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.
NEL ASANLLSF 56 Debt-to-EBITDA is -0.41 as of Jun. 2026. GuruFocus rates NLLSF with a GF Score™ of 56/100 and a GF Value™ of $0.23 (Fairly Valued). The stock has 4 warning signs investors should review. Among 2,330 Industrial Products companies, NEL ASA ranks worse than 42918.41% 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 NEL ASA's Debt-to-EBITDA or its related term are showing as below:
NLLSF'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -8.33 Med: -0.49 Max: 0.09
Current: -0.91
During the past 13 years, the highest Debt-to-EBITDA Ratio of NEL ASA was 0.09. The lowest was -8.33. And the median was -0.49.
NLLSF's Debt-to-EBITDA is ranked worse than 100% of 2330
companies
in the Industrial Products industry
Industry Median: 1.7
vs NLLSF: -0.91
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.
NEL ASA Debt-to-EBITDA Related Terms
NEL ASA Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for NEL ASA'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.
For the Specialty Industrial Machinery subindustry, NEL ASA'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.
NEL ASA Debt-to-EBITDA vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, NEL ASA's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where NEL ASA'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 (Jun. 2026) EBITDA data.
NEL ASA (NLLSF) has a Debt-to-EBITDA of -0.41 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on NEL ASA. According to the industry distribution chart, NEL ASA ranks #999999 out of 2330 companies in the Industrial Products industry.
Is NEL ASA's Debt-to-EBITDA too high?
NEL ASA's current Debt-to-EBITDA is -0.41. Based on the distribution chart, NEL ASA ranks #999999 out of 2330 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, NEL ASA has a GF Score™ of 56/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does NEL ASA's Debt-to-EBITDA compare to GEV and ETN?
According to the Industrial Products industry distribution chart, NEL ASA ranks #999999 out of 2330 companies for Debt-to-EBITDA. This places NEL ASA in the lower half of its industry. The industry median Debt-to-EBITDA is 1.70. 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 Industrial Products company?
The median Debt-to-EBITDA among Industrial Products companies is 1.70, based on 2,330 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. 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 NEL ASA. For the Industrial Products industry, the median Debt-to-EBITDA is 1.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NEL ASA's current Debt-to-EBITDA is -0.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NEL ASA stock overvalued right now?
Based on GuruFocus' analysis, NEL ASA (NLLSF) is currently considered Fairly Valued. The stock's GF Value™ is $0.23, compared to a current price of $0.22 — trading 4.3% below its estimated fair value. The current Debt-to-EBITDA is -0.41. NEL ASA's overall GF Score™ is 56/100 with 4 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 NEL ASA (NLLSF), the current Debt-to-EBITDA is -0.41 as of Jun. 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 NEL ASA (NLLSF) Overvalued in 2026?
Based on GuruFocus' analysis, NEL ASA stock appears to be undervalued.
The current stock price of $0.22 is trading 4.3% below its estimated GF Value™ of $0.23.
GuruFocus considers NEL ASA to be Fairly Valued.
Key valuation signals for NLLSF:
Debt-to-EBITDA: -0.41
GF Value™: $0.23 vs. price of $0.22 (4.3% below fair value)
No single metric tells the full story. See the NLLSF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NEL ASA is a hydrogen company delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser is a supplier of hydrogen production equipment based on alkaline water electrolysis technology.
56GF Score
Get the complete analysis for NLLSF
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
NLLSF has been successfully added to your 
