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Refex IndustriesNSE:REFEX -1.83%90 EV-to-EBITDA is 12.39 as of Jul. 14, 2026, which is 61% above its 10-year median of 7.69. GuruFocus rates NSE:REFEX with a GF Score™ of 90/100 and a GF Value™ of ₹294.70 (Modestly Overvalued). The stock has 6 warning signs investors should review. Among 100 Other Energy Sources companies, Refex Industries ranks worse than 59% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Refex Industries's enterprise value is ₹46,800 Mil.
Refex Industries's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was ₹3,779 Mil. Therefore, Refex Industries's EV-to-EBITDA for today is 12.39.
The historical rank and industry rank for Refex Industries's EV-to-EBITDA or its related term are showing as below:
NSE:REFEX'
s EV-to-EBITDA Range Over the Past 10 Years
Min: 0.78 Med: 7.69 Max: 42.06
Current: 12.39
During the past 13 years, the highest EV-to-EBITDA of Refex Industries was 42.06. The lowest was 0.78. And the median was 7.69.
NSE:REFEX's EV-to-EBITDA is ranked worse than 59% of 100
companies
in the Other Energy Sources industry
Industry Median: 9.12
vs NSE:REFEX: 12.39
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.
Refex Industries's PE Ratio (TTM) for today is calculated as:
Refex Industries's share price for today is ₹338.45.
Refex Industries's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹14.590.
* 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 Refex Industries'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 Thermal Coal subindustry, Refex Industries'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.
Refex Industries EV-to-EBITDA vs Other Energy Sources Industry
For the Other Energy Sources industry and Energy sector, Refex Industries's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Refex Industries's EV-to-EBITDA falls into.
Refex Industries's current Enterprise Value is ₹46,800 Mil.
Refex Industries's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was ₹3,779 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.
Refex Industries (NSE:REFEX) has a EV-to-EBITDA of 12.39 as of Jul. 14, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Refex Industries. This is 61% above median its historical median of 7.69. Over the past decade, Refex Industries' EV-to-EBITDA has ranged from 0.78 to 42.06. According to the industry distribution chart, Refex Industries ranks #59 out of 100 companies in the Other Energy Sources industry, placing it in the top 59%.
Is Refex Industries' EV-to-EBITDA too high?
Refex Industries' current EV-to-EBITDA of 12.39 is 61% above median its 10-year median of 7.69. Over the past 10 years, this metric has ranged from a low of 0.78 to a high of 42.06. The Other Energy Sources industry median EV-to-EBITDA is 9.12. Refex Industries' value of 12.39 is 35.9% above this industry median. Based on the distribution chart, Refex Industries ranks #59 out of 100 companies in the Other Energy Sources industry, which is below the industry midpoint. Overall, Refex Industries has a GF Score™ of 90/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Refex Industries' EV-to-EBITDA compare to competitors?
According to the Other Energy Sources industry distribution chart, Refex Industries ranks #59 out of 100 companies for EV-to-EBITDA. This places Refex Industries in the lower half of its industry. The industry median EV-to-EBITDA is 9.12. Refex Industries' value of 12.39 is 35.9% above this benchmark. Historically, Refex Industries' own EV-to-EBITDA has ranged from 0.78 to 42.06 over the past decade. While the company's 10-year median is 7.69 vs. the industry median of 9.12, Refex Industries 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 an Other Energy Sources company?
The median EV-to-EBITDA among Other Energy Sources companies is 9.12, based on 100 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. Refex Industries's current EV-to-EBITDA of 12.39 is 35.9% 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 Refex Industries. For the Other Energy Sources industry, the median EV-to-EBITDA is 9.12 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Refex Industries's current EV-to-EBITDA is 12.39, which is 61% above median its own 10-year median of 7.69. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Refex Industries stock overvalued right now?
Based on GuruFocus' analysis, Refex Industries (NSE:REFEX) is currently considered Modestly Overvalued. The stock's GF Value™ is ₹294.70, compared to a current price of ₹338.45 — trading 14.8% above its estimated fair value. The current EV-to-EBITDA is 12.39, which is 61% above median its 10-year median of 7.69 and 35.9% above the Other Energy Sources industry median of 9.12. Refex Industries' overall GF Score™ is 90/100 with 6 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 Refex Industries (NSE:REFEX), the current EV-to-EBITDA is 12.39 as of Jul. 14, 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 Refex Industries (NSE:REFEX) Overvalued in 2026?
Based on GuruFocus' analysis, Refex Industries stock appears to be overvalued.
The current stock price of ₹338.45 is trading 14.8% above its estimated GF Value™ of ₹294.70.
GuruFocus considers Refex Industries to be Modestly Overvalued.
Key valuation signals for NSE:REFEX:
EV-to-EBITDA: 12.39 (61% above median its 10-year median of 7.69)
GF Value™: ₹294.70 vs. price of ₹338.45 (14.8% above fair value)
Industry Position: 35.9% above the Other Energy Sources median (#59 of 100)
No single metric tells the full story. See the NSE:REFEX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Refex Industries Ltd is a manufacturer and refiller of refrigerant gases. The company's operating segment includes Coal & Ash Handling Business, Solar Power - Generation and Related Activities, Refrigerant Gas- (Refilling) and Sales, Sale Of Services, Power Trading, and Others. Geographically, the business activities are operated throughout the region of India.
90GF Score
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