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f-code Valuation Multiples

Discover revenue and EBITDA valuation multiples for f-code and similar public comparables like Global Traffic Network, Enero Group, and IVE Group.

f-code Overview

About f-code

f-code Inc is engaged in providing comprehensive consulting services in digital marketing.


Founded

2006

HQ

Japan
Employees

n/a

Website

f-code.co.jp

Financials

LTM Revenue $45.1M

LTM EBITDA n/a

EV

$152M

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f-code Financials

f-code has a last 12-month revenue of $45.1M and a last 12-month EBITDA of n/a.

In the most recent fiscal year, f-code achieved revenue of $34.1M and an EBITDA of $10.1M.

f-code expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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f-code P&L

FY 2023 FY 2024 FY 2025 LTM NTM
Revenue $16.5M $34.1M XXX XXX XXX
Gross Profit $4.1M $9.8M XXX XXX XXX
Gross Margin 25% 29% XXX XXX XXX
EBITDA $4.8M $10.1M XXX XXX XXX
EBITDA Margin 29% 30% XXX XXX XXX
Net Profit $1.3M $3.2M XXX XXX XXX
Net Margin 8% 9% XXX XXX XXX
Net Debt $6.1M $10.0M XXX XXX XXX

Financial data powered by Morningstar, Inc.

f-code Stock Performance

As of April 15, 2025, f-code's stock price is JPY 1749 (or $12).

f-code has current market cap of JPY 21.6B (or $143M), and EV of JPY 22.8B (or $152M).

See f-code trading valuation data

f-code Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$152M $143M XXX XXX XXX XXX $0.57

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f-code Valuation Multiples

As of April 15, 2025, f-code has market cap of $143M and EV of $152M.

f-code's trades at 3.4x LTM EV/Revenue multiple, and n/a LTM EBITDA.

Analysts estimate f-code's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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f-code Financial Valuation Multiples

FY 2024 FY 2025E FY 2026E FY 2027E
EV $152M XXX XXX XXX
EV/Revenue 4.4x XXX XXX XXX
EV/EBITDA 14.9x XXX XXX XXX
P/E 23.8x XXX XXX XXX
P/E/Growth 0.4x XXX XXX XXX
EV/FCF 27.9x XXX XXX XXX

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f-code Valuation Multiples

f-code's NTM/LTM revenue growth is 70%

f-code's revenue per employee for the last fiscal year averaged n/a, while opex per employee averaged n/a for the same period.

Over next 12 months, f-code's ratio of sales and marketing spend to revenue is estimated to be  XXX , while its R&D spend to revenue to be  XXX .

Analysts estimate f-code's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

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f-code Operational Valuation Multiples

FY 2024 NTM FY 2025E FY 2026E FY 2027E
Revenue Growth 107% XXX XXX XXX XXX
EBITDA Margin 30% XXX XXX XXX XXX
EBITDA Growth 112% XXX XXX XXX XXX
Rule of 40 (SaaS-only) 100% XXX XXX XXX XXX
Revenue per Employee n/a XXX XXX XXX XXX
Opex per Employee n/a XXX XXX XXX XXX
S&M Expenses to Revenue n/a XXX XXX XXX XXX
G&A Expenses to Revenue 33% XXX XXX XXX XXX
R&D Expenses to Revenue n/a XXX XXX XXX XXX
Opex to Revenue 27% XXX XXX XXX XXX

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f-code Public Comps

See public comps and valuation multiples for Advertising & Marketing comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Havas XXX XXX XXX XXX XXX XXX
ACCESS Newswire XXX XXX XXX XXX XXX XXX
Enero Group XXX XXX XXX XXX XXX XXX
Global Traffic Network XXX XXX XXX XXX XXX XXX
IVE Group XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

f-code M&A and Investment Activity

f-code acquired  XXX companies to date.

Last acquisition by f-code was  XXXXXXXX, XXXXX XXXXX XXXXXX . f-code acquired  XXXXXXXX for  XXX (EV/Revenue multiple of  XXX ).

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Latest Acquisitions by f-code

Acquired Company EV EV/Revenue EV/EBITDA
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX
XXXXXXXXX XXX XXX XXX

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About f-code

When was f-code founded? f-code was founded in 2006.
Where is f-code headquartered? f-code is headquartered in Japan.
Is f-code publicy listed? Yes, f-code is a public company listed on TKS.
What is the stock symbol of f-code? f-code trades under 9211 ticker.
When did f-code go public? f-code went public in 2021.
Who are competitors of f-code? Similar companies to f-code include e.g. Havas, ACCESS Newswire, Enero Group, Global Traffic Network.
What is the current market cap of f-code? f-code's current market cap is $143M
What is the current revenue of f-code? f-code's last 12-month revenue is $45.1M.
What is the current EV/Revenue multiple of f-code? Current revenue multiple of f-code is 3.4x.
What is the current revenue growth of f-code? f-code revenue growth between 2023 and 2024 was 107%.
Is f-code profitable? Yes, f-code is EBITDA-positive (as of the last 12 months).

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