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3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Money Forward's 3-Year ROIIC % for the quarter that ended in Nov. 2025 was 15.50%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Money Forward's 3-Year ROIIC % or its related term are showing as below:
MNYFF's 3-Year ROIIC % is ranked better than 63.49% of 2621
companies
in the Software industry
Industry Median: 5.35
vs MNYFF: 15.50
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Money Forward 3-Year ROIIC % Related Terms
Money Forward 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Money Forward's 3-Year ROIIC % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MNYFF vs UBER, SHOP, CRM: 3-Year ROIIC % Comparison
For the Software - Application subindustry, Money Forward's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Money Forward 3-Year ROIIC % vs Software Industry
For the Software industry and Technology sector, Money Forward's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Money Forward's 3-Year ROIIC % falls into.
Money Forward's 3-Year ROIIC % for the quarter that ended in Nov. 2025 is calculated as:
3-Year ROIIC %
=
3-Year Incremental Net Operating Profit After Taxes (NOPAT)**
/
3-Year Incremental Invested Capital**
=
( -10.997229 (Nov. 2025) - -59.457 (Nov. 2022) )
/
( 572.83 (Nov. 2025) - 317.593 (Nov. 2022) )
=
48.459771
/
255.237
=
18.99%***
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Money Forward (MNYFF) has a 3-Year ROIIC % of 15.50 as of Nov. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Money Forward and its competitors. According to the industry distribution chart, Money Forward ranks #957 out of 2621 companies in the Software industry, placing it in the top 36.5%.
Is Money Forward's 3-Year ROIIC % too high?
Money Forward's current 3-Year ROIIC % is 15.50. The Software industry median 3-Year ROIIC % is 5.35. Money Forward's value of 15.50 is 189.7% above this industry median. Based on the distribution chart, Money Forward ranks #957 out of 2621 companies in the Software industry, which is above the industry midpoint. Overall, Money Forward has a GF Score™ of 61/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Money Forward's 3-Year ROIIC % compare to UBER and SHOP?
According to the Software industry distribution chart, Money Forward ranks #957 out of 2621 companies for 3-Year ROIIC %. This puts Money Forward in the upper half of its industry. The industry median 3-Year ROIIC % is 5.35. Money Forward's value of 15.50 is 189.7% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Software company?
The median 3-Year ROIIC % among Software companies is 5.35, based on 2,621 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Money Forward's current 3-Year ROIIC % of 15.50 is 189.7% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Money Forward and its competitors. For the Software industry, the median 3-Year ROIIC % is 5.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Money Forward's current 3-Year ROIIC % is 15.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Money Forward stock overvalued right now?
Based on GuruFocus' analysis, Money Forward (MNYFF) is currently considered Significantly Undervalued. The stock's GF Value™ is $39.06, compared to a current price of $26.76 — trading 31.5% below its estimated fair value. The current 3-Year ROIIC % is 15.50 and 189.7% above the Software industry median of 5.35. Money Forward's overall GF Score™ is 61/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Money Forward (MNYFF), the current 3-Year ROIIC % is 15.50 as of Nov. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Money Forward (MNYFF) Overvalued in 2026?
Based on GuruFocus' analysis, Money Forward stock appears to be undervalued.
The current stock price of $26.76 is trading 31.5% below its estimated GF Value™ of $39.06.
GuruFocus considers Money Forward to be Significantly Undervalued.
Key valuation signals for MNYFF:
3-Year ROIIC %: 15.50
GF Value™: $39.06 vs. price of $26.76 (31.5% below fair value)
Industry Position: 189.7% above the Software median (#957 of 2621)
No single metric tells the full story. See the MNYFF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Money Forward Inc provides money-related services for individuals and corporations. Its service portfolio comprises personal financial management services and MF cloud services. Its personal financial management services include economic media that conveys money related themes, automatic savings app and mirai talk channel where customers can resolve their financial concerns together directly with financial planners. Its MF Cloud services comprise cloud accounting software, cloud-based tax return, invoice preparation software, payroll calculation, and cloud-based payment reconciliation.
61GF Score
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3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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