The9 (FRA:FZK0) EV-to-FCF: (As of Jul. 27, 2026)

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.

FRA:FZK0 The9 Ltd FRA:FZK0
50 GF Score
Price €3.02
GF Value €2.39
! 8 Warning Signs
View Full Analysis

What is The9 EV-to-FCF?

EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, The9's Enterprise Value is €65.48 Mil. The9's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €0.00 Mil. Therefore, The9's EV-to-FCF for today is .

The historical rank and industry rank for The9's EV-to-FCF or its related term are showing as below:

FRA:FZK0' s EV-to-FCF Range Over the Past 10 Years
Min: -27.18   Med: -2.76   Max: 0.44
Current: -11.42

During the past 13 years, the highest EV-to-FCF of The9 was 0.44. The lowest was -27.18. And the median was -2.76.

FRA:FZK0's EV-to-FCF is ranked worse than
100% of 443 companies
in the Capital Markets industry
Industry Median: 10.31 vs FRA:FZK0: -11.42

EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.

As of today (2026-07-27), The9's stock price is €3.02. The9's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €-6.542. Therefore, The9's PE Ratio (TTM) for today is At Loss.


The9  (FRA:FZK0) EV-to-FCF Explanation

EV-to-FCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. 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.

The9's PE Ratio (TTM) for today is calculated as:

PE Ratio (TTM)=Share Price (Today)/Earnings per Share (Diluted) (TTM)
=3.02/-6.542
=At Loss

The9's share price for today is €3.02.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. The9's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was €-6.542.

* 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.

Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.


The9 EV-to-FCF Related Terms


The9 EV-to-FCF Historical Data

* Premium members only.

The historical data trend for The9's EV-to-FCF 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.

The9 EV-to-FCF Chart

The9 Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-FCF
Get a 7-Day Free Trial Premium Member Only Premium Member Only -0.82 -0.28 -5.27 -23.02 -19.17

The9 Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
EV-to-FCF 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 -5.27 0.00 -23.02 0.00 -19.17

FRA:FZK0 vs BTCS, PLUT, VIP: EV-to-FCF Comparison

For the Capital Markets subindustry, The9's EV-to-FCF, along with its competitors' market caps and EV-to-FCF 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.


The9 EV-to-FCF vs Capital Markets Industry

For the Capital Markets industry and Financial Services sector, The9's EV-to-FCF distribution charts can be found below:

* The bar in red indicates where The9's EV-to-FCF falls into.


FRA:FZK0
50GF Score
The9 Ltd FRA:FZK0
EV-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

The9 EV-to-FCF Calculation

The9's EV-to-FCF for today is calculated as:

EV-to-FCF=Enterprise Value (Today)/Free Cash Flow (TTM)
=65.475/0
=

The9's current Enterprise Value is €65.48 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. The9's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was €0.00 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.

Is The9 (FRA:FZK0) Overvalued in 2026?

Based on GuruFocus' analysis, The9 stock appears to be overvalued. The current stock price of €3.02 is trading 26.4% above its estimated GF Value™ of €2.39.

Key valuation signals for FRA:FZK0:

  • EV-to-FCF:
  • GF Value™: €2.39 vs. price of €3.02 (26.4% above fair value)
  • GF Score™: 50/100 with 8 warning signs

No single metric tells the full story. See the FRA:FZK0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


The9 Business Description

Other Exchanges NCTY:USA
Address No.130 Wu Song Road, 17 Floor, Hong Kou District, Shanghai, CHN, 200080
The9 Ltd operates a cryptocurrency mining business. It provides computing power, or hash rate, to a Bitcoin mining pool and is entitled to receive a fractional share of Bitcoin award from the Bitcoin mining pool in return. The company generates its revenues from customers in Greater China, Asia/Eastern Europe, and North America. Its segments are: Crypto mining business, and Online game services, out of which Crypto mining business derives maximum revenue.
50GF Score

Get the complete analysis for FRA:FZK0

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

€3.02
Price
€2.39
GF Value