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.
Free StyleTSE:528A 9 Debt-to-EBITDA is 7.75 as of Sep. 2025, which is 41% above its 10-year median of 5.49. GuruFocus rates TSE:528A with a GF Score™ of 9/100. The stock has 3 warning signs investors should review.
Debt-to-EBITDA measures a company's ability to pay off its debt.
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 Free Style's Debt-to-EBITDA or its related term are showing as below:
TSE:528A'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 4.89 Med: 5.49 Max: 15.5
Current: 15.5
During the past 2 years, the highest Debt-to-EBITDA Ratio of Free Style was 15.50. The lowest was 4.89. And the median was 5.49.
TSE:528A's Debt-to-EBITDA is not ranked
in the Software industry.
Industry Median: 0.98
vs TSE:528A: 15.50
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.
Free Style Debt-to-EBITDA Related Terms
Free Style Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Free Style'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.
Free Style Debt-to-EBITDA Chart
Free Style Annual Data
Trend
Mar24
Mar25
Debt-to-EBITDA
6.08
4.89
Free Style Semi-Annual Data
Mar24
Mar25
Sep25
Debt-to-EBITDA
N/A
N/A
7.75
TSE:528A vs UBER, CRM, SHOP: Debt-to-EBITDA Comparison
For the Software - Application subindustry, Free Style'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.
Free Style Debt-to-EBITDA vs Software Industry
For the Software industry and Technology sector, Free Style's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Free Style'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 (Sep. 2025) EBITDA data.
Free Style (TSE:528A) has a Debt-to-EBITDA of 7.75 as of Sep. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Free Style. This is 41% above median its historical median of 5.49. Over the past decade, Free Style's Debt-to-EBITDA has ranged from 4.89 to 15.50.
Is Free Style's Debt-to-EBITDA too high?
Free Style's current Debt-to-EBITDA of 7.75 is 41% above median its 10-year median of 5.49. Over the past 10 years, this metric has ranged from a low of 4.89 to a high of 15.50. The Software industry median Debt-to-EBITDA is 0.98. Free Style's value of 7.75 is 690.8% above this industry median. Overall, Free Style has a GF Score™ of 9/100, reflecting its overall financial health beyond just this single metric.
How does Free Style's Debt-to-EBITDA compare to UBER and CRM?
Free Style's Debt-to-EBITDA of 7.75 can be compared against companies in the Software industry. The industry median Debt-to-EBITDA is 0.98. Free Style's value of 7.75 is 690.8% above this benchmark. Historically, Free Style's own Debt-to-EBITDA has ranged from 4.89 to 15.50 over the past decade. While the company's 10-year median is 5.49 vs. the industry median of 0.98, Free Style 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 Software company?
The median Debt-to-EBITDA among Software companies is 0.98, based on 1,723 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. Free Style's current Debt-to-EBITDA of 7.75 is 690.8% 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 Free Style. For the Software industry, the median Debt-to-EBITDA is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Free Style's current Debt-to-EBITDA is 7.75, which is 41% above median its own 10-year median of 5.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Free Style stock overvalued right now?
Free Style (TSE:528A) has a current Debt-to-EBITDA of 7.75. The current Debt-to-EBITDA is 7.75, which is 41% above median its 10-year median of 5.49 and 690.8% above the Software industry median of 0.98. Free Style's overall GF Score™ is 9/100 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 Free Style (TSE:528A), the current Debt-to-EBITDA is 7.75 as of Sep. 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.
Free Style Inc is engaged in Software Development and Staffing Services. The IT Solutions Division provides a variety of services such as network infrastructure development, operation, maintenance, server and system construction, and program development. The company is also engaged in the Contract Development Business and Game Development Business.
9GF Score
Get the complete analysis for TSE:528A
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
TSE:528A has been successfully added to your 
