Baltic Sea Properties AS (OSL:BALT) Debt-to-EBITDA : 9.64 (As of Mar. 2026) — 18% 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:BALT Baltic Sea Properties AS OSL:BALT
72 GF Score
Price kr47.80
GF Value kr49.49
Valuation Fairly Valued
! 3 Warning Signs
View Full Analysis

What is Baltic Sea Properties AS Debt-to-EBITDA?

Baltic Sea Properties AS OSL:BALT +0.42% 72 Debt-to-EBITDA is 9.64 as of Mar. 2026, which is 18% above its 10-year median of 8.19. GuruFocus rates OSL:BALT with a GF Score™ of 72/100 and a GF Value™ of kr49.49 (Fairly Valued). The stock has 3 warning signs investors should review. Among 1,274 Real Estate companies, Baltic Sea Properties AS ranks worse than 61.93% on this metric.

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

Baltic Sea Properties AS's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was kr23.9 Mil. Baltic Sea Properties AS's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was kr726.7 Mil. Baltic Sea Properties AS's annualized EBITDA for the quarter that ended in Mar. 2026 was kr77.9 Mil. Baltic Sea Properties AS's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 was 9.64.

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 Baltic Sea Properties AS's Debt-to-EBITDA or its related term are showing as below:

OSL:BALT' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -42.01   Med: 8.19   Max: 20.98
Current: 7.69

During the past 12 years, the highest Debt-to-EBITDA Ratio of Baltic Sea Properties AS was 20.98. The lowest was -42.01. And the median was 8.19.

OSL:BALT's Debt-to-EBITDA is ranked worse than
61.93% of 1274 companies
in the Real Estate industry
Industry Median: 5.64 vs OSL:BALT: 7.69

Baltic Sea Properties AS  (OSL:BALT) 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.


Baltic Sea Properties AS Debt-to-EBITDA Related Terms


Baltic Sea Properties AS Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Baltic Sea Properties AS'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.

Baltic Sea Properties AS Debt-to-EBITDA Chart

Baltic Sea Properties AS 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 3.88 8.45 9.79 6.94 7.94

Baltic Sea Properties AS 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 8.77 7.92 11.31 5.26 9.64

OSL:BALT vs CBRE, BEKE, JLL: Debt-to-EBITDA Comparison

For the Real Estate Services subindustry, Baltic Sea Properties AS'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.


Baltic Sea Properties AS Debt-to-EBITDA vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Baltic Sea Properties AS's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Baltic Sea Properties AS's Debt-to-EBITDA falls into.


OSL:BALT
72GF Score
Baltic Sea Properties AS OSL:BALT
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Baltic Sea Properties AS Debt-to-EBITDA Calculation

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

Baltic Sea Properties AS'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
=(28.472 + 750.65) / 98.184
=7.94

Baltic Sea Properties AS'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
=(23.882 + 726.718) / 77.896
=9.64

* 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 9.64 mean?
Baltic Sea Properties AS (OSL:BALT) has a Debt-to-EBITDA of 9.64 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 Baltic Sea Properties AS. This is 18% above median its historical median of 8.19. According to the industry distribution chart, Baltic Sea Properties AS ranks #789 out of 1274 companies in the Real Estate industry, placing it in the top 61.9%.
Is Baltic Sea Properties AS's Debt-to-EBITDA too high?
Baltic Sea Properties AS's current Debt-to-EBITDA of 9.64 is 18% above median its 10-year median of 8.19. The Real Estate industry median Debt-to-EBITDA is 5.64. Baltic Sea Properties AS's value of 9.64 is 70.9% above this industry median. Based on the distribution chart, Baltic Sea Properties AS ranks #789 out of 1274 companies in the Real Estate industry, which is below the industry midpoint. Overall, Baltic Sea Properties AS has a GF Score™ of 72/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Baltic Sea Properties AS's Debt-to-EBITDA compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Baltic Sea Properties AS ranks #789 out of 1274 companies for Debt-to-EBITDA. This places Baltic Sea Properties AS in the lower half of its industry. The industry median Debt-to-EBITDA is 5.64. Baltic Sea Properties AS's value of 9.64 is 70.9% above this benchmark. While the company's 10-year median is 8.19 vs. the industry median of 5.64, Baltic Sea Properties AS 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 Real Estate company?
The median Debt-to-EBITDA among Real Estate companies is 5.64, based on 1,274 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. Baltic Sea Properties AS's current Debt-to-EBITDA of 9.64 is 70.9% 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 Baltic Sea Properties AS. For the Real Estate industry, the median Debt-to-EBITDA is 5.64 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Baltic Sea Properties AS's current Debt-to-EBITDA is 9.64, which is 18% above median its own 10-year median of 8.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Baltic Sea Properties AS stock overvalued right now?
Based on GuruFocus' analysis, Baltic Sea Properties AS (OSL:BALT) is currently considered Fairly Valued. The stock's GF Value™ is kr49.49, compared to a current price of kr47.80 — trading 3.4% below its estimated fair value. The current Debt-to-EBITDA is 9.64, which is 18% above median its 10-year median of 8.19 and 70.9% above the Real Estate industry median of 5.64. Baltic Sea Properties AS's overall GF Score™ is 72/100 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 Baltic Sea Properties AS (OSL:BALT), the current Debt-to-EBITDA is 9.64 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 Baltic Sea Properties AS (OSL:BALT) Overvalued in 2026?

Based on GuruFocus' analysis, Baltic Sea Properties AS stock appears to be undervalued. The current stock price of kr47.80 is trading 3.4% below its estimated GF Value™ of kr49.49. GuruFocus considers Baltic Sea Properties AS to be Fairly Valued.

Key valuation signals for OSL:BALT:

  • Debt-to-EBITDA: 9.64 (18% above median its 10-year median of 8.19)
  • GF Value™: kr49.49 vs. price of kr47.80 (3.4% below fair value)
  • GF Score™: 72/100 with 3 warning signs
  • Industry Position: 70.9% above the Real Estate median (#789 of 1274)

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


Baltic Sea Properties AS Business Description

Address Tollbugata 8a, Oslo, NOR, 0152
Baltic Sea Properties AS is a Norwegian based open-ended and fully integrated investment company. The company acquires, invests, develops, rents, and realizes commercial real estate properties focusing on logistics, industrial, and retail segments. The company's operations consist of the acquisition, development, and letting of investment properties in Lithuania and some related businesses. It owns, develops, and manages commercial real estate in the Baltics.
72GF Score

Get the complete analysis for OSL:BALT

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

kr47.80
Price
kr49.49
GF Value