SBI Holdings Inc (JP:8473)
:8473
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SBI Holdings
(8473)
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Rating:72Outperform
Price Target:
¥3,290.00
▲(11.00% Upside)
Action:ReiteratedDate:02/06/26
The score is driven primarily by strong recent financial performance and cash generation, tempered by high leverage and historical earnings/cash-flow volatility. Valuation is a clear positive due to the low P/E and supportive dividend yield, while technicals are neutral with a broader uptrend but softer near-term positioning.
Positive Factors
Strong cash generation
Robust TTM operating cash flow (~¥2.51T) and free cash flow (~¥2.11T) indicate durable internal cash generation. Reliable FCF supports reinvestment, dividend capacity and strategic investments, enhancing resilience and funding optionality across multi-quarter to multi-year horizons.
Negative Factors
Elevated leverage
A high debt-to-equity ratio (~3.65x) on an asset-heavy balance sheet reduces financial flexibility. Elevated leverage increases refinancing and interest-rate exposure, limits ability to absorb investment losses, and constrains strategic moves during sustained market stress or tightening credit conditions.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash generation
Robust TTM operating cash flow (~¥2.51T) and free cash flow (~¥2.11T) indicate durable internal cash generation. Reliable FCF supports reinvestment, dividend capacity and strategic investments, enhancing resilience and funding optionality across multi-quarter to multi-year horizons.
Read all positive factors
SBI Holdings (8473) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥1.94T
Dividend Yield2.63%
Average Volume (3M)3.32M
Price to Earnings (P/E)3.0
Beta (1Y)1.28
Revenue Growth23.96%
EPS Growth179.16%
CountryJP
Employees19,097
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)N/A
Shares Outstanding660,931,640
10 Day Avg. Volume3,781,230
30 Day Avg. Volume3,316,030
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)0.95
Price to Sales (P/S)0.89
P/FCF Ratio0.72
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
¥4,010.84Price Target Upside35.32% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
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 Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
56
Neutral
Cash Flow
72
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.84T | 1.35T | 1.19T | 911.97B | 650.48B | 521.94B |
| Gross Profit | 1.43T | 968.76B | 829.91B | 632.92B | 373.96B | 336.95B |
| EBITDA | 916.94B | 581.39B | 404.96B | 278.63B | 487.00B | 196.81B |
| Net Income | 410.10B | 162.12B | 87.24B | 35.45B | 366.85B | 81.10B |
Balance Sheet | ||||||
| Total Assets | 37.24T | 32.11T | 27.14T | 22.31T | 17.84T | 7.21T |
| Cash, Cash Equivalents and Short-Term Investments | 7.83T | 6.26T | 4.58T | 3.78T | 4.86T | 3.10T |
| Total Debt | 6.34T | 7.73T | 6.01T | 5.17T | 3.42T | 2.88T |
| Total Liabilities | 34.93T | 30.35T | 25.23T | 20.56T | 16.25T | 6.49T |
| Stockholders Equity | 1.74T | 1.26T | 1.26T | 1.01T | 924.60B | 562.12B |
Cash Flow | ||||||
| Free Cash Flow | 2.56T | 1.67T | 1.42T | 1.01T | -149.40B | -46.95B |
| Operating Cash Flow | 2.56T | 1.67T | 1.42T | 1.01T | -149.40B | -46.95B |
| Investing Cash Flow | -880.42B | -1.14T | -159.81B | -1.08T | 1.84T | -66.65B |
| Financing Cash Flow | 134.02B | 526.80B | 123.86B | 819.54B | 166.62B | 195.40B |
SBI Holdings Technical Analysis
Negative
2964.00
Price Trends
3335.94
Negative
3354.65
Negative
3176.49
Negative
Market Momentum
-92.94
Negative
41.53
Neutral
39.01
Neutral
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 2964 is below the 20-day moving average (MA) of 3054.70, below the 50-day MA of 3335.94, and below the 200-day MA of 3176.49, indicating a bearish trend. The MACD of -92.94 indicates Negative momentum. The RSI at 41.53 is Neutral, neither overbought nor oversold. The STOCH value of 39.01 is Neutral, 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | ¥59.71B | 10.05 | 17.21% | 4.27% | 7.60% | 7.20% | |
76 Outperform | ¥42.63B | 7.03 | 6.18% | 4.42% | 1.56% | -9.90% | |
72 Outperform | ¥1.94T | 3.01 | 20.02% | 2.63% | 23.96% | 179.16% | |
72 Outperform | ¥185.28B | 7.61 | 7.40% | 5.60% | 3.10% | 17.73% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
65 Neutral | ¥120.10B | 8.60 | 5.11% | 5.07% | -19.64% | -31.08% | |
44 Neutral | ¥19.54B | 169.87 | ― | 1.85% | -40.77% | -91.81% |
* Financial Sector Average
JP:8473
SBI Holdings
2,964.00
893.85
43.18%
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11.10%
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344.17
22.05%
JP:8616
Tokai Tokyo Financial Holdings
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256.99
52.55%
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25.27
2.48%
SBI Holdings Corporate Events
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...
SBI Holdings links 2026 shareholder perks to XRP vouchers and ALApromo goods
Feb 4, 2026
The board approved a March 31, 2026 shareholder record-date benefit program that lets investors choose either XRP vouchers via SBI VC Trade or a package of high-value supplements and cosmetics from SBI ALApromo, with enhanced rewards for long-term...
SBI Holdings Posts Surge in Nine-Month Profit and Raises Interim Dividend After Stock Split
Feb 4, 2026
SBI Holdings reported strong consolidated results for the nine months ended December 31, 2025, with revenue rising 47% year on year to ¥1,489.7 billion and profit attributable to owners of the company surging 245.1% to ¥349.1 billion. Ba...
SBI Holdings Reports Progress on ¥50 Billion Share Buyback Program
Feb 2, 2026
SBI Holdings has disclosed the progress of its ongoing share buyback program authorized by its board in November 2025, conducted under Japan’s Companies Act. In January 2026 the company repurchased 2,904,000 common shares on the Tokyo Stock ...
SBI Holdings Finalizes Terms for 2025 Tax-Qualified Stock Options
Jan 26, 2026
SBI Holdings has finalized the terms for its 2025 second issuance of tax-qualified stock options, allocating 32,502 stock acquisition rights linked to 3,250,200 shares of common stock to 731 employees and executive officers across the parent compa...
SBI Holdings Reports Progress on ¥50 Billion Share Buyback Program
Jan 5, 2026
SBI Holdings has disclosed the progress of its ongoing share buyback program authorized by its board in November 2025, under which the company repurchased 7,784,300 common shares on the Tokyo Stock Exchange in December 2025 at a total cost of appr...
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.