CRI Middleware Co (TSE:3698) EV-to-EBITDA: 5.13 (As of Sep. 02, 2026) — 75% Below 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.

TSE:3698 CRI Middleware Co Ltd TSE:3698
97 GF Score
Price 円1,237.00
GF Value 円1,175.96
Valuation Fairly Valued
View Full Analysis

What is CRI Middleware Co EV-to-EBITDA?

CRI Middleware Co TSE:3698 97 EV-to-EBITDA is 5.13 as of Sep. 02, 2026, which is 75% below its 10-year median of 20.57. GuruFocus rates TSE:3698 with a GF Score™ of 97/100 and a GF Value™ of 円1,175.96 (Fairly Valued). Among 372 Interactive Media companies, CRI Middleware Co ranks better than 62.63% on this metric.

EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, CRI Middleware Co's enterprise value is 円3,373 Mil. CRI Middleware Co's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was 円657 Mil. Therefore, CRI Middleware Co's EV-to-EBITDA for today is 5.13.

The historical rank and industry rank for CRI Middleware Co's EV-to-EBITDA or its related term are showing as below:

TSE:3698' s EV-to-EBITDA Range Over the Past 10 Years
Min: 2.17   Med: 20.57   Max: 84.64
Current: 5.14

During the past 13 years, the highest EV-to-EBITDA of CRI Middleware Co was 84.64. The lowest was 2.17. And the median was 20.57.

TSE:3698's EV-to-EBITDA is ranked better than
62.63% of 372 companies
in the Interactive Media industry
Industry Median: 7.06 vs TSE:3698: 5.14

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 (2026-09-02), CRI Middleware Co's stock price is 円1237.00. CRI Middleware Co's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was 円73.970. Therefore, CRI Middleware Co's PE Ratio (TTM) for today is 16.72.

The "classic" EV-to-EBITDA is much better in capturing debt and net cash than the PE Ratio (TTM).


CRI Middleware Co  (TSE:3698) 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.

CRI Middleware Co's PE Ratio (TTM) for today is calculated as:

PE Ratio (TTM)=Share Price (Today)/Earnings per Share (Diluted) (TTM)
=1237.00/73.970
=16.72

CRI Middleware Co's share price for today is 円1237.00.
CRI Middleware Co'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 円73.970.

* 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).

Please read Which price ratio outperforms the enterprise multiple?


CRI Middleware Co EV-to-EBITDA Related Terms


CRI Middleware Co EV-to-EBITDA Historical Data

* Premium members only.

The historical data trend for CRI Middleware Co'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.

CRI Middleware Co EV-to-EBITDA Chart

CRI Middleware Co Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
EV-to-EBITDA
Get a 7-Day Free Trial Premium Member Only Premium Member Only 12.97 11.72 6.20 2.46 6.15

CRI Middleware Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
EV-to-EBITDA Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 10.36 6.15 11.09 3.54 0.00

TSE:3698 vs NTES, TTWO, RBLX: EV-to-EBITDA Comparison

For the Electronic Gaming & Multimedia subindustry, CRI Middleware Co'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.


CRI Middleware Co EV-to-EBITDA vs Interactive Media Industry

For the Interactive Media industry and Communication Services sector, CRI Middleware Co's EV-to-EBITDA distribution charts can be found below:

* The bar in red indicates where CRI Middleware Co's EV-to-EBITDA falls into.


