Money Forward, Inc.

3994・Prime Market・Information & Communication

Official website

Money Forward, Inc.

3994・Prime Market・Information & Communication

Official website

Money Forward, Inc.3994

Reference Indicators

Market Cap

2,927¥100M

P/E (Forecast)

—

P/B

7.1x

Dividend Yield (Forecast)

0.00%

ROE

4.2%

EV/EBITDA

115.1x

Financial Summary

Unit: ¥M

Item	2021Nov 2021	2022Nov 2022	2023Nov 2023	2024Nov 2024	2025Nov 2025
Net Sales	15,632	21,477	30,380	40,363	50,349
Cost of Sales	4,814	8,079	11,298	13,303	16,119
Gross Profit	10,818	13,397	19,082	27,060	34,230
SG&A Expenses	11,880	21,867	25,412	31,795	36,883
Operating Income	-1,062	-8,469	-6,329	-4,735	-2,653
Non-operating Income	26	10	14	27	126
Non-operating Expenses	396	1,122	424	645	1,350
Ordinary Income	-1,432	-9,581	-6,738	-5,353	-3,877
Extraordinary Income	2	1	1	0	8,484
Extraordinary Losses	—	35	67	290	1,213
Pre-tax Income	-1,430	-9,615	-6,805	-5,642	3,393
Income Taxes	152	86	54	558	1,211
Net Income	-1,482	-9,449	-6,315	-6,330	1,587
EBITDA	-194	-6,904	-3,899	-1,183	2,376
Gross Margin	69.2%	62.4%	62.8%	67.0%	68.0%
Operating Margin	-6.8%	-39.4%	-20.8%	-11.7%	-5.3%
ROA	-2.6%	-14.3%	-7.2%	-6.0%	1.2%
ROE	-3.7%	-30.1%	-24.4%	-18.9%	4.2%

Segment Performance

Unit: ¥M

2026

Segment	Net Sales	Operating Income	Operating Margin
Business	36,050	-1,212	-3.4%
Saa S Marketing	4,739	478	10.1%
HOME	4,737	1,094	23.1%
X	3,139	399	12.7%
Finance	1,549	276	17.8%
その他	0	0	0.0%