S B S Holdings, Inc. (2384) AI Stock Analysis

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S B S Holdings, Inc.

(TSE/TYO:2384)

Select Model

Rating:78Outperform

Price Target:JPY 6,407.00▲(10.09% Upside)

Action:reiterated

Date:08/19/26

The overall score of 78 reflects a company with solid financial fundamentals and attractive valuation, partially offset by short-term technical caution. The most significant positive factors are the exceptional cash flow generation and improved balance sheet strength, which signal a healthy and de-risked financial position. The low P/E ratio further enhances the investment case. The primary risk is the stock's technically overbought condition, which could lead to a near-term pullback despite the strong underlying business performance.

Positive Factors

Revenue GrowthThe 2025 revenue rebound, following a prior dip, indicates resilient business activity and improving volume or price mix. Continued top-line growth would support scale, help absorb fixed costs, and provide a durable base for earnings improvement over the next several quarters.

Negative Factors

Thin Profit MarginsLow net margins leave limited room to absorb cost increases, weaker pricing, or operational disruption. The softening in operating and EBITDA margins also indicates constrained operating leverage, making sustained earnings expansion more dependent on revenue growth than on broad margin improvement.

S B S Holdings, Inc. (2384) vs. iShares MSCI Japan ETF (EWJ)

Market Cap: JPY 231.16B
Dividend Yield: 1.55%
Average Volume (3M): 99.63K
Price to Earnings (P/E): 11.6
Beta (1Y): 0.51
Revenue Growth: 17.07%
EPS Growth: 36.03%
Country: Japan
Employees: 11,772
Sector: Industrials
Sector Strength: 63
Industry: Integrated Freight & Logistics

S B S Holdings, Inc. Business Overview & Revenue Model

Company Description

SBS Holdings, Inc. is a Tokyo, Japan-based enterprise that operates extensively in the logistics sector, both within Japan and internationally. The company facilitates product movement through diverse transportation methods, including truck and train...

S B S Holdings, Inc. Financial Statement Overview

Summary

Strong financial health driven by a 7.8% revenue increase, 22.5% net income growth, and a significantly improved debt-to-equity ratio of 1.10. Cash flow was exceptional, with operating cash flow more than doubling to ¥35.4 billion, indicating robust operational efficiency and reduced financial risk.

Income Statement

78Positive

Balance Sheet

82Very Positive

Cash Flow

85Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	556.06B	490.34B	448.14B	431.91B	455.48B	403.49B
Gross Profit	69.70B	55.74B	49.84B	50.14B	50.54B	46.72B
EBITDA	48.14B	35.25B	30.37B	30.32B	33.74B	31.11B
Net Income	19.92B	11.78B	9.62B	10.06B	11.73B	10.79B
Balance Sheet
Total Assets	357.32B	346.85B	317.29B	301.32B	296.90B	277.20B
Cash, Cash Equivalents and Short-Term Investments	39.17B	22.55B	29.70B	29.67B	32.67B	23.80B
Total Debt	100.84B	106.71B	104.51B	101.59B	104.09B	98.66B
Total Liabilities	222.19B	220.30B	204.33B	198.72B	204.72B	196.49B
Stockholders Equity	104.56B	96.72B	88.22B	79.58B	70.38B	60.67B
Cash Flow
Free Cash Flow	0	22.39B	2.70B	4.30B	5.33B	14.61B
Operating Cash Flow	0	35.43B	15.81B	14.11B	22.41B	27.47B
Investing Cash Flow	0	-28.54B	-16.72B	-10.18B	-15.89B	-22.34B
Financing Cash Flow	0	-14.85B	-1.29B	-7.65B	489.00M	-9.28B

S B S Holdings, Inc. Technical Analysis

Technical Analysis SentimentPositive

Last Price5820.00

Price Trends

50DMA5386.60Positive

100DMA4965.40Positive

200DMA4612.18Positive

Market Momentum

MACD83.23Positive

RSI56.20Neutral

STOCH39.78Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:2384, the sentiment is Positive. The current price of 5820.00 is above the 20-day moving average (MA) of 5727.50, above the 50-day MA of 5386.60, and above the 200-day MA of 4612.18, indicating a bullish trend. The MACD of 83.23 indicates Positive momentum. The RSI at 56.20 is Neutral, neither overbought nor oversold. The STOCH value of 39.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for JP:2384.

S B S Holdings, Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (63)

Financial Indicators

JP:2384 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
JP:9025	83Outperform	JPY 160.87B	12.17	―	3.70%	0.07%	3.93%
JP:2384	78Outperform	JPY 223.21B	11.60	―	1.55%	17.07%	36.03%
JP:9069	73Outperform	JPY 401.59B	12.78	9.24%	2.18%	9.95%	93.93%
JP:9302	65Neutral	JPY 249.50B	19.65	―	1.54%	10.01%	25.17%
Sector *	63Neutral	$10.79B	15.43	7.44%	2.01%	2.89%	-14.66%
JP:9143	63Neutral	JPY 957.76B	16.29	10.89%	3.36%	14.73%	17.59%
JP:9147	61Neutral	JPY 1.40T	93.52	―	1.64%	5.73%	68.03%

* Industrials Sector Average

Performance Comparison

JP:2384 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
JP:2384	S B S Holdings, Inc.	5820.00	2240.91	62.61%
JP:9143	SG Holdings Co	1609.00	121.77	8.19%
JP:9069	SENKO Group Holdings Co.Ltd.	2524.00	747.91	42.11%
JP:9025	Konoike Transport Co., Ltd.	2969.00	105.47	3.68%
JP:9147	NIPPON EXPRESS HOLDINGS,INC.	6102.00	2892.39	90.12%
JP:9302	MITSUI-SOKO HOLDINGS Co., Ltd.	3215.00	-568.57	-15.03%

S B S Holdings, Inc. Corporate Events

SBS Holdings Reports Nine-Month 2026 Revenue and Profit Growth

Nov 13, 2026

For the nine months ended September 30, 2026, SBS Holdings reported net sales of ¥438,543 million, up 20.4% year on year, while operating income rose 32.5% to ¥22,939 million, ordinary income increased 32.2% to ¥22,941 million, and net income attribu...

SBS Holdings to Acquire Mitsubishi Chemical Logistics and Expand Chemical Logistics Footprint

Sep 28, 2026

SBS Holdings has agreed to acquire all outstanding shares of Mitsubishi Chemical Logistics Corporation, a major Japanese provider of chemical and hazardous materials logistics, from Mitsubishi Chemical Corporation, with completion targeted for April...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Aug 19, 2026

S B S Holdings, Inc. AI Stock Analysis