Money Forward Inc (MNFYY) fair value: what the stock is really worth
As of Sep 18, 2026: fair value of Money Forward Inc $2.52, price $12.00, upside -79.0%, quality 40 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
Watch Money Forward Inc for free, get notified when fair value or trend changes. Plus fair value for all 35,000+ stocks, 14 days of Pro free, no card.Watch for freePro now: $1 first month
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
20‑month range $12.00 – $12.00 · fair‑value band $2.11 – $3.15 · the $12.00 price screens above the $2.52 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Follow Money Forward in your weekly email
Every Wednesday you see whether Money Forward is on track or worth a review, plus price against fair value. Free, up to 3 stocks.
We send you a confirmation link. Unsubscribe with one click.
Money Forward, Inc. provides financial solutions for individuals, financial institutions, and corporations primarily in Japan.
Show more
Money Forward, Inc. provides financial solutions for individuals, financial institutions, and corporations primarily in Japan. The company offers personal financial management services under the Money Forward ME, MONEY PLUS, Money Forward Personal Financial Consulting, and Money Forward Fixed Cost Review names; Money Forward Cloud, a software-as-a-service (SaaS) application for promoting back office operations; and accounting and tax solutions under the Money Forward Cloud Accounting, Money Forward Cloud Accounting Plus, Money Forward Cloud Tax Return, Money Forward Cloud Invoice Issuing, Money Forward Cloud Invoice Issuing Plus, Money Forward Cloud Receivables Management, Money Forward Cloud Expense, Money Forward Cloud Accounts Payable, Money Forward Cloud Invoice System, Money Forward Cloud Fixed Assets, Money Forward Cloud Project Cost, Money Forward Cloud Consolidated Association, and Money Forward Cloud Box names. It also provides human resource solutions under the Money Forward Cloud HR Database, MoneyForward Cloud Attendance, Money Forward Cloud Payroll, Money Forward Cloud Tax Adjustment, MoneyForward Cloud Social Insurance, and Money Forward Cloud My Number names; and SaaS marketing platform solutions under the BOXIL SaaS, BOXIL EXPO, BALES, BALES CLOUD, BOXIL, BizHint, and ADXL names; and financial services under the Money Forward Kessai, Money Forward Transaction Finance, Money Forward Invoice Card Pay, Money Forward Early Payment, SHIKIN+, SEIKYU+, Biz Forward Invoice Card Pay, and HIRAC FUND names. In addition, the company offers Money Forward Fintech Platform for collecting the asset data and transaction data, storing the data, and analyzing the data for customer insights; consulting services; and other solutions. The company was formerly known as Moneybook Co. and changed its name to Money Forward, Inc. in December 2012. Money Forward, Inc. was incorporated in 2012 and is headquartered in Tokyo, Japan.
Stock analysis
Money Forward Inc (MNFYY) currently trades at $12.00, while our model-based Fair Value estimate is $2.52, implying the stock looks roughly 376.2% overvalued today.
Show more
Valuation
Bull case: the Growth Earnings group reads highest at a median of $4.25 per share, and 0 of the 10 models we run sit above the $12.00 price.
Bear case: the Multiples group reads lowest at $1.53, and 10 of the 10 models stay below the price. Evidence for this calculation is low.
Scenario range: $2.11 (bear) to $3.15 (bull), the price of $12.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 40/100 (below-average quality), in the Technology sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Money Forward Inc reported revenue of ¥50.3B in FY2025 versus ¥15.6B in FY2021, a compound +34.0%/yr. Reported net income was ¥1.6B in FY2025.
Key figures
Market cap $1.3B · P/S ratio 0.02 · EPS (TTM) $−0.3900 · Net margin 3.2% · Return on equity 8.7% · Return on assets (EBIT) −5.7% · Operating margin 1.2% · Revenue (TTM) ¥53.3B.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 41 out of 100 (medium confidence).
What moves the price
The share trades at its 52-week high and at its 52-week low, currently above its 200-day average.
For context, the median of 10 Technology peers we cover trades at −13% fair-value upside, at −79%, MNFYY screens richer than that median.
Fair Value models
Bear $2.11Fair Value $2.52Bull $3.15
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single 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 ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.52/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+24.7%
Revenue growth 3 years ⓘ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. Per-share growth (which does include buybacks) is in the value-creation card.
+32.8%
’21
’22
’23
’24
’25
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−6.8% (2021) → −5.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
Price, fair value, quality and upside side by side.
Free, no sign-up
Peer Groupⓘ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.Software - Application · 710 stocks
Beats the industry median on 4/9 measures
A mixed picture versus its industry peers.
