f-code Inc. AI Stock Analysis
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f-code Inc. (9211) AI Stock Analysis
f-code Inc.
(TSE/TYO:9211)
The score is driven mainly by solid financial performance (profitability, cash conversion, and strong 2025 growth) but is held back by higher balance-sheet leverage and 2025 margin compression. Technicals are a significant drag due to a clear downtrend and weak momentum, while valuation is a partial offset with a low P/E.
f-code Inc. (9211) vs. iShares MSCI Japan ETF (EWJ)
- Market Cap
- JPY 13.89B
- Dividend Yield
- ―
- Average Volume (3M)
- 150.89K
- Price to Earnings (P/E)
- 8.3
- Beta (1Y)
- 1.23
- Revenue Growth
- 80.07%
- EPS Growth
- 40.93%
- Country
- Japan
- Employees
- 489
- Sector
- Communication Services
- Sector Strength
- 60
- Industry
- Advertising Agencies
f-code Inc. Business Overview & Revenue Model
Company Description
Headquartered in Tokyo, Japan, f-Code Inc. specializes in providing digital services to businesses throughout the country, focusing on customer acquisition and development. A core offering is their CODE marketing cloud, a Software-as-a-Service (SaaS)...
How the Company Makes Money
f-code’s revenues are generated primarily by providing digital marketing/CX-related products and services to client companies. This typically includes fees for the use of its web-based tools (e.g., software/solutions used to improve on-site engagemen...
f-code Inc. Financial Statement Overview
Summary
Fundamentals are profitable and cash-generative, with strong 2025 revenue growth and solid gross/operating margins. However, higher leverage (rising debt and debt-to-equity ~1.76) and clear margin compression in 2025 reduce the overall quality/risk profile.
Income Statement
78PositiveBalance Sheet
57NeutralCash Flow
64Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 14.93B | 11.94B | 5.13B | 2.48B | 1.07B | 660.57M |
| Gross Profit | 8.88B | 7.13B | 2.75B | 1.40B | 593.29M | 402.83M |
| EBITDA | 2.64B | 2.11B | 1.24B | 711.17M | 172.44M | 163.69M |
| Net Income | 1.67B | 1.45B | 905.74M | 479.70M | 69.35M | 152.31M |
Balance Sheet | ||||||
| Total Assets | 30.09B | 26.45B | 21.82B | 10.98B | 3.28B | 843.31M |
| Cash, Cash Equivalents and Short-Term Investments | 9.41B | 8.09B | 6.24B | 4.04B | 977.96M | 601.58M |
| Total Debt | 13.80B | 13.04B | 7.53B | 5.72B | 1.96B | 178.03M |
| Total Liabilities | 24.95B | 19.71B | 15.72B | 7.66B | 2.59B | 351.45M |
| Stockholders Equity | 8.43B | 7.54B | 6.73B | 3.19B | 689.63M | 491.85M |
Cash Flow | ||||||
| Free Cash Flow | 0 | 1.33B | 911.38M | 860.21M | 96.70M | 99.83M |
| Operating Cash Flow | 0 | 1.35B | 916.49M | 878.18M | 120.51M | 102.92M |
| Investing Cash Flow | 0 | -4.46B | -2.88B | -3.40B | -1.44B | -16.47M |
| Financing Cash Flow | 0 | 4.93B | 4.16B | 5.59B | 1.69B | 189.17M |
f-code Inc. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:9211, the sentiment is Negative. The current price of 1138.00 is below the 20-day moving average (MA) of 1209.75, below the 50-day MA of 1363.48, and below the 200-day MA of 1457.72, indicating a bearish trend. The MACD of -86.30 indicates Positive momentum. The RSI at 38.64 is Neutral, neither overbought nor oversold. The STOCH value of 51.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:9211.
f-code Inc. Peers Comparison
Overall Rating
JP:978272Outperform
JP:653571Outperform
JP:709568Neutral- JP:921161Neutral
JP:609448Neutral
JP:449941.5Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| JP:9782 | 72Outperform | JPY 18.56B | 16.39 | ― | 7.41% | 4.57% | 22.38% |
| JP:6535 | 71Outperform | JPY 27.00B | 9.02 | ― | 5.82% | 2.87% | 0.67% |
| JP:7095 | 68Neutral | JPY 14.45B | 5.82 | ― | 5.60% | -5.30% | -13.86% |
| JP:9211 | 61Neutral | JPY 14.08B | 8.28 | ― | ― | 80.07% | 40.93% |
| Sector * | 60Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% |
| JP:6094 | 48Neutral | JPY 8.87B | 4.49 | ― | ― | 10.01% | ― |
| JP:4499 | 42Neutral | JPY 19.89B | -14.14 | ― | ― | 1.72% | -565.20% |
* Communication Services Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| JP:9211 | f-code Inc. | 1138.00 | -843.00 | -42.55% | |
| JP:4499 | Speee, Inc. | 1750.00 | -779.00 | -30.80% | |
| JP:6094 | FreakOut Holdings, Inc. | 494.00 | -11.00 | -2.18% | |
| JP:6535 | i-mobile Co., Ltd. | 464.00 | -72.01 | -13.43% | |
| JP:7095 | Macbee Planet Inc | 983.00 | -755.42 | -43.45% | |
| JP:9782 | DMS INC. | 3160.00 | 194.33 | 6.55% |
f-code Inc. Corporate Events
F-code Inc. Posts Strong Q2 Results and Ramps Up M&A-Led Growth Strategy
F-code Inc. reported strong results for the second quarter of fiscal 2026, with revenue reaching ¥8.20 billion, about 1.6 times year-on-year, and operating profit rising to ¥1.64 billion, roughly 1.4 times year-on-year. Management highlighted acceler...
F-code Delivers Strong First-Half Growth and Confirms 2026 Outlook
F-code Inc. reported strong interim results for the six months ended June 30, 2026, with revenue climbing 57.3% year on year to ¥8.2 billion and operating profit rising 41.6%. Profit attributable to owners of the parent grew 35.3%, lifting basic earn...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Oct 21, 2026