Monex Group Inc (JP:8698)
:8698
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Monex Group
(8698)
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Rating:56Neutral
Price Target:
¥700.00
▼(-5.41% Downside)
Action:Reiterated
Date:05/14/26
The score is driven primarily by middling financial quality due to volatile earnings and especially inconsistent cash flow, despite improved leverage and a 2026 rebound. Technicals are weak with the stock below key moving averages and negative MACD, but valuation is a positive offset with a mid-teens P/E and strong dividend yield.
Positive Factors
Leverage Improvement
A materially lower debt-to-equity ratio and more stable equity through 2024–2026 meaningfully improve financial flexibility and reduce refinancing risk. This stronger capital structure supports sustained investment in platforms, dividend capacity and resilience to market stress over the medium term.
Negative Factors
Inconsistent Cash Generation
Highly variable operating and free cash flow undermines the predictability of internal funding for growth, dividends and debt servicing. Persistent swings mean management may need external financing in weak years, constraining strategic flexibility and raising funding cost risk over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Leverage Improvement
A materially lower debt-to-equity ratio and more stable equity through 2024–2026 meaningfully improve financial flexibility and reduce refinancing risk. This stronger capital structure supports sustained investment in platforms, dividend capacity and resilience to market stress over the medium term.
Read all positive factors
Monex Group (8698) vs. iShares MSCI Japan ETF (EWJ)
Market Cap
¥168.57B
Dividend Yield4.16%
Average Volume (3M)2.13M
Price to Earnings (P/E)14.5
Beta (1Y)0.75
Revenue Growth46.50%
EPS GrowthN/A
CountryJP
Employees1,052
SectorFinancial
Sector Strength70
IndustryFinancial - Capital Markets
Share Statistics
EPS (TTM)-21.90
Shares Outstanding251,647,100
10 Day Avg. Volume1,436,850
30 Day Avg. Volume2,132,950
Financial Highlights & Ratios
PEG Ratio-0.05
Price to Book (P/B)1.33
Price to Sales (P/S)1.90
P/FCF Ratio180.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)44.34
Revenue Forecast (FY)¥76.23B
Monex Group Business Overview & Revenue Model
Company Description
Monex Group, Inc., together with its subsidiaries, provides retail online brokerage services to individual investors and businesses in Japan, the United States, and the Asia-Pacific. It offers international forex, asset management, investor educat...
How the Company Makes Money
Monex Group makes money primarily through its online brokerage and investment-related businesses. Key revenue streams typically include (1) brokerage commissions and transaction-related fees earned when customers trade financial products (e.g., eq...
Monex Group Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
57
Neutral
Cash Flow
41
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 76.03B | 88.51B | 76.08B | 64.10B | 52.69B | 86.93B |
| Gross Profit | 70.44B | 85.36B | 66.16B | 54.42B | 35.33B | 69.99B |
| EBITDA | 4.84B | 24.45B | 7.04B | 37.92B | 16.63B | 34.35B |
| Net Income | -5.68B | 10.91B | -5.83B | 12.51B | 3.39B | 13.02B |
Balance Sheet | ||||||
| Total Assets | 718.74B | 746.77B | 709.64B | 761.64B | 1.50T | 1.61T |
| Cash, Cash Equivalents and Short-Term Investments | 404.54B | 431.35B | 53.47B | 97.94B | 181.02B | 261.30B |
| Total Debt | 105.61B | 57.73B | 87.02B | 100.16B | 594.56B | 585.65B |
| Total Liabilities | 598.65B | 616.80B | 583.39B | 628.52B | 1.40T | 1.50T |
| Stockholders Equity | 117.99B | 126.40B | 123.98B | 131.71B | 99.64B | 104.29B |
Cash Flow | ||||||
| Free Cash Flow | -15.64B | 935.00M | 8.73B | 1.36B | -38.78B | 45.09B |
| Operating Cash Flow | -15.34B | 1.46B | 13.30B | 8.05B | -30.98B | 51.70B |
| Investing Cash Flow | -20.66B | -19.47B | -32.18B | -86.35B | -21.87B | -6.03B |
| Financing Cash Flow | -11.69B | -108.00M | -25.19B | -5.11B | -34.16B | 13.76B |
Monex Group Technical Analysis
Negative
740.00
Price Trends
685.62
Negative
697.02
Negative
722.91
Negative
Market Momentum
-7.32
Positive
42.10
Neutral
38.76
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For JP:8698, the sentiment is Negative. The current price of 740 is above the 20-day moving average (MA) of 672.05, above the 50-day MA of 685.62, and above the 200-day MA of 722.91, indicating a bearish trend. The MACD of -7.32 indicates Positive momentum. The RSI at 42.10 is Neutral, neither overbought nor oversold. The STOCH value of 38.76 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for JP:8698.
