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Money Forward Inc provides money-related services for individuals and corporations. Its service portfolio comprises personal financial management services and MF cloud services. Its personal financial management services include economic media that conveys money related themes, automatic savings app and mirai talk channel where customers can resolve their financial concerns together directly with financial planners. Its MF Cloud services comprise cloud accounting software, cloud-based tax return, invoice preparation software, payroll calculation, and cloud-based payment reconciliation.
2012
452
LTM Revenue $311M
LTM EBITDA $16.6M
$1.7B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Money Forward has a last 12-month revenue (LTM) of $311M and a last 12-month EBITDA of $16.6M.
In the most recent fiscal year, Money Forward achieved revenue of $277M and an EBITDA of -$13.2M.
Money Forward expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Money Forward valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $311M | XXX | $277M | XXX | XXX | XXX |
| Gross Profit | $228M | XXX | $186M | XXX | XXX | XXX |
| Gross Margin | 73% | XXX | 67% | XXX | XXX | XXX |
| EBITDA | $16.6M | XXX | -$13.2M | XXX | XXX | XXX |
| EBITDA Margin | 5% | XXX | -5% | XXX | XXX | XXX |
| EBIT | -$26.1M | XXX | -$32.5M | XXX | XXX | XXX |
| EBIT Margin | -8% | XXX | -12% | XXX | XXX | XXX |
| Net Profit | -$34.8M | XXX | -$43.4M | XXX | XXX | XXX |
| Net Margin | -11% | XXX | -16% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | n/a | XXX | XXX | XXX |
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As of May 30, 2025, Money Forward's stock price is JPY 4589 (or $31).
Money Forward has current market cap of JPY 254B (or $1.7B), and EV of JPY 242B (or $1.7B).
See Money Forward trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.7B | $1.7B | XXX | XXX | XXX | XXX | $-0.64 |
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Start Free TrialAs of May 30, 2025, Money Forward has market cap of $1.7B and EV of $1.7B.
Money Forward's trades at 5.9x EV/Revenue multiple, and -161.5x EV/EBITDA.
Equity research analysts estimate Money Forward's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Money Forward has a P/E ratio of -50.0x.
See valuation multiples for Money Forward and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $1.7B | XXX | $1.7B | XXX | XXX | XXX |
| EV (current) | $1.7B | XXX | $1.7B | XXX | XXX | XXX |
| EV/Revenue | 5.3x | XXX | 5.9x | XXX | XXX | XXX |
| EV/EBITDA | 100.4x | XXX | -161.5x | XXX | XXX | XXX |
| EV/EBIT | -63.7x | XXX | -52.9x | XXX | XXX | XXX |
| EV/Gross Profit | 7.3x | XXX | n/a | XXX | XXX | XXX |
| P/E | -50.0x | XXX | -41.4x | XXX | XXX | XXX |
| EV/FCF | -23.5x | XXX | -22.4x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialMoney Forward's last 12 month revenue growth is 25%
Money Forward's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.5M for the same period.
Money Forward's rule of 40 is 12% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Money Forward's rule of X is 69% (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).
See operational valuation multiples for Money Forward and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 25% | XXX | 25% | XXX | XXX | XXX |
| EBITDA Margin | 5% | XXX | -4% | XXX | XXX | XXX |
| EBITDA Growth | 156% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | 12% | XXX | 22% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | 69% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.5M | 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 |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Cape Range | XXX | XXX | XXX | XXX | XXX | XXX |
| Credit Clear | XXX | XXX | XXX | XXX | XXX | XXX |
| IODM | XXX | XXX | XXX | XXX | XXX | XXX |
| Reckon | XXX | XXX | XXX | XXX | XXX | XXX |
| Xero | 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.
Money Forward acquired XXX companies to date.
Last acquisition by Money Forward was XXXXXXXX, XXXXX XXXXX XXXXXX . Money Forward acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| 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 |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was Money Forward founded? | Money Forward was founded in 2012. |
| Where is Money Forward headquartered? | Money Forward is headquartered in Japan. |
| How many employees does Money Forward have? | As of today, Money Forward has 452 employees. |
| Who is the CEO of Money Forward? | Money Forward's CEO is Mr. Yosuke Tsuji. |
| Is Money Forward publicy listed? | Yes, Money Forward is a public company listed on TKS. |
| What is the stock symbol of Money Forward? | Money Forward trades under 3994 ticker. |
| When did Money Forward go public? | Money Forward went public in 2017. |
| Who are competitors of Money Forward? | Similar companies to Money Forward include e.g. Cape Range, Credit Clear, IODM, Reckon. |
| What is the current market cap of Money Forward? | Money Forward's current market cap is $1.7B |
| What is the current revenue of Money Forward? | Money Forward's last 12 months revenue is $311M. |
| What is the current revenue growth of Money Forward? | Money Forward revenue growth (NTM/LTM) is 25%. |
| What is the current EV/Revenue multiple of Money Forward? | Current revenue multiple of Money Forward is 5.3x. |
| Is Money Forward profitable? | Yes, Money Forward is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Money Forward? | Money Forward's last 12 months EBITDA is $16.6M. |
| What is Money Forward's EBITDA margin? | Money Forward's last 12 months EBITDA margin is 5%. |
| What is the current EV/EBITDA multiple of Money Forward? | Current EBITDA multiple of Money Forward is 100.4x. |
| What is the current FCF of Money Forward? | Money Forward's last 12 months FCF is -$70.9M. |
| What is Money Forward's FCF margin? | Money Forward's last 12 months FCF margin is -23%. |
| What is the current EV/FCF multiple of Money Forward? | Current FCF multiple of Money Forward is -23.5x. |
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