f-code (TSE:9211) EV-to-FCF: (As of Jul. 14, 2026)

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Vera Yuan
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Director of Data and Quant Analytics at GuruFocus
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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:9211 f-code Inc TSE:9211
77 GF Score
Price 円1,398.00
GF Value 円5,420.44
Valuation Possible Value Trap
! 5 Warning Signs
View Full Analysis

What is f-code EV-to-FCF?

EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, f-code's Enterprise Value is 円21,848 Mil. f-code's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 was 円0 Mil. Therefore, f-code's EV-to-FCF for today is .

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

TSE:9211' s EV-to-FCF Range Over the Past 10 Years
Min: 13.05   Med: 31.38   Max: 326.56
Current: 20.43

During the past 7 years, the highest EV-to-FCF of f-code was 326.56. The lowest was 13.05. And the median was 31.38.

TSE:9211's EV-to-FCF is ranked worse than
66.72% of 610 companies
in the Media - Diversified industry
Industry Median: 11.53 vs TSE:9211: 20.43

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 (2026-07-14), f-code's stock price is 円1398.00. f-code's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 was 円60.450. Therefore, f-code's PE Ratio (TTM) for today is 23.13.


f-code  (TSE:9211) 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.

f-code's PE Ratio (TTM) for today is calculated as:

PE Ratio (TTM)=Share Price (Today)/Earnings per Share (Diluted) (TTM)
=1398.00/60.450
=23.13

f-code's share price for today is 円1398.00.
f-code's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was 円60.450.

* 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.


f-code EV-to-FCF Related Terms


f-code EV-to-FCF Historical Data

* Premium members only.

The historical data trend for f-code'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.

f-code EV-to-FCF Chart

f-code Annual Data
Trend Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-FCF
Get a 7-Day Free Trial 214.43 129.97 16.00 19.94 20.11

f-code Quarterly Data
Dec19 Dec20 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 137.95 0.00 0.00 20.11 0.00

TSE:9211 vs APP, OMC, TTD: EV-to-FCF Comparison

For the Advertising Agencies subindustry, f-code'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.


f-code EV-to-FCF vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, f-code's EV-to-FCF distribution charts can be found below:

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


TSE:9211
77GF Score
f-code Inc TSE:9211
EV-to-FCF is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

f-code EV-to-FCF Calculation

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

EV-to-FCF=Enterprise Value (Today)/Free Cash Flow (TTM)
=21847.647/0
=

f-code's current Enterprise Value is 円21,848 Mil.
f-code's Free Cash Flow for the trailing twelve months (TTM) ended in Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was 円0 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 f-code (TSE:9211) Overvalued in 2026?

Based on GuruFocus' analysis, f-code stock appears to be undervalued. The current stock price of 円1,398.00 is trading 74.2% below its estimated GF Value™ of 円5,420.44. GuruFocus considers f-code to be Possible Value Trap.

Key valuation signals for TSE:9211:

  • EV-to-FCF:
  • GF Value™: 円5,420.44 vs. price of 円1,398.00 (74.2% below fair value)
  • GF Score™: 77/100 with 5 warning signs

No single metric tells the full story. See the TSE:9211 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


f-code Business Description

Address 1-1 Kagurazaka, 2nd Floor, Kagurazaka Sotobori Dori Building, Shinjuku-ku, Tokyo, JPN, 162-0825
f-code Inc is engaged in providing comprehensive consulting services in digital marketing.
77GF Score

Get the complete analysis for TSE:9211

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

円1,398.00
Price
円5,420.44
GF Value