Heiwa Paper CoTSE:9929 +0.86%70 EV-to-FCF is 7.74 as of Jul. 11, 2026, which is 33% below its 10-year median of 11.57. GuruFocus rates TSE:9929 with a GF Score™ of 70/100 and a GF Value™ of 円437.78 (Fairly Valued). The stock has 5 warning signs investors should review. Among 144 Forest Products companies, Heiwa Paper Co ranks better than 77.78% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Heiwa Paper Co's Enterprise Value is 円3,930 Mil.
Heiwa Paper Co's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was 円508 Mil. Therefore, Heiwa Paper Co's EV-to-FCF for today is 7.74.
The historical rank and industry rank for Heiwa Paper Co's EV-to-FCF or its related term are showing as below:
TSE:9929'
s EV-to-FCF Range Over the Past 10 Years
Min: -16.71 Med: 11.57 Max: 72.99
Current: 7.72
During the past 13 years, the highest EV-to-FCF of Heiwa Paper Co was 72.99. The lowest was -16.71. And the median was 11.57.
TSE:9929's EV-to-FCF is ranked better than 77.78% of 144
companies
in the Forest Products industry
Industry Median: 15.59
vs TSE:9929: 7.72
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.
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.
Heiwa Paper Co's PE Ratio (TTM) for today is calculated as:
Heiwa Paper Co's share price for today is 円467.00.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Heiwa Paper Co's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was 円8.380.
* 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.
Heiwa Paper Co EV-to-FCF Related Terms
Heiwa Paper Co EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Heiwa Paper Co'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.
For the Paper & Paper Products subindustry, Heiwa Paper Co'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.
Heiwa Paper Co EV-to-FCF vs Forest Products Industry
For the Forest Products industry and Basic Materials sector, Heiwa Paper Co's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Heiwa Paper Co's EV-to-FCF falls into.
Heiwa Paper Co's current Enterprise Value is 円3,930 Mil.
For company reported semi-annually, GuruFocus uses latest annual data as the TTM data. Heiwa Paper Co's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was 円508 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.
Heiwa Paper Co (TSE:9929) has a EV-to-FCF of 7.74 as of Jul. 11, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Heiwa Paper Co and its competitors. This is 33% below median its historical median of 11.57. According to the industry distribution chart, Heiwa Paper Co ranks #32 out of 144 companies in the Forest Products industry, placing it in the top 22.2%.
Is Heiwa Paper Co's EV-to-FCF too high?
Heiwa Paper Co's current EV-to-FCF of 7.74 is 33% below median its 10-year median of 11.57. The Forest Products industry median EV-to-FCF is 15.59. Heiwa Paper Co's value of 7.74 is 50.4% below this industry median. Based on the distribution chart, Heiwa Paper Co ranks #32 out of 144 companies in the Forest Products industry, which is in the top quartile — a strong position relative to peers. Overall, Heiwa Paper Co has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Heiwa Paper Co's EV-to-FCF compare to competitors?
According to the Forest Products industry distribution chart, Heiwa Paper Co ranks #32 out of 144 companies for EV-to-FCF. This places Heiwa Paper Co in the top 22% of its industry — outperforming the majority of peers. The industry median EV-to-FCF is 15.59. Heiwa Paper Co's value of 7.74 is 50.4% below this benchmark. While the company's 10-year median is 11.57 vs. the industry median of 15.59, Heiwa Paper 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-FCF for a Forest Products company?
The median EV-to-FCF among Forest Products companies is 15.59, based on 144 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heiwa Paper Co's current EV-to-FCF of 7.74 is 50.4% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Heiwa Paper Co and its competitors. For the Forest Products industry, the median EV-to-FCF is 15.59 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heiwa Paper Co's current EV-to-FCF is 7.74, which is 33% below median its own 10-year median of 11.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heiwa Paper Co stock overvalued right now?
Based on GuruFocus' analysis, Heiwa Paper Co (TSE:9929) is currently considered Fairly Valued. The stock's GF Value™ is 円437.78, compared to a current price of 円467.00 — trading 6.7% above its estimated fair value. The current EV-to-FCF is 7.74, which is 33% below median its 10-year median of 11.57 and 50.4% below the Forest Products industry median of 15.59. Heiwa Paper Co's overall GF Score™ is 70/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Heiwa Paper Co (TSE:9929), the current EV-to-FCF is 7.74 as of Jul. 11, 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 Heiwa Paper Co (TSE:9929) Overvalued in 2026?
Based on GuruFocus' analysis, Heiwa Paper Co stock appears to be overvalued.
The current stock price of 円467.00 is trading 6.7% above its estimated GF Value™ of 円437.78.
GuruFocus considers Heiwa Paper Co to be Fairly Valued.
Key valuation signals for TSE:9929:
EV-to-FCF: 7.74 (33% below median its 10-year median of 11.57)
GF Value™: 円437.78 vs. price of 円467.00 (6.7% above fair value)
Industry Position: 50.4% below the Forest Products median (#32 of 144)
No single metric tells the full story. See the TSE:9929 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heiwa Paper Co Ltd develops, sells, exports and imports specialty papers, high-grade papers, industrial papers, and other paper materials. It also develops and commercializes new paper products. The company's product profile includes Exo Raxa, TANT, Deep Mat, Gokanshi, Cotton Life S, Satogami, Bunpel, SS-Soft, Mandala, Snow Petal, Kishu Rainbow, and others.
70GF Score
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