The Leatherman Free P4 was the tool that introduced FREE, the magnetic architecture that later went into the Arc: the handles close on magnets, every tool swings out one-handed and locks, and the whole thing opens with a thumb instead of a fingernail. It has 21 tools, weighs about 8.6 ounces, and is 4.25 inches closed. This review covers how it holds up, how it compares to the P2 and the Arc, and how to carry it.
Leatherman Free P4 specs
| Spec | Detail |
|---|---|
| Tools | 21, all one-hand opening and locking |
| Architecture | FREE magnetic |
| Blade | 420HC, plain and serrated |
| Closed length | About 4.25 inches |
| Weight | About 8.6 ounces |
| Warranty | 25 years |
What FREE feels like
Pick up a Wave and you pinch a blade out with a fingernail. Pick up a P4 and you push a tool out with your thumb; it swings, it clicks, it locks. Closing it is a press on the release. The magnets hold the handles shut without any friction, so the P4 opens with one hand every time and never binds. After a week with a P4, a friction-fit multitool feels like work.
The 21 tools
Pliers, plain and serrated blades, a saw, scissors, a file, a package opener, an awl, a can and bottle opener, a ruler, and a set of drivers, all of them locking and all accessible from the outside. The plier head is spring-loaded. Nothing on the P4 needs two hands to reach.
P4 vs P2
The P2 is the same architecture with 19 tools at about 7.6 ounces, dropping the saw and one blade. If you never use the saw, the P2 is the lighter carry. Both have their own molded sheath, because the bodies differ.
P4 vs Arc
The Arc is the P4's successor in spirit: the same FREE design with a MagnaCut blade and a DLC coating at a much higher price. The P4 has the same one-hand experience with a 420HC blade. If the blade steel is not your priority, the P4 is the FREE tool to buy.
Carrying it
A tool held closed by magnets should not be held in a pouch by friction. The kydex sheath for the Free P4 is molded to the body, clicks, adjusts for retention, and draws one-handed, which matches how the tool opens.
The honest trade-off vs the Wave+
The P4 is not a straight upgrade from a Wave+, and owners who expected one are the disappointed ones. What it gives: every tool one-handed, magnets instead of friction, a smoother interface. What it gives up: the Wave's bit driver (the P4 has fixed drivers, including a flat Phillips that is a compromise), a smaller file and awl, and generally simpler inside tools. If you use the bit kit or the file, stay with the Wave+; if you want one-hand everything, the P4 is the way to get it under the Arc's price.
Frequently asked questions
How many tools does the Free P4 have?
21, all one-hand opening and locking.
What is the difference between the Free P4 and P2?
The P4 has 21 tools including a saw and a second blade; the P2 has 19 and is about an ounce lighter.
Is the Free P4 better than the Wave+?
For one-hand use of every tool, yes. The Wave+ is cheaper and has outside-accessible blades but two-hand inside tools.
Does a Free P4 sheath fit the Arc?
No. The Arc has its own sheath.
What steel is the P4 blade?
420HC.
The bottom line
The Free P4 is the best way to get Leatherman's one-hand magnetic design without paying for the Arc. Put it in a sheath molded to it.
Related reading
Best sheath for the Free P4 and P2
Leatherman Arc review
Best multitools in 2026
