SBI Holdings Inc (JP:8473)
:8473
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SBI Holdings
(8473)
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Rating:72Outperform
Price Target:
¥3,504.00
▲(13.40% Upside)
Action:ReiteratedDate:05/02/26
The score is driven primarily by improving financial performance (strong TTM growth, profitability, and cash generation) and very favorable valuation (low P/E and solid dividend yield). These positives are tempered by balance-sheet leverage and historical earnings/cash-flow volatility, while technical indicators are only moderately supportive rather than strongly bullish.
Positive Factors
Revenue Growth
SBI's sharp, recent revenue expansion and TTM acceleration indicate durable top-line momentum driven by higher customer activity and product uptake across businesses. Sustained revenue growth supports scale economies, fee income durability and provides a foundation for reinvestment and margin maintenance over coming months.
Negative Factors
Elevated Leverage
Material debt levels relative to equity constrain financial flexibility and raise interest and refinancing vulnerability. In a downturn or if earnings weaken, higher leverage can force deleveraging or curb strategic investments, increasing execution risk and limiting the firm's ability to deploy capital over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
SBI's sharp, recent revenue expansion and TTM acceleration indicate durable top-line momentum driven by higher customer activity and product uptake across businesses. Sustained revenue growth supports scale economies, fee income durability and provides a foundation for reinvestment and margin maintenance over coming months.
Read all positive factors
SBI Holdings (8473) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥2.09T
Dividend Yield2.63%
Average Volume (3M)3.32M
Price to Earnings (P/E)5.9
Beta (1Y)1.29
Revenue Growth31.37%
EPS Growth148.24%
CountryJP
Employees19,097
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)664.84
Shares Outstanding661,122,600
10 Day Avg. Volume3,781,230
30 Day Avg. Volume3,316,030
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
¥3,882.00Price Target Upside25.63% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering5
EPS Forecast (FY)461.24
Revenue Forecast (FY)¥1.46T
SBI Holdings Business Overview & Revenue Model
Company Description
SBI Holdings, Inc. engages in the online financial service businesses and investment activities in Japan and internationally. It operates through Financial Services Business; Asset Management Business; and Biotechnology, Healthcare and Medical Inf...
How the Company Makes Money
SBI Holdings makes money primarily through a mix of (1) financial services earnings generated by its operating subsidiaries and (2) investment-related income. In its financial services businesses, revenue is driven by fees and commissions (such as...
SBI Holdings Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Jul 30, 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
52
Neutral
Cash Flow
70
Positive
| Breakdown | Mar 2026 | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.90T | 1.35T | 1.19T | 911.97B | 650.48B |
| Gross Profit | 1.12T | 968.76B | 829.91B | 632.92B | 373.96B |
| EBITDA | 584.32B | 581.39B | 404.96B | 278.63B | 487.00B |
| Net Income | 427.58B | 162.12B | 87.24B | 35.45B | 366.85B |
Balance Sheet | |||||
| Total Assets | 38.29T | 32.11T | 27.14T | 22.31T | 17.84T |
| Cash, Cash Equivalents and Short-Term Investments | 7.34T | 6.26T | 4.58T | 3.78T | 4.86T |
| Total Debt | 7.01T | 7.73T | 6.01T | 5.17T | 3.42T |
| Total Liabilities | 35.88T | 30.35T | 25.23T | 20.56T | 16.25T |
| Stockholders Equity | 1.79T | 1.26T | 1.26T | 1.01T | 924.60B |
Cash Flow | |||||
| Free Cash Flow | 0.00 | 1.67T | 1.42T | 1.01T | -149.40B |
| Operating Cash Flow | 1.86T | 1.67T | 1.42T | 1.01T | -149.40B |
| Investing Cash Flow | -996.28B | -1.14T | -159.81B | -1.08T | 1.84T |
| Financing Cash Flow | 303.42B | 526.80B | 123.86B | 819.54B | 166.62B |
SBI Holdings Technical Analysis
Positive
3090.00
Price Trends
3099.38
Positive
3216.19
Negative
3136.16
Positive
Market Momentum
36.11
Negative
57.47
Neutral
91.10
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8473, the sentiment is Positive. The current price of 3090 is above the 20-day moving average (MA) of 3005.28, below the 50-day MA of 3099.38, and below the 200-day MA of 3136.16, indicating a bullish trend. The MACD of 36.11 indicates Negative momentum. The RSI at 57.47 is Neutral, neither overbought nor oversold. The STOCH value of 91.10 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥59.99B | 10.05 | 17.21% | 4.27% | 11.13% | 20.95% | |
72 Outperform | ¥2.09T | 5.92 | 20.02% | 2.63% | 31.37% | 148.24% | |
70 Outperform | ¥40.80B | 6.17 | 6.18% | 4.42% | 30.88% | 193.36% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
67 Neutral | ¥113.30B | 30.49 | 5.11% | 5.07% | -26.93% | -29.39% | |
67 Neutral | ¥170.87B | 10.15 | 7.40% | 5.60% | 15.68% | 49.07% | |
44 Neutral | ¥20.85B | 169.87 | ― | 1.85% | -39.21% | -56.51% |
* Financial Sector Average
JP:8473
SBI Holdings
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SBI Holdings Corporate Events
SBI Holdings Lowers Conversion Price on 2031 Zero Coupon Convertible Bonds After Extraordinary Dividend
May 1, 2026
SBI Holdings, Inc. has adjusted the conversion price on its Zero Coupon Convertible Bonds due 2031, lowering it from ¥2,335.7 to ¥2,284.0 per share on a post–stock split basis. The revised conversion price applies retroactively fro...
