f-code Inc.

9211 TSE Industrials Services
TSE Growth
¥1,394.00
-2.99%
Delayed · cached 15 min

Fair value analysis

9211
f-code Inc.
IndustrialsServices
¥1,394.00
Close used for this calculation
¥2,136.72Fair value
Financial DNA Score
Profitability · Returns · Balance Sheet · Efficiency · Growth
73/100
Profitability21/25
Returns21/25
Balance Sheet13/25
Efficiency18/25
Growth20/25
Strong
Quality radar
73Prof.21/25Ret.21/25Eff.18/25B.Sht13/25Growth20/25

Consensus fair value

¥2,136.72
Below FV
▲ +53.3% against the close used
Model range ¥1,064.36 – ¥3,554.10
The lowest and highest of the models that produced a value. This is the spread of the methods, not a price target.

Price target range & 52-week position

Bear¥1,064.36Fair value¥2,136.72Bull¥3,554.10
FairClose
52-week traded range
52W low ¥1,298.0052W high ¥2,223.00

The 52-week range is measured from the stored price history, not estimated.

Valuation summary

Trading below the consensus fair value

f-code Inc. closed at ¥1,394.00, 34.8% below the consensus fair value of ¥2,136.72 drawn from 8 valuation models.

Financial DNA score 73/100 — Strong. P/E of 11.8x against the 20x sector multiple the P/E model uses.

Quantitative summary only — not investment advice.

All valuation models

DCF Valuation
¥1,874.65
+34.5%
Σ[CF×(1+g)^n/(1.10)^n] + TV/(1.10)^10
g=9%, r=10%, tg=3%, n=10yr
Graham Number
¥1,064.36
-23.6%
√(22.5 × EPS × BVPS)
EPS=118.47, BVPS=425 · outside Graham range (P/E 11.8, P/B 3.3) — asset-light, treat as a rough floor
P/E Fair Value
¥2,369.40
+70.0%
EPS × 20x (sector P/E)
EPS=118.47, Sector P/E=20x
Peter Lynch (PEG)
¥3,554.10
+155.0%
EPS × Growth% (PEG = 1 is fair)
EPS=118.47, g=30%
EV/EBITDA
¥2,658.80
+90.7%
(EBITDA × 18x − Net Debt) ÷ Shares
EBITDA=2.52B
Book Value (P/B)
¥1,530.00
+9.8%
BVPS × (ROE−g)÷(r−g) [Justified P/B — RIM-based]
BVPS=425, ROE=20.4%, g=6%, r=10%
Reverse DCF
¥1,394.00
+0.0%
Solve for g: Price = Σ[EPS×(1+g)^n/(1.10)^n] + TV
Implied: -0.1% | Historical: 75.7%
Margin of Safety
¥1,327.10
-4.8%
Avg(DCF, Graham, P/E) × 75% (25% safety buffer)
Avg fair value=1769.47, MoS=25%

Computed on September 12, 2026 from the most recent annual report on file and that day's closing price. Where a company has seen its earnings move sharply since its last annual report, this figure will lag the market.

Educational data only. Not a recommendation to buy, sell or hold any security.

Educational data only. Not a recommendation to buy, sell or hold any security.