HouseFreedom Co.,Ltd.

8996.T · Real Estate · Real Estate Services · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

185.61M USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

67.62M USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

24.46M USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

92.56M USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

27.40M USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

3.38×

the ratio the screener ranks by

Margin of Safety

+70.4%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 185.61M USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)193.86M USD
−②Net Debt Today51.86M USD
+③Growth Value43.61M USD
=Value185.61M USD

EPV of the Operations (NOPAT over WACC)

193.86M USD

Net debt today

-51.86M USD

Growth Value

+43.61M USD

Value

185.61M USD

①EPV (Earnings Power Value)

193.86M USD

②Net Debt Today

51.86M USD

③Growth Value

43.61M USD

Market value

Market Cap27.40M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+85.2%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 67.62M USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE36.59M USD
+②Equity at Year 15, Today31.02M USD
=Value67.62M USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth falling to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

36.59M USD

②Equity at Year 15, Today

31.02M USD

Market value

Market Cap27.40M USD

The price on the date above times the shares.

Value vs market

Margin of Safety+59.5%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 24.46M USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 24.46M USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Debt Today

Not in the value

Market value

Market Cap27.40M USD

The price on the date above times the shares.

Value vs market

Margin of Safety-12.1%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 2.16%
Cost of Equity =Risk-Free Rate 4.50%+Beta 0.17×Market Risk Premium 6.00%= 5.53%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 1.97M USDPretax Income 6.19M USD= 31.89%

The tax the interest saves.

Interest Expense =EBIT 7.35M USD−Pretax Income 6.19M USD= 1.16M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 1.16M USDTotal Debt 79.53M USD×(1 − Tax Rate for WACC 31.89%)= 1.00%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 79.53M USDMarket Cap + Total Debt 27.40M USD + 79.53M USD= 74.37%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 25.63%×Cost of Equity 5.53%+Debt Weight 74.37%×Cost of Debt 1.00%= 2.16%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2026-06-30.

Total Assets 112.61M USD − Total Liabilities 88.15M USD = Book Value Today 24.46M USD

Total Debt 79.53M USD − Cash and Short-Term Investments 27.66M USD = Net Debt Today 51.86M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-5.0%at most 5%passes3,833,140 / 4,033,140
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets-0.1%at least -10.0%passes(4.10M USD − 4.22M USD) ÷ 112.61M USD
Price to bookMarket Cap ÷ Book Value Today1.12×at most 3×passes27.40M USD ÷ 24.46M USD
Operating marginOperating Income ÷ Revenue6.6%above 10.0%does not pass7.13M USD ÷ 108.33M USD
Revenue growthRevenue ÷ Revenue a Year Before − 117.3%above 10.0%passes108.33M USD / 92.38M USD
Net cash(Cash − Total Debt) ÷ Market Cap-189.2%above -30%does not pass(27.66M USD − 79.53M USD) ÷ 27.40M USD
Operating efficiencyOperating Income ÷ Gross Profit22.1%above 25.0%does not pass7.13M USD ÷ 32.24M USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

1121.12 JPY

Enterprise value

12.70B JPY

the provider's own figure

EV / EBITDA

7.91×

Price / book

1.09×

the provider's book

Price / earnings

4.68×

Return on equity

25.4%

the provider's figure, not this page's

Profit margin

5.1%

Revenue growth

38.8%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

Income statement (USD)2022202320242025

Revenue

97.65M83.43M92.38M108.33M

Gross profit

28.75M27.51M27.81M32.24M

Operating income

4.99M4.86M5.63M7.13M

EBITDA

operating income before depreciation and amortisation

6.53M5.74M6.49M8.17M

Pretax income

4.48M4.12M4.82M6.19M

Net income

3.16M2.43M3.09M4.22M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

2.94M2.44M3.14M4.22M

R&D

————
Balance sheet, year end (USD)2022202320242025

Total assets

113.75M117.12M102.72M108.84M

Total liabilities

90.89M94.45M81.23M84.14M

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

22.86M22.68M21.49M24.70M

Total debt

82.25M86.01M71.72M75.30M

Cash and equivalents

27.44M25.90M25.22M30.71M

Net PP&E

fixed assets after depreciation

10.81M34.37M24.15M24.47M

Working capital

current assets less current liabilities

56.71M28.69M39.87M40.12M
Cash flow (USD)2022202320242025

Operating cash flow

-3.41M1.28M10.95M4.10M

Capital expenditure

paid out, so below zero

-4.18M-8.70M-1.16M-876.00K

Depreciation and amortisation

1.21M784.27K818.56K812.96K

Free cash flow

operating cash flow plus capital expenditure

-7.60M-7.41M9.79M3.22M