EN DE

BASE,Inc. (BAINF) Fair Value & Analysis

Technology · US · Market cap $161M

BI BASE,Inc. logo BASE,Inc. BAINF · US
Price$1.40
Fair Value$2.90
Upside+107.1%
Quality67/100
Watch BASE,Inc. for free, get notified when fair value or trend changes. Watch for free
Healthy Growth
Thin margins · 9.0% net margin
Low debt · generates free cash flow
4.66% dividend yield
Ranks above peers (10/11)
Moderate moat 48/100
Evidence: High Range $1.97 – $3.78 Share as image

Fair value as of: Jul 24, 2026

From 24 valuation models · updated 17 days ago

Fair value updated Jul 24, 2026, revised from $2.95 to $2.90 (−1.7%) since Jun 25, 2026.

A solid business, screening 107% undervalued on our models.

What matters now

  • The price is below even our cautious bear case ($1.97). The market is more pessimistic than our downside scenario.
  • Solid quality (67/100) at a price below fair value, the discount is the argument here, not the business quality.
  • A fairly wide model range ($1.97 to $3.78) leaves room in how you read the outcome.
Share this valuation: 𝕏 WhatsApp

Price vs Fair Value (5 years)

$17.95 $1.22 Fair Value $2.90 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 24, 2026.

How to read this chart

60‑month range $1.22 – $17.95 · fair‑value band $1.97 – $3.78 · the $1.40 price screens below the $2.90 fair value. Dashed = 300-day average. As of Jul 24, 2026.

Full chart & analysis →

Which stocks are undervalued right now? Check free Discover now →

Analysis

BASE,Inc. (BAINF) currently trades at $1.40, while our model-based Fair Value estimate is $2.90, implying the stock looks roughly 107.1% undervalued today. The Quality Score stands at 67/100 (solid quality), in the Technology sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, BASE,Inc. generated revenue of $22.4B at a net margin of 9.0%. Revenue grew 36.6% year over year. It earns a return on equity of 14.4%. The balance sheet holds a net cash position of $26.0B. Fundamentals as of Jul 24, 2026

Our scenario range runs from $1.97 (bear case) to $3.78 (bull case); at $1.40, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 46% below its 52-week high, currently below its 200-day average. For context, the median of 10 Technology peers we cover trades at -27% fair-value upside, at 107%, BAINF screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $4.74 $6.30 $9.09 80
Rev-Margin DCF $3.93 $5.25 $7.88 74
ROIC Compounder $2.80 $2.90 $2.98 72
All 24 models by family
DCF Models
FCF DCF $4.93 $6.11 $9.57 38
Owner Earnings $3.56 $5.10 $7.77 31
5Y Revenue Exit $3.83 $4.84 $6.91 39
5Y EBITDA Exit $3.86 $4.90 $6.91 41
5Y P/E Exit $4.37 $6.85 $10.15 38
10Y Revenue Exit $4.19 $6.00 $6.92 36
10Y EBITDA Exit $4.25 $6.06 $8.92 37
10Y P/E Exit $4.57 $6.99 $10.79 35
Earnings-Based
Graham-Dodd $0.9452 $6.59 $9.25 54
Lynch FV $2.92 $4.17 $5.42 50
PEG = 1.0 $2.92 $4.17 $5.42 46
EPV $2.80 $2.90 $2.98 59
Multiples
P/E Multiple $2.09 $2.78 $3.47 63
P/S Multiple $1.77 $2.36 $2.95 58
P/B Multiple $1.77 $2.36 $2.95 55
EV/EBIT $3.71 $4.29 $4.86 53
EV/EBITDA $3.27 $3.71 $4.14 54
EV/Revenue $3.14 $3.64 $4.14 43
Asset-Based
NCAV (Graham) $0.5677 $0.7607 $1.14 50
Growth DCF
Growth DCF $4.74 $6.30 $9.09 80
Rev-Margin DCF $3.93 $5.25 $7.88 74
Economic Profit
Residual Income $0.9504 $1.05 $1.45 61
ROIC Compounder $2.80 $2.90 $2.98 72
Growth Earnings
Growth-Adj P/E $3.52 $5.03 $6.54 68

Widest divergence: DCF Models ($6.00) versus Asset-Based ($0.7607). Highest evidence: Growth DCF (80).

Notify me when BAINF reaches fair value

Free. You confirm by email (double opt-in) and can unsubscribe anytime in one click.

Key figures & financial health

Revenue (TTM) $22.4B
Revenue growth (YoY) +36.6%
Net margin 9.0%
Return on equity 14.4%
Free cash flow $3.3B FY2025
P/E ratio 14.0
More key figures
Operating margin 10.7%
EPS (TTM) $0.1000
Dividend yield 4.7%
EPS growth (YoY) +63.1%
Net cash $26.0B FY2025

Figures from reported company fundamentals · as of Jul 24, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 67/100

Of which business quality 65 · Market factors (momentum, volatility) 19

Profitability 35
Margins and returns on capital today
Quality Growth 83
Are margins and returns improving?
Cashflow 79
Earnings quality: real cash, not paper profit
Fin. Strength 65
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 58
Calm price path (market factor)
Momentum 4
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 77
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

BASE,Inc. engages in the planning, development, and operation of web services in Japan. The company offers BASE, an online shop opening service that allows anyone to create an online shop; and PAY ID, a shopping service that provides payment experiences for purchasers shopping online, as well as enables them to discover new products and repeat purchases.

