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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 Aecon Group's Debt-to-EBITDA or its related term are showing as below:
TSX:ARE'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 0.83 Med: 3.47 Max: 8.67
Current: 4.33
During the past 13 years, the highest Debt-to-EBITDA Ratio of Aecon Group was 8.67. The lowest was 0.83. And the median was 3.47.
TSX:ARE's Debt-to-EBITDA is ranked worse than 69.9% of 1402
companies
in the Construction industry
Industry Median: 2.135
vs TSX:ARE: 4.33
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.
Aecon Group Debt-to-EBITDA Related Terms
Aecon Group Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Aecon Group'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.
TSX:ARE vs PWR, FIX, EME: Debt-to-EBITDA Comparison
For the Engineering & Construction subindustry, Aecon Group'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.
Aecon Group Debt-to-EBITDA vs Construction Industry
For the Construction industry and Industrials sector, Aecon Group's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Aecon Group'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 four times the quarterly (Jun. 2026) EBITDA data.
Aecon Group (TSX:ARE) has a Debt-to-EBITDA of -1.95 as of Jun. 2026. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Aecon Group. Over the past decade, Aecon Group's Debt-to-EBITDA has ranged from 0.83 to 8.67. According to the industry distribution chart, Aecon Group ranks #980 out of 1402 companies in the Construction industry, placing it in the top 69.9%.
Is Aecon Group's Debt-to-EBITDA too high?
Aecon Group's current Debt-to-EBITDA is -1.95. Over the past 10 years, this metric has ranged from a low of 0.83 to a high of 8.67. Based on the distribution chart, Aecon Group ranks #980 out of 1402 companies in the Construction industry, which is below the industry midpoint. Overall, Aecon Group has a GF Score™ of 70/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aecon Group's Debt-to-EBITDA compare to PWR and FIX?
According to the Construction industry distribution chart, Aecon Group ranks #980 out of 1402 companies for Debt-to-EBITDA. This places Aecon Group in the lower half of its industry. The industry median Debt-to-EBITDA is 2.14. Historically, Aecon Group's own Debt-to-EBITDA has ranged from 0.83 to 8.67 over the past decade. 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 2.14, based on 1,402 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. 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 Aecon Group. For the Construction industry, the median Debt-to-EBITDA is 2.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Aecon Group's current Debt-to-EBITDA is -1.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aecon Group stock overvalued right now?
Based on GuruFocus' analysis, Aecon Group (TSX:ARE) is currently considered Significantly Overvalued. The stock's GF Value™ is C$26.69, compared to a current price of C$47.99 — trading 79.8% above its estimated fair value. The current Debt-to-EBITDA is -1.95. Aecon Group's overall GF Score™ is 70/100 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 Aecon Group (TSX:ARE), the current Debt-to-EBITDA is -1.95 as of Jun. 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 Aecon Group (TSX:ARE) Overvalued in 2026?
Based on GuruFocus' analysis, Aecon Group stock appears to be overvalued.
The current stock price of C$47.99 is trading 79.8% above its estimated GF Value™ of C$26.69.
GuruFocus considers Aecon Group to be Significantly Overvalued.
Key valuation signals for TSX:ARE:
Debt-to-EBITDA: -1.95
GF Value™: C$26.69 vs. price of C$47.99 (79.8% above fair value)
No single metric tells the full story. See the TSX:ARE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects. Its concessions segment is engaged in the development, financing, construction, and operation of construction projects. The company generates the maximum revenue from the Construction segment.
70GF Score
Get the complete analysis for TSX:ARE
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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