Company Valuation: freee K.K.

Data adjusted to current consolidation scope
Fiscal Period: June 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 558,589 185,782 188,222 141,623 227,424 246,136 - -
Change - -66.74% 1.31% -24.76% 60.58% 8.23% - -
Enterprise Value (EV) 1 511,238 143,811 151,816 114,572 191,635 213,436 213,369 209,058
Change - -71.87% 5.57% -24.53% 67.26% 11.38% -0.03% -2.02%
P/E -186x -15.8x -15.1x -13.9x 165x 110x 76.2x 44.4x
PBR 12x 5.15x 7.32x 8.45x 11.7x 5.62x 10.4x 8.71x
PEG - -0x -4.24x 0.7x -1x -5x 0x 0.6x
Capitalization / Revenue 54.5x 12.9x 9.79x 5.57x 6.84x 2.79x 4.78x 4.02x
EV / Revenue 49.8x 10x 7.9x 4.51x 5.76x 5.07x 4.14x 3.41x
EV / EBITDA -238x -58.4x -19.2x -13.7x 188x 104x 35.2x 21.7x
EV / EBIT -209x -47.3x -19.2x -13.7x 314x 195x 52.2x 28.4x
EV / FCF -190x -45.4x -27.7x -15.4x 53x 128x 73x 31.3x
FCF Yield -0.53% -2.2% -3.61% -6.49% 1.89% 0.78% 1.37% 3.2%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -54.88 -208.2 -215.6 -174.4 23.28 18.2 54.4 93.29
Distribution rate - - - - - - - -
Net sales 1 10,258 14,380 19,219 25,431 33,271 42,442 51,532 61,220
EBITDA 1 -2,146 -2,461 -7,919 -8,387 1,020 2,574 6,063 9,649
EBIT 1 -2,442 -3,042 -7,919 -8,387 611 1,091 4,090 7,358
Net income 1 -2,756 -11,609 -12,338 -10,151 1,370 1,078 3,223 5,518
Net Debt 1 -47,351 -41,971 -36,406 -27,051 -35,790 -32,700 -32,766 -37,078
Reference price 2 10,210.00 3,280.00 3,255.00 2,422.00 3,845.00 4,145.00 4,145.00 4,145.00
Nbr of stocks (in thousands) 54,710 56,641 57,825 58,473 59,148 59,381 - -
Announcement Date 13/08/21 12/08/22 14/08/23 14/08/24 13/08/25 13/08/26 - -
1JPY in Million2JPY
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
25.38x9.37x15.27x0.78% 3,711B
115.09x49.69x80.66x-.--% 419B
60.91x12.87x27.14x-.--% 80.61B
377.46x16.1x63.63x-.--% 76.46B
99.15x8.46x21.44x-.--% 75.47B
37.81x1.89x15.09x-.--% 68.65B
191.6x6.11x23.61x-.--% 47.99B
112.02x4.6x22.35x-.--% 40.14B
27.12x5.59x26.85x-.--% 35.78B
Average 116.28x 12.74x 32.89x 0.09% 506.06B
Weighted average by Cap. 44.11x 13.02x 22.65x 0.64%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield