Base Inc
TSE:4477

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Base Inc
TSE:4477
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Price: 292 JPY 1.39% Market Closed
Market Cap: ¥34.4B

EV/S

0.4
Current
56%
Cheaper
vs 3-y average of 0.8

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
0.4
=
Enterprise Value
¥8.8B
/
Revenue
¥20.7B

Enterprise Value to Sales (EV/S) ratio compares a company`s total enterprise value to its revenue. It shows how much investors are paying for each dollar of the company`s sales, including both equity and debt.

EV/S
0.4
=
Enterprise Value
¥8.8B
/
Revenue
¥20.7B

Valuation Scenarios

Base Inc is trading below its 3-year average

If EV/S returns to its 3-Year Average (0.8), the stock would be worth ¥656.84 (125% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+296%
Average Upside
208%
Scenario EV/S Value Implied Price Upside/Downside
Current Multiple 0.4 ¥292
0%
3-Year Average 0.8 ¥656.84
+125%
5-Year Average 1.2 ¥914.43
+213%
Industry Average 1.5 ¥1 156.46
+296%
Country Average 1.1 ¥872.58
+199%

Forward EV/S
Today’s price vs future revenue

Today's Enterprise Value Revenue Forward EV/S
¥8.8B
/
Jan 2026
¥20.7B
=
0.4
Current
¥8.8B
/
Dec 2026
¥25.9B
=
0.3
Forward
¥8.8B
/
Dec 2027
¥31.3B
=
0.3
Forward
¥8.8B
/
Dec 2028
¥35.2B
=
0.2
Forward

Forward EV/S shows whether today’s EV/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
EV/S
P/E
All Countries
Close
Market Cap EV/S P/E
JP
Base Inc
TSE:4477
33.6B JPY 0.4 18.4
CA
Shopify Inc
NASDAQ:SHOP
159.1B USD 13.5 131
US
Cloudflare Inc
NYSE:NET
73.4B USD 33 -717.4
US
Snowflake Inc.
NYSE:SNOW
49B USD 10.2 -36.8
US
Snowflake Inc
XETRA:5Q5
41.8B EUR 9.9 -36.1
ID
DCI Indonesia Tbk PT
IDX:DCII
474T IDR 187.1 473.4
US
Verisign Inc
NASDAQ:VRSN
24.6B USD 15.4 29.3
US
Twilio Inc
NYSE:TWLO
21.7B USD 4 639.6
US
MongoDB Inc
NASDAQ:MDB
20.8B USD 7.5 -292.1
US
Akamai Technologies Inc
NASDAQ:AKAM
13.8B USD 4.1 30.7
US
Okta Inc
NASDAQ:OKTA
13.5B USD 3.8 57.5
P/E Multiple
Earnings Growth PEG
JP
Base Inc
TSE:4477
Average P/E: 197.1
18.4
21%
0.9
CA
Shopify Inc
NASDAQ:SHOP
131
53%
2.5
US
Cloudflare Inc
NYSE:NET
Negative Multiple: -717.4 N/A N/A
US
Snowflake Inc.
NYSE:SNOW
Negative Multiple: -36.8 N/A N/A
US
Snowflake Inc
XETRA:5Q5
Negative Multiple: -36.1 N/A N/A
ID
DCI Indonesia Tbk PT
IDX:DCII
473.4
N/A N/A
US
Verisign Inc
NASDAQ:VRSN
29.3
9%
3.3
US
Twilio Inc
NYSE:TWLO
639.6
222%
2.9
US
MongoDB Inc
NASDAQ:MDB
Negative Multiple: -292.1 N/A N/A
US
Akamai Technologies Inc
NASDAQ:AKAM
30.7
42%
0.7
US
Okta Inc
NASDAQ:OKTA
57.5
54%
1.1

Market Distribution

Lower than 88% of companies in Japan
Percentile
12th
Based on 5 140 companies
12th percentile
0.4
Low
0 — 0.7
Typical Range
0.7 — 2
High
2 —
Distribution Statistics
Japan
Min 0
30th Percentile 0.7
Median 1.1
70th Percentile 2
Max 12 107 466

Base Inc
Glance View

Market Cap
34.4B JPY
Industry
Technology

BASE, Inc. engages in web service planning, development and operations. The company is headquartered in Minato-Ku, Tokyo-To. The company went IPO on 2019-10-25. The firm operates through two business segments. The BASE segment is engaged in the provision of e-commerce platform that provides online shop creation services and shopping mall apps that allow customers to purchase products from the shops established there. The PAY segment is engaged in the development of PAY.JP, which allows easy introduction of online payments to Web services and existing online shops, as well as PAY ID, which provides unique ID payment services.

Intrinsic Value
341.53 JPY
Undervaluation 15%
Intrinsic Value
Price ¥292
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