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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 Daiwa Office Investment's Debt-to-EBITDA or its related term are showing as below:
TSE:8976'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 10.74 Med: 11.88 Max: 14.6
Current: 11.22
During the past 13 years, the highest Debt-to-EBITDA Ratio of Daiwa Office Investment was 14.60. The lowest was 10.74. And the median was 11.88.
TSE:8976's Debt-to-EBITDA is ranked worse than 80.42% of 577
companies
in the REITs industry
Industry Median: 6.56
vs TSE:8976: 11.22
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.
Daiwa Office Investment Debt-to-EBITDA Related Terms
Daiwa Office Investment 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.
TSE:8976 vs BXP, ARE, VNO: Debt-to-EBITDA Comparison
For the REIT - Office subindustry, Daiwa Office Investment'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.
Daiwa Office Investment Debt-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, Daiwa Office Investment's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Daiwa Office Investment'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 (May. 2026) EBITDA data.
Daiwa Office Investment (TSE:8976) has a Debt-to-EBITDA of 10.89 as of May. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Daiwa Office Investment. This is near median its historical median of 11.88. Over the past decade, Daiwa Office Investment's Debt-to-EBITDA has ranged from 10.74 to 14.60. According to the industry distribution chart, Daiwa Office Investment ranks #464 out of 577 companies in the REITs industry, placing it in the top 80.4%.
Is Daiwa Office Investment's Debt-to-EBITDA too high?
Daiwa Office Investment's current Debt-to-EBITDA of 10.89 is near median its 10-year median of 11.88. Over the past 10 years, this metric has ranged from a low of 10.74 to a high of 14.60. The REITs industry median Debt-to-EBITDA is 6.56. Daiwa Office Investment's value of 10.89 is 66% above this industry median. Based on the distribution chart, Daiwa Office Investment ranks #464 out of 577 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Daiwa Office Investment has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Daiwa Office Investment's Debt-to-EBITDA compare to BXP and ARE?
According to the REITs industry distribution chart, Daiwa Office Investment ranks #464 out of 577 companies for Debt-to-EBITDA. This places Daiwa Office Investment in the lower half of its industry. The industry median Debt-to-EBITDA is 6.56. Daiwa Office Investment's value of 10.89 is 66% above this benchmark. Historically, Daiwa Office Investment's own Debt-to-EBITDA has ranged from 10.74 to 14.60 over the past decade. While the company's 10-year median is 11.88 vs. the industry median of 6.56, Daiwa Office Investment 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 REITs company?
The median Debt-to-EBITDA among REITs companies is 6.56, based on 577 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. Daiwa Office Investment's current Debt-to-EBITDA of 10.89 is 66% 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 Daiwa Office Investment. For the REITs industry, the median Debt-to-EBITDA is 6.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Daiwa Office Investment's current Debt-to-EBITDA is 10.89, which is near median its own 10-year median of 11.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Daiwa Office Investment stock overvalued right now?
Based on GuruFocus' analysis, Daiwa Office Investment (TSE:8976) is currently considered Modestly Undervalued. The stock's GF Value™ is 円362,489.19, compared to a current price of 円325,500.00 — trading 10.2% below its estimated fair value. The current Debt-to-EBITDA is 10.89, which is near median its 10-year median of 11.88 and 66% above the REITs industry median of 6.56. Daiwa Office Investment's overall GF Score™ is 65/100 with 4 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 Daiwa Office Investment (TSE:8976), the current Debt-to-EBITDA is 10.89 as of May. 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 Daiwa Office Investment (TSE:8976) Overvalued in 2026?
Based on GuruFocus' analysis, Daiwa Office Investment stock appears to be undervalued.
The current stock price of 円325,500.00 is trading 10.2% below its estimated GF Value™ of 円362,489.19.
GuruFocus considers Daiwa Office Investment to be Modestly Undervalued.
Key valuation signals for TSE:8976:
Debt-to-EBITDA: 10.89 (near median its 10-year median of 11.88)
GF Value™: 円362,489.19 vs. price of 円325,500.00 (10.2% below fair value)
Industry Position: 66% above the REITs median (#464 of 577)
No single metric tells the full story. See the TSE:8976 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Daiwa Office Investment Corp is a real estate investment trust focused on acquiring, managing, and leasing office properties located in the Five Central Wards of Tokyo. The vast majority of the company's real estate portfolio is composed of office buildings fairly evenly distributed between Tokyo's Five Central Wards in terms of total value. Daiwa derives nearly all of its income in the form of rental revenue from leasing its properties. The firm has a varied tenant base from a number of industries, including the entertainment, retail, insurance, and food and beverage companies.
65GF Score
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