Full company description

BASE,Inc. engages in the planning, development, and operation of web services in Japan. The company offers BASE, an online shop opening service that allows anyone to create an online shop; and PAY ID, a shopping service that provides payment experiences for purchasers shopping online, as well as enables them to discover new products and repeat purchases. It also provides PAY.JP, a payment API that allows developers to implement online payment functions to their services; E-Store ShopServe, a platform for building e-commerce websites, and YELL BANK, a financial service that allows shop owners who use the online shop opening service BASE to raise funds. BASE,Inc. was incorporated in 2012 and is based in Tokyo, Japan.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

BASE,Inc. reported revenue of $20.7B in FY2025 versus $9.9B in FY2021, a compound +20.2%/yr. Reported net income was $1.8B in FY2025.

Growth Quality 95/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
$20.7B
Latest YoY
+29.8%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+28.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.1%
Avg. growth/yr (7Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+36.5%
Revenue +20.2%/yr
FY21 $9.9B
FY22 $9.7B
FY23 $11.7B
FY24 $16.0B
FY25 $20.7B
Net income
FY21 −$1.2B
FY22 −$1.7B
FY23 −$606M
FY24 $340M
FY25 $1.8B

Watch BAINF: get an alert when its fair value changes →

Share or link this analysis
For bloggers & editors: embed code + live data

For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.

Cite: Fair Value Calculator (2026). "BASE,Inc. Fair Value". https://www.fairvalue-calculator.com/stock/BAINF

Peer Group

Software - Application · 709 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 67 · Top 25%
Fair Value upside +107% · Top 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 3% · Above median
Net margin (TTM) 9% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 37% · Top 25%
Dividend yield (TTM) 4.7% · Top 25%
Debt / equity 0.06× · Higher than median

Valuation Multiples vs Software - Application median · lower = cheaper

P/E (TTM) 14.0× · Cheaper than 75% of peers
P/FCF 0.0× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 100 · sector 0
FUTURE 100 · sector 38
PAST 58 · sector 13
HEALTH 97 · sector 98
DIVIDEND 93 · sector 28

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate (as of Jul 24, 2026).

Stock Price Fair Value vs Fair Value
SAP SE SAPS C$12.69 C$16.26 +28%
Shopify Inc SHOP C$173.23 C$20.54 -88%
Uber Technologies, Inc UBER $72.67 $51.11 -30%
Salesforce, Inc CRM $170.77 $182.10 +7%
ServiceNow, Inc NOW $107.71 $33.12 -69%
Cadence Design Systems, Inc CDNS $384.17 $80.41 -79%
Snowflake Inc SNOW $271.87 $34.04 -87%
Adobe Inc ADBE $230.61 $379.48 +65%
Automatic Data Processing, Inc ADP $241.92 $177.51 -27%
Intuit Inc INTU $291.09 $258.69 -11%

Compare BASE,Inc. with another stock

Price, fair value, quality and upside side by side.

Free, no sign-up

Explore undervalued stocks

More undervalued Technology stocks →

All undervalued stocks TechnologyFinancial ServicesHealthcareConsumer CyclicalConsumer DefensiveCommunication ServicesIndustrialsEnergyBasic MaterialsReal EstateUtilities Deeply Undervalued StocksUndervalued Blue-Chip StocksUndervalued Small-Cap StocksUndervalued Dividend Stocks

Frequently asked questions

Is BASE,Inc. (BAINF) overvalued or undervalued?
As of Jul 24, 2026, our model estimates a fair value of $2.90 versus a price of $1.40, about +107% (undervalued).
What is the fair value of BAINF?
Our model-based fair value for BASE,Inc. is $2.90 (as of Jul 24, 2026), built from audited fundamentals. The current price is $1.40.
What is the quality score of BAINF?
BASE,Inc. has a Quality Score of 67/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of BASE,Inc. (BAINF)?
BASE,Inc. reported trailing-twelve-month revenue of about $22.4B (latest available figure, as of Jul 24, 2026).
What is the net profit margin of BAINF?
The net profit margin of BASE,Inc. is about 9.0%, meaning it keeps roughly 9.0% of revenue as net income. Based on the latest reported figures.
Does BASE,Inc. pay a dividend?
BASE,Inc. currently shows a dividend yield of about 4.66% relative to its recent price (as of Jul 24, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

14 days Pro free · no card

Track BASE,Inc. and try Pro for 14 days

One email gets you 14 days of full Pro (review alerts, the 35,000+ stock screener, the diversification check) plus the monthly Top-25 report of the most undervalued quality stocks. No card, cancel anytime.

Zero risk: nothing is ever charged. After 14 days you decide whether to stay.