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CogstateASX:CGS -0.72%76 EV-to-EBITDA is 16.17 as of Jul. 15, 2026, which is 32% below its 10-year median of 23.92. GuruFocus rates ASX:CGS with a GF Score™ of 76/100 and a GF Value™ of A$2.10 (Significantly Overvalued). The stock has 4 warning signs investors should review. Among 507 Healthcare Providers & Services companies, Cogstate ranks worse than 67.46% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Cogstate's enterprise value is A$423.58 Mil.
Cogstate's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was A$26.20 Mil. Therefore, Cogstate's EV-to-EBITDA for today is 16.17.
The historical rank and industry rank for Cogstate's EV-to-EBITDA or its related term are showing as below:
ASX:CGS'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -13.09 Med: 23.92 Max: 1797.19
Current: 16.17
During the past 13 years, the highest EV-to-EBITDA of Cogstate was 1797.19. The lowest was -13.09. And the median was 23.92.
ASX:CGS's EV-to-EBITDA is ranked worse than 67.46% of 507
companies
in the Healthcare Providers & Services industry
Industry Median: 10.89
vs ASX:CGS: 16.17
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
Cogstate (ASX:CGS) EV-to-EBITDA Explanation
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Cogstate's share price for today is A$2.76.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cogstate's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was A$0.094.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Cogstate's EV-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.
ASX:CGS vs VEEV, BTSG, TEM: EV-to-EBITDA Comparison
For the Health Information Services subindustry, Cogstate's EV-to-EBITDA, along with its competitors' market caps and EV-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.
Cogstate EV-to-EBITDA vs Healthcare Providers & Services Industry
For the Healthcare Providers & Services industry and Healthcare sector, Cogstate's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Cogstate's EV-to-EBITDA falls into.
Cogstate's current Enterprise Value is A$423.58 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Cogstate's EBITDA for the trailing twelve months (TTM) ended in Dec. 2025 was A$26.20 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.
Cogstate (ASX:CGS) has a EV-to-EBITDA of 16.17 as of Jul. 15, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cogstate. This is 32% below median its historical median of 23.92. According to the industry distribution chart, Cogstate ranks #342 out of 507 companies in the Healthcare Providers & Services industry, placing it in the top 67.5%.
Is Cogstate's EV-to-EBITDA too high?
Cogstate's current EV-to-EBITDA of 16.17 is 32% below median its 10-year median of 23.92. The Healthcare Providers & Services industry median EV-to-EBITDA is 10.89. Cogstate's value of 16.17 is 48.5% above this industry median. Based on the distribution chart, Cogstate ranks #342 out of 507 companies in the Healthcare Providers & Services industry, which is below the industry midpoint. Overall, Cogstate has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Cogstate's EV-to-EBITDA compare to VEEV and BTSG?
According to the Healthcare Providers & Services industry distribution chart, Cogstate ranks #342 out of 507 companies for EV-to-EBITDA. This places Cogstate in the lower half of its industry. The industry median EV-to-EBITDA is 10.89. Cogstate's value of 16.17 is 48.5% above this benchmark. While the company's 10-year median is 23.92 vs. the industry median of 10.89, Cogstate has consistently been above 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-EBITDA for a Healthcare Providers & Services company?
The median EV-to-EBITDA among Healthcare Providers & Services companies is 10.89, based on 507 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Cogstate's current EV-to-EBITDA of 16.17 is 48.5% above 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-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Cogstate. For the Healthcare Providers & Services industry, the median EV-to-EBITDA is 10.89 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Cogstate's current EV-to-EBITDA is 16.17, which is 32% below median its own 10-year median of 23.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cogstate stock overvalued right now?
Based on GuruFocus' analysis, Cogstate (ASX:CGS) is currently considered Significantly Overvalued. The stock's GF Value™ is A$2.10, compared to a current price of A$2.76 — trading 31.4% above its estimated fair value. The current EV-to-EBITDA is 16.17, which is 32% below median its 10-year median of 23.92 and 48.5% above the Healthcare Providers & Services industry median of 10.89. Cogstate's overall GF Score™ is 76/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Cogstate (ASX:CGS), the current EV-to-EBITDA is 16.17 as of Jul. 15, 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 Cogstate (ASX:CGS) Overvalued in 2026?
Based on GuruFocus' analysis, Cogstate stock appears to be overvalued.
The current stock price of A$2.76 is trading 31.4% above its estimated GF Value™ of A$2.10.
GuruFocus considers Cogstate to be Significantly Overvalued.
Key valuation signals for ASX:CGS:
EV-to-EBITDA: 16.17 (32% below median its 10-year median of 23.92)
GF Value™: A$2.10 vs. price of A$2.76 (31.4% above fair value)
Industry Position: 48.5% above the Healthcare Providers & Services median (#342 of 507)
No single metric tells the full story. See the ASX:CGS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Cogstate Ltd is a cognitive science company. The principal activity of the group is the Creation, validation, and commercialisation of digital brain health assessments; and the Design and provision of quality assurance services in clinical trials, focused on the administration, scoring, and recording of conventional brain health assessments and reporting. Its operating segment includes Clinical Trials, Healthcare, and Administration. The company generates maximum revenue from the Clinical Trials segment. In the clinical trials segment, technology and services are sold to pharmaceutical and biotechnology companies. The company derives revenue from the sale of licensed software and cognitive testing services.
76GF Score
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