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Japanese cloud accounting and back-office software company serving small businesses and freelancers.
Japanese cloud accounting and back-office software company serving small businesses and freelancers.
Charges small businesses a monthly subscription, with price tiers by features and number of users, and relies heavily on accountants and tax advisers, who recommend software to their clients, as a sales channel. Because customers keep their books in it, revenue recurs and cancellations are the main thing to watch.
In one line: Japan's answer to QuickBooks Online / Xero.
Moat: narrow (switching costs, brand). Embedded accounting workflows create switching costs, though it competes with several rival cloud vendors.
Headquarters: Tokyo, Japan · Founded: 2012 · Employees: 2,327
Size freee K.K (4478.T) is a Japan Information Technology company (Packaged Software) with a market value of $1.72B, the 525th largest of 1,379 Japan companies the cockpit tracks. Shares closed at ¥4,540 on 6 Nov 2026.
Performance Over six months the shares gained 100.3%, against -4.7% for the median peer and +1.8% for the Japan market (cap-weighted) — highest of 20 in its peer set.
Growth Revenue grew 27.6% over the last twelve months (peer median +17.3%); the operating margin is 2.6% (peer median 9.2%).
Valuation It trades at 79.1× forward earnings against a peer median of 27.4× (3rd most expensive of 18).
Next results Next results expected around 11 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|---|
| Revenue | ¥42.4B | ¥42.4B | ¥33.3B | ¥25.4B | ¥19.2B |
| Revenue growth | — | +28% | +31% | +32% | — |
| Gross profit | ¥34.4B | ¥34.4B | ¥27.4B | ¥21.0B | ¥16.1B |
| EBITDA | ¥2.57B | ¥2.57B | ¥1.02B | -¥8.39B | -¥7.92B |
| Net income | ¥1.08B | ¥1.08B | ¥1.37B | -¥10.2B | -¥12.3B |
| Free cash flow | n/a | ¥909M | ¥3.62B | -¥7.43B | -¥5.44B |
| Capital expenditure | n/a | ¥4.93B | ¥3.88B | ¥663M | ¥731M |
| Total debt | ¥14.3B | ¥14.3B | ¥9.60B | ¥4.70B | ¥0 |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| freee K.K 4478.T | $1.72B | +100% | +28% | 3% | 79.1× | n/a |
| Money Forward 3994.T | $2.52B | +51% | +35% | 2% | 2,235.1× | n/a |
| OBIC Business Consultants 4733.T | $4.74B | +62% | +12% | 47% | 36.1× | 3.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 4478.T | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +29.5% | +5.0% | 3rd highest of 21 |
| 6-month return | +100.3% | -4.7% | highest of 20 |
| Distance from 52-week high | -6.9% | -30.8% | 4th highest of 21 |
| Revenue growth (TTM) | +27.6% | +17.3% | 5th highest of 21 |
| Operating margin | 2.6% | 9.2% | 7th lowest of 21 |
| Forward P/E | 79.1× | 27.4× | 3rd most expensive of 18 |
| EV / EBITDA | 97.0× | 14.7× | most expensive of 11 |
| Net debt / EBITDA | -8.5× | -0.8× | least indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| freee K.K 4478.T | Japan | $1.72B | +100% | +28% | 3% | 79.1× | n/a | n/a |
| TRS Information Technology 300229.SZ | China | $1.71B | -27% | -23% | -76% | n/a | n/a | n/a |
| Adeia ADEA | United States | $1.71B | -47% | +22% | 44% | 11.8× | 2.7% | -13.0% |
| Hacksaw HACK.ST | Sweden | $1.71B | -22% | +21% | 82% | 8.1× | -10.2% | +85.9% |
| Hangzhou Shunwang Technology 300113.SZ | China | $1.70B | -32% | -36% | 26% | 27.1× | 26.2% | +11.0% |
| Wuhan Dameng Database 688692.SS | China | $1.75B | -28% | +28% | 28% | 33.4× | 12.7% | +23.2% |
| Beijing Haizhi Technology 2706.HK | Hong Kong | $1.75B | -31% | +23% | -9% | 208.5× | n/a | n/a |
| Lyntris LYNX | United States | $1.69B | n/a | +16% | 9% | n/a | n/a | n/a |
| Sinosoft 603927.SS | China | $1.77B | -14% | -24% | 2% | 44.3× | 23.0% | +0.9% |
| Kfin Technologies KFINTECH.NS | India | $1.67B | -1% | +27% | 32% | 40.6× | n/a | n/a |
| Sansan 4443.T | Japan | $1.67B | +65% | +22% | 18% | 27.4× | 20.3% | +27.1% |
| Progress Software PRGS | United States | $1.78B | +46% | +6% | 19% | 6.7× | 1.8% | +17.2% |
| Nayax NYAX | United States | $1.78B | -34% | +28% | 5% | 59.1× | 26.9% | +38.7% |
| Wealthfront WLTH | United States | $1.66B | -7% | +18% | -41% | 26.7× | -4.2% | n/a |
| Shadowfax Technologies SHADOWFAX.NS | India | $1.79B | +70% | +69% | 10% | 60.0× | 47.0% | +43.7% |
| Donnelley Financial Solutions DFIN | United States | $1.63B | +56% | +5% | 20% | 12.3× | -4.7% | -3.0% |
| Newborn Town 9911.HK | Hong Kong | $1.63B | -5% | +36% | 12% | 8.8× | -3.5% | +41.3% |
| Nazara Technologies NAZARA.NS | India | $1.62B | +50% | -2% | 3% | 138.0× | n/a | n/a |
| Certara CERT | United States | $1.84B | +91% | +1% | 5% | 31.4× | 40.7% | +11.5% |
| C3.ai AI | United States | $1.84B | +18% | -38% | -198% | n/a | n/a | n/a |
| YOOZOO Interactive 002174.SZ | China | $1.61B | +9% | -1% | -20% | 24.7× | n/a | n/a |