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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 $294M
LTM EBITDA $16.8M
$1.4B
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 of $294M and a last 12-month EBITDA of $16.8M.
In the most recent fiscal year, Money Forward achieved revenue of $268M and an EBITDA of -$12.7M.
Money Forward expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Money Forward valuation multiples based on analyst estimates| FY 2023 | FY 2024 | FY 2025 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $202M | $268M | XXX | XXX | XXX |
| Gross Profit | $89.0M | $127M | XXX | XXX | XXX |
| Gross Margin | 44% | 47% | XXX | XXX | XXX |
| EBITDA | -$28.2M | -$12.7M | XXX | XXX | XXX |
| EBITDA Margin | -14% | -5% | XXX | XXX | XXX |
| Net Profit | -$62.8M | -$42.0M | XXX | XXX | XXX |
| Net Margin | -31% | -16% | XXX | XXX | XXX |
| Net Debt | n/a | n/a | XXX | XXX | XXX |
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As of April 15, 2025, Money Forward's stock price is JPY 4029 (or $27).
Money Forward has current market cap of JPY 222B (or $1.5B), and EV of JPY 207B (or $1.4B).
See Money Forward trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $1.4B | $1.5B | XXX | XXX | XXX | XXX | $-0.65 |
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Sign UpAs of April 15, 2025, Money Forward has market cap of $1.5B and EV of $1.4B.
Money Forward's trades at 4.7x LTM EV/Revenue multiple, and 81.9x LTM EBITDA.
Analysts estimate Money Forward's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Money Forward and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $1.4B | XXX | XXX | XXX |
| EV/Revenue | 5.0x | XXX | XXX | XXX |
| EV/EBITDA | -144.0x | XXX | XXX | XXX |
| P/E | -36.3x | XXX | XXX | XXX |
| P/E/Growth | n/a | XXX | XXX | XXX |
| EV/FCF | -19.1x | 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.
Sign UpMoney Forward's NTM/LTM revenue growth is 26%
Money Forward's revenue per employee for the last fiscal year averaged $0.6M, while opex per employee averaged $0.5M for the same period.
Over next 12 months, Money Forward's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Money Forward's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Money Forward and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 33% | XXX | XXX | XXX | XXX |
| EBITDA Margin | -3% | XXX | XXX | XXX | XXX |
| EBITDA Growth | -55% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 23% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.6M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.5M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| Opex to Revenue | 79% | XXX | 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 |
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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 |
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Sign Up| 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 $1.5B |
| What is the current revenue of Money Forward? | Money Forward's last 12-month revenue is $294M. |
| What is the current EBITDA of Money Forward? | Money Forward's last 12-month EBITDA is $16.8M. |
| What is the current EV/Revenue multiple of Money Forward? | Current revenue multiple of Money Forward is 4.7x. |
| What is the current EV/EBITDA multiple of Money Forward? | Current EBITDA multiple of Money Forward is 81.9x. |
| What is the current revenue growth of Money Forward? | Money Forward revenue growth between 2023 and 2024 was 33%. |
| Is Money Forward profitable? | Yes, Money Forward is EBITDA-positive (as of the last 12 months). |
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