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BASE Valuation Multiples

Discover revenue and EBITDA valuation multiples for BASE and similar public comparables like Platform Group, Locaweb, and Netbay.

BASE Overview

About BASE

BASE Inc is engaged in the operation and development of web service planning. The company offers online shop opening service, shopping app, Fundraising Service, Online Payment Service, and ID Payment Service / Payment App.


Founded

2012

HQ

Japan
Employees

126

Website

binc.jp

Financials

LTM Revenue $123M

LTM EBITDA $5.5M

EV

$128M

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BASE Financials

BASE has a last 12-month revenue (LTM) of $123M and a last 12-month EBITDA of $5.5M.

In the most recent fiscal year, BASE achieved revenue of $110M and an EBITDA of -$0.3M.

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

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BASE P&L

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue $123M XXX $110M XXX XXX XXX
Gross Profit $123M XXX $49.2M XXX XXX XXX
Gross Margin 100% XXX 45% XXX XXX XXX
EBITDA $5.5M XXX -$0.3M XXX XXX XXX
EBITDA Margin 4% XXX 0% XXX XXX XXX
EBIT $6.6M XXX $5.3M XXX XXX XXX
EBIT Margin 5% XXX 5% XXX XXX XXX
Net Profit $3.8M XXX $2.3M XXX XXX XXX
Net Margin 3% XXX 2% XXX XXX XXX
Net Debt XXX XXX n/a XXX XXX XXX

Financial data powered by Morningstar, Inc.

BASE Stock Performance

As of May 30, 2025, BASE's stock price is JPY 379 (or $3).

BASE has current market cap of JPY 43.6B (or $299M), and EV of JPY 18.6B (or $128M).

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BASE Stock Data

EV Market Cap Price 1D Price 1M Price 3M Price 12M EPS
$128M $299M XXX XXX XXX XXX $0.03

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BASE Valuation Multiples

As of May 30, 2025, BASE has market cap of $299M and EV of $128M.

BASE's trades at 1.2x EV/Revenue multiple, and -489.9x EV/EBITDA.

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

BASE has a P/E ratio of 78.0x.

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BASE Financial Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Market cap (current) $299M XXX $299M XXX XXX XXX
EV (current) $128M XXX $128M XXX XXX XXX
EV/Revenue 1.0x XXX 1.2x XXX XXX XXX
EV/EBITDA 23.2x XXX -489.9x XXX XXX XXX
EV/EBIT 19.3x XXX 24.1x XXX XXX XXX
EV/Gross Profit 1.0x XXX n/a XXX XXX XXX
P/E 78.0x XXX 128.3x XXX XXX XXX
EV/FCF 5.3x XXX 5.1x XXX XXX XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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BASE Margins & Growth Rates

BASE's last 12 month revenue growth is 22%

BASE's revenue per employee in the last FY averaged $0.9M, while opex per employee averaged $0.3M for the same period.

BASE's rule of 40 is 17% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

BASE's rule of X is 60% (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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BASE Operational Valuation Multiples

LTM NTM Last FY FY 2025 FY 2026 FY 2027
Revenue Growth 22% XXX 22% XXX XXX XXX
EBITDA Margin 4% XXX 0% XXX XXX XXX
EBITDA Growth n/a XXX n/a XXX XXX XXX
Rule of 40 17% XXX 22% XXX XXX XXX
Bessemer Rule of X XXX XXX 60% XXX XXX XXX
Revenue per Employee XXX XXX $0.9M XXX XXX XXX
Opex per Employee XXX XXX $0.3M XXX XXX XXX
S&M Expenses to Revenue XXX XXX n/a XXX XXX XXX
G&A Expenses to Revenue XXX XXX n/a XXX XXX XXX
R&D Expenses to Revenue XXX XXX n/a XXX XXX XXX
Opex to Revenue XXX XXX 40% XXX XXX XXX

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BASE Public Comps

See public comps and valuation multiples for E-commerce Software comps
EV/Revenue EV/EBITDA
2025E 2026E 2027E 2025E 2026E 2027E
Netbay XXX XXX XXX XXX XXX XXX
Locaweb XXX XXX XXX XXX XXX XXX
Intershop Communications XXX XXX XXX XXX XXX XXX
Platform Group XXX XXX XXX XXX XXX XXX
QPR Software XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX
XXXXXXXX XXX XXX XXX XXX XXX XXX

Valuation data powered by FactSet, Inc.

BASE M&A and Investment Activity

BASE acquired  XXX companies to date.

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

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Latest Acquisitions by BASE

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 BASE

When was BASE founded? BASE was founded in 2012.
Where is BASE headquartered? BASE is headquartered in Japan.
How many employees does BASE have? As of today, BASE has 126 employees.
Is BASE publicy listed? Yes, BASE is a public company listed on TKS.
What is the stock symbol of BASE? BASE trades under 4477 ticker.
When did BASE go public? BASE went public in 2019.
Who are competitors of BASE? Similar companies to BASE include e.g. Netbay, Locaweb, Intershop Communications, Platform Group.
What is the current market cap of BASE? BASE's current market cap is $299M
What is the current revenue of BASE? BASE's last 12 months revenue is $123M.
What is the current revenue growth of BASE? BASE revenue growth (NTM/LTM) is 22%.
What is the current EV/Revenue multiple of BASE? Current revenue multiple of BASE is 1.0x.
Is BASE profitable? Yes, BASE is EBITDA-positive (as of the last 12 months).
What is the current EBITDA of BASE? BASE's last 12 months EBITDA is $5.5M.
What is BASE's EBITDA margin? BASE's last 12 months EBITDA margin is 4%.
What is the current EV/EBITDA multiple of BASE? Current EBITDA multiple of BASE is 23.2x.
What is the current FCF of BASE? BASE's last 12 months FCF is $24.0M.
What is BASE's FCF margin? BASE's last 12 months FCF margin is 20%.
What is the current EV/FCF multiple of BASE? Current FCF multiple of BASE is 5.3x.

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