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.
Fon SEWAR:FON -2.54%66 Debt-to-EBITDA is 2.82 as of Mar. 2026, which is 8% below its 10-year median of 3.06. GuruFocus rates WAR:FON with a GF Score™ of 66/100 and a GF Value™ of zł2.72 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 284 Credit Services companies, Fon SE ranks better than 75.35% 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 Fon SE's Debt-to-EBITDA or its related term are showing as below:
WAR:FON'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -0.17 Med: 3.06 Max: 28.34
Current: 2.59
During the past 13 years, the highest Debt-to-EBITDA Ratio of Fon SE was 28.34. The lowest was -0.17. And the median was 3.06.
WAR:FON's Debt-to-EBITDA is ranked better than 75.35% of 284
companies
in the Credit Services industry
Industry Median: 9.055
vs WAR:FON: 2.59
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.
Fon SE Debt-to-EBITDA Related Terms
Fon SE Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Fon SE'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.
For the Credit Services subindustry, Fon SE'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.
Fon SE Debt-to-EBITDA vs Credit Services Industry
For the Credit Services industry and Financial Services sector, Fon SE's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Fon SE'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.
Fon SE (WAR:FON) has a Debt-to-EBITDA of 2.82 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 Fon SE. This is near median its historical median of 3.06. According to the industry distribution chart, Fon SE ranks #70 out of 284 companies in the Credit Services industry, placing it in the top 24.6%.
Is Fon SE's Debt-to-EBITDA too high?
Fon SE's current Debt-to-EBITDA of 2.82 is near median its 10-year median of 3.06. The Credit Services industry median Debt-to-EBITDA is 9.06. Fon SE's value of 2.82 is 68.9% below this industry median. Based on the distribution chart, Fon SE ranks #70 out of 284 companies in the Credit Services industry, which is in the top quartile — a strong position relative to peers. Overall, Fon SE has a GF Score™ of 66/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Fon SE's Debt-to-EBITDA compare to V and MA?
According to the Credit Services industry distribution chart, Fon SE ranks #70 out of 284 companies for Debt-to-EBITDA. This places Fon SE in the top 25% of its industry — outperforming the majority of peers. The industry median Debt-to-EBITDA is 9.06. Fon SE's value of 2.82 is 68.9% below this benchmark. While the company's 10-year median is 3.06 vs. the industry median of 9.06, Fon SE 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 a Credit Services company?
The median Debt-to-EBITDA among Credit Services companies is 9.06, based on 284 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. Fon SE's current Debt-to-EBITDA of 2.82 is 68.9% 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 Fon SE. For the Credit Services industry, the median Debt-to-EBITDA is 9.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fon SE's current Debt-to-EBITDA is 2.82, which is near median its own 10-year median of 3.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fon SE stock overvalued right now?
Based on GuruFocus' analysis, Fon SE (WAR:FON) is currently considered Possible Value Trap. The stock's GF Value™ is zł2.72, compared to a current price of zł1.73 — trading 36.6% below its estimated fair value. The current Debt-to-EBITDA is 2.82, which is near median its 10-year median of 3.06 and 68.9% below the Credit Services industry median of 9.06. Fon SE's overall GF Score™ is 66/100 with 3 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 Fon SE (WAR:FON), the current Debt-to-EBITDA is 2.82 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 Fon SE (WAR:FON) Overvalued in 2026?
Based on GuruFocus' analysis, Fon SE stock appears to be undervalued.
The current stock price of zł1.73 is trading 36.6% below its estimated GF Value™ of zł2.72.
GuruFocus considers Fon SE to be Possible Value Trap.
Key valuation signals for WAR:FON:
Debt-to-EBITDA: 2.82 (near median its 10-year median of 3.06)
GF Value™: zł2.72 vs. price of zł1.73 (36.6% below fair value)
Industry Position: 68.9% below the Credit Services median (#70 of 284)
No single metric tells the full story. See the WAR:FON stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fon SE is engaged in financial activities and capital investments. The company offers medium-term cash loans to retail clients and small businesses and generates revenue through interest on loans granted. Geographically, it derives a majority of its revenue from its customers in Poland and the rest from Estonia.
66GF Score
Get the complete analysis for WAR:FON
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
WAR:FON has been successfully added to your 
