Money Forward Valuation

Is MNYF.F undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of MNYF.F when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: MNYF.F ($31.99) is trading below our estimate of fair value ($60.77)

Significantly Below Fair Value: MNYF.F is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for MNYF.F?

Key metric: As MNYF.F is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MNYF.F. This is calculated by dividing MNYF.F's market cap by their current revenue.
What is MNYF.F's PS Ratio?
PS Ratio	8.5x
Sales	JP¥36.16b
Market Cap	JP¥306.81b

MNYF.F key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	8.6x
Enterprise Value/EBITDA	-159.7x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does MNYF.F's PS Ratio compare to its peers?

The above table shows the PS ratio for MNYF.F vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	13.7x
SEMR Semrush Holdings	5.7x	16.6%	US$2.0b
SPT Sprout Social	4.8x	12.9%	US$1.9b
CXM Sprinklr	2.7x	5.7%	US$2.1b
SOUN SoundHound AI	41.8x	54.7%	US$3.0b
MNYF.F Money Forward	8.5x	20.7%	US$306.8b

Price-To-Sales vs Peers: MNYF.F is good value based on its Price-To-Sales Ratio (8.5x) compared to the peer average (11.7x).

Price to Sales Ratio vs Industry

How does MNYF.F's PS Ratio compare vs other companies in the US Software Industry?

76 Companies	Price / Sales	Estimated Growth	Market Cap
VYX NCR Voyix	0.6x	-23.2%	US$2.15b
PGY Pagaya Technologies	0.8x	15.8%	US$773.38m
XPER Xperi	0.8x	1.8%	US$418.27m
EGHT 8x8	0.6x	1.1%	US$415.50m

76 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: MNYF.F is expensive based on its Price-To-Sales Ratio (8.5x) compared to the US Software industry average (4.6x).

Price to Sales Ratio vs Fair Ratio

What is MNYF.F's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MNYF.F PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	8.5x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate MNYF.F's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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