Inclusio (FRA:9ZS) EV-to-EBIT: 11.74 (As of Sep. 16, 2026) — 30% Above Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

FRA:9ZS Inclusio SA FRA:9ZS
83 GF Score
Price €15.40
GF Value €17.77
Valuation Modestly Undervalued
! 7 Warning Signs
View Full Analysis

What is Inclusio EV-to-EBIT?

Inclusio FRA:9ZS -0.65% 83 EV-to-EBIT is 11.74 as of Sep. 16, 2026, which is 30% above its 10-year median of 9.02. GuruFocus rates FRA:9ZS with a GF Score™ of 83/100 and a GF Value™ of €17.77 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 1,344 Real Estate companies, Inclusio ranks better than 55.21% on this metric.

EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Inclusio's Enterprise Value is €304.59 Mil. Inclusio's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €25.93 Mil. Therefore, Inclusio's EV-to-EBIT for today is 11.74.

The historical rank and industry rank for Inclusio's EV-to-EBIT or its related term are showing as below:

FRA:9ZS' s EV-to-EBIT Range Over the Past 10 Years
Min: -126.92   Med: 9.02   Max: 429.13
Current: 11.74

During the past 8 years, the highest EV-to-EBIT of Inclusio was 429.13. The lowest was -126.92. And the median was 9.02.

FRA:9ZS's EV-to-EBIT is ranked better than
55.21% of 1344 companies
in the Real Estate industry
Industry Median: 13.4 vs FRA:9ZS: 11.74

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %. Inclusio's Enterprise Value for the quarter that ended in Jun. 2026 was €309.10 Mil. Inclusio's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 was €25.93 Mil. Inclusio's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 8.39%.


Inclusio  (FRA:9ZS) EV-to-EBIT Explanation

This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %.

Inclusio's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2026 is calculated as:

Earnings Yield (Joel Greenblatt) % (Q: Jun. 2026 ) =EBIT / Enterprise Value (Q: Jun. 2026 )
=25.934/309.10188725
=8.39 %

Inclusio's Enterprise Value for the quarter that ended in Jun. 2026 was €309.10 Mil.
Inclusio's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €25.93 Mil.

* 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.


Inclusio EV-to-EBIT Related Terms


Inclusio EV-to-EBIT Historical Data

* Premium members only.

The historical data trend for Inclusio's EV-to-EBIT 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.

Inclusio EV-to-EBIT Chart

Inclusio Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-EBIT
Get a 7-Day Free Trial 12.68 8.66 6.05 10.12 14.87

Inclusio Quarterly Data
Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
EV-to-EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 6.76 10.88 14.08 15.32 12.25

FRA:9ZS vs CBRE, BEKE, JLL: EV-to-EBIT Comparison

For the Real Estate Services subindustry, Inclusio's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT 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.


Inclusio EV-to-EBIT vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Inclusio's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Inclusio's EV-to-EBIT falls into.


FRA:9ZS
83GF Score
Inclusio SA FRA:9ZS
EV-to-EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Inclusio EV-to-EBIT Calculation

Inclusio's EV-to-EBIT for today is calculated as:

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=304.587/25.934
=11.74

Inclusio's current Enterprise Value is €304.59 Mil.
Inclusio's EBIT for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €25.93 Mil.

* 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.

Frequently Asked Questions Learn more about EV-to-EBIT →
What does a EV-to-EBIT of 11.74 mean?
Inclusio (FRA:9ZS) has a EV-to-EBIT of 11.74 as of Sep. 16, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Inclusio and its competitors. This is 30% above median its historical median of 9.02. According to the industry distribution chart, Inclusio ranks #602 out of 1344 companies in the Real Estate industry, placing it in the top 44.8%.
Is Inclusio's EV-to-EBIT too high?
Inclusio's current EV-to-EBIT of 11.74 is 30% above median its 10-year median of 9.02. The Real Estate industry median EV-to-EBIT is 13.40. Inclusio's value of 11.74 is 12.4% below this industry median. Based on the distribution chart, Inclusio ranks #602 out of 1344 companies in the Real Estate industry, which is above the industry midpoint. Overall, Inclusio has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Inclusio's EV-to-EBIT compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, Inclusio ranks #602 out of 1344 companies for EV-to-EBIT. This puts Inclusio in the upper half of its industry. The industry median EV-to-EBIT is 13.40. Inclusio's value of 11.74 is 12.4% below this benchmark. While the company's 10-year median is 9.02 vs. the industry median of 13.40, Inclusio 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 EV-to-EBIT for a Real Estate company?
The median EV-to-EBIT among Real Estate companies is 13.40, based on 1,344 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Inclusio's current EV-to-EBIT of 11.74 is 12.4% 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 EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Inclusio and its competitors. For the Real Estate industry, the median EV-to-EBIT is 13.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Inclusio's current EV-to-EBIT is 11.74, which is 30% above median its own 10-year median of 9.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Inclusio stock overvalued right now?
Based on GuruFocus' analysis, Inclusio (FRA:9ZS) is currently considered Modestly Undervalued. The stock's GF Value™ is €17.77, compared to a current price of €15.40 — trading 13.3% below its estimated fair value. The current EV-to-EBIT is 11.74, which is 30% above median its 10-year median of 9.02 and 12.4% below the Real Estate industry median of 13.40. Inclusio's overall GF Score™ is 83/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For Inclusio (FRA:9ZS), the current EV-to-EBIT is 11.74 as of Sep. 16, 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 Inclusio (FRA:9ZS) Overvalued in 2026?

Based on GuruFocus' analysis, Inclusio stock appears to be undervalued. The current stock price of €15.40 is trading 13.3% below its estimated GF Value™ of €17.77. GuruFocus considers Inclusio to be Modestly Undervalued.

Key valuation signals for FRA:9ZS:

  • EV-to-EBIT: 11.74 (30% above median its 10-year median of 9.02)
  • GF Value™: €17.77 vs. price of €15.40 (13.3% below fair value)
  • GF Score™: 83/100 with 7 warning signs
  • Industry Position: 12.4% below the Real Estate median (#602 of 1344)

No single metric tells the full story. See the FRA:9ZS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Inclusio Business Description

Other Exchanges INCLU:Belgium
Address Avenue Herrmann-Debroux 40, Brussels, BEL, 1160
Inclusio SA holds and manages social housing residential assets. The company is engaged in acquisition, development and management buildings made available to low and middle income tenants. Its portfolio includes new or renovated residential buildings leased to social partners, schools, nurseries, and reception centers for asylum seekers.
83GF Score

Get the complete analysis for FRA:9ZS

EV-to-EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€15.40
Price
€17.77
GF Value