TSE:3698
97GF Score
CRI Middleware Co Ltd TSE:3698
EV-to-EBITDA is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CRI Middleware Co EV-to-EBITDA Calculation

CRI Middleware Co's EV-to-EBITDA for today is calculated as:

EV-to-EBITDA=Enterprise Value (Today)/EBITDA (TTM)
=3372.609/656.817
=5.13

CRI Middleware Co's current Enterprise Value is 円3,373 Mil.
CRI Middleware Co'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 円657 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-EBITDA →
What does a EV-to-EBITDA of 5.13 mean?
CRI Middleware Co (TSE:3698) has a EV-to-EBITDA of 5.13 as of Sep. 02, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on CRI Middleware Co. This is 75% below median its historical median of 20.57. Over the past decade, CRI Middleware Co's EV-to-EBITDA has ranged from 2.17 to 84.64. According to the industry distribution chart, CRI Middleware Co ranks #139 out of 372 companies in the Interactive Media industry, placing it in the top 37.4%.
Is CRI Middleware Co's EV-to-EBITDA too high?
CRI Middleware Co's current EV-to-EBITDA of 5.13 is 75% below median its 10-year median of 20.57. Over the past 10 years, this metric has ranged from a low of 2.17 to a high of 84.64. The Interactive Media industry median EV-to-EBITDA is 7.06. CRI Middleware Co's value of 5.13 is 27.3% below this industry median. Based on the distribution chart, CRI Middleware Co ranks #139 out of 372 companies in the Interactive Media industry, which is above the industry midpoint. Overall, CRI Middleware Co has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does CRI Middleware Co's EV-to-EBITDA compare to NTES and TTWO?
According to the Interactive Media industry distribution chart, CRI Middleware Co ranks #139 out of 372 companies for EV-to-EBITDA. This puts CRI Middleware Co in the upper half of its industry. The industry median EV-to-EBITDA is 7.06. CRI Middleware Co's value of 5.13 is 27.3% below this benchmark. Historically, CRI Middleware Co's own EV-to-EBITDA has ranged from 2.17 to 84.64 over the past decade. While the company's 10-year median is 20.57 vs. the industry median of 7.06, CRI Middleware Co 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 an Interactive Media company?
The median EV-to-EBITDA among Interactive Media companies is 7.06, based on 372 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. CRI Middleware Co's current EV-to-EBITDA of 5.13 is 27.3% 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 CRI Middleware Co. For the Interactive Media industry, the median EV-to-EBITDA is 7.06 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CRI Middleware Co's current EV-to-EBITDA is 5.13, which is 75% below median its own 10-year median of 20.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CRI Middleware Co stock overvalued right now?
Based on GuruFocus' analysis, CRI Middleware Co (TSE:3698) is currently considered Fairly Valued. The stock's GF Value™ is 円1,175.96, compared to a current price of 円1,237.00 — trading 5.2% above its estimated fair value. The current EV-to-EBITDA is 5.13, which is 75% below median its 10-year median of 20.57 and 27.3% below the Interactive Media industry median of 7.06. CRI Middleware Co's overall GF Score™ is 97/100. 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 CRI Middleware Co (TSE:3698), the current EV-to-EBITDA is 5.13 as of Sep. 02, 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 CRI Middleware Co (TSE:3698) Overvalued in 2026?

Based on GuruFocus' analysis, CRI Middleware Co stock appears to be overvalued. The current stock price of 円1,237.00 is trading 5.2% above its estimated GF Value™ of 円1,175.96. GuruFocus considers CRI Middleware Co to be Fairly Valued.

Key valuation signals for TSE:3698:

  • EV-to-EBITDA: 5.13 (75% below median its 10-year median of 20.57)
  • GF Value™: 円1,175.96 vs. price of 円1,237.00 (5.2% above fair value)
  • GF Score™: 97/100
  • Industry Position: 27.3% below the Interactive Media median (#139 of 372)

No single metric tells the full story. See the TSE:3698 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


CRI Middleware Co Business Description

Address 20-1 Sakuragaoka-cho, 11th Floor, Shibuya Info Tower, Shibuya-ku, Tokyo, JPN, 150-0031
CRI Middleware Co Ltd is a provider of audio and video solutions for the gaming industry. It is engaged in the research and development of voice, video and file systems. Further, it also provides sales and support of middleware products. Geographically, the activities are carried out through the region of Japan.
97GF Score

Get the complete analysis for TSE:3698

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

円1,237.00
Price
円1,175.96
GF Value