Monex Group - Public Comps and Valuation Multiples

Monex Group Overview

About Monex Group

Monex Group Inc is functional in the financial services domain of Japan. Its core business is that of securities trading. Operating in the capital markets industry, the company renders such services as online securities business, the foreign exchange (FX) trading business, as well as the provision of merger and acquisition (M&A) advisory services. Most of its revenue is in the form of brokerage derived from its capital market activities majorly in Japan and on a minor scale in the United States and China.

Founded

2004

HQ

Employees

1.3K+

Website

monexgroup.jp

Sectors

Investment Brokerage
Electronic Trading
WealthTech
FinTech

Financials

LTM Revenue $451M

LTM EBITDA $44.2M

EV

$1.7B

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Monex Group Financials

As of September 2025, Monex Group reported last 12-month revenue of $451M and EBITDA of $44.2M.

In the same period, Monex Group achieved $35.6M in LTM net income.

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Monex Group P&L

In the most recent fiscal year, Monex Group reported revenue of $509M and EBITDA of $47.2M.

Monex Group expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$451M	XXX	$509M	XXX	XXX	XXX
Gross Profit	n/a	XXX	$509M	XXX	XXX	XXX
Gross Margin	n/a	XXX	100%	XXX	XXX	XXX
EBITDA	$44.2M	XXX	$47.2M	XXX	XXX	XXX
EBITDA Margin	10%	XXX	9%	XXX	XXX	XXX
EBIT	$44.2M	XXX	$107M	XXX	XXX	XXX
EBIT Margin	10%	XXX	21%	XXX	XXX	XXX
Net Profit	$35.6M	XXX	-$33.2M	XXX	XXX	XXX
Net Margin	8%	XXX	-7%	XXX	XXX	XXX
Net Debt	XXX	XXX	$220M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Monex Group including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $451M. EBITDA for the last twelve months was $44.2M. In the most recent fiscal year, Monex Group achieved $509M in revenue and $47.2M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$451M	Analyst estimates available to subscribers	$509M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	$509M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	100.0% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$44.2M	Analyst estimates available to subscribers	$47.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	9.8% EBITDA margin	Analyst estimates available to subscribers	9.3% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$44.2M	Analyst estimates available to subscribers	$107M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	9.8% EBIT margin	Analyst estimates available to subscribers	21.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$35.6M	Analyst estimates available to subscribers	-$33.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	7.9% net profit margin	Analyst estimates available to subscribers	-6.5% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$220M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Monex Group

This financial data table provides comprehensive performance metrics for Monex Group, a company based in Japan. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Monex Group generated $451M in revenue over the last twelve months.
The company achieved $44.2M in EBITDA over the last twelve months.
Net income over the last twelve months reached $35.6M.

Fiscal Year Performance

In the most recent fiscal year, Monex Group reported $509M in total revenue.
Fiscal year EBITDA was $47.2M.
The company maintained a gross profit margin of 100.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 9.3%.
Net profit margin reached -6.5% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Monex Group. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Monex Group Stock Performance

Monex Group has current market cap of JPY 200B (or $1.3B), and EV of JPY 263B (or $1.7B).

Market Cap Evolution

Monex Group Stock Data

As of October 17, 2025, Monex Group's stock price is JPY 795 (or $5).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.7B	$1.3B	XXX	XXX	XXX	XXX	$0.14

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Monex Group Valuation Multiples

Monex Group's trades at 3.3x EV/Revenue multiple, and 16.7x EV/EBITDA.

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Monex Group Financial Valuation Multiples

As of October 17, 2025, Monex Group has market cap of $1.3B and EV of $1.7B.

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

Monex Group has a P/E ratio of 36.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.3B	XXX	$1.3B	XXX	XXX	XXX
EV (current)	$1.7B	XXX	$1.7B	XXX	XXX	XXX
EV/Revenue	3.8x	XXX	3.3x	XXX	XXX	XXX
EV/EBITDA	39.0x	XXX	16.7x	XXX	XXX	XXX
EV/EBIT	39.0x	XXX	12.7x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	36.9x	XXX	49.7x	XXX	XXX	XXX
EV/FCF	n/a	XXX	38.2x	XXX	XXX	XXX

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

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Monex Group Margins & Growth Rates

Monex Group's last 12 month revenue growth is -6%

Monex Group's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.3M for the same period.

Monex Group's rule of 40 is 14% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Monex Group's rule of X is -5% (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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Monex Group Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	-6%	XXX	-10%	XXX	XXX	XXX
EBITDA Margin	10%	XXX	20%	XXX	XXX	XXX
EBITDA Growth	9%	XXX	-32%	XXX	XXX	XXX
Rule of 40	14%	XXX	14%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	-5%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	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	79%	XXX	XXX	XXX

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

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