AF Gruppen ASA (OSL:AFG) Debt-to-EBITDA : 0.79 (As of Mar. 2026) — 39% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

OSL:AFG AF Gruppen ASA OSL:AFG
48 GF Score
Price kr187.20
! 3 Warning Signs
View Full Analysis

What is AF Gruppen ASA Debt-to-EBITDA?

AF Gruppen ASA OSL:AFG -1.16% 48 Debt-to-EBITDA is 0.79 as of Mar. 2026, which is 39% above its 10-year median of 0.57. GuruFocus rates OSL:AFG with a GF Score™ of 48/100. The stock has 3 warning signs investors should review. Among 1,405 Construction companies, AF Gruppen ASA ranks better than 77.51% on this metric.

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

AF Gruppen ASA's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was kr329 Mil. AF Gruppen ASA's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was kr1,174 Mil. AF Gruppen ASA's annualized EBITDA for the quarter that ended in Mar. 2026 was kr1,912 Mil. AF Gruppen ASA's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 was 0.79.

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 AF Gruppen ASA's Debt-to-EBITDA or its related term are showing as below:

OSL:AFG' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.07   Med: 0.57   Max: 0.97
Current: 0.64

During the past 13 years, the highest Debt-to-EBITDA Ratio of AF Gruppen ASA was 0.97. The lowest was 0.07. And the median was 0.57.

OSL:AFG's Debt-to-EBITDA is ranked better than
77.51% of 1405 companies
in the Construction industry
Industry Median: 2.14 vs OSL:AFG: 0.64

AF Gruppen ASA  (OSL:AFG) 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.


AF Gruppen ASA Debt-to-EBITDA Related Terms


AF Gruppen ASA Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for AF Gruppen 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.

AF Gruppen ASA Debt-to-EBITDA Chart

AF Gruppen ASA 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 0.46 0.71 0.97 0.69 0.61

AF Gruppen ASA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 0.75 0.84 0.71 0.46 0.79

OSL:AFG vs PWR, FIX, EME: Debt-to-EBITDA Comparison

For the Engineering & Construction subindustry, AF Gruppen 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.


AF Gruppen ASA Debt-to-EBITDA vs Construction Industry

For the Construction industry and Industrials sector, AF Gruppen ASA's Debt-to-EBITDA distribution charts can be found below:

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


OSL:AFG
48GF Score
AF Gruppen ASA OSL:AFG
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

AF Gruppen ASA Debt-to-EBITDA Calculation

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

AF Gruppen ASA'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
=(367 + 1140) / 2489
=0.61

AF Gruppen ASA's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(329 + 1174) / 1912
=0.79

* 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 (Mar. 2026) EBITDA data.

Frequently Asked Questions Learn more about Debt-to-EBITDA →
What does a Debt-to-EBITDA of 0.79 mean?
AF Gruppen ASA (OSL:AFG) has a Debt-to-EBITDA of 0.79 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 AF Gruppen ASA. This is 39% above median its historical median of 0.57. Over the past decade, AF Gruppen ASA's Debt-to-EBITDA has ranged from 0.07 to 0.97. According to the industry distribution chart, AF Gruppen ASA ranks #316 out of 1405 companies in the Construction industry, placing it in the top 22.5%.
Is AF Gruppen ASA's Debt-to-EBITDA too high?
AF Gruppen ASA's current Debt-to-EBITDA of 0.79 is 39% above median its 10-year median of 0.57. Over the past 10 years, this metric has ranged from a low of 0.07 to a high of 0.97. The Construction industry median Debt-to-EBITDA is 2.14. AF Gruppen ASA's value of 0.79 is 63.1% below this industry median. Based on the distribution chart, AF Gruppen ASA ranks #316 out of 1405 companies in the Construction industry, which is in the top quartile — a strong position relative to peers. Overall, AF Gruppen ASA has a GF Score™ of 48/100, reflecting its overall financial health beyond just this single metric.
How does AF Gruppen ASA's Debt-to-EBITDA compare to PWR and FIX?
According to the Construction industry distribution chart, AF Gruppen ASA ranks #316 out of 1405 companies for Debt-to-EBITDA. This places AF Gruppen ASA in the top 23% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 2.14. AF Gruppen ASA's value of 0.79 is 63.1% below this benchmark. Historically, AF Gruppen ASA's own Debt-to-EBITDA has ranged from 0.07 to 0.97 over the past decade. While the company's 10-year median is 0.57 vs. the industry median of 2.14, AF Gruppen ASA 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 Construction company?
The median Debt-to-EBITDA among Construction companies is 2.14, based on 1,405 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. AF Gruppen ASA's current Debt-to-EBITDA of 0.79 is 63.1% 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 AF Gruppen ASA. For the Construction industry, the median Debt-to-EBITDA is 2.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. AF Gruppen ASA's current Debt-to-EBITDA is 0.79, which is 39% above median its own 10-year median of 0.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is AF Gruppen ASA stock overvalued right now?
AF Gruppen ASA (OSL:AFG) has a current Debt-to-EBITDA of 0.79. The current Debt-to-EBITDA is 0.79, which is 39% above median its 10-year median of 0.57 and 63.1% below the Construction industry median of 2.14. AF Gruppen ASA's overall GF Score™ is 48/100 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 AF Gruppen ASA (OSL:AFG), the current Debt-to-EBITDA is 0.79 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.

AF Gruppen ASA Business Description

Address Innspurten 15, P.O. box 6272, Oslo, NOR, 0603
AF Gruppen ASA A is one of Norway's contracting and industrial groups. The company provides services in areas of civil engineering and services geared toward environmental, building, and energy markets. The company conducts projects related to roads, railways, ports, power, and energy development. For buildings and property development, its services span the entire value chain, and resources are utilized for planning and execution. The majority of revenue comes from traditional building activities, including new projects and rehabilitation ventures. Environmental services revolve around demolition, removal, and environmental clean-up of buildings and industrial plants.
48GF Score

Get the complete analysis for OSL:AFG

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

kr187.20
Price