Shift - Public Comps and Valuation Multiples

Shift Overview

About Shift

Shift Inc provides software testing services. The company’s solutions include Test Design that takes into consideration of usability for the next project, and its seasoned test engineers provide support to test design such as building standard confirmation item. Test Run helps the customers to choose onsite or off-site implementation in accordance with the environment. MinTest is a website where people report bugs of social games and applications. It also provides other services such as CAT, Non-Functional Testing, Localization, and others related services.

Founded

2005

HQ

Employees

1.8K+

Website

shiftinc.jp

Sectors

IT Consulting
Service Providers

Financials

LTM Revenue $888M

LTM EBITDA $130M

EV

$1.7B

Valuation Multiples

Multiples.vc

Valuation Multiples for 15K+ Public Comps

Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.

Browse Valuation Multiples

Shift Financials

As of September 2025, Shift reported last 12-month revenue of $888M and EBITDA of $130M.

In the same period, Shift generated $306M in LTM gross profit and $62.7M in net income.

See Shift valuation multiples based on analyst estimates

Shift P&L

In the most recent fiscal year, Shift reported revenue of $733M and EBITDA of $79.3M.

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

See Shift valuation multiples based on analyst estimates

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$888M	XXX	$733M	XXX	XXX	XXX
Gross Profit	$306M	XXX	$234M	XXX	XXX	XXX
Gross Margin	34%	XXX	32%	XXX	XXX	XXX
EBITDA	$130M	XXX	$79.3M	XXX	XXX	XXX
EBITDA Margin	15%	XXX	11%	XXX	XXX	XXX
EBIT	$108M	XXX	$69.8M	XXX	XXX	XXX
EBIT Margin	12%	XXX	10%	XXX	XXX	XXX
Net Profit	$62.7M	XXX	$34.0M	XXX	XXX	XXX
Net Margin	7%	XXX	5%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

.seo-only-financials-wrapper { position: static; left: auto; width: auto; height: auto; overflow: visible; }

Financial performance metrics for Shift including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $888M. EBITDA for the last twelve months was $130M. In the most recent fiscal year, Shift achieved $733M in revenue and $79.3M 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	$888M	Analyst estimates available to subscribers	$733M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$306M	Analyst estimates available to subscribers	$234M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	34.4% gross margin	Analyst estimates available to subscribers	32.0% 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)	$130M	Analyst estimates available to subscribers	$79.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	14.7% EBITDA margin	Analyst estimates available to subscribers	10.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$108M	Analyst estimates available to subscribers	$69.8M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	12.2% EBIT margin	Analyst estimates available to subscribers	9.5% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$62.7M	Analyst estimates available to subscribers	$34.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	7.1% net profit margin	Analyst estimates available to subscribers	4.6% 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	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Shift

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

Recent Performance Highlights

Shift generated $888M in revenue over the last twelve months.
The company achieved $130M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $306M.
Net income over the last twelve months reached $62.7M.

Fiscal Year Performance

In the most recent fiscal year, Shift reported $733M in total revenue.
Fiscal year EBITDA was $79.3M.
The company maintained a gross profit margin of 32.0% in the most recent fiscal year.
EBITDA margin for the fiscal year was 10.8%.
Net profit margin reached 4.6% in the most recent fiscal year.

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

Shift Stock Performance

Shift has current market cap of JPY 274B (or $1.8B), and EV of JPY 262B (or $1.7B).

Market Cap Evolution

Shift Stock Data

As of October 30, 2025, Shift's stock price is JPY 1040 (or $7).

See Shift trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$1.7B	$1.8B	XXX	XXX	XXX	XXX	$0.24

Benchmark Trading Valuation Multiples by Industry

Sign up to access valuation multiples like growth-adjusted P/E, next 12-month EV/Revenue, EBITDA multiples by industry and many more

Start Free Trial

Shift Valuation Multiples

Shift's trades at 2.7x EV/Revenue multiple, and 22.0x EV/EBITDA.

See valuation multiples for Shift and 15K+ public comps

Shift Financial Valuation Multiples

As of October 30, 2025, Shift has market cap of $1.8B and EV of $1.7B.

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

Shift has a P/E ratio of 28.9x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$1.8B	XXX	$1.8B	XXX	XXX	XXX
EV (current)	$1.7B	XXX	$1.7B	XXX	XXX	XXX
EV/Revenue	2.0x	XXX	2.7x	XXX	XXX	XXX
EV/EBITDA	13.3x	XXX	22.0x	XXX	XXX	XXX
EV/EBIT	16.0x	XXX	23.3x	XXX	XXX	XXX
EV/Gross Profit	5.7x	XXX	n/a	XXX	XXX	XXX
P/E	28.9x	XXX	46.6x	XXX	XXX	XXX
EV/FCF	54.9x	XXX	36.8x	XXX	XXX	XXX

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

Get Shift Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.

Start Free Trial

Shift Margins & Growth Rates

Shift's last 12 month revenue growth is 19%

Shift's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.1M for the same period.

Shift's rule of 40 is 32% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Shift's rule of X is 63% (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 Shift and other 15K+ public comps

Shift Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	19%	XXX	31%	XXX	XXX	XXX
EBITDA Margin	15%	XXX	12%	XXX	XXX	XXX
EBITDA Growth	23%	XXX	45%	XXX	XXX	XXX
Rule of 40	32%	XXX	32%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	63%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.1M	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	22%	XXX	XXX	XXX

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

Valuation Multiples Across 220+ Verticals

Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!

Digital Therapeutics

Pharma Analytics

Private Equity

ERP Software

Developer Tools

Consumer SaaS

Streaming Platforms

Explore Valuation Multiples by Industry

Start Free Trial