Airport Facilities Co (TSE:8864) Debt-to-EBITDA : 1.02 (As of Mar. 2026) — 73% Below 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.

TSE:8864 Airport Facilities Co Ltd TSE:8864
76 GF Score
Price 円980.00
GF Value 円869.39
Valuation Modestly Overvalued
! 2 Warning Signs
View Full Analysis

What is Airport Facilities Co Debt-to-EBITDA?

Airport Facilities Co TSE:8864 +0.10% 76 Debt-to-EBITDA is 1.02 as of Mar. 2026, which is 73% below its 10-year median of 3.82. GuruFocus rates TSE:8864 with a GF Score™ of 76/100 and a GF Value™ of 円869.39 (Modestly Overvalued). The stock has 2 warning signs investors should review. Among 1,272 Real Estate companies, Airport Facilities Co ranks better than 71.46% on this metric.

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

Airport Facilities Co's Short-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was 円4,072 Mil. Airport Facilities Co's Long-Term Debt & Capital Lease Obligation for the quarter that ended in Mar. 2026 was 円23,524 Mil. Airport Facilities Co's annualized EBITDA for the quarter that ended in Mar. 2026 was 円26,964 Mil. Airport Facilities Co's annualized Debt-to-EBITDA for the quarter that ended in Mar. 2026 was 1.02.

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 Airport Facilities Co's Debt-to-EBITDA or its related term are showing as below:

TSE:8864' s Debt-to-EBITDA Range Over the Past 10 Years
Min: 2.54   Med: 3.82   Max: 8.72
Current: 2.54

During the past 13 years, the highest Debt-to-EBITDA Ratio of Airport Facilities Co was 8.72. The lowest was 2.54. And the median was 3.82.

TSE:8864's Debt-to-EBITDA is ranked better than
71.46% of 1272 companies
in the Real Estate industry
Industry Median: 5.495 vs TSE:8864: 2.54

Airport Facilities Co  (TSE:8864) 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.


Airport Facilities Co Debt-to-EBITDA Related Terms


Airport Facilities Co Debt-to-EBITDA Historical Data

* Premium members only.

The historical data trend for Airport Facilities Co'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.

Airport Facilities Co Debt-to-EBITDA Chart

Airport Facilities Co Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Debt-to-EBITDA
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5.01 3.75 3.89 3.16 2.72

Airport Facilities Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 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 2.58 4.11 -13.91 1.02 4.06

TSE:8864 vs CBRE, BEKE, JLL: Debt-to-EBITDA Comparison

For the Real Estate Services subindustry, Airport Facilities Co'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.


Airport Facilities Co Debt-to-EBITDA vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Airport Facilities Co's Debt-to-EBITDA distribution charts can be found below:

* The bar in red indicates where Airport Facilities Co's Debt-to-EBITDA falls into.


TSE:8864
76GF Score
Airport Facilities Co Ltd TSE:8864
Debt-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Airport Facilities Co Debt-to-EBITDA Calculation

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

Airport Facilities Co's Debt-to-EBITDA for the fiscal year 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
=(4072 + 23524) / 10132
=2.72

Airport Facilities Co'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
=(4072 + 23524) / 26964
=1.02

* 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 1.02 mean?
Airport Facilities Co (TSE:8864) has a Debt-to-EBITDA of 1.02 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 Airport Facilities Co. This is 73% below median its historical median of 3.82. Over the past decade, Airport Facilities Co's Debt-to-EBITDA has ranged from 2.54 to 8.72. According to the industry distribution chart, Airport Facilities Co ranks #363 out of 1272 companies in the Real Estate industry, placing it in the top 28.5%.
Is Airport Facilities Co's Debt-to-EBITDA too high?
Airport Facilities Co's current Debt-to-EBITDA of 1.02 is 73% below median its 10-year median of 3.82. Over the past 10 years, this metric has ranged from a low of 2.54 to a high of 8.72. The Real Estate industry median Debt-to-EBITDA is 5.50. Airport Facilities Co's value of 1.02 is 81.4% below this industry median. Based on the distribution chart, Airport Facilities Co ranks #363 out of 1272 companies in the Real Estate industry, which is above the industry midpoint. Overall, Airport Facilities Co has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Airport Facilities Co's Debt-to-EBITDA compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Airport Facilities Co ranks #363 out of 1272 companies for Debt-to-EBITDA. This puts Airport Facilities Co in the upper half of its industry. The industry median Debt-to-EBITDA is 5.50. Airport Facilities Co's value of 1.02 is 81.4% below this benchmark. Historically, Airport Facilities Co's own Debt-to-EBITDA has ranged from 2.54 to 8.72 over the past decade. While the company's 10-year median is 3.82 vs. the industry median of 5.50, Airport Facilities Co has consistently been below 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 5.50, based on 1,272 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. Airport Facilities Co's current Debt-to-EBITDA of 1.02 is 81.4% below 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 Airport Facilities Co. For the Real Estate industry, the median Debt-to-EBITDA is 5.50 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Airport Facilities Co's current Debt-to-EBITDA is 1.02, which is 73% below median its own 10-year median of 3.82. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Airport Facilities Co stock overvalued right now?
Based on GuruFocus' analysis, Airport Facilities Co (TSE:8864) is currently considered Modestly Overvalued. The stock's GF Value™ is 円869.39, compared to a current price of 円980.00 — trading 12.7% above its estimated fair value. The current Debt-to-EBITDA is 1.02, which is 73% below median its 10-year median of 3.82 and 81.4% below the Real Estate industry median of 5.50. Airport Facilities Co's overall GF Score™ is 76/100 with 2 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 Airport Facilities Co (TSE:8864), the current Debt-to-EBITDA is 1.02 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 Airport Facilities Co (TSE:8864) Overvalued in 2026?

Based on GuruFocus' analysis, Airport Facilities Co stock appears to be overvalued. The current stock price of 円980.00 is trading 12.7% above its estimated GF Value™ of 円869.39. GuruFocus considers Airport Facilities Co to be Modestly Overvalued.

Key valuation signals for TSE:8864:

  • Debt-to-EBITDA: 1.02 (73% below median its 10-year median of 3.82)
  • GF Value™: 円869.39 vs. price of 円980.00 (12.7% above fair value)
  • GF Score™: 76/100 with 2 warning signs
  • Industry Position: 81.4% below the Real Estate median (#363 of 1272)

No single metric tells the full story. See the TSE:8864 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Airport Facilities Co Business Description

Address 1-6-5 Haneda Airport, Ota-ku, 6-7F, Sogo Building No. 5, Tokyo, JPN, 144-0041
Airport Facilities Co Ltd is engaged in real estate leasing, heat supply business, and water supply and drainage management businesses. The company generates the majority of its revenue from the Real Estate business.
76GF Score

Get the complete analysis for TSE:8864

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

円980.00
Price
円869.39
GF Value