Monex Group Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | ¥87.03B | 7.80 | ― | 5.75% | 30.59% | 55.29% | |
70 Outperform | ¥202.87B | 7.69 | ― | 4.01% | 21.03% | 85.36% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
66 Neutral | ¥2.02T | 10.14 | 9.37% | 4.13% | 6.95% | 15.03% | |
65 Neutral | ¥251.91B | 15.69 | 14.00% | 5.13% | 34.33% | 47.34% | |
59 Neutral | ¥3.70T | 11.81 | 10.23% | 3.93% | 0.46% | 6.87% | |
56 Neutral | ¥168.57B | 14.51 | 7.26% | 4.16% | 46.50% | ― |
* Financial Sector Average
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Monex Group Corporate Events
Monex Group Reaffirms Tech-Driven Philosophy in FY2026 Outlook
May 12, 2026
Monex Group outlined its corporate philosophy in conjunction with financial results for the fiscal year ending March 31, 2026, emphasizing a mission to stay ahead of evolving money trends and support individuals at the forefront of financial innov...
Monex’s Coincheck Brings In KDDI as Strategic Investor and Alliance Partner
May 12, 2026
Monex Group’s subsidiary Coincheck Group N.V. will issue new shares to KDDI Corporation, which will invest about $65 million at $2.28 per share to acquire a 14.9% stake, bolstering Coincheck Group’s financial flexibility while Monex re...
Monex Group to Introduce Virtual-Only Shareholder Meetings and Shift Record Date
May 12, 2026
Monex Group plans to overhaul its shareholder meeting framework by introducing the option of virtual-only general meetings, allowing all shareholders to participate online, exercise voting rights and ask questions under the same conditions regardl...
Monex Group Swings Back to Profit on Higher Fees and Absence of One-Off Costs
May 12, 2026
Monex Group reported a strong rebound in earnings for the fiscal year ended March 31, 2026, with revenue rising 13.3% to ¥83.6 billion and profit attributable to owners swinging from a ¥5.1 billion loss to ¥10.9 billion in profit. T...
Monex Group Raises Year-End Dividend Forecast and Sets 15% ROE Target
May 12, 2026
Monex Group has updated its dividend forecast for the fiscal year ending March 31, 2026, reaffirming its policy of a minimum annual dividend of ¥30 per share and linking payouts to 50% of profit attributable to owners when that exceeds the mi...
Monex Group Releases IFRS-Based Results for Fiscal Year 2026
May 12, 2026
Monex Group has released an English translation of its presentation materials summarizing financial results for the fiscal year ending March 31, 2026, prepared under IFRS. The document primarily outlines market and transaction data as well as cons...
Monex Group Adds New Outside Director to Strengthen Board Expertise
Apr 23, 2026
Monex Group plans to expand its Board of Directors to 11 members by increasing the number of outside directors from six to seven while retaining four inside directors. The nominating committee opted to keep the current structure largely intact, ci...
Monex Group Moves to Virtual-Only Shareholder Meetings and Later AGM Schedule
Apr 23, 2026
Monex Group plans to amend its Articles of Incorporation to deepen shareholder engagement by enabling virtual-only general meetings where all investors can participate online, exercise voting rights, and ask questions under equal conditions. The m...
Monex Group to Retire 2 Million Treasury Shares, Trimming Share Count
Mar 24, 2026
Monex Group, Inc. has resolved to retire 2,000,000 of its common treasury shares, representing 0.8% of its outstanding shares, with the retirement scheduled for March 31, 2026. Following the move, the total number of outstanding shares will decrea...
Monex Consolidates 3iQ Under Coincheck to Bolster Crypto Asset Business
Mar 2, 2026
Monex Group has completed an intra-group restructuring by transferring ownership of intermediate holding company 1000745629 ONTARIO INC., which controls 3iQ Digital Holdings Inc., to its consolidated subsidiary Coincheck Group N.V. The move places...
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.