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Northland PowerTSX:NPI -2.34%72 Debt-to-EBITDA is 3.50 as of Mar. 2026, which is 41% below its 10-year median of 5.89. GuruFocus rates TSX:NPI with a GF Score™ of 72/100 and a GF Value™ of C$24.27 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 339 Utilities - Independent Power Producers companies, Northland Power ranks worse than 64.31% 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 Northland Power's Debt-to-EBITDA or its related term are showing as below:
TSX:NPI'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: 3.18 Med: 5.89 Max: 8.86
Current: 7.1
During the past 13 years, the highest Debt-to-EBITDA Ratio of Northland Power was 8.86. The lowest was 3.18. And the median was 5.89.
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.
Northland Power Debt-to-EBITDA Related Terms
Northland Power Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Northland Power'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.
Northland Power Debt-to-EBITDA Competitor Comparison
For the Utilities - Renewable subindustry, Northland Power'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.
Northland Power Debt-to-EBITDA vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, Northland Power's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Northland Power'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.
Northland Power (TSX:NPI) has a Debt-to-EBITDA of 3.50 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 Northland Power. This is 41% below median its historical median of 5.89. Over the past decade, Northland Power's Debt-to-EBITDA has ranged from 3.18 to 8.86. According to the industry distribution chart, Northland Power ranks #218 out of 339 companies in the Utilities - Independent Power Producers industry, placing it in the top 64.3%.
Is Northland Power's Debt-to-EBITDA too high?
Northland Power's current Debt-to-EBITDA of 3.50 is 41% below median its 10-year median of 5.89. Over the past 10 years, this metric has ranged from a low of 3.18 to a high of 8.86. The Utilities - Independent Power Producers industry median Debt-to-EBITDA is 4.59. Northland Power's value of 3.50 is 23.7% below this industry median. Based on the distribution chart, Northland Power ranks #218 out of 339 companies in the Utilities - Independent Power Producers industry, which is below the industry midpoint. Overall, Northland Power has a GF Score™ of 72/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Northland Power's Debt-to-EBITDA compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, Northland Power ranks #218 out of 339 companies for Debt-to-EBITDA. This places Northland Power in the lower half of its industry. The industry median Debt-to-EBITDA is 4.59. Northland Power's value of 3.50 is 23.7% below this benchmark. Historically, Northland Power's own Debt-to-EBITDA has ranged from 3.18 to 8.86 over the past decade. While the company's 10-year median is 5.89 vs. the industry median of 4.59, Northland Power 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 Utilities - Independent Power Producers company?
The median Debt-to-EBITDA among Utilities - Independent Power Producers companies is 4.59, based on 339 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. Northland Power's current Debt-to-EBITDA of 3.50 is 23.7% 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 Northland Power. For the Utilities - Independent Power Producers industry, the median Debt-to-EBITDA is 4.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northland Power's current Debt-to-EBITDA is 3.50, which is 41% below median its own 10-year median of 5.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northland Power stock overvalued right now?
Based on GuruFocus' analysis, Northland Power (TSX:NPI) is currently considered Modestly Undervalued. The stock's GF Value™ is C$24.27, compared to a current price of C$21.27 — trading 12.4% below its estimated fair value. The current Debt-to-EBITDA is 3.50, which is 41% below median its 10-year median of 5.89 and 23.7% below the Utilities - Independent Power Producers industry median of 4.59. Northland Power's overall GF Score™ is 72/100 with 7 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 Northland Power (TSX:NPI), the current Debt-to-EBITDA is 3.50 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 Northland Power (TSX:NPI) Overvalued in 2026?
Based on GuruFocus' analysis, Northland Power stock appears to be undervalued.
The current stock price of C$21.27 is trading 12.4% below its estimated GF Value™ of C$24.27.
GuruFocus considers Northland Power to be Modestly Undervalued.
Key valuation signals for TSX:NPI:
Debt-to-EBITDA: 3.50 (41% below median its 10-year median of 5.89)
GF Value™: C$24.27 vs. price of C$21.27 (12.4% below fair value)
Industry Position: 23.7% below the Utilities - Independent Power Producers median (#218 of 339)
No single metric tells the full story. See the TSX:NPI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northland Power develops, constructs, and operates sustainable infrastructure assets across a range of clean and green technologies, such as wind (offshore and onshore), solar, and supplying energy through a regulated utility. Offshore wind is expected to remain the company's largest segment over the long term. Northland's growth opportunities are global and span North America, Europe, Latin America, and Asia.
72GF Score
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