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.
Toplivo ADXBUL:TOPL 48 Debt-to-EBITDA is -3.91 as of Jun. 2025. GuruFocus rates XBUL:TOPL with a GF Score™ of 48/100 and a GF Value™ of €4.44 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 709 Oil & Gas companies, Toplivo AD ranks worse than 93.65% 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 Toplivo AD's Debt-to-EBITDA or its related term are showing as below:
XBUL:TOPL'
s Debt-to-EBITDA Range Over the Past 10 Years
Min: -29.48 Med: -6.39 Max: 20.4
Current: 11.61
During the past 13 years, the highest Debt-to-EBITDA Ratio of Toplivo AD was 20.40. The lowest was -29.48. And the median was -6.39.
XBUL:TOPL's Debt-to-EBITDA is ranked worse than 93.65% of 709
companies
in the Oil & Gas industry
Industry Median: 2.01
vs XBUL:TOPL: 11.61
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.
Toplivo AD Debt-to-EBITDA Related Terms
Toplivo AD Debt-to-EBITDA Historical Data
* Premium members only.
The historical data trend for Toplivo AD'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.
XBUL:TOPL vs MPC, VLO, PSX: Debt-to-EBITDA Comparison
For the Oil & Gas Refining & Marketing subindustry, Toplivo AD'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.
Toplivo AD Debt-to-EBITDA vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Toplivo AD's Debt-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Toplivo AD'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 two times the quarterly (Jun. 2025) EBITDA data.
Toplivo AD (XBUL:TOPL) has a Debt-to-EBITDA of -3.91 as of Jun. 2025. Debt-to-EBITDA ratio represents the ratio of total debt to total earnings before interest, taxes, depreciation and amortization. View historical data on Toplivo AD. According to the industry distribution chart, Toplivo AD ranks #664 out of 709 companies in the Oil & Gas industry, placing it in the top 93.7%.
Is Toplivo AD's Debt-to-EBITDA too high?
Toplivo AD's current Debt-to-EBITDA is -3.91. Based on the distribution chart, Toplivo AD ranks #664 out of 709 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, Toplivo AD has a GF Score™ of 48/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Toplivo AD's Debt-to-EBITDA compare to MPC and VLO?
According to the Oil & Gas industry distribution chart, Toplivo AD ranks #664 out of 709 companies for Debt-to-EBITDA. This places Toplivo AD in the lower half of its industry. The industry median Debt-to-EBITDA is 2.01. 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 709 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 Toplivo AD. 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. Toplivo AD's current Debt-to-EBITDA is -3.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Toplivo AD stock overvalued right now?
Based on GuruFocus' analysis, Toplivo AD (XBUL:TOPL) is currently considered Modestly Undervalued. The stock's GF Value™ is €4.44, compared to a current price of €3.90 — trading 12.2% below its estimated fair value. The current Debt-to-EBITDA is -3.91. Toplivo AD's overall GF Score™ is 48/100 with 1 warning sign 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 Toplivo AD (XBUL:TOPL), the current Debt-to-EBITDA is -3.91 as of Jun. 2025. 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 Toplivo AD (XBUL:TOPL) Overvalued in 2026?
Based on GuruFocus' analysis, Toplivo AD stock appears to be undervalued.
The current stock price of €3.90 is trading 12.2% below its estimated GF Value™ of €4.44.
GuruFocus considers Toplivo AD to be Modestly Undervalued.
Key valuation signals for XBUL:TOPL:
Debt-to-EBITDA: -3.91
GF Value™: €4.44 vs. price of €3.90 (12.2% below fair value)
No single metric tells the full story. See the XBUL:TOPL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Toplivo AD is engaged in the provision of petroleum products like propane-butane, liquid petrol and liquid petroleum gas. It also offers construction and heating materials like firewood, wooden materials, decorating tiles, briquettes, wood, and metals.
48GF Score
Get the complete analysis for XBUL:TOPL
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
XBUL:TOPL has been successfully added to your 
