Ratos AB (STU:RAZB) Debt-to-EBITDA : 3.28 (As of Mar. 2026) — Near 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.

STU:RAZB Ratos AB STU:RAZB
56 GF Score
Price €3.01
GF Value €2.14
! 3 Warning Signs
View Full Analysis

What is Ratos AB Debt-to-EBITDA?

Ratos AB STU:RAZB +0.07% 56 Debt-to-EBITDA is 3.28 as of Mar. 2026, which is 2% above its 10-year median of 3.22. GuruFocus rates STU:RAZB with a GF Score™ of 56/100 and a GF Value™ of €2.14. The stock has 3 warning signs investors should review. Among 1,406 Construction companies, Ratos AB ranks worse than 55.83% on this metric.

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

Ratos AB's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was €119 Mil. Ratos AB's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was €688 Mil. Ratos AB's annualized EBITDA for the quarter that ended in Mar. 2026 was €246 Mil. Ratos AB's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 was 3.28.

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 Ratos AB's Debt-to-EBITDA or its related term are showing as below:

STU:RAZB' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.01   Med: 3.22   Max: 4.76
Current: 2.64

During the past 13 years, the highest Debt-to-EBITDA Ratio of Ratos AB was 4.76. The lowest was 2.01. And the median was 3.22.

STU:RAZB's Debt-to-EBITDA is ranked worse than
55.83% of 1406 companies
in the Construction industry
Industry Median: 2.18 vs STU:RAZB: 2.64

Ratos AB  (STU:RAZB) 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.


Ratos AB Debt-to-EBITDA Related Terms


Ratos AB Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Ratos AB'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.

Ratos AB Debt-to-EBITDA Chart

Ratos AB 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 3.04 4.48 2.01 3.31 2.34

Ratos AB 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 3.06 2.04 1.72 5.98 3.28

STU:RAZB vs PWR, FIX, EME: Debt-to-EBITDA Comparison

For the Engineering & Construction subindustry, Ratos AB'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.


Ratos AB Debt-to-EBITDA vs Construction Industry

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

* The bar in red indicates where Ratos AB's Debt-to-EBITDA falls into.


STU:RAZB
56GF Score
Ratos AB STU:RAZB
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Ratos AB Debt-to-EBITDA Calculation

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

Ratos AB'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
=(83.806 + 643.429) / 310.228
=2.34

Ratos AB'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
=(118.927 + 688.216) / 246.208
=3.28

* 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 3.28 mean?
Ratos AB (STU:RAZB) has a Debt-to-EBITDA of 3.28 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 Ratos AB. This is near median its historical median of 3.22. Over the past decade, Ratos AB's Debt-to-EBITDA has ranged from 2.01 to 4.76. According to the industry distribution chart, Ratos AB ranks #785 out of 1406 companies in the Construction industry, placing it in the top 55.8%.
Is Ratos AB's Debt-to-EBITDA too high?
Ratos AB's current Debt-to-EBITDA of 3.28 is near median its 10-year median of 3.22. Over the past 10 years, this metric has ranged from a low of 2.01 to a high of 4.76. The Construction industry median Debt-to-EBITDA is 2.18. Ratos AB's value of 3.28 is 50.5% above this industry median. Based on the distribution chart, Ratos AB ranks #785 out of 1406 companies in the Construction industry, which is below the industry midpoint. Overall, Ratos AB has a GF Score™ of 56/100, reflecting its overall financial health beyond just this single metric.
How does Ratos AB's Debt-to-EBITDA compare to PWR and FIX?
According to the Construction industry distribution chart, Ratos AB ranks #785 out of 1406 companies for Debt-to-EBITDA. This places Ratos AB in the lower half of its industry. The industry median Debt-to-EBITDA is 2.18. Ratos AB's value of 3.28 is 50.5% above this benchmark. Historically, Ratos AB's own Debt-to-EBITDA has ranged from 2.01 to 4.76 over the past decade. While the company's 10-year median is 3.22 vs. the industry median of 2.18, Ratos AB 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 Construction company?
The median Debt-to-EBITDA among Construction companies is 2.18, based on 1,406 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. Ratos AB's current Debt-to-EBITDA of 3.28 is 50.5% 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 Ratos AB. For the Construction industry, the median Debt-to-EBITDA is 2.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ratos AB's current Debt-to-EBITDA is 3.28, which is near median its own 10-year median of 3.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ratos AB stock overvalued right now?
Ratos AB (STU:RAZB) has a current Debt-to-EBITDA of 3.28. The stock's GF Value™ is €2.14, compared to a current price of €3.01 — trading 40.7% above its estimated fair value. The current Debt-to-EBITDA is 3.28, which is near median its 10-year median of 3.22 and 50.5% above the Construction industry median of 2.18. Ratos AB's overall GF Score™ is 56/100 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 Ratos AB (STU:RAZB), the current Debt-to-EBITDA is 3.28 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 Ratos AB (STU:RAZB) Overvalued in 2026?

Based on GuruFocus' analysis, Ratos AB stock appears to be overvalued. The current stock price of €3.01 is trading 40.7% above its estimated GF Value™ of €2.14.

Key valuation signals for STU:RAZB:

  • Debt-to-EBITDA: 3.28 (near median its 10-year median of 3.22)
  • GF Value™: €2.14 vs. price of €3.01 (40.7% above fair value)
  • GF Score™: 56/100 with 3 warning signs
  • Industry Position: 50.5% above the Construction median (#785 of 1406)

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


Ratos AB Business Description

Address Sturegatan 10, Box 511, Stockholm, SWE, SE-114 11
Ratos AB is an investment company that owns and develops unlisted medium-and small-sized Nordic companies. The company focuses on technological and infrastructure solutions and comprises two business segment; Construction & Services and Consumer. Majority of the revenue is generated from its Construction & Services segment which predominantly includes maintenance of infrastructure within railway, road, energy solutions, and construction of new critical buildings such as hospitals, schools, police stations and governmental buildings in the Nordics. Geographically, the company generates majority of its revenue from Norway and rest from Sweden and other regions.
56GF Score

Get the complete analysis for STU:RAZB

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

€3.01
Price
€2.14
GF Value