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.
Spear REITJSE:SEA 71 EV-to-EBITDA is 8.55 as of Aug. 13, 2026, which is 0% above its 10-year median of 8.52. GuruFocus rates JSE:SEA with a GF Score™ of 71/100 and a GF Value™ of R7.67 (Significantly Overvalued). The stock has 11 warning signs investors should review. Among 675 REITs companies, Spear REIT ranks better than 83.26% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Spear REIT's enterprise value is R8,301.7 Mil.
Spear REIT's EBITDA for the trailing twelve months (TTM) ended in Feb. 2026 was R970.8 Mil. Therefore, Spear REIT's EV-to-EBITDA for today is 8.55.
The historical rank and industry rank for Spear REIT's EV-to-EBITDA or its related term are showing as below:
JSE:SEA'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 5.44 Med: 8.52 Max: 17.17
Current: 8.55
During the past 10 years, the highest EV-to-EBITDA of Spear REIT was 17.17. The lowest was 5.44. And the median was 8.52.
JSE:SEA's EV-to-EBITDA is ranked better than 83.26% of 675
companies
in the REITs industry
Industry Median: 15.49
vs JSE:SEA: 8.55
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.
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.
Spear REIT's share price for today is R12.95.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Spear REIT's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Feb. 2026 was R2.061.
* 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 Spear REIT'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.
For the REIT - Diversified subindustry, Spear REIT'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.
Spear REIT EV-to-EBITDA vs REITs Industry
For the REITs industry and Real Estate sector, Spear REIT's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Spear REIT's EV-to-EBITDA falls into.
Spear REIT's current Enterprise Value is R8,301.7 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Spear REIT's EBITDA for the trailing twelve months (TTM) ended in Feb. 2026 was R970.8 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.
Spear REIT (JSE:SEA) has a EV-to-EBITDA of 8.55 as of Aug. 13, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Spear REIT. This is near median its historical median of 8.52. Over the past decade, Spear REIT's EV-to-EBITDA has ranged from 5.44 to 17.17. According to the industry distribution chart, Spear REIT ranks #113 out of 675 companies in the REITs industry, placing it in the top 16.7%.
Is Spear REIT's EV-to-EBITDA too high?
Spear REIT's current EV-to-EBITDA of 8.55 is near median its 10-year median of 8.52. Over the past 10 years, this metric has ranged from a low of 5.44 to a high of 17.17. The REITs industry median EV-to-EBITDA is 15.49. Spear REIT's value of 8.55 is 44.8% below this industry median. Based on the distribution chart, Spear REIT ranks #113 out of 675 companies in the REITs industry, which is in the top quartile — a strong position relative to peers. Overall, Spear REIT has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Spear REIT's EV-to-EBITDA compare to VICI and WPC?
According to the REITs industry distribution chart, Spear REIT ranks #113 out of 675 companies for EV-to-EBITDA. This places Spear REIT in the top 17% of its industry — outperforming the majority of peers. The industry median EV-to-EBITDA is 15.49. Spear REIT's value of 8.55 is 44.8% below this benchmark. Historically, Spear REIT's own EV-to-EBITDA has ranged from 5.44 to 17.17 over the past decade. While the company's 10-year median is 8.52 vs. the industry median of 15.49, Spear REIT 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-EBITDA for a REITs company?
The median EV-to-EBITDA among REITs companies is 15.49, based on 675 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. Spear REIT's current EV-to-EBITDA of 8.55 is 44.8% 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-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 Spear REIT. For the REITs industry, the median EV-to-EBITDA is 15.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spear REIT's current EV-to-EBITDA is 8.55, which is near median its own 10-year median of 8.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spear REIT stock overvalued right now?
Based on GuruFocus' analysis, Spear REIT (JSE:SEA) is currently considered Significantly Overvalued. The stock's GF Value™ is R7.67, compared to a current price of R12.95 — trading 68.8% above its estimated fair value. The current EV-to-EBITDA is 8.55, which is near median its 10-year median of 8.52 and 44.8% below the REITs industry median of 15.49. Spear REIT's overall GF Score™ is 71/100 with 11 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 Spear REIT (JSE:SEA), the current EV-to-EBITDA is 8.55 as of Aug. 13, 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 Spear REIT (JSE:SEA) Overvalued in 2026?
Based on GuruFocus' analysis, Spear REIT stock appears to be overvalued.
The current stock price of R12.95 is trading 68.8% above its estimated GF Value™ of R7.67.
GuruFocus considers Spear REIT to be Significantly Overvalued.
Key valuation signals for JSE:SEA:
EV-to-EBITDA: 8.55 (near median its 10-year median of 8.52)
GF Value™: R7.67 vs. price of R12.95 (68.8% above fair value)
Industry Position: 44.8% below the REITs median (#113 of 675)
No single metric tells the full story. See the JSE:SEA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spear REIT Ltd is a real estate investment trust. The company has five segments Industrial, Commercial, Retail, Development, and Non-property. The company generates majority of revenue from Industrial segment. The industrial portfolio comprises a diverse range of multi-let industrial properties, warehouses, logistics parks, and urban logistics facilities. The company has presence in Cape.
71GF Score
Get the complete analysis for JSE:SEA
EV-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
JSE:SEA has been successfully added to your 
