandise to a network of independent retailers who operate under its brands like TOPS at SPAR, Build it, SPAR Health, and Encore. The company's revenue mainly comprise the revenue from the sale of merchandise, marketing and promotional activities as well as franchise fees. Geographically, it has a presence in Southern Africa, Ireland and South West England, Switzerland, Poland and Sri Lanka, with the majority of revenue generated from South Africa.
50GF Score
Get the complete analysis for JSE:SPP
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
JSE:SPP has been successfully added to your 
