freee K.K. (4478.T)

Valuation as at 2026-08-29

About freee K.K.

freee K.K. engages in the provision of cloud-based accounting and HR software solutions in Japan. The company offers freee accounting, an integrated cloud-based accounting software for proprietors and corporations; freee HR and labor an integrated cloud-based human resources and labor management software for corporations; freee Sales an integrated cloud-based sales management software for proprietors and corporations; and Freee Tax Return, a cloud-based tax return software to accounting firms and small businesses.

Source: Yahoo Finance company profile · factual description, not KashVector commentary

freee K.K. 4478.T

Technology · Software - Application

Price
¥4435.00
Market Cap
¥263.36B
Free Cash Flow
¥-3.65B
Revenue (TTM)
¥42.44B
Revenue Growth
23.1%
Gross Margin
81.0%
Net Debt
¥-21.89B
52-Week Range
¥1831.00–¥4585.00
Cash runway at current burn rate: 119 months

What does the current price assume?

At the current price, the market appears to be pricing in about 41.9% initial revenue growth, reaching positive free cash flow by year 5.

freee K.K.'s price & financial trends

Data as at 2026-08-29

Share price · last 2 years

¥4230.00 +52% vs 2024-08
Nikkei 225 ¥2779.00¥3285.00¥3845.00¥2998.00¥2266.00¥4230.00 2024-082025-012025-062025-112026-042026-08

Revenue Per year

¥33.27B +131% vs FY22
¥14.38B¥19.22B¥25.43B¥33.27BFY22FY23FY24FY25

Free cash flow Per year

¥-216.3M +93% vs FY22
¥-3.17B¥-5.48B¥-7.43B¥-216.3MFY22FY23FY24FY25

Operating margin trajectory Per year

1.8% +109% vs FY22
-21.2%-41.2%-33.0%1.8%FY22FY23FY24FY25

Growth Score

Good Fit5 of 6 criteria passed
Rule of 40 (Growth % + FCF Margin % >= 40)14.5%
Revenue Growth > 20%23.1%
Gross Margin > 50%81.0%
Cash Runway > 24 Months119 mo
Operating Margin Trajectory Improving-21.2% -> 1.8%
Dilution (Diluted Shares Growth) <= 10%/yr1.9%

Value investing scale · Buffett · Dalio · Graham

Poor Fit
7 / 20 combined score

See the full Buffett, Dalio & Graham breakdown for 4478.T →

The two models, in detail

Each shown with what it says the company is worth today and what growth the current price already implies — not just a single point estimate.

Multi-Stage DCF

¥2432.60
-45.1% margin of safety
Deeply Overvalued

EV / Sales

¥4656.97
+5.0% margin of safety
Fairly Valued
Implied EV/Sales at the current price: 5.69x (vs. today's reported 5.69x)

These numbers come from running freee K.K.'s revenue and margin trajectory through the Multi-Stage DCF and EV/Sales formulas above — not from any view on the news, management, or 4478.T's competitive position. What is a multi-stage DCF?

Want to test your own growth, margin, or discount-rate assumptions?Open the full interactive calculator, pre-filled with 4478.T →

Not financial advice. Multi-Stage DCF and EV/Sales valuations are highly sensitive to assumptions — small changes in growth rate, target margin, or discount rate produce large swings in output. This is a mechanical calculation, not a recommendation to buy, hold, or sell.

About this valuation

Computed on 2026-08-29 from Yahoo Finance data, using the same engine as the full Growth Stock Evaluator. Every figure above is a point-in-time snapshot of that date — change any assumption yourself in the interactive tool for a live one.

Frequently asked questions

Is freee K.K. (4478.T) undervalued?

The Multi-Stage DCF estimates intrinsic value at ¥2432.60 vs a price of ¥4435.00 on 2026-08-29. This is a mechanical output from a model with genuine assumptions built in (target margin, growth fade, reinvestment) — not advice.

What does "implied growth rate" mean?

It's the reverse question: instead of assuming a growth rate and computing a value, this holds every other assumption fixed and asks what initial revenue growth rate would make the model's value equal to today's actual price. It tells you what the market is already betting on, which you can then judge for plausibility yourself.