Qrf (LTS:0QIP) Debt-to-EBITDA : 3.67 (As of Dec. 2025) — 66% Below Median

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Director of Data and Quant Analytics at GuruFocus
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LTS:0QIP Qrf LTS:0QIP
75 GF Score
Price €10.10
GF Value €10.37
Valuation Fairly Valued
! 6 Warning Signs
View Full Analysis

What is Qrf Debt-to-EBITDA?

Qrf LTS:0QIP 75 Debt-to-EBITDA is 3.67 as of Dec. 2025, which is 66% below its 10-year median of 10.88. GuruFocus rates LTS:0QIP with a GF Score™ of 75/100 and a GF Value™ of €10.37 (Fairly Valued). The stock has 6 warning signs investors should review. Among 578 REITs companies, Qrf ranks better than 58.65% on this metric.

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

Qrf's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2025 was €32.51 Mil. Qrf's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Dec. 2025 was €90.33 Mil. Qrf's annualized EBITDA for the quarter that ended in Dec. 2025 was €33.48 Mil. Qrf's annualized Debt-to-EBITDA for the quarter that ended in Dec. 2025 was 3.67.

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

LTS:0QIP' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -25.96   Med: 10.88   Max: 50.84
Current: 5.6

During the past 13 years, the highest Debt-to-EBITDA Ratio of Qrf was 50.84. The lowest was -25.96. And the median was 10.88.

LTS:0QIP's Debt-to-EBITDA is ranked better than
58.65% of 578 companies
in the REITs industry
Industry Median: 6.51 vs LTS:0QIP: 5.60

Qrf  (LTS:0QIP) 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.


Qrf Debt-to-EBITDA Related Terms


Qrf Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Qrf'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.

Qrf Debt-to-EBITDA Chart

Qrf 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 36.65 9.71 28.85 6.13 5.61

Qrf Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 12.04 3.44 28.16 9.75 3.67

LTS:0QIP vs SPG, O, KIM: Debt-to-EBITDA Comparison

For the REIT - Retail subindustry, Qrf'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.


Qrf Debt-to-EBITDA vs REITs Industry

For the REITs industry and Real Estate sector, Qrf's Debt-to-EBITDA distribution charts can be found below:

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


LTS:0QIP
75GF Score
Qrf LTS:0QIP
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Qrf Debt-to-EBITDA Calculation

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

Qrf'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
=(32.514 + 90.333) / 21.899
=5.61

Qrf's annualized Debt-to-EBITDA for the quarter 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
=(32.514 + 90.333) / 33.476
=3.67

* 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.

Frequently Asked Questions Learn more about Debt-to-EBITDA →
What does a Debt-to-EBITDA of 3.67 mean?
Qrf (LTS:0QIP) has a Debt-to-EBITDA of 3.67 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 Qrf. This is 66% below median its historical median of 10.88. According to the industry distribution chart, Qrf ranks #239 out of 578 companies in the REITs industry, placing it in the top 41.3%.
Is Qrf's Debt-to-EBITDA too high?
Qrf's current Debt-to-EBITDA of 3.67 is 66% below median its 10-year median of 10.88. The REITs industry median Debt-to-EBITDA is 6.51. Qrf's value of 3.67 is 43.6% below this industry median. Based on the distribution chart, Qrf ranks #239 out of 578 companies in the REITs industry, which is above the industry midpoint. Overall, Qrf has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qrf's Debt-to-EBITDA compare to SPG and O?
According to the REITs industry distribution chart, Qrf ranks #239 out of 578 companies for Debt-to-EBITDA. This puts Qrf in the upper half of its industry. The industry median Debt-to-EBITDA is 6.51. Qrf's value of 3.67 is 43.6% below this benchmark. While the company's 10-year median is 10.88 vs. the industry median of 6.51, Qrf 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 REITs company?
The median Debt-to-EBITDA among REITs companies is 6.51, based on 578 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. Qrf's current Debt-to-EBITDA of 3.67 is 43.6% 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 Qrf. For the REITs industry, the median Debt-to-EBITDA is 6.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qrf's current Debt-to-EBITDA is 3.67, which is 66% below median its own 10-year median of 10.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qrf stock overvalued right now?
Based on GuruFocus' analysis, Qrf (LTS:0QIP) is currently considered Fairly Valued. The stock's GF Value™ is €10.37, compared to a current price of €10.10 — trading 2.6% below its estimated fair value. The current Debt-to-EBITDA is 3.67, which is 66% below median its 10-year median of 10.88 and 43.6% below the REITs industry median of 6.51. Qrf's overall GF Score™ is 75/100 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 Qrf (LTS:0QIP), the current Debt-to-EBITDA is 3.67 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 Qrf (LTS:0QIP) Overvalued in 2026?

Based on GuruFocus' analysis, Qrf stock appears to be undervalued. The current stock price of €10.10 is trading 2.6% below its estimated GF Value™ of €10.37. GuruFocus considers Qrf to be Fairly Valued.

Key valuation signals for LTS:0QIP:

  • Debt-to-EBITDA: 3.67 (66% below median its 10-year median of 10.88)
  • GF Value™: €10.37 vs. price of €10.10 (2.6% below fair value)
  • GF Score™: 75/100 with 6 warning signs
  • Industry Position: 43.6% below the REITs median (#239 of 578)

No single metric tells the full story. See the LTS:0QIP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Qrf Business Description

Industry Real EstateREITs
Other Exchanges QRF:Belgium
Address Veldstraat 88A Bus 401, Ghent, BEL, 9000
Qrf is a Belgian public regulated real estate company (RREC or BE-REIT) that invests in inner-city real estate in Belgium and the Netherlands. The company focuses on the acquisition, redevelopment, and leasing of commercial real estate focused on retail, leisure, and hospitality. Its segments include Belgium and the Netherlands, of which the majority of the revenue is derived from Belgium.
75GF Score

Get the complete analysis for LTS:0QIP

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

€10.10
Price
€10.37
GF Value