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Zest SpAMIL:ZEST +0.39%23 Debt-to-EBITDA is 1,231.83 as of Dec. 2025, which is 492632% above its 10-year median of 0.25. GuruFocus rates MIL:ZEST with a GF Score™ of 23/100 and a GF Value™ of €0.14 (Fairly Valued). The stock has 5 warning signs investors should review. Among 384 Asset Management companies, Zest SpA ranks worse than 97.4% 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 Zest SpA's Debt-to-EBITDA or its related term are showing as below:
MIL:ZEST'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -12.9 Med: 0.25 Max: 42.97
Current: 42.97
During the past 13 years, the highest Debt-to-EBITDA Ratio of Zest SpA was 42.97. The lowest was -12.90. And the median was 0.25.
MIL:ZEST's Debt-to-EBITDA is ranked worse than 97.4% of 384
companies
in the Asset Management industry
Industry Median: 1.39
vs MIL:ZEST: 42.97
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.
Zest SpA Debt-to-EBITDA Related Terms
Zest SpA Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Zest SpA'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.
MIL:ZEST vs BLK, BX, KKR: Debt-to-EBITDA Comparison
For the Asset Management subindustry, Zest SpA'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.
Zest SpA Debt-to-EBITDA vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Zest SpA's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Zest SpA'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.
Zest SpA (MIL:ZEST) has a Debt-to-EBITDA of 1,231.83 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 Zest SpA. This is 492632% above median its historical median of 0.25. According to the industry distribution chart, Zest SpA ranks #374 out of 384 companies in the Asset Management industry, placing it in the top 97.4%.
Is Zest SpA's Debt-to-EBITDA too high?
Zest SpA's current Debt-to-EBITDA of 1,231.83 is 492632% above median its 10-year median of 0.25. The Asset Management industry median Debt-to-EBITDA is 1.39. Zest SpA's value of 1,231.83 is 88520.9% above this industry median. Based on the distribution chart, Zest SpA ranks #374 out of 384 companies in the Asset Management industry, which is in the bottom quartile relative to peers. Overall, Zest SpA has a GF Score™ of 23/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Zest SpA's Debt-to-EBITDA compare to BLK and BX?
According to the Asset Management industry distribution chart, Zest SpA ranks #374 out of 384 companies for Debt-to-EBITDA. This places Zest SpA in the lower half of its industry. The industry median Debt-to-EBITDA is 1.39. Zest SpA's value of 1,231.83 is 88520.9% above this benchmark. While the company's 10-year median is 0.25 vs. the industry median of 1.39, Zest SpA 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 an Asset Management company?
The median Debt-to-EBITDA among Asset Management companies is 1.39, based on 384 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. Zest SpA's current Debt-to-EBITDA of 1,231.83 is 88520.9% 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 Zest SpA. For the Asset Management industry, the median Debt-to-EBITDA is 1.39 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zest SpA's current Debt-to-EBITDA is 1,231.83, which is 492632% above median its own 10-year median of 0.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zest SpA stock overvalued right now?
Based on GuruFocus' analysis, Zest SpA (MIL:ZEST) is currently considered Fairly Valued. The stock's GF Value™ is €0.14, compared to a current price of €0.13 — trading 8.9% below its estimated fair value. The current Debt-to-EBITDA is 1,231.83, which is 492632% above median its 10-year median of 0.25 and 88520.9% above the Asset Management industry median of 1.39. Zest SpA's overall GF Score™ is 23/100 with 5 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 Zest SpA (MIL:ZEST), the current Debt-to-EBITDA is 1,231.83 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 Zest SpA (MIL:ZEST) Overvalued in 2026?
Based on GuruFocus' analysis, Zest SpA stock appears to be undervalued.
The current stock price of €0.13 is trading 8.9% below its estimated GF Value™ of €0.14.
GuruFocus considers Zest SpA to be Fairly Valued.
Key valuation signals for MIL:ZEST:
Debt-to-EBITDA: 1,231.83 (492632% above median its 10-year median of 0.25)
GF Value™: €0.14 vs. price of €0.13 (8.9% below fair value)
Industry Position: 88520.9% above the Asset Management median (#374 of 384)
No single metric tells the full story. See the MIL:ZEST stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zest SpA formerly LVenture Group SpA is a holding company. It operates in the Private Equity and Venture Capital and provides financial support for the development of StartUp, bringing also a network of relationships and high sectoral expertise.
23GF Score
Get the complete analysis for MIL:ZEST
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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