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FriendTimes Valuation Multiples

Discover revenue and EBITDA valuation multiples for FriendTimes and similar public comparables like Nazara Technologies, Trophy Games, and OnMobile.

FriendTimes Overview

About FriendTimes

FriendTimes Inc is an online game manufacturer and operator in China. Its game portfolio includes Fate of the Empress, Legend of Empress, Promise of Lingyun, A Story of Lala’s: Rising Star, Twist of the Fate, Ink Sword: Jianghu. It derives revenue from provision of mobile game development and publishing services. Geographically the company operates in Mainland of the PRC and Overeas.


Founded

2018

HQ

Hong Kong
Employees

887

Website

friendtimes.net

Sectors

Gaming - Mobile

Financials

LTM Revenue $186M

LTM EBITDA $10.8M

EV

$129M

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FriendTimes Financials

FriendTimes has a last 12-month revenue (LTM) of $186M and a last 12-month EBITDA of $10.8M.

In the most recent fiscal year, FriendTimes achieved revenue of $148M and an EBITDA of -$0.9M.

FriendTimes expects next 12-month revenue of  XXX    and NTM EBITDA of  XXX

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FriendTimes P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $186M XXX $148M XXX XXX XXX
Gross Profit $186M XXX $104M XXX XXX XXX
Gross Margin 100% XXX 70% XXX XXX XXX
EBITDA $10.8M XXX -$0.9M XXX XXX XXX
EBITDA Margin 6% XXX -1% XXX XXX XXX
EBIT $7.0M XXX -$8.5M XXX XXX XXX
EBIT Margin 4% XXX -6% XXX XXX XXX
Net Profit $4.4M XXX -$6.2M XXX XXX XXX
Net Margin 2% XXX -4% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

FriendTimes Stock Performance

As of May 30, 2025, FriendTimes's stock price is HKD 1 (or $0).

FriendTimes has current market cap of HKD 1.7B (or $217M), and EV of HKD 1.0B (or $129M).

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FriendTimes Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$129M $217M XXX XXX XXX XXX $0.00

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FriendTimes Valuation Multiples

As of May 30, 2025, FriendTimes has market cap of $217M and EV of $129M.

FriendTimes's trades at 0.9x EV/Revenue multiple, and -151.2x EV/EBITDA.

Equity research analysts estimate FriendTimes's 2025E EV/Revenue multiple at  XXX and 2025E EV/EBITDA multiple at  XXX

FriendTimes has a P/E ratio of 53.5x.

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FriendTimes Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $217M XXX $217M XXX XXX XXX
EV (current) $129M XXX $129M XXX XXX XXX
EV/Revenue 0.8x XXX 0.9x XXX XXX XXX
EV/EBITDA 13.0x XXX -151.2x XXX XXX XXX
EV/EBIT 20.1x XXX -15.1x XXX XXX XXX
EV/Gross Profit 0.8x XXX n/a XXX XXX XXX
P/E 53.5x XXX -34.8x XXX XXX XXX
EV/FCF n/a XXX -17.9x XXX XXX XXX

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FriendTimes Margins & Growth Rates

FriendTimes's last 12 month revenue growth is 13%

FriendTimes's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.1M for the same period.

FriendTimes's rule of 40 is 9% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

FriendTimes's rule of X is 39% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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FriendTimes Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 13% XXX 16% XXX XXX XXX
EBITDA Margin 6% XXX -1% XXX XXX XXX
EBITDA Growth 166% XXX n/a XXX XXX XXX
Rule of 40 9% XXX 13% XXX XXX XXX
Bessemer Rule of X XXX XXX 39% XXX XXX XXX
Revenue per Employee XXX XXX $0.2M XXX XXX XXX
Opex per Employee XXX XXX $0.1M XXX XXX XXX
S&M Expenses to Revenue XXX XXX 48% XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX 25% XXX XXX XXX
Opex to Revenue XXX XXX 76% XXX XXX XXX

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FriendTimes Public Comps

See public comps and valuation multiples for Gaming - Mobile comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Azerion Group XXX XXX XXX XXX XXX XXX
PlaySide Studios XXX XXX XXX XXX XXX XXX
OnMobile XXX XXX XXX XXX XXX XXX
Nazara Technologies XXX XXX XXX XXX XXX XXX
Trophy Games XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

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FriendTimes M&A and Investment Activity

FriendTimes acquired  XXX companies to date.

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

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Latest Acquisitions by FriendTimes

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 FriendTimes

When was FriendTimes founded? FriendTimes was founded in 2018.
Where is FriendTimes headquartered? FriendTimes is headquartered in Hong Kong.
How many employees does FriendTimes have? As of today, FriendTimes has 887 employees.
Is FriendTimes publicy listed? Yes, FriendTimes is a public company listed on HKG.
What is the stock symbol of FriendTimes? FriendTimes trades under 06820 ticker.
When did FriendTimes go public? FriendTimes went public in 2019.
Who are competitors of FriendTimes? Similar companies to FriendTimes include e.g. Azerion Group, PlaySide Studios, OnMobile, Nazara Technologies.
What is the current market cap of FriendTimes? FriendTimes's current market cap is $217M
What is the current revenue of FriendTimes? FriendTimes's last 12 months revenue is $186M.
What is the current revenue growth of FriendTimes? FriendTimes revenue growth (NTM/LTM) is 13%.
What is the current EV/Revenue multiple of FriendTimes? Current revenue multiple of FriendTimes is 0.8x.
Is FriendTimes profitable? Yes, FriendTimes is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of FriendTimes? FriendTimes's last 12 months EBITDA is $10.8M.
What is FriendTimes's EBITDA margin? FriendTimes's last 12 months EBITDA margin is 6%.
What is the current EV/EBITDA multiple of FriendTimes? Current EBITDA multiple of FriendTimes is 13.0x.

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