FriendTimes Inc
HKEX:6820

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FriendTimes Inc
HKEX:6820
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Price: 0.475 HKD
Market Cap: HK$1B

EV/EBITDA

3.5
Current
8%
Cheaper
vs 3-y average of 3.8

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
3.5
=
Enterprise Value
HK$346.8m
/
EBITDA
¥78.8m

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
3.5
=
Enterprise Value
HK$346.8m
/
EBITDA
¥78.8m

Valuation Scenarios

FriendTimes Inc is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (3.8), the stock would be worth HK$0.51 (8% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+979%
Average Upside
432%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 3.5 HK$0.48
0%
3-Year Average 3.8 HK$0.51
+8%
5-Year Average 4.3 HK$0.58
+21%
Industry Average 38 HK$5.12
+979%
Country Average 28.8 HK$3.89
+719%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
HK$346.8m
/
Jan 2026
¥78.8m
=
3.5
Current
HK$346.8m
/
Dec 2026
¥216.2m
=
1.6
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
CN
FriendTimes Inc
HKEX:6820
1B HKD 3.5 9.8
US
Activision Blizzard Inc
LSE:0H8X
74.1B USD 24.6 34.2
CN
NetEase Inc
NASDAQ:NTES
70.6B USD 8.6 14.3
JP
Nintendo Co Ltd
TSE:7974
9.6T JPY 20.7 23.9
US
Electronic Arts Inc
NASDAQ:EA
50.6B USD 37.5 74.5
SG
Sea Ltd
NYSE:SE
45.5B USD 15.6 28.9
US
Roblox Corp
NYSE:RBLX
39.3B USD -37.4 -36.9
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
38.9B USD 40 -9.8
CN
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
122.9B CNY 19.9 32.6
JP
Konami Holdings Corp
TSE:9766
2.7T JPY 16.7 31.8
JP
Nexon Co Ltd
TSE:3659
2.1T JPY 9.8 23.3
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
CN
FriendTimes Inc
HKEX:6820
Average EV/EBITDA: 19.7
3.5
N/A N/A
US
A
Activision Blizzard Inc
LSE:0H8X
24.6
30%
0.8
CN
NetEase Inc
NASDAQ:NTES
8.6
12%
0.7
JP
Nintendo Co Ltd
TSE:7974
20.7
33%
0.6
US
Electronic Arts Inc
NASDAQ:EA
37.5
20%
1.9
SG
Sea Ltd
NYSE:SE
15.6
38%
0.4
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -37.4 N/A N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
40
58%
0.7
CN
Z
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
19.9
61%
0.3
JP
Konami Holdings Corp
TSE:9766
16.7
15%
1.1
JP
N
Nexon Co Ltd
TSE:3659
9.8
16%
0.6
P/E Multiple
Earnings Growth PEG
CN
FriendTimes Inc
HKEX:6820
Average P/E: 30.4
9.8
N/A N/A
US
A
Activision Blizzard Inc
LSE:0H8X
34.2
36%
1
CN
NetEase Inc
NASDAQ:NTES
14.3
14%
1
JP
Nintendo Co Ltd
TSE:7974
23.9
26%
0.9
US
Electronic Arts Inc
NASDAQ:EA
74.5
32%
2.3
SG
Sea Ltd
NYSE:SE
28.9
27%
1.1
US
Roblox Corp
NYSE:RBLX
Negative Multiple: -36.9 N/A N/A
US
Take-Two Interactive Software Inc
NASDAQ:TTWO
Negative Multiple: -9.8 N/A N/A
CN
Z
Zhejiang Century Huatong Group Co Ltd
SZSE:002602
32.6
104%
0.3
JP
Konami Holdings Corp
TSE:9766
31.8
22%
1.4
JP
N
Nexon Co Ltd
TSE:3659
23.3
18%
1.3

Market Distribution

Lower than 94% of companies in China
Percentile
6th
Based on 5 409 companies
6th percentile
3.5
Low
0 — 16.3
Typical Range
16.3 — 53.1
High
53.1 —
Distribution Statistics
China
Min 0
30th Percentile 16.3
Median 28.8
70th Percentile 53.1
Max 49 021

FriendTimes Inc
Glance View

Market Cap
1B HKD
Industry
Media

FriendTimes, Inc. is an investment holding company, which operates as a mobile game developer, publisher and operator in ancient Chinese style female-oriented games. The company is headquartered in Suzhou, Jiangsu and currently employs 1,362 full-time employees. The company went IPO on 2019-10-08. The firm is principally engaged in the development, publishing and operation of mobile games business. The Company’s main products include Royal Chaos, Rise of Queendom, Legend of Empress and Fate: Royal Revenge. The firm mainly operates its business in the domestic market.

Intrinsic Value
1.445 HKD
Undervaluation 67%
Intrinsic Value
Price HK$0.475
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