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Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company. The details of how we calculate the intrinsic value of stocks are described in detail here.
The historical rank and industry rank for Japan Exchange Group's Intrinsic Value: Projected FCF or its related term are showing as below:
FRA:OSK'
s Price-to-Projected-FCF Range Over the Past 10 Years
Min: 1.46 Med: 1.78 Max: 3.32
Current: 3.3
During the past 13 years, the highest Price-to-Intrinsic-Value-Projected-FCF of Japan Exchange Group was 3.32. The lowest was 1.46. And the median was 1.78.
FRA:OSK's Price-to-Projected-FCF is ranked worse than 83.01% of 512
companies
in the Capital Markets industry
Industry Median: 1.035
vs FRA:OSK: 3.30
Japan Exchange Group (FRA:OSK) Intrinsic Value: Projected FCF Explanation
The growth multiple is capped between 8.35 and 17.74.
Total Stockholders Equity weighting is more art than science and it should always be revisited in more detail when researching a company. Weightings from 0% to 100% to more than 100% are possible. 80% was chosen as a happy median after taking the above ideas into consideration.
Japan Exchange Group's Price-to-Intrinsic-Value-Projected-FCF for today is calculated as
Price-to-Intrinsic-Value-Projected-FCF
=
Share Price
/
Intrinsic Value: Projected FCF
=
12.20
/
0.34255783124746
=
35.61
* 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.
Japan Exchange Group Intrinsic Value: Projected FCF Related Terms
Japan Exchange Group Intrinsic Value: Projected FCF Historical Data
* Premium members only.
The historical data trend for Japan Exchange Group's Intrinsic Value: Projected 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.
Japan Exchange Group Intrinsic Value: Projected FCF Chart
FRA:OSK vs SPGI, CME, ICE: Intrinsic Value: Projected FCF Comparison
For the Financial Data & Stock Exchanges subindustry, Japan Exchange Group's Price-to-Projected-FCF, along with its competitors' market caps and Price-to-Projected-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.
Japan Exchange Group Price-to-Projected-FCF vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Japan Exchange Group's Price-to-Projected-FCF distribution charts can be found below:
* The bar in red indicates where Japan Exchange Group's Price-to-Projected-FCF falls into.
Japan Exchange Group Intrinsic Value: Projected FCF Calculation
Since the intrinsic value calculations based on Discounted Cash Flow Intrinsic Value: DCF (FCF Based), or Discounted Earnings Intrinsic Value: DCF (Earnings Based) cannot be applied to companies without consistent revenue and earnings, GuruFocus developed a valuation model based on normalized Free Cash Flow and Book Value of the company.
The details of how we calculate the intrinsic value of stocks are described in detail here.
This method smooths out the free cash flow over the past 6-7 years, multiplies the results by a growth multiple, and adds a portion of Total Stockholders Equity.
* 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.
What does a Intrinsic Value: Projected FCF of €3.70 mean?
Japan Exchange Group (FRA:OSK) has a Intrinsic Value: Projected FCF of €3.70 as of Sep. 09, 2026. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Japan Exchange Group and its competitors. According to the industry distribution chart, Japan Exchange Group ranks #425 out of 512 companies in the Capital Markets industry, placing it in the top 83%.
Is Japan Exchange Group's Intrinsic Value: Projected FCF too high?
Japan Exchange Group's current Intrinsic Value: Projected FCF is €3.70. Based on the distribution chart, Japan Exchange Group ranks #425 out of 512 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Japan Exchange Group has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Japan Exchange Group's Intrinsic Value: Projected FCF compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Japan Exchange Group ranks #425 out of 512 companies for Intrinsic Value: Projected FCF. This places Japan Exchange Group in the lower half of its industry. The industry median Intrinsic Value: Projected FCF is 1.04. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Intrinsic Value: Projected FCF for a Capital Markets company?
The median Intrinsic Value: Projected FCF among Capital Markets companies is 1.04, based on 512 companies in the industry. Companies in the top quartile (top 25%) have a Intrinsic Value: Projected FCF significantly above this median, while those in the bottom quartile fall well below. However, Intrinsic Value: Projected FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Intrinsic Value: Projected FCF mean?
A high Intrinsic Value: Projected FCF can signal that a stock is expensive relative to its fundamentals. Intrinsic Value: Projected FCF is the stock value based on a projected free cash flow model. View historical data on Japan Exchange Group and its competitors. For the Capital Markets industry, the median Intrinsic Value: Projected FCF is 1.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Exchange Group's current Intrinsic Value: Projected FCF is €3.70. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Exchange Group stock overvalued right now?
Based on GuruFocus' analysis, Japan Exchange Group (FRA:OSK) is currently considered Fairly Valued. The stock's GF Value™ is €11.46, compared to a current price of €12.20 — trading 6.5% above its estimated fair value. The current Intrinsic Value: Projected FCF is €3.70. Japan Exchange Group's overall GF Score™ is 89/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Intrinsic Value: Projected FCF calculated?
Intrinsic Value: Projected FCF is calculated from a company's financial statements. For Japan Exchange Group (FRA:OSK), the current Intrinsic Value: Projected FCF is €3.70 as of Sep. 09, 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 Japan Exchange Group (FRA:OSK) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Exchange Group stock appears to be overvalued.
The current stock price of €12.20 is trading 6.5% above its estimated GF Value™ of €11.46.
GuruFocus considers Japan Exchange Group to be Fairly Valued.
Key valuation signals for FRA:OSK:
Intrinsic Value: Projected FCF: €3.70
GF Value™: €11.46 vs. price of €12.20 (6.5% above fair value)
No single metric tells the full story. See the FRA:OSK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Exchange Group is a vertically integrated securities exchange business, which includes the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange. JPX ranks among the top five largest stock exchange operators in the world by market capitalization, and its Nikkei 225 and Topix derivatives products are some of the most widely traded derivatives products in the world.
89GF Score
Get the complete analysis for FRA:OSK
Intrinsic Value: Projected FCF is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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