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.
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.
Var Energi ASAVARRY +4.62%65 Debt-to-EBITDA is 0.46 as of Jun. 2026, which is 47% below its 10-year median of 0.86. GuruFocus rates VARRY with a GF Score™ of 65/100 and a GF Value™ of $9.36 (Fairly Valued). The stock has 6 warning signs investors should review. Among 704 Oil & Gas companies, Var Energi ASA ranks better than 79.69% 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 Var Energi ASA's Debt-to-EBITDA or its related term are showing as below:
VARRY'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -16.39 Med: 0.86 Max: 2.65
Current: 0.65
During the past 8 years, the highest Debt-to-EBITDA Ratio of Var Energi ASA was 2.65. The lowest was -16.39. And the median was 0.86.
VARRY's Debt-to-EBITDA is ranked better than 79.69% of 704
companies
in the Oil & Gas industry
Industry Median: 2.005
vs VARRY: 0.65
Var Energi ASA (OTCPK:VARRY) 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.
Var Energi ASA Debt-to-EBITDA Related Terms
Var Energi ASA Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Var Energi ASA'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.
VARRY vs COP, EOG, FANG: Debt-to-EBITDA Comparison
For the Oil & Gas E&P subindustry, Var Energi ASA'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.
Var Energi ASA Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Var Energi ASA's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Var Energi ASA'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.
Var Energi ASA (VARRY) has a Debt-to-EBITDA of 0.46 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 Var Energi ASA. This is 47% below median its historical median of 0.86. According to the industry distribution chart, Var Energi ASA ranks #143 out of 704 companies in the Oil & Gas industry, placing it in the top 20.3%.
Is Var Energi ASA's Debt-to-EBITDA too high?
Var Energi ASA's current Debt-to-EBITDA of 0.46 is 47% below median its 10-year median of 0.86. The Oil & Gas industry median Debt-to-EBITDA is 2.01. Var Energi ASA's value of 0.46 is 77.1% below this industry median. Based on the distribution chart, Var Energi ASA ranks #143 out of 704 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Var Energi ASA has a GF Score™ of 65/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Var Energi ASA's Debt-to-EBITDA compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Var Energi ASA ranks #143 out of 704 companies for Debt-to-EBITDA. This places Var Energi ASA in the top 20% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 2.01. Var Energi ASA's value of 0.46 is 77.1% below this benchmark. While the company's 10-year median is 0.86 vs. the industry median of 2.01, Var Energi ASA 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 704 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. Var Energi ASA's current Debt-to-EBITDA of 0.46 is 77.1% 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 Var Energi ASA. 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. Var Energi ASA's current Debt-to-EBITDA is 0.46, which is 47% below median its own 10-year median of 0.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Var Energi ASA stock overvalued right now?
Based on GuruFocus' analysis, Var Energi ASA (VARRY) is currently considered Fairly Valued. The stock's GF Value™ is $9.36, compared to a current price of $10.20 — trading 9% above its estimated fair value. The current Debt-to-EBITDA is 0.46, which is 47% below median its 10-year median of 0.86 and 77.1% below the Oil & Gas industry median of 2.01. Var Energi ASA's overall GF Score™ is 65/100 with 6 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 Var Energi ASA (VARRY), the current Debt-to-EBITDA is 0.46 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 Var Energi ASA (VARRY) Overvalued in 2026?
Based on GuruFocus' analysis, Var Energi ASA stock appears to be overvalued.
The current stock price of $10.20 is trading 9% above its estimated GF Value™ of $9.36.
GuruFocus considers Var Energi ASA to be Fairly Valued.
Key valuation signals for VARRY:
Debt-to-EBITDA: 0.46 (47% below median its 10-year median of 0.86)
GF Value™: $9.36 vs. price of $10.20 (9% above fair value)
Industry Position: 77.1% below the Oil & Gas median (#143 of 704)
No single metric tells the full story. See the VARRY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Var Energi ASA is an independent upstream oil and gas company on the Norwegian continental shelf. It operates within the geographical area of Norway and the business is entirely related to the exploration for and production of petroleum in Norway. The Company operates within a single operating segment, and the products include oil and gas, natural gas liquids (NGL). Revenues are mainly related to the sale of oil, gas, and NGL. Var Energi is the operator of the following producing fields: Goliat (Barents Sea), Fenja (Norwegian Sea), Gjoa, Duva, Balder, and Ringhorne (North Sea).
65GF Score
Get the complete analysis for VARRY
Debt-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
VARRY has been successfully added to your 
