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Money Forward Valuation Multiples
Discover revenue and EBITDA valuation multiples for Money Forward and similar public comparables like BlackLine, Vertex, 74Software, Fujian Boss Software and more.
Money Forward Overview
About Money Forward
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.
Founded
2012
HQ
Employees
452
Website
Financials (LTM)
EV
$2B
Money Forward Financials
Money Forward reported last 12-month revenue of $337M and EBITDA of $41M.
In the same LTM period, Money Forward generated $258M in gross profit, $41M in EBITDA, and $6M in net income.
Revenue (LTM)
Money Forward P&L
In the most recent fiscal year, Money Forward reported revenue of $318M and EBITDA of $55M.
Money Forward expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $337M | XXX | $318M | XXX | XXX | XXX |
| Gross Profit | $258M | XXX | $215M | XXX | XXX | XXX |
| Gross Margin | 77% | XXX | 68% | XXX | XXX | XXX |
| EBITDA | $41M | XXX | $55M | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 17% | XXX | XXX | XXX |
| EBIT Margin | (3%) | XXX | (5%) | XXX | XXX | XXX |
| Net Profit | $6M | XXX | $10M | XXX | XXX | XXX |
| Net Margin | 2% | XXX | 3% | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Money Forward Stock Performance
Money Forward has current market cap of $2B, and enterprise value of $2B.
Market Cap Evolution
Money Forward's stock price is $31.41.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2B | $2B | -2.5% | XXX | XXX | XXX | $0.18 |
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Start Free TrialMoney Forward Valuation Multiples
Money Forward trades at 4.5x EV/Revenue multiple, and 36.8x EV/EBITDA.
EV / Revenue (LTM)
Money Forward Financial Valuation Multiples
As of April 18, 2026, Money Forward has market cap of $2B and EV of $2B.
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 292.5x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV/Revenue | 4.5x | XXX | 4.8x | XXX | XXX | XXX |
| EV/EBITDA | 36.8x | XXX | 27.7x | XXX | XXX | XXX |
| EV/EBIT | (165.0x) | XXX | (90.7x) | XXX | XXX | XXX |
| EV/Gross Profit | 5.9x | XXX | 7.0x | XXX | XXX | XXX |
| P/E | 292.5x | XXX | 174.0x | XXX | XXX | XXX |
| EV/FCF | (42.5x) | XXX | (31.7x) | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Money Forward Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Money Forward Margins & Growth Rates
Money Forward's revenue in the last 12 month grew by 18%.
Money Forward's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $0.5M for the same period.
Money Forward's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Money Forward's rule of X is 58% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Money Forward Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 18% | XXX | 16% | XXX | XXX | XXX |
| EBITDA Margin | 12% | XXX | 17% | XXX | XXX | XXX |
| EBITDA Growth | 74% | XXX | 4% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 33% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 58% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.7M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.5M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 13% | XXX | 14% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 43% | XXX | 45% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 73% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Money Forward Public Comps
See public comps and valuation multiples for other Financial Management Software comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Money Forward | XXX | XXX | XXX | XXX | XXX | XXX |
| BlackLine | XXX | XXX | XXX | XXX | XXX | XXX |
| Vertex | XXX | XXX | XXX | XXX | XXX | XXX |
| 74Software | XXX | XXX | XXX | XXX | XXX | XXX |
| Fujian Boss Software | XXX | XXX | XXX | XXX | XXX | XXX |
| Freee | 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 M&A Activity
Money Forward acquired XXX companies to date.
Last acquisition by Money Forward was on XXXXXXXX, XXXXX. Money Forward acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Money Forward
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialMoney Forward Investment Activity
Money Forward invested in XXX companies to date.
Money Forward made its latest investment on XXXXXXXX, XXXXX. Money Forward invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Money Forward
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Money Forward
| 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 over 452 employees. |
| Who is the CEO of Money Forward? | Money Forward's CEO is Yosuke Tsuji. |
| Is Money Forward publicly listed? | Yes, Money Forward is a public company listed on Tokyo Stock Exchange. |
| 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? | Money Forward main competitors are BlackLine, Vertex, 74Software, Fujian Boss Software. |
| What is the current market cap of Money Forward? | Money Forward's current market cap is $2B. |
| What is the current revenue of Money Forward? | Money Forward's last 12 months revenue is $337M. |
| What is the current revenue growth of Money Forward? | Money Forward revenue growth (NTM/LTM) is 18%. |
| What is the current EV/Revenue multiple of Money Forward? | Current revenue multiple of Money Forward is 4.5x. |
| 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 $41M. |
| What is Money Forward's EBITDA margin? | Money Forward's last 12 months EBITDA margin is 12%. |
| What is the current EV/EBITDA multiple of Money Forward? | Current EBITDA multiple of Money Forward is 36.8x. |
| What is the current FCF of Money Forward? | Money Forward's last 12 months FCF is ($36M). |
| What is Money Forward's FCF margin? | Money Forward's last 12 months FCF margin is (11%). |
| What is the current EV/FCF multiple of Money Forward? | Current FCF multiple of Money Forward is (42.5x). |
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