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.
INCWAR:INC +1.02%50 EV-to-EBITDA is 5.34 as of Aug. 16, 2026, which is 1013% above its 10-year median of 0.48. GuruFocus rates WAR:INC with a GF Score™ of 50/100 and a GF Value™ of zł3.97 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 511 Capital Markets companies, INC ranks better than 68.69% on this metric.
EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, INC's enterprise value is zł11.40 Mil.
INC's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was zł2.13 Mil. Therefore, INC's EV-to-EBITDA for today is 5.34.
The historical rank and industry rank for INC's EV-to-EBITDA or its related term are showing as below:
WAR:INC'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -8.69 Med: 0.48 Max: 43.61
Current: 5.34
During the past 13 years, the highest EV-to-EBITDA of INC was 43.61. The lowest was -8.69. And the median was 0.48.
WAR:INC's EV-to-EBITDA is ranked better than 68.69% of 511
companies
in the Capital Markets industry
Industry Median: 9.35
vs WAR:INC: 5.34
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.
As of today (2026-08-16), INC's stock price is zł1.485.
INC's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was zł0.027. Therefore, INC's PE Ratio (TTM) for today is 55.00.
The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).
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.
INC's share price for today is zł1.485.
INC'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 zł0.027.
* 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 INC'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 Capital Markets subindustry, INC'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.
INC EV-to-EBITDA vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, INC's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where INC's EV-to-EBITDA falls into.
INC's current Enterprise Value is zł11.40 Mil.
INC'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 zł2.13 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.
INC (WAR:INC) has a EV-to-EBITDA of 5.34 as of Aug. 16, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on INC. This is 1013% above median its historical median of 0.48. According to the industry distribution chart, INC ranks #160 out of 511 companies in the Capital Markets industry, placing it in the top 31.3%.
Is INC's EV-to-EBITDA too high?
INC's current EV-to-EBITDA of 5.34 is 1013% above median its 10-year median of 0.48. The Capital Markets industry median EV-to-EBITDA is 9.35. INC's value of 5.34 is 42.9% below this industry median. Based on the distribution chart, INC ranks #160 out of 511 companies in the Capital Markets industry, which is above the industry midpoint. Overall, INC has a GF Score™ of 50/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does INC's EV-to-EBITDA compare to MS and GS?
According to the Capital Markets industry distribution chart, INC ranks #160 out of 511 companies for EV-to-EBITDA. This puts INC in the upper half of its industry. The industry median EV-to-EBITDA is 9.35. INC's value of 5.34 is 42.9% below this benchmark. While the company's 10-year median is 0.48 vs. the industry median of 9.35, INC 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 Capital Markets company?
The median EV-to-EBITDA among Capital Markets companies is 9.35, based on 511 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. INC's current EV-to-EBITDA of 5.34 is 42.9% 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 INC. For the Capital Markets industry, the median EV-to-EBITDA is 9.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. INC's current EV-to-EBITDA is 5.34, which is 1013% above median its own 10-year median of 0.48. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is INC stock overvalued right now?
Based on GuruFocus' analysis, INC (WAR:INC) is currently considered Possible Value Trap. The stock's GF Value™ is zł3.97, compared to a current price of zł1.49 — trading 62.6% below its estimated fair value. The current EV-to-EBITDA is 5.34, which is 1013% above median its 10-year median of 0.48 and 42.9% below the Capital Markets industry median of 9.35. INC's overall GF Score™ is 50/100 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 INC (WAR:INC), the current EV-to-EBITDA is 5.34 as of Aug. 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 INC (WAR:INC) Overvalued in 2026?
Based on GuruFocus' analysis, INC stock appears to be undervalued.
The current stock price of zł1.49 is trading 62.6% below its estimated GF Value™ of zł3.97.
GuruFocus considers INC to be Possible Value Trap.
Key valuation signals for WAR:INC:
EV-to-EBITDA: 5.34 (1013% above median its 10-year median of 0.48)
GF Value™: zł3.97 vs. price of zł1.49 (62.6% below fair value)
Industry Position: 42.9% below the Capital Markets median (#160 of 511)
No single metric tells the full story. See the WAR:INC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
INC SA operates in the area of investment and advisory services in the Polish capital market. The company supports the development of small and medium-sized enterprises, as well as local government units.
50GF Score
Get the complete analysis for WAR:INC
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
WAR:INC has been successfully added to your 
