Hoymiles Power Electronics (SHSE:688032) Debt-to-EBITDA : -2.99 (As of Jun. 2026)

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.

SHSE:688032 Hoymiles Power Electronics Inc SHSE:688032
76 GF Score
Price ¥69.60
GF Value ¥185.22
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Hoymiles Power Electronics Debt-to-EBITDA?

Hoymiles Power Electronics SHSE:688032 -0.61% 76 Debt-to-EBITDA is -2.99 as of Jun. 2026. GuruFocus rates SHSE:688032 with a GF Score™ of 76/100 and a GF Value™ of ¥185.22 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 2,310 Industrial Products companies, Hoymiles Power Electronics ranks worse than 43290% on this metric.

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

Hoymiles Power Electronics's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was ¥1,119 Mil. Hoymiles Power Electronics's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Jun. 2026 was ¥449 Mil. Hoymiles Power Electronics's annualized EBITDA for the quarter that ended in Jun. 2026 was ¥-525 Mil. Hoymiles Power Electronics's annualized Debt-to-EBITDA for the quarter that ended in Jun. 2026 was -2.98.

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 Hoymiles Power Electronics's Debt-to-EBITDA or its related term are showing as below:

SHSE:688032' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -10.42   Med: 0.18   Max: 3.01
Current: -3.63

During the past 9 years, the highest Debt-to-EBITDA Ratio of Hoymiles Power Electronics was 3.01. The lowest was -10.42. And the median was 0.18.

SHSE:688032's Debt-to-EBITDA is ranked worse than
100% of 2310 companies
in the Industrial Products industry
Industry Median: 1.69 vs SHSE:688032: -3.63

Hoymiles Power Electronics  (SHSE:688032) 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.


Hoymiles Power Electronics Debt-to-EBITDA Related Terms


Hoymiles Power Electronics Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Hoymiles Power Electronics'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.

Hoymiles Power Electronics Debt-to-EBITDA Chart

Hoymiles Power Electronics Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Debt-to-EBITDA
Get a 7-Day Free Trial Premium Member Only 0.18 0.02 0.12 1.05 -9.19

Hoymiles Power Electronics Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
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 19.62 -2.52 -2.68 -3.73 -2.99

SHSE:688032 vs VRT, BE: Debt-to-EBITDA Comparison

For the Electrical Equipment & Parts subindustry, Hoymiles Power Electronics'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.


Hoymiles Power Electronics Debt-to-EBITDA vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, Hoymiles Power Electronics's Debt-to-EBITDA distribution charts can be found below:

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


SHSE:688032
76GF Score
Hoymiles Power Electronics Inc SHSE:688032
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Hoymiles Power Electronics Debt-to-EBITDA Calculation

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

Hoymiles Power Electronics'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
=(664.255 + 486.045) / -125.144
=-9.19

Hoymiles Power Electronics's annualized Debt-to-EBITDA for the quarter that ended in Jun. 2026 is calculated as

Debt-to-EBITDA=Total Debt / EBITDA
=(Short-Term Debt & Capital Lease Obligation + Long-Term Debt & Capital Lease Obligation) / EBITDA
=(1118.714 + 448.58) / -525.112
=-2.98

* 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.

Frequently Asked Questions Learn more about Debt-to-EBITDA →
What does a Debt-to-EBITDA of -2.99 mean?
Hoymiles Power Electronics (SHSE:688032) has a Debt-to-EBITDA of -2.99 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 Hoymiles Power Electronics. According to the industry distribution chart, Hoymiles Power Electronics ranks #999999 out of 2310 companies in the Industrial Products industry.
Is Hoymiles Power Electronics' Debt-to-EBITDA too high?
Hoymiles Power Electronics' current Debt-to-EBITDA is -2.99. Based on the distribution chart, Hoymiles Power Electronics ranks #999999 out of 2310 companies in the Industrial Products industry, which is in the bottom quartile relative to peers. Overall, Hoymiles Power Electronics has a GF Score™ of 76/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Hoymiles Power Electronics' Debt-to-EBITDA compare to VRT and BE?
According to the Industrial Products industry distribution chart, Hoymiles Power Electronics ranks #999999 out of 2310 companies for Debt-to-EBITDA. This places Hoymiles Power Electronics in the lower half of its industry. The industry median Debt-to-EBITDA is 1.69. 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 1.69, based on 2,310 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 Hoymiles Power Electronics. For the Industrial Products industry, the median Debt-to-EBITDA is 1.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hoymiles Power Electronics's current Debt-to-EBITDA is -2.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hoymiles Power Electronics stock overvalued right now?
Based on GuruFocus' analysis, Hoymiles Power Electronics (SHSE:688032) is currently considered Possible Value Trap. The stock's GF Value™ is ¥185.22, compared to a current price of ¥69.60 — trading 62.4% below its estimated fair value. The current Debt-to-EBITDA is -2.99. Hoymiles Power Electronics' overall GF Score™ is 76/100 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 Hoymiles Power Electronics (SHSE:688032), the current Debt-to-EBITDA is -2.99 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 Hoymiles Power Electronics (SHSE:688032) Overvalued in 2026?

Based on GuruFocus' analysis, Hoymiles Power Electronics stock appears to be undervalued. The current stock price of ¥69.60 is trading 62.4% below its estimated GF Value™ of ¥185.22. GuruFocus considers Hoymiles Power Electronics to be Possible Value Trap.

Key valuation signals for SHSE:688032:

  • Debt-to-EBITDA: -2.99
  • GF Value™: ¥185.22 vs. price of ¥69.60 (62.4% below fair value)
  • GF Score™: 76/100 with 6 warning signs

No single metric tells the full story. See the SHSE:688032 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Hoymiles Power Electronics Business Description

Address No. 18 Kangjing Road, 3rd Floor, Building 11, Gongshu District, Zhejiang Province, Hangzhou, CHN, 310015
Hoymiles Power Electronics Inc is engaged in the research and development, manufacturing, and sales of photovoltaic inverters and other power conversion equipment and electrical complete sets of equipment and related products.
76GF Score

Get the complete analysis for SHSE:688032

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

¥69.60
Price
¥185.22
GF Value