Valuation
Quality Score40 · Bottom 25%
Fair Value upside−79% · Bottom 25%
Profitability
Return on equity (TTM)9% · Above median
Return on assets−1% · Below median
Net margin (TTM)9% · Above median
Operating margin (TTM)1% · Below median
Growth and dividend
Revenue growth25% · Top 25%
Balance sheet
Debt / equity0.41× · Highest 25%
Valuation Multiplesvs Software - Application median · lower = cheaper
P/S (TTM)0.03× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 26
FUTURE (revenue growth)100· sector 39
PAST (return on equity)35· sector 16
HEALTH (low debt)79· sector 97
DIVIDEND (yield)0· sector 33
VALUE 0: the price sits above our fair-value range.
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.
Is Money Forward Inc (MNFYY) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of $2.52 versus a price of $12.00, about −79% upside (overvalued).
What is the fair value of MNFYY?
Our model-based fair value for Money Forward Inc is $2.52 (as of Sep 24, 2026), built from audited fundamentals. The current price: $12.00.
What is the quality score of MNFYY?
Money Forward Inc has a Quality Score of 40/100. 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 price target for Money Forward Inc (MNFYY)?
Our model-based price target is the fair value of $2.52 (as of Sep 24, 2026) from 10 valuation models. Cautious scenario $2.11, optimistic scenario $3.15. It is a calculation from audited fundamentals, not an analyst target.
What is the Money Forward Inc stock forecast for 2026?
Our models put fair value at $2.52, about −79% upside versus a price of $12.00 (overvalued). Cautious scenario $2.11, optimistic scenario $3.15. The calculation is refreshed regularly with new filings.
What is the revenue of Money Forward Inc (MNFYY)?
Money Forward Inc reported trailing-twelve-month revenue of about ¥53.3B (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Money Forward Inc (MNFYY)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Money Forward Inc it is $2.52 per share (as of Sep 24, 2026), against a price of $12.00. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Money Forward Inc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, MNFYY trades above its calculated fair value: price $12.00, fair value $2.52, a gap of about −79% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of MNFYY?
No. The price is what the market pays today ($12.00); the fair value is what the company's own numbers justify ($2.52). For Money Forward Inc the two are $9.48 per share apart. That gap is exactly why we show both numbers side by side.
How much is Money Forward Inc worth?
The market values Money Forward Inc at about $1.3B (market capitalisation, as of Sep 24, 2026). Per share that is $12.00; our models calculate a fair value of $2.52 per share.
What do the bullish and bearish scenarios say about MNFYY?
Our models span a range for Money Forward Inc: cautious scenario $2.11, base $2.52, optimistic $3.15 per share (as of Sep 24, 2026, price $12.00). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Money Forward Inc (MNFYY)?
Balance-sheet figures for Money Forward Inc (as of Sep 24, 2026): return on equity 8.7%, debt of 0.41 per unit of equity. They feed the Quality Score of 40/100, which measures business quality independently of the share price.
How far is MNFYY from its 52-week high?
Money Forward Inc trades at $12.00, at its 52-week high of $12.00 and at the low of $12.00 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of $2.52 is for.
Which stocks are comparable to Money Forward Inc?
From the same area (Technology) we also value SAP SE, Shopify Inc, Uber Technologies, Inc, Salesforce, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Money Forward Inc stock attractive at the current price?
The data as of Sep 24, 2026: price $12.00, calculated fair value $2.52 (−79%), Quality Score 40/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of MNFYY calculated?
We run Money Forward Inc through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $2.52, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.1 % above its aggregate fair value. Money Forward Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Money Forward Inc (MNFYY)?
The closing price on Sep 18, 2026 was $12.00. Our model-based fair value is $2.52, about −79% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Money Forward Inc right now?
The price sits above even our optimistic bull case ($3.15). The favourable scenario is already priced in. Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of Money Forward Inc
How large is the market capitalisation of Money Forward Inc (MNFYY)?
The market capitalisation of Money Forward Inc is $1.3B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Money Forward Inc (MNFYY)?
The price-to-sales ratio of Money Forward Inc is 0.02 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Money Forward Inc (MNFYY)?
Earnings per share at Money Forward Inc are $−0.3900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Money Forward Inc (MNFYY)?
The net margin of Money Forward Inc is 3.2% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Money Forward Inc (MNFYY)?
The return on equity (ROE) of Money Forward Inc is 8.7% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Money Forward Inc (MNFYY)?
On an EBIT basis the return on assets of Money Forward Inc is −5.7% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Money Forward Inc (MNFYY)?
The operating margin of Money Forward Inc is 1.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Money Forward Inc (MNFYY)?
Revenue at Money Forward Inc is growing +25.3% versus a year earlier (3y avg +32.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Money Forward Inc (MNFYY) generate?
The free cash flow of Money Forward Inc is −¥7.6B (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
Free · no account needed
Watch Money Forward Inc in the live analysis
One click puts Money Forward Inc on your watchlist: fair value and trend at a glance, plus comparison, the diversification check and the 35,000+ stock screener. You can also try 14 days of Pro there, no card.
Thin data
Sep 24, 2026