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.
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 Nine Dragons Paper (Holdings)'s Debt-to-EBITDA or its related term are showing as below:
STU:N3Y'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.61 Med: 5.06 Max: 26.14
Current: 12.81
During the past 13 years, the highest Debt-to-EBITDA Ratio of Nine Dragons Paper (Holdings) was 26.14. The lowest was 2.61. And the median was 5.06.
STU:N3Y's Debt-to-EBITDA is ranked worse than 85.1% of 208
companies
in the Forest Products industry
Industry Median: 3.205
vs STU:N3Y: 12.81
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.
Nine Dragons Paper (Holdings) Debt-to-EBITDA Related Terms
Nine Dragons Paper (Holdings) Debt-to-EBITDA Historical Data
* 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.
Nine Dragons Paper (Holdings) Debt-to-EBITDA Chart
Nine Dragons Paper (Holdings) Debt-to-EBITDA Competitor Comparison
For the Paper & Paper Products subindustry, Nine Dragons Paper (Holdings)'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.
Nine Dragons Paper (Holdings) Debt-to-EBITDA vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Nine Dragons Paper (Holdings)'s Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Nine Dragons Paper (Holdings)'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.
Nine Dragons Paper (Holdings) (STU:N3Y) has a Debt-to-EBITDA of 8.46 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 Nine Dragons Paper (Holdings). This is 67% above median its historical median of 5.06. Over the past decade, Nine Dragons Paper (Holdings)'s Debt-to-EBITDA has ranged from 2.61 to 26.14. According to the industry distribution chart, Nine Dragons Paper (Holdings) ranks #177 out of 208 companies in the Forest Products industry, placing it in the top 85.1%.
Is Nine Dragons Paper (Holdings)'s Debt-to-EBITDA too high?
Nine Dragons Paper (Holdings)'s current Debt-to-EBITDA of 8.46 is 67% above median its 10-year median of 5.06. Over the past 10 years, this metric has ranged from a low of 2.61 to a high of 26.14. The Forest Products industry median Debt-to-EBITDA is 3.21. Nine Dragons Paper (Holdings)'s value of 8.46 is 164% above this industry median. Based on the distribution chart, Nine Dragons Paper (Holdings) ranks #177 out of 208 companies in the Forest Products industry, which is in the bottom quartile relative to peers. Overall, Nine Dragons Paper (Holdings) has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does Nine Dragons Paper (Holdings)'s Debt-to-EBITDA compare to competitors?
According to the Forest Products industry distribution chart, Nine Dragons Paper (Holdings) ranks #177 out of 208 companies for Debt-to-EBITDA. This places Nine Dragons Paper (Holdings) in the lower half of its industry. The industry median Debt-to-EBITDA is 3.21. Nine Dragons Paper (Holdings)'s value of 8.46 is 164% above this benchmark. Historically, Nine Dragons Paper (Holdings)'s own Debt-to-EBITDA has ranged from 2.61 to 26.14 over the past decade. While the company's 10-year median is 5.06 vs. the industry median of 3.21, Nine Dragons Paper (Holdings) 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 Forest Products company?
The median Debt-to-EBITDA among Forest Products companies is 3.21, based on 208 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. Nine Dragons Paper (Holdings)'s current Debt-to-EBITDA of 8.46 is 164% 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 Nine Dragons Paper (Holdings). For the Forest Products industry, the median Debt-to-EBITDA is 3.21 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nine Dragons Paper (Holdings)'s current Debt-to-EBITDA is 8.46, which is 67% above median its own 10-year median of 5.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nine Dragons Paper (Holdings) stock overvalued right now?
Nine Dragons Paper (Holdings) (STU:N3Y) has a current Debt-to-EBITDA of 8.46. The stock's GF Value™ is €0.56, compared to a current price of €0.68 — trading 20.6% above its estimated fair value. The current Debt-to-EBITDA is 8.46, which is 67% above median its 10-year median of 5.06 and 164% above the Forest Products industry median of 3.21. Nine Dragons Paper (Holdings)'s overall GF Score™ is 81/100 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 Nine Dragons Paper (Holdings) (STU:N3Y), the current Debt-to-EBITDA is 8.46 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 Nine Dragons Paper (Holdings) (STU:N3Y) Overvalued in 2026?
Based on GuruFocus' analysis, Nine Dragons Paper (Holdings) stock appears to be overvalued.
The current stock price of €0.68 is trading 20.6% above its estimated GF Value™ of €0.56.
Key valuation signals for STU:N3Y:
Debt-to-EBITDA: 8.46 (67% above median its 10-year median of 5.06)
GF Value™: €0.56 vs. price of €0.68 (20.6% above fair value)
Industry Position: 164% above the Forest Products median (#177 of 208)
No single metric tells the full story. See the STU:N3Y stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Nine Dragons Paper (Holdings) Ltd is one of China's largest paper and pulp manufacturers, producing packaging paper, printing and writing paper, and specialty paper grades. Its core products include kraftlinerboard, testlinerboard, white top linerboard, corrugating medium, coated duplex board, and bleached folding boxboard, used mainly in packaging for consumer goods, electronics, food and beverage, and industrial customers. The company also produces high-value specialty papers such as gypsum board cover paper and high-end virgin paper. It operates large integrated pulp and paper production bases in China, including Guangdong, Jiangsu, Tianjin, Chongqing, Fujian, Hebei and Sichuan, as well as mills in Vietnam and Malaysia, giving it a broad domestic and export footprint. Revenue comes primarily from volume sales of paper products, supported by pulp production, recycled fiber sourcing, and downstream converting operations. Nine Dragons also generates some revenue from its own power and steam operations.
81GF Score
Get the complete analysis for STU:N3Y
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
STU:N3Y has been successfully added to your 
