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Kioxia Holdings Corporation
(285A)
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Rating:70Outperform
Price Target:
¥19,668.00
▼(-60.66% Downside)
Action:Upgraded
Date:09/30/26
Overall score is driven primarily by a strong financial rebound (rapid growth, high margins, improved leverage, and positive FCF), partially tempered by cyclicality and moderate cash conversion. Technicals are currently neutral-to-weak due to negative MACD and price still below the 100-day average, while valuation appears fair with a ~21x P/E and no dividend support.
Positive Factors
Revenue and Profitability Rebound
TTM revenue growth of about 61% alongside 43% gross margin, 24% net margin and EBITDA above 50% shows a powerful operating rebound. If product mix and pricing remain supportive, this profitability provides more internal funding for technology, capacity and balance-sheet strengthening over the next several quarters.
Negative Factors
Memory-Cycle Earnings Risk
Results have turned from losses in FY2023–FY2024 to exceptional TTM margins, but that history demonstrates meaningful earnings sensitivity to the memory cycle. A downturn in NAND pricing, demand or utilization could compress margins and weaken profits materially over the next 2–6 months.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Profitability Rebound
TTM revenue growth of about 61% alongside 43% gross margin, 24% net margin and EBITDA above 50% shows a powerful operating rebound. If product mix and pricing remain supportive, this profitability provides more internal funding for technology, capacity and balance-sheet strengthening over the next several quarters.
Read all positive factors
Kioxia Holdings Corporation (285A) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥28.81T
Dividend YieldN/A
Average Volume (3M)65.40M
Price to Earnings (P/E)20.8
Beta (1Y)1.71
Revenue Growth132.11%
EPS Growth516.44%
CountryJP
Employees15,249
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)843.26
Shares Outstanding1,645,917,100
10 Day Avg. Volume44,054,522
30 Day Avg. Volume65,403,794
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)7.38
Price to Sales (P/S)4.42
P/FCF Ratio30.79
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥35,530.11Price Target Upside-28.94% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering5
EPS Forecast (FY)3,521.91
Revenue Forecast (FY)¥10.18T
Kioxia Holdings Corporation Business Overview & Revenue Model
Company Description
Kioxia Holdings Corp. primarily oversees and manages its various group companies, all of which operate within the memory storage sector. The corporation is also tasked with developing and implementing the overarching strategic plans for the entire...
How the Company Makes Money
Kioxia makes money primarily by selling NAND flash memory and NAND-based storage products to business and consumer electronics supply chains. Its core revenue stream is the sale of NAND flash memory (including 3D NAND), which is shipped as discret...
Kioxia Holdings Corporation Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
72
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.76T | 2.34T | 1.71T | 1.08T | 1.28T | 1.53T |
| Gross Profit | 2.32T | 1.01T | 569.43B | -52.35B | 126.66B | 413.97B |
| EBITDA | 2.45T | 1.18T | 767.76B | 51.11B | 274.54B | 645.95B |
| Net Income | 1.38T | 554.49B | 272.31B | -243.73B | -138.14B | 105.92B |
Balance Sheet | ||||||
| Total Assets | 4.73T | 3.69T | 2.92T | 2.86T | 2.97T | 3.07T |
| Cash, Cash Equivalents and Short-Term Investments | 791.01B | 470.71B | 167.93B | 187.59B | 261.35B | 469.81B |
| Total Debt | 837.83B | 1.25T | 999.52B | 1.29T | 1.27T | 1.25T |
| Total Liabilities | 2.33T | 2.29T | 2.18T | 2.42T | 2.32T | 2.27T |
| Stockholders Equity | 2.40T | 1.40T | 737.57B | 449.63B | 658.07B | 793.86B |
Cash Flow | ||||||
| Free Cash Flow | 1.14T | 335.48B | 252.57B | -109.33B | -167.28B | 151.58B |
| Operating Cash Flow | 1.42T | 616.54B | 476.42B | 195.11B | 339.10B | 549.13B |
| Investing Cash Flow | -304.71B | -221.51B | -173.01B | -274.85B | -498.56B | -400.30B |
| Financing Cash Flow | -509.16B | -96.07B | -322.68B | 3.24B | -50.79B | -93.28B |
Kioxia Holdings Corporation Technical Analysis
Negative
50000.00
Price Trends
17434.82
Positive
21197.30
Negative
14320.70
Positive
Market Momentum
28.36
Positive
45.71
Neutral
24.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:285A, the sentiment is Negative. The current price of 50000 is above the 20-day moving average (MA) of 18116.57, above the 50-day MA of 17434.82, and above the 200-day MA of 14320.70, indicating a neutral trend. The MACD of 28.36 indicates Positive momentum. The RSI at 45.71 is Neutral, neither overbought nor oversold. The STOCH value of 24.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:285A.
Kioxia Holdings Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ¥28.81T | 20.76 | ― | ― | 132.11% | 516.44% | |
69 Neutral | ¥6.20T | 26.42 | ― | 1.22% | 21.98% | 57.54% | |
68 Neutral | ¥6.52T | 93.34 | 12.58% | 0.11% | 16.71% | 83.19% | |
66 Neutral | ¥1.16T | 27.88 | 17.38% | 0.82% | 21.68% | 48.38% | |
63 Neutral | ¥427.46B | 27.37 | ― | 1.73% | -18.36% | -19.56% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
57 Neutral | ¥428.66B | 25.05 | 7.48% | 1.75% | 7.14% | 2.58% |
* Technology Sector Average
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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.