SBI Holdings Posts Surge in Profit and Strengthens Balance Sheet for FY2026
May 1, 2026
SBI Holdings reported strong consolidated results for the year ended March 31, 2026, with revenue rising 31.4% to ¥1.90 trillion and profit attributable to owners of the company surging 163.7% to ¥427.58 billion. Earnings growth was supp...
SBI Holdings Books ¥67.4 Billion Gain from Kyobo Life Acquisition
Apr 27, 2026
SBI Holdings has completed the acquisition of shares in South Korea’s Kyobo Life Insurance, making the Seoul-based insurer an equity-method affiliate. The deal advances SBI’s strategy of deepening its footprint in Asian insurance marke...
SBI Holdings Cedes Control of Korean Savings Bank but Retains Strong Economic Stake
Apr 6, 2026
SBI Holdings has completed the sale of a majority stake in its South Korean unit, SBI Savings Bank, to Kyobo Life Insurance, transferring 156,147,223 shares for a total consideration of KRW 900 billion. Following the transaction, SBI’s votin...
SBI Holdings to Make Star Music Entertainment a Subsidiary in Media Ecosystem Push
Mar 30, 2026
SBI Holdings has signed a basic agreement to acquire all shares of Star Music Entertainment from Ridge-i, turning the music and social media marketing firm into a consolidated subsidiary. The deal is intended to fold Star Music into the SBI Neo-me...
SBI Holdings Strikes Capital and IP Alliance With TOKYO GIRLS COLLECTION Operator
Mar 27, 2026
SBI Holdings has entered a capital and business alliance with W TOKYO Inc., operator of the influential TOKYO GIRLS COLLECTION fashion festival, to collaborate on value creation for intellectual property and content in media and entertainment. SBI...
SBI Holdings Launches Trading of Retail Security Token Bonds on ODX START
Mar 25, 2026
SBI Holdings has completed the issuance of its first security token corporate bonds for individual investors, branded as SBI START Bonds, with a total issue size of JPY 10 billion and an annual interest rate of 2.15%. The three-year unsecured bond...
SBI Holdings Brings Shinsei Bank Under Direct Control After Public Fund Exit
Mar 19, 2026
SBI Holdings is reshaping its banking structure as wholly owned unit SBI Regional Bank Holdings will distribute all of its shares in SBI Shinsei Bank to the parent via a dividend-in-kind, effectively converting the lender from a second-tier subsid...
SBI Holdings Alters Terms of SBI Savings Bank Stake Sale to Kyobo Life
Mar 18, 2026
SBI Holdings has amended the terms of its planned partial sale of shares in South Korea-based SBI Savings Bank to Kyobo Life Insurance, revising the final transfer deadline to no later than March 31, 2026, subject to mutual agreement. The governan...
SBI Holdings Lifts Year-End Dividend Forecast and Signals Strong Shareholder Returns
Mar 13, 2026
SBI Holdings has revised its dividend forecast for the fiscal year ending March 31, 2026, setting the year-end dividend at JPY 75 per share following a two-for-one stock split that took effect in December 2025. The new payout is equivalent to JPY ...
SBI Holdings to Launch First Blockchain-Based Security Token Bonds for Retail Investors
Feb 20, 2026
SBI Holdings plans its first issuance of Security Token bonds for individual investors, dubbed SBI START Bonds, totaling ¥10 billion and managed on the ibet for Fin blockchain instead of the conventional JASDEC system. The bonds, to be traded...
SBI Holdings Completes Nearly ¥50 Billion Share Buyback
Feb 18, 2026
SBI Holdings has completed a share buyback program authorized by its board in November 2025, acquiring 4,001,900 common shares on the market between February 2 and 17, 2026, for a total of about ¥13.9 billion. This portion of the repurchase f...
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.