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Calfrac Well ServicesTSX:CFW -0.78%48 Debt-to-EBITDA is 0.84 as of Mar. 2026, which is 67% below its 10-year median of 2.58. GuruFocus rates TSX:CFW with a GF Score™ of 48/100 and a GF Value™ of C$2.96 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 706 Oil & Gas companies, Calfrac Well Services ranks better than 74.93% on this metric.
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 Calfrac Well Services's Debt-to-EBITDA or its related term are showing as below:
TSX:CFW'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -12.3 Med: 2.58 Max: 9.32
Current: 0.79
During the past 13 years, the highest Debt-to-EBITDA Ratio of Calfrac Well Services was 9.32. The lowest was -12.30. And the median was 2.58.
TSX:CFW's Debt-to-EBITDA is ranked better than 74.93% of 706
companies
in the Oil & Gas industry
Industry Median: 2.005
vs TSX:CFW: 0.79
Calfrac Well Services (TSX:CFW) Debt-to-EBITDA Explanation
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.
Calfrac Well Services Debt-to-EBITDA Related Terms
Calfrac Well Services Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Calfrac Well Services'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:CFW vs SLB, BKR, HAL: Debt-to-EBITDA Comparison
For the Oil & Gas Equipment & Services subindustry, Calfrac Well Services'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.
Calfrac Well Services Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Calfrac Well Services's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Calfrac Well Services'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 (Mar. 2026) EBITDA data.
Calfrac Well Services (TSX:CFW) has a Debt-to-EBITDA of 0.84 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 Calfrac Well Services. This is 67% below median its historical median of 2.58. According to the industry distribution chart, Calfrac Well Services ranks #177 out of 706 companies in the Oil & Gas industry, placing it in the top 25.1%.
Is Calfrac Well Services' Debt-to-EBITDA too high?
Calfrac Well Services' current Debt-to-EBITDA of 0.84 is 67% below median its 10-year median of 2.58. The Oil & Gas industry median Debt-to-EBITDA is 2.01. Calfrac Well Services' value of 0.84 is 58.1% below this industry median. Based on the distribution chart, Calfrac Well Services ranks #177 out of 706 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Calfrac Well Services has a GF Score™ of 48/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Calfrac Well Services' Debt-to-EBITDA compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, Calfrac Well Services ranks #177 out of 706 companies for Debt-to-EBITDA. This puts Calfrac Well Services in the upper half of its industry. The industry median Debt-to-EBITDA is 2.01. Calfrac Well Services' value of 0.84 is 58.1% below this benchmark. While the company's 10-year median is 2.58 vs. the industry median of 2.01, Calfrac Well Services 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 an Oil & Gas company?
The median Debt-to-EBITDA among Oil & Gas companies is 2.01, based on 706 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. Calfrac Well Services's current Debt-to-EBITDA of 0.84 is 58.1% 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 Calfrac Well Services. For the Oil & Gas industry, the median Debt-to-EBITDA is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Calfrac Well Services's current Debt-to-EBITDA is 0.84, which is 67% below median its own 10-year median of 2.58. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Calfrac Well Services stock overvalued right now?
Based on GuruFocus' analysis, Calfrac Well Services (TSX:CFW) is currently considered Significantly Overvalued. The stock's GF Value™ is C$2.96, compared to a current price of C$6.36 — trading 114.9% above its estimated fair value. The current Debt-to-EBITDA is 0.84, which is 67% below median its 10-year median of 2.58 and 58.1% below the Oil & Gas industry median of 2.01. Calfrac Well Services' overall GF Score™ is 48/100 with 5 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 Calfrac Well Services (TSX:CFW), the current Debt-to-EBITDA is 0.84 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 Calfrac Well Services (TSX:CFW) Overvalued in 2026?
Based on GuruFocus' analysis, Calfrac Well Services stock appears to be overvalued.
The current stock price of C$6.36 is trading 114.9% above its estimated GF Value™ of C$2.96.
GuruFocus considers Calfrac Well Services to be Significantly Overvalued.
Key valuation signals for TSX:CFW:
Debt-to-EBITDA: 0.84 (67% below median its 10-year median of 2.58)
GF Value™: C$2.96 vs. price of C$6.36 (114.9% above fair value)
Industry Position: 58.1% below the Oil & Gas median (#177 of 706)
No single metric tells the full story. See the TSX:CFW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Calfrac Well Services Ltd is an independent provider of specialized oilfield services, including hydraulic fracturing, coiled tubing, cementing, and wireline services for the oil and natural gas industries in the United States, Canada, and Argentina. The company operates through two main segments. Its North America segment provides fracturing services to oil and natural gas companies operating in the Williston Basin in North Dakota, as well as the broader Rockies region. The Argentina segment, which generates the highest revenue, offers fracturing, coiled tubing, cementing, and other well stimulation services to oil and natural gas companies operating in the Neuquen and Comodoro Rivadavia regions.
48GF Score
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