Want to see JP:8473 full AI Analyst Report?
Top Page
SBI Holdings
(8473)
Select Model
Select Model
Rating:73Outperform
Price Target:
¥3,734.00
▲(9.66% Upside)
Action:Upgraded
Date:08/01/26
The score is driven primarily by attractive valuation (very low P/E with a solid dividend yield). Financial performance is strong on current margins and cash conversion, but is tempered by high leverage and historically volatile earnings/cash flows. Technically, the setup is modestly positive in the short-to-medium term (above 20/50/100-day averages) but still mixed versus the 200-day trend.
Positive Factors
Strong profitability
SBI’s strong current margins indicate substantial earnings power across its financial-services businesses. High operating profitability can support reinvestment, dividends, and resilience over the next several quarters, although maintaining this level depends on business and market conditions.
Negative Factors
High leverage
SBI’s high debt-to-equity ratio leaves less financial flexibility if profitability weakens or funding conditions tighten. Leverage can amplify returns when earnings are strong, but it also increases the sensitivity of the balance sheet and capital allocation options to adverse conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong profitability
SBI’s strong current margins indicate substantial earnings power across its financial-services businesses. High operating profitability can support reinvestment, dividends, and resilience over the next several quarters, although maintaining this level depends on business and market conditions.
Read all positive factors
SBI Holdings (8473) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.97T
Dividend Yield3.47%
Average Volume (3M)2.96M
Price to Earnings (P/E)4.0
Beta (1Y)1.18
Revenue Growth23.11%
EPS Growth103.05%
CountryJP
Employees18,669
SectorFinancial
Sector Strength70
IndustryFinancial - Conglomerates
Share Statistics
EPS (TTM)757.32
Shares Outstanding661,256,600
10 Day Avg. Volume2,948,860
30 Day Avg. Volume2,956,883
Financial Highlights & Ratios
PEG Ratio0.03
Price to Book (P/B)1.02
Price to Sales (P/S)0.96
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥3,956.67Price Target Upside16.20% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)457.36
Revenue Forecast (FY)¥1.57T
SBI Holdings Business Overview & Revenue Model
Company Description
SBI Holdings, Inc. is a Japanese conglomerate primarily engaged in online financial services and strategic investments, both domestically and internationally. Its operations are structured around three key pillars: Financial Services, Asset Manage...
How the Company Makes Money
SBI Holdings makes money through a combination of financial services revenues and investment-related income generated across its operating segments.
1) Securities and related financial services (customer-facing, fee and spread driven)
- Brokerage...
SBI Holdings Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The earnings call portrayed a strong overall performance with record-breaking revenue and significant growth in key segments such as Financial Services and Crypto-Assets. Despite challenges in the Next Gen and Insurance businesses, the company's strategic initiatives and expansion plans, both domestically and internationally, indicate a positive outlook.Positive Updates
Record-Breaking Revenue and Growth
Revenue for FY 2024 was ¥1,443,733 million, up 19.3% year-on-year. Pre-tax income increased by 99.4% to ¥282,290 million, and net income rose by 66.5% to ¥189,158 million. ROE exceeded the target of 10%, reaching 12.8%.
Negative Updates
Challenges in the Next Gen Business
While the Next Gen business hit record high revenue, the pre-tax income remains in the red, with Web3 business still running at a loss.
Read all updates
Q4-2025 Updates
Positive
Negative
Record-Breaking Revenue and Growth
Revenue for FY 2024 was ¥1,443,733 million, up 19.3% year-on-year. Pre-tax income increased by 99.4% to ¥282,290 million, and net income rose by 66.5% to ¥189,158 million. ROE exceeded the target of 10%, reaching 12.8%.
Read all positive updates
Company Guidance
In the fiscal year 2024, the company reported consolidated revenue of ¥1,443,733 million, marking a 19.3% increase year-on-year. Pre-tax income reached ¥282,290 million, up 99.4%, and net income was ¥189,158 million, a 66.5% increase. The return on equity (ROE) surpassed the target of 10%, reaching 12.8%, an increase of 5.8 percentage points. The Financial Services Business segment generated revenue of ¥1.2 trillion, with profits rising by over 30% to ¥225,369 million. The Asset Management division saw income grow by 12.5% to ¥5 billion. The Crypto-Asset business hit record highs, with revenue at ¥80,797 million and pre-tax income up 151.8% at ¥21,220 million. The dividend increased by ¥10 year-on-year to ¥140, with a payout ratio of 31.7%. The company aims to expand its customer base to 100 million by its 30th anniversary and increase consolidated profit before income tax to ¥500 billion. The strategy involves leveraging digital technology and expanding alliances to achieve growth targets.SBI Holdings Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
64
Positive
| Breakdown | TTM | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.02T | 1.90T | 1.35T | 1.19T | 911.97B | 650.48B |
| Gross Profit | 1.50T | 1.12T | 968.76B | 829.91B | 632.92B | 373.96B |
| EBITDA | 989.76B | 584.32B | 581.39B | 404.96B | 278.63B | 487.00B |
| Net Income | 491.04B | 427.58B | 162.12B | 87.24B | 35.45B | 366.85B |
Balance Sheet | ||||||
| Total Assets | 39.19T | 38.29T | 32.11T | 27.14T | 22.31T | 17.84T |
| Cash, Cash Equivalents and Short-Term Investments | 7.27T | 7.34T | 6.26T | 4.58T | 3.78T | 4.86T |
| Total Debt | 7.49T | 7.01T | 7.73T | 6.01T | 5.17T | 3.42T |
| Total Liabilities | 36.71T | 35.88T | 30.35T | 25.23T | 20.56T | 16.25T |
| Stockholders Equity | 1.87T | 1.79T | 1.26T | 1.26T | 1.01T | 924.60B |
Cash Flow | ||||||
| Free Cash Flow | 1.51T | 0.00 | 1.67T | 1.42T | 1.01T | -149.40B |
| Operating Cash Flow | 1.21T | 1.86T | 1.67T | 1.42T | 1.01T | -149.40B |
| Investing Cash Flow | -1.53T | -996.28B | -1.14T | -159.81B | -1.08T | 1.84T |
| Financing Cash Flow | 555.74B | 303.42B | 526.80B | 123.86B | 819.54B | 166.62B |
SBI Holdings Technical Analysis
Negative
3405.00
Price Trends
3148.48
Negative
2978.92
Negative
3064.01
Negative
Market Momentum
-46.34
Positive
42.10
Neutral
17.97
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8473, the sentiment is Negative. The current price of 3405 is above the 20-day moving average (MA) of 3080.83, above the 50-day MA of 3148.48, and above the 200-day MA of 3064.01, indicating a bearish trend. The MACD of -46.34 indicates Positive momentum. The RSI at 42.10 is Neutral, neither overbought nor oversold. The STOCH value of 17.97 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8473.
SBI Holdings Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | ¥79.67B | 13.22 | 20.18% | 5.70% | 23.07% | 33.26% | |
76 Outperform | ¥209.37B | 9.17 | 12.28% | 6.29% | 33.52% | 186.49% | |
75 Outperform | ¥48.35B | 8.73 | 19.48% | 6.49% | 80.81% | 219.32% | |
73 Outperform | ¥1.97T | 4.03 | 28.41% | 3.47% | 23.11% | 103.05% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
60 Neutral | ¥116.04B | 23.33 | 3.72% | 5.97% | -44.57% | -50.48% | |
47 Neutral | ¥20.33B | -32.58 | ― | 1.89% | -25.55% | -139.93% |
* Financial Sector Average
JP:8473
SBI Holdings
2,964.00
-181.61
-5.77%
JP:8624
Ichiyoshi Securities Co
1,517.00
715.59
89.29%
JP:8595
Jafco Co
2,234.00
-146.56
-6.16%
JP:8739
Sparx Group Co
2,500.00
1,015.08
68.36%
JP:8616
Tokai Tokyo Financial Holdings
828.00
282.04
51.66%
JP:3772
Wealth Management Inc
1,059.00
35.46
3.46%
SBI Holdings Corporate Events
SBI Holdings Adjusts Tender Offer Disclosures for BASE After Antitrust Clearance
Sep 8, 2026
SBI Holdings has corrected elements of its previously disclosed tender offer documentation related to its planned acquisition of BASE, Inc. shares. The offer is being conducted through SBINM GK, fully controlled via SBIER, Inc., and targets BASE, ...
SBI Holdings to Lift Brangista Stake Above 20% in Bid to Deepen Digital Media Alliance
Sep 3, 2026
SBI Holdings has decided, via subsidiary SBINM GK, to increase its stake in Brangista Inc. through market purchases on the Tokyo Stock Exchange, aiming to lift its voting rights ratio beyond 20 percent and classify Brangista as an equity-method af...
SBI Holdings Launches Tender Offer and Forms Strategic Alliance With BASE
Aug 28, 2026
SBI Holdings has launched a tender offer, through its wholly owned vehicle SBINM GK, to acquire common shares of e‑commerce platform operator BASE, Inc., which is listed on the Tokyo Stock Exchange Growth Market. In parallel, SBI Holdings ha...
SBI Holdings Posts Strong Q1 FY2026 Results and Lifts Interim Dividend Outlook
Jul 31, 2026
SBI Holdings reported strong interim results for the three months ended June 30, 2026, with revenue climbing 28.8% year on year to ¥571.0 billion and profit attributable to owners of the Company surging 75.0% to ¥148.1 billion. Total com...
SBI’s FOLIO Holdings Files for Tokyo Stock Exchange Listing to Drive Fintech Growth
Jul 30, 2026
SBI Holdings has announced that its consolidated subsidiary FOLIO Holdings Co., Ltd., in which the SBI Group holds a 69.42% stake, has applied for a new listing on the Tokyo Stock Exchange. The move underscores SBI’s strategy to deepen techn...
SBI Holdings Corrects Per-Share Data in 2026 Annual Results
Jul 2, 2026
SBI Holdings has issued a correction to its annual results announcement for the year ended March 31, 2026, revising certain per-share figures in the summary information. The error stemmed from using pre-split share data despite a two-for-one stock...
SBI Holdings to Make Crypto Exchange Bitbank a Wholly Owned Subsidiary
Jun 25, 2026
SBI Holdings has agreed to acquire all shares of crypto asset exchange operator Bitbank via its wholly owned subsidiary SBICAH, executing a cash share transfer from founder Noriyuki Hirosue and other shareholders, followed by a capital increase